Dalmia Bharat Limited — Investor Meet, 01-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Dalmia Bharat posted its best-ever FY26 EBITDA of Rs 3,083 Cr (+28% YoY) and PAT of Rs 1,157 Cr (+65% YoY). Q4 EBITDA jumped 50% QoQ to Rs 902 Cr, with EBITDA/ton at Rs 1,023. This performance was boosted by cost leadership and better realizations. Q4 volumes grew 3% YoY, despite an unexpected breakdown.

The company is mitigating rising input costs (petcoke, packing, logistics) via fuel mix optimization and expects April price hikes to offset these. Dalmia aims for 75 MnT capacity by FY28, with Belgaum ahead of schedule. FY27 capex is projected at Rs 3,200-3,400 Cr, maintaining a healthy 0.46x Net Debt/EBITDA. Management remains highly optimistic on India's growth and the cement sector's outlook.