Dalmia Bharat Ltd
Dalmia Bharat Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
The short version
Full-year volume for last fiscal was 29.4 million tons; H1 this year is 13.9 million tons, implying about 15.5 million tons in H2 last year. The company expects cement demand to grow at a CAGR of 7%-8% during this decade, supporting long-term growth. - For FY '26, industry growth in the first half was low single-digit but is expected to pick up in the second half with improved market conditions. - Volumes in H1 FY '26 stood at 13.9 million tons; H2 volumes are expected to exceed last year's H2 of 15.5 million tons, indicating volume growth. - EBITDA per ton declined from Q1 to Q2 due to seasonal monsoon impact but is expected to improve with better pricing and volumes in H2. - Cost pressures from higher Pet Coke prices exist but will be partially offset by cost rationalization efforts and a Rs.
From Dalmia Bharat Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Full-year volume for last fiscal was 29.4 million tons; H1 this year is 13.9 million tons, implying about 15.5 million tons in H2 last year. The company aims to exceed 15.5 million tons in H2 FY26, subject to market conditions.
- Industry growth for the second quarter was weak, estimated at low single digits; management expects stronger growth in H2 FY26.
- Long-term volume growth target is a 7-8% CAGR for the decade, aligned with an industry trend of cement growing at about 1.2x GDP growth.
2 more points from Dalmia Bharat Ltd's call on revenue
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Profitability & Margins
See what Dalmia Bharat Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Ongoing expansions at Belgaum and Kadapa with a combined capex of Rs. 6,800 crores.
- Planned Greenfield project at Jaisalmer (~5 million tons) with an estimated capex of ~Rs. 5,000 crores, to be finalized by March 2026.
- Trial runs started for the Umrangso clinkerization project (3.6 million tons) with commercial production expected in Q3 FY '26.
- Potential addition of 2-2.5 million tons grinding capacity in Northeast/East India based on Umrangso clinker.
- CAPEX guidance of around Rs. 3,000 crores for FY '26, with total FY '28 capex expected around Rs. 10,000-10,500 crores for announced projects.
- Additional capex of Rs. 3,500-3,800 crores anticipated for 6 million tons capacity expansions by FY '28.
2 more points from Dalmia Bharat Ltd's call on capex
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Dalmia Bharat Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q1 FY27): revenue ₹3.9K Cr, net profit ₹192 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Dalmia BharatLtd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
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- The Ramco Cement (Q2 FY26)
Revenue for 2QFY26 stood at ₹2,241.89 Cr (Standalone) and ₹2,245.28 Cr (Consolidated), up 9% YoY from ₹2,049.50 Cr (Standalone) and ₹2,053.94 Cr (Consolidated)…
- Nuvoco Vistas Corporation Ltd (Q2 FY26)
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Frequently Asked Questions
What were Dalmia Bharat Ltd Q2 FY26 results?
Full-year volume for last fiscal was 29.4 million tons; H1 this year is 13.9 million tons, implying about 15.5 million tons in H2 last year. The company expects cement demand to grow at a CAGR of 7%-8% during this decade, supporting long-term growth. - For FY '26, industry growth in the first half was low single-digit but is expected to pick up in the second half with improved market conditions. - Volumes in H1 FY '26 stood at 13.9 million tons; H2 volumes are expected to exceed last year's H2 of 15.5 million tons, indicating volume growth. - EBITDA per ton declined from Q1 to Q2 due to seasonal monsoon impact but is expected to improve with better pricing and volumes in H2. - Cost pressures from higher Pet Coke prices exist but will be partially offset by cost rationalization efforts and a Rs.
What is Dalmia Bharat Ltd share price analysis?
Dalmia Bharat Ltd currently shows a neutral. The stock trades at a P/E of 28.8 with a market cap of ₹31,594 Cr. Investors should review the full earnings analysis for detailed insights.
Is Dalmia Bharat Ltd planning capital expenditure?
Ongoing expansions at Belgaum and Kadapa with a combined capex of Rs.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.