India · Delayed Price · Currency is INR Dalmia Bharat Earnings Call Transcripts
Fiscal Year 2026
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Record EBITDA and PAT achieved in FY 2026, with strong cost control and margin improvement despite inflationary pressures. Capacity expansion to 75 million tons by FY 2028 remains on track, with robust CapEx plans and a focus on growing ahead of industry demand.
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Q3 FY2026 saw 10% YoY volume and revenue growth, with EBITDA up 18% YoY. Expansion projects are on track, and the company targets 75 MT capacity by FY2028. Margins are expected to improve in Q4 as demand remains robust and pricing stabilizes.
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Revenue and EBITDA saw strong double-digit growth year-over-year, with cost leadership and capacity expansion supporting profitability. GST reduction and stable prices are expected to drive demand in H2, while CapEx and net debt remain well managed.
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Achieved record quarterly EBITDA with strong margin expansion, driven by improved pricing and sales quality, despite flat volumes. Major capacity expansions are underway, with a focus on profitable growth, cost leadership, and maintaining a robust balance sheet.
Fiscal Year 2025
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Q4 saw improved margins and cost efficiencies despite flat realizations and lower YoY volumes, with strong expansion in Northeast and Bihar. FY2026 guidance includes robust CapEx, continued cost reduction, and a focus on profitable growth amid industry consolidation and regional price recovery.
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Volumes grew 2% YoY, but revenue declined 12% YoY due to weak cement prices, while EBITDA dropped 34.5% YoY. Cost control, premium product mix, and renewable energy initiatives supported margins. CapEx and expansion plans remain on track, with a positive long-term outlook.
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Q2 FY25 saw 8.4% volume growth but a 2% revenue decline due to weak pricing, with EBITDA down 27% YoY. The company expects demand and prices to improve in H2, maintains strong cost control, and continues aggressive capacity expansion, targeting 75 million tons by FY28.
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Q1 FY25 saw 6.2% volume growth and 9% higher EBITDA despite weak demand and soft prices. Cost reductions, increased renewable energy use, and ongoing expansion support a 12% volume growth target for FY25, with INR 150-200/ton cost savings planned over three years.