Q4 2026 Dalmia Bharat Ltd Earnings Call Transcript
Key Points
- Dalmia Bharat Ltd (BOM:542216) delivered its best-ever EBITDA of INR3,083 crore and a PAT of INR1,157 crore in FY26.
- The company has a strong balance sheet with a net debt to EBITDA ratio of 0.46 times, well below the threshold level of two times.
- Dalmia Bharat Ltd is on track to expand its cement capacity to 75 million tons by FY28, with ongoing projects progressing well.
- The company achieved the lowest quarterly total cost per ton in the last five years, demonstrating its commitment to cost leadership.
- Dalmia Bharat Ltd has significantly improved its sustainability metrics, with net CO2 emissions among the lowest globally and a substantial increase in renewable energy capacity.
- The company faces cost pressures due to the West Asia conflict, impacting power, fuel, and packing costs.
- There was a 3% YOY volume growth, which was lower than expected due to an unexpected breakdown in East India.
- Dalmia Bharat Ltd experienced delays in cash outflows and project progress due to geopolitical situations.
- The company has seen a decline in its CC ratio over the past few years, indicating potential challenges in operational efficiency.
- There are concerns about cost inflation in Q1 and Q2 due to rising fuel and packing costs, with an expected increase of INR125 to INR150 per ton.
Ladies and gentlemen, good day and welcome to the earnings conference call of Dalmia Bharat Limited for the quarter ended March 31, 2026. (Operator Instructions) This conference call is being recorded, and the transcript will be put on the website of the company. After management discussion, there is an opportunity for you to ask questions.
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, Dalmia Bharat Limited; Mr. Dharmender Tuteja, CFO, Dalmia Bharat Limited; Mr. Yatin Malhotra, CFO, Dalmia Cement Bharat Limited; and the other management of the company.
I would now like to hand the conference call over to Mr. Prassan Goyal,
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