Dalmia Bharat Ltd
Dalmia Bharat Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management said on revenue, margins and capex.
The short version
Dalmia Bharat is optimistic about beating industry growth in volumes in coming quarters and years, targeting volume growth above industry averages. Dalmia Bharat expects a 7%-8% demand growth over the next 10-20 years, driven by infrastructure, housing, urbanization, and manufacturing revival. - The company aims to grow volume faster than the industry and delivered 10% volume growth recently. - Margin improvement is expected primarily through cost efficiency (3%-4%) and a potential medium-to-long-term price uplift due to rising entry barriers and industry consolidation. - CAPEX is planned around Rs.
From Dalmia Bharat Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Dalmia Bharat is optimistic about beating industry growth in volumes in coming quarters and years, targeting volume growth above industry averages.
- The company plans to double its capacity from around 75 million tons by FY28 to 110-130 million tons by FY31.
- Expected capacity growth is ~5%-6% per annum, with demand growth anticipated at 7%-8% annually.
- Northeast and East India, being low consumption and high growth regions, are expected to see high single-digit to possibly double-digit volume growth.
- They anticipate industry demand growth of around 6% for the near term, with Quarter 4 potentially seeing high single-digit to around 10% demand growth.
2 more points from Dalmia Bharat Ltd's call on revenue
Create a free account to keep reading this call
Profitability & Margins
See what Dalmia Bharat Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Dalmia Bharat targets a capacity milestone of around 75 million tons by FY28; more clarity expected in a few months.
- Multiple new project announcements are anticipated to support doubling capacity in 5 years.
- Annual average capex currently around Rs. 3,000 crore, with expectations of increasing to Rs. 4,000 crore in FY27.
- For FY27 and FY28 combined, capex guidance is Rs. 8,000-9,000 crore.
- The company maintains a disciplined capital allocation policy targeting a net debt-to-EBITDA ratio of 2; currently at 0.6, expected to stay within limits.
2 more points from Dalmia Bharat Ltd's call on capex
Create a free account to keep reading this call
Top-ranked in Cement & Cement Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Dalmia Bharat Ltd said on fundraising & capital structure — free account, 30 seconds.
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.
Full financials →Continue your research
What Dalmia BharatLtd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 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 →
Others in Cement & Cement Products this season
- Prism Johnson Ltd (Q3 FY26)
Consolidated Revenue Q3 FY26: ₹1,759 Cr, up 5.9% YoY** (Page 35) . Key concall takeaways from Prism Johnson Ltd's Q3 FY26 earnings call — and how it ranks…
- The Ramco Cement (Q3 FY26)
Standalone: ₹2,119.10 Cr (7% YoY increase from ₹1,987.83 Cr in 3QFY25) [Page 15] . Key concall takeaways from The Ramco Cements Ltd's Q3 FY26 earnings call…
- JSW Cement Ltd (Q3 FY26)
Total volume sold grew 12.1% YoY to 9.98 mn MT in 9M FY26. Key concall takeaways from JSW Cement Ltd's Q3 FY26 earnings call — and how it ranks against sector…
- Star Cement Ltd (Q3 FY26)
CAPEX incurred ₹431 crore till Q3 FY26; planned ₹150 crore in Q4; FY27 CAPEX to be finalized. Key concall takeaways from Star Cement Ltd's Q3 FY26 earnings…
Arthneeti Pro · Annual
Dalmia Bharat Ltd and 15K+ more earnings calls,
for less than your morning chai
a day
Every earnings call, ranking and concall Q&A across all four results seasons.
Secure Razorpay payment · instant access
Frequently Asked Questions
What were Dalmia Bharat Ltd Q3 FY26 results?
Dalmia Bharat is optimistic about beating industry growth in volumes in coming quarters and years, targeting volume growth above industry averages. Dalmia Bharat expects a 7%-8% demand growth over the next 10-20 years, driven by infrastructure, housing, urbanization, and manufacturing revival. - The company aims to grow volume faster than the industry and delivered 10% volume growth recently. - Margin improvement is expected primarily through cost efficiency (3%-4%) and a potential medium-to-long-term price uplift due to rising entry barriers and industry consolidation. - CAPEX is planned around Rs.
What is Dalmia Bharat Ltd share price analysis?
Dalmia Bharat Ltd currently shows a neutral. The stock trades at a P/E of 31.4 with a market cap of ₹34,476 Cr. Investors should review the full earnings analysis for detailed insights.
Is Dalmia Bharat Ltd planning capital expenditure?
Dalmia Bharat targets a capacity milestone of around 75 million tons by FY28; more clarity expected in a few months. - Multiple new project announcements are anticipated to support doubling capacity in 5 years. - Annual average capex currently around Rs.
Keep Dalmia Bharat Ltd on your radar — track it to get its next earnings analysis in your feed.
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.