Q3 2025 Dalmia Bharat Ltd Earnings Call Transcript
Key Points
- Dalmia Bharat Ltd (BOM:542216) reported a 3.7% year-over-year growth in sales from its own plants, despite a 2% overall volume decline due to the cessation of tolling volumes from JP plants.
- The company is optimistic about cement demand growth, projecting a 6% to 7% year-over-year increase in Q4, translating to a full-year growth of 3% to 4%.
- Dalmia Bharat Ltd (BOM:542216) is on track to reach 49.5 million tonnes of cement capacity by the end of FY25 and plans to expand to 75 million tonnes by FY28.
- The company has successfully improved its trade mix to 66% and its premium product mix to 24% during the quarter.
- Dalmia Bharat Ltd (BOM:542216) continues to focus on cost reduction, aiming for INR150 to INR200 per tonne savings through internal measures by FY27.
- The company's revenue declined by 12% year-over-year to INR3,181 crores, primarily due to a sharp decline in cement prices.
- EBITDA decreased by 24.5% year-over-year to INR511 crores, impacted by weak cement prices.
- Logistic costs increased by 2.1% year-over-year due to supply chain adjustments and plant shutdowns.
- Net debt increased to INR1,242 crores, with a marginal rise in net debt-to-EBITDA ratio to 0.55 times.
- The company faces increased competitive intensity, which may cap significant gains in cement prices despite demand growth.
Ladies and gentlemen, good morning, and welcome to the earnings conference call of Dalmia Bharat Limited for the quarter and nine months ended December 31, 2024. Please note that this conference call will be for 60 minutes and for the duration of this call, all participants line will be in the listen-only mode. This conference call is being recorded, and the transcript may be put up on the website of the company. After the management discussion, there is an opportunity for you to ask questions. (Operator Instructions)
Before I hand over the conference to the management, I would like to remind you that certain statements made during the course of this call may not be based on historical information or facts and may be forward-looking statements. These statements are based on expectations and projections and may involve a number of risks and uncertainties such that the actual outcome may differ materially from those suggested by such statements.
On the call, we have with us Mr. Puneet Dalmia, Managing Director and CEO; Mr. Dharmender Tuteja, Chief Financial Officer; and the other
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