Dalmia Bharat Ltd

Dalmia Bharat Ltd

₹ 2,114 1.15%
26 Feb - close price
About

Dalmia Bharat is engaged in the business of Manufacturing and Selling of Cement. The company was started in 1939 and is the 4th largest cement manufacturer by installed capacity in India.[1]

Key Points

Group Overview
Founded in 1939 by Late Shri Jaidayal Dalmia, Dalmia Bharat Group is one of the Fastest Growing and Most Profitable Groups in India. Dalmia Bharat Ltd. is 4th largest cement manufacturing company in India and Dalmia Bharat Sugar Ltd. is one of the fastest growing cane based multi-product companies.[1]

  • Market Cap 39,641 Cr.
  • Current Price 2,114
  • High / Low 2,431 / 1,707
  • Stock P/E 209
  • Book Value 426
  • Dividend Yield 0.43 %
  • ROCE 2.61 %
  • ROE 2.45 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 25.3% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 91.6%

Cons

  • Stock is trading at 4.96 times its book value
  • The company has delivered a poor sales growth of 1.10% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 1.81% over last 3 years.
  • Earnings include an other income of Rs.197 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Cement Industry: Cement - South India

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
38.00 39.00 34.00 34.00 33.00 34.00 33.00 33.00 32.00 34.00 35.00 33.00 30.00
28.00 43.00 29.00 29.00 28.00 28.00 29.00 30.00 29.00 30.00 32.00 28.00 28.00
Operating Profit 10.00 -4.00 5.00 5.00 5.00 6.00 4.00 3.00 3.00 4.00 3.00 5.00 2.00
OPM % 26.32% -10.26% 14.71% 14.71% 15.15% 17.65% 12.12% 9.09% 9.38% 11.76% 8.57% 15.15% 6.67%
9.00 16.00 8.00 80.00 3.00 93.00 7.00 88.00 11.00 94.00 9.00 85.00 9.00
Interest 2.00 4.00 2.00 1.00 0.00 1.00 1.00 0.00 1.00 1.00 1.00 1.00 1.00
Depreciation 4.00 3.00 1.00 2.00 1.00 2.00 1.00 2.00 1.00 2.00 1.00 2.00 1.00
Profit before tax 13.00 5.00 10.00 82.00 7.00 96.00 9.00 89.00 12.00 95.00 10.00 87.00 9.00
Tax % 30.77% 0.00% 0.00% 18.29% -42.86% 0.00% 0.00% 4.49% 8.33% 6.32% 10.00% 4.60% 0.00%
9.00 5.00 10.00 67.00 10.00 96.00 9.00 85.00 11.00 89.00 9.00 83.00 9.00
EPS in Rs 0.48 0.27 0.53 3.58 0.53 5.12 0.48 4.53 0.59 4.75 0.48 4.43 0.48
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
0 0 103 125 164 151 148 135 132 132
0 0 86 113 126 128 133 114 118 118
Operating Profit 0 0 17 12 38 23 15 21 14 14
OPM % 16% 10% 23% 15% 10% 16% 11% 11%
0 0 65 91 87 143 41 184 200 197
Interest 0 0 21 5 2 4 11 4 3 4
Depreciation 0 0 4 4 4 9 11 6 6 6
Profit before tax 0 0 57 94 119 153 34 195 205 201
Tax % 30% 23% 15% 12% 26% 6% 5%
0 0 40 72 101 135 25 183 195 190
EPS in Rs 0.00 0.00 8,000.00 14,400.00 5.23 7.00 1.34 9.77 10.40 10.14
Dividend Payout % 0% 7,855% 39% 29% 98% 91% 85%
Compounded Sales Growth
10 Years: %
5 Years: 1%
3 Years: -4%
TTM: -2%
Compounded Profit Growth
10 Years: %
5 Years: 25%
3 Years: 24%
TTM: -5%
Stock Price CAGR
10 Years: %
5 Years: 13%
3 Years: 14%
1 Year: 15%
Return on Equity
10 Years: %
5 Years: 2%
3 Years: 2%
Last Year: 2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 0 0 0 6,654 39 39 37 37 37 38
Reserves -0 -0 809 859 7,541 7,603 7,463 7,956 7,811 7,960
0 0 200 2 2 19 205 5 3 3
0 0 6,817 231 100 52 72 116 96 117
Total Liabilities 0 0 7,826 7,746 7,682 7,713 7,777 8,114 7,947 8,118
0 0 0 74 72 90 73 72 68 66
CWIP 0 0 0 1 7 2 1 0 0 0
Investments 0 0 7,162 7,066 7,113 7,042 7,091 7,521 7,346 7,468
0 0 664 605 490 579 612 521 533 584
Total Assets 0 0 7,826 7,746 7,682 7,713 7,777 8,114 7,947 8,118

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
18 -198 -187 -12 40 -11 11
15 431 225 205 70 305 242
-33 -231 -31 -91 -217 -299 -174
Net Cash Flow 0 2 7 102 -107 -5 79

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 46 64 116 41 32 24 36
Inventory Days
Days Payable
Cash Conversion Cycle 46 64 116 41 32 24 36
Working Capital Days 1,435 1,075 737 822 1,250 262 -3
ROCE % 0% 15% 2% 1% 2% 1% 3% 3%

Shareholding Pattern

Numbers in percentages

7 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
55.97% 55.97% 55.97% 55.97% 55.90% 55.90% 55.87% 55.86% 55.86% 55.86% 55.85% 55.84%
13.46% 13.14% 13.77% 13.46% 12.63% 12.59% 12.37% 12.43% 12.87% 13.91% 14.13% 12.96%
4.96% 5.72% 6.00% 6.49% 7.07% 7.26% 8.14% 8.13% 8.53% 8.82% 9.42% 11.03%
0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.13% 0.13% 0.13% 0.13% 0.13% 0.13%
25.53% 25.10% 24.18% 24.01% 24.33% 24.18% 23.49% 23.45% 22.59% 21.29% 20.46% 20.03%
No. of Shareholders 31,52936,25649,15757,93862,64766,29862,93559,63657,07251,46648,92752,428

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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