Cement manufacturer Dalmia Bharat Ltd reported a 61.02% drop in consolidated net profit for the second quarter ended September 30, 2024, with earnings falling to ₹49 crore from ₹124 crore in the same period last year.
The company’s revenue from operations also saw a 2.1% decline, reaching ₹3,087 crore compared to ₹3,153 crore in the corresponding quarter of the previous fiscal. Operating performance weakened, with EBITDA down by 26.8% to ₹434 crore, and the EBITDA margin narrowing to 14.1%, compared to 18.8% a year earlier.
Despite these challenges, Dalmia Bharat posted an 8.4% year-on-year increase in cement volume, reaching 6.7 million tonnes (MnT). The company’s EBITDA per tonne was ₹650. Additionally, the company is bolstering its renewable energy initiatives, with renewable energy consumption rising to 39% during the quarter.
It signed new agreements for a cumulative 151 MW of renewable power, building on the previously executed 127 MW. The board has declared an interim dividend of ₹4 per equity share, with a record date set for October 26, 2024.
Looking ahead, Managing Director & CEO Puneet Dalmia remains optimistic, stating, “As India continues to grow, the cement sector will benefit. We aim to announce our Phase II expansions within the next 9 months and achieve our goal of 75 MnT by FY28.”
Dalmia Bharat Ltd is one of India’s leading cement manufacturers, with a significant presence in the building materials sector. Established in 1939, the company has grown into a major player, offering a wide range of cement products and services across the country.
Dalmia Bharat operates through an extensive network of plants and distribution centers, catering to various sectors including infrastructure, housing, and commercial projects. The company is known for its strong focus on sustainability, with significant investments in renewable energy and green manufacturing processes.
It aims to lead the industry in environmental responsibility, with ambitious goals for reducing its carbon footprint. Dalmia Bharat is also committed to expanding its capacity and market reach, targeting 75 million tonnes (MnT) of production by FY28, positioning itself as a key contributor to India’s growing construction needs.
