Dalmia Bharat reported strong Q2 FY26 results, with revenue up 11% Y-o-Y to ₹3,417 crores and EBITDA up 60% Y-o-Y to ₹696 crores. Cement EBITDA per ton reached ₹1,013. The company expects improved demand in the second half of the year and is progressing with capacity expansion plans, targeting 75 million tons by FY28. An interim dividend of ₹4 per share was declared.
Financial Performance
In Q2 FY26, Dalmia Bharat’s revenue increased by 11% Y-o-Y to ₹3,417 crores. EBITDA grew significantly by 60% Y-o-Y, reaching ₹696 crores, resulting in ₹1,013 cement EBITDA per ton for the quarter.
The company achieved an EBITDA margin of 20.4% in Q2 FY26, compared to 14.1% in the same quarter last year.
Operational Highlights
Trade share stood at 62%, while the premium product share was at 22% during the quarter.
Power and fuel cost per ton of production marginally increased by 1% Y-o-Y to ₹1,017 per ton. Renewable energy share reached 48% of consumption. The company commissioned 93 Megawatt of RE capacity and is on track to reach 576 Megawatt by the end of FY26.
Logistic costs declined by 3.8% Y-o-Y to ₹1,060 per ton, with a lead distance of 287 kilometers.
Capacity Expansion
The Belgaum and Kadapa expansion projects are progressing as planned, adding 12 million tons per annum of cement capacity. Trial run production commenced for a new 3.6 million ton per annum clinker line in Umrangso, Assam, expected to begin commercial production in Q3 FY26.
Other Key Points
The company expects total incentive accrual for the year to be around ₹240 crores due to the lower GST rate.
CAPEX spend for FY26 is estimated to be about ₹3,000 crores. Gross debt at the end of the quarter was ₹6,621 crores, and net debt was ₹1,602 crores.
The Board declared an interim dividend of ₹4 per share.
Source: BSE
