Dalmia Bharat Ltd (NSE:DALBHARAT)

Q2 2026 Dalmia Bharat Ltd Earnings Call Transcript

Oct 17, 2025 / 11:30 AM GMT

Release Date Price: ₹2245.1 (+0.93%)

Transcript

Key Points

Positve

Dalmia Bharat Ltd (BOM:542216) reported an 11% year-over-year increase in revenues, reaching INR 3,417 crore.
EBITDA grew by 60% year-over-year to INR 696 crore, marking the second consecutive quarter with a four-digit cement EBITDA per ton.
The company is progressing well with its capacity expansion projects in Belgam and Kadapa, which will add 12 million tons per annum in the next couple of years.
Dalmia Bharat Ltd (BOM:542216) has commenced trial production of a new clinker line in Assam, expected to begin commercial production in Q3 FY26.
The company has commissioned 93 megawatts of renewable energy capacity this quarter, aiming to scale operational renewable capacity to 576 megawatts by the end of FY26.

Negative

The Indian cement demand grew at low single digits in Q1 and Q2, affected by erratic weather conditions and changes in the GST regime.
The reduction in GST on cement from 28% to 18% will defer the accrual of incentives, reducing expected incentive accrual for the year to INR 240 crore from an earlier guidance of INR 300 crore.
Net debt increased to INR 1,602 crore, attributed to a reduction in the value of shares held in treasury.
The company experienced a 4.3% decline in realization, which was higher than the industry average.
Trade sales share dropped to 62%, a four-year low, indicating a shift towards non-trade sales.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DALB.NS - Dalmia Bharat Ltd
Q2 2026 Dalmia Bharat Ltd Earnings Call
Oct 17, 2025 / 11:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the earnings conference call of Dalmia Bharat Limited for the quarter ended 30th September 2025.

Please note that this conference call will be for 60 minutes and for the duration of this conference call, all participant lines will be in the listen-only mode.

This conference call is being recorded and the transcript will be put on the website of the company.

After the management discussion, there is an opportunity for you to ask questions.

Should you need any assistance during the conference call, please signal an operator by pressing star, then 0 on your touchstone phone.

As a reminder, all participant lines will be in the list only mode.

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