Dalmia Bharat Q2FY24 financial results: Staggering growth in EBITDA by 55.2%

Dalmia Bharat Limited, a dominant player in the cement manufacturing industry, showcased its consolidated financial results for Q2FY24, ending September 30, 2023. The figures are promising, with a remarkable 6.6% YoY growth in sales volume, reaching 6.2 MnT. Further, an impressive 6.0% YoY rise in income from operations, standing at Rs. 3,149 crores, paints a picture of a flourishing business.

The notable highlight remains the soaring EBITDA, which has ascended by a whopping 55.2% YoY, settling at Rs. 589 crores. This growth pattern is sustained throughout other financial metrics such as EBITDA/T, registering a 45.6% increase YoY, and PAT showcasing an incredible surge of 161.7% YoY.

Puneet Dalmia, the esteemed Managing Director & CEO of Dalmia Bharat Limited, commented on the soaring numbers, emphasizing the company’s foresight in predicting the cement demand upswing. He underlined the strategic expansion over the past 3.5 years, adding a commendable ~17.2 MnT cement capacity, marking a significant 65% growth since FY20. As Dalmia Bharat continues its ambitious endeavor towards its vision of achieving 110-130Mnt by 2031, Mr. Dalmia highlights the substantial opportunity that lies ahead.

In addition to the financial figures, Mahendra Singhi, MD & CEO of Dalmia Cement (Bharat) Limited, brought attention to the organization’s commendable environmental commitment. He remarked on the company’s achievement in reducing its carbon footprint to a staggering 456 kg CO2 per ton of cement, positioning them as environmental frontrunners in the global cement sector.

Noteworthy Updates for the Quarter

• Successful commencement of commercial production at the new Greenfield Cement Grinding unit in Sattur, Tamil Nadu with a capacity of 2.0 MnT.
• The company has also kickstarted commercial production of clinker (0.5 MnT) at Ariyalur, Tamil Nadu.
• Major leadership reshuffling with the Board of Dalmia Cement (Bharat) Limited recommending Puneet Dalmia as the upcoming CEO & MD, effective from December 8, 2023. This follows the illustrious decade-long tenure of Mahendra Singhi.
• An approved proposal to amplify the cement grinding capacity at Rohtas Cement Works, Bihar, expected to be realized by FY25.
• Recognizing shareholders’ faith, the company has declared an interim dividend of Rs 4 per share.

With Q2FY24 yielding remarkable results, Dalmia Bharat Limited continues to reinforce its dominance in the cement manufacturing sector.