Price History
Jefferies maintains a Buy recommendation for Dalmia Bharat, setting a price target of ₹2445, due to the company's planned acquisitions in the cement industry from Jaypee and Adani. This move could provide entry into a new geographical area with quicker expansion but could also increase competition in Central India.
Citi advises investors to consider purchasing shares in Dalmia Bharat due to promising factors like high Return on Capital Employed (RoCE), efficient utilization, and advancement towards premium products. However, potential concerns regarding the company's mutual fund unit could potentially cap its price rise, with a target set at ₹2,450 per share.
CLSA upholds an Outperform rating for Dalmia Bharat with a target price of ₹2240, following the acquisition of a 5.2 million tonne cement asset at $70/t. The deal enhances growth and diversification potential but may temporarily strain the balance due to increased near-term supply.
Dalmia Bharat announces its AGM on June 30, 2026, to be held virtually. Shareholders can expect a dividend of Rs. 5 per share. Additionally, the company aims to raise an impressive Rs. 4,000 crore through securities issuance and has proposed auditor reappointment for a five-year term.
Dalmia Cement, a subsidiary of Dalmia Bharat Ltd, has purchased cement and clinker units worth ₹2,850 Cr from Jaiprakash Associates Ltd, increasing its capacity to 54.7 MnTPA. With further expansion plans in place by FY28, the company aims to boost its production capacity to 66.7 MnTPA.
Cement manufacturers face an approximate 300 rupee per tonne increase in costs due to inflation, potentially leading to price hikes. This is attributed to escalating input and logistics expenses. Adani's acquisition of Dalmia Bharat aids Ambuja in expanding its influence in Central India, however, the increased competition might put pressure on margins.
Dalmia Bharat's planned acquisition of JP Cement assets is deemed a positive move by HDFC Securities, potentially strengthening Dalmia Bharat's position in the cement industry.
Dalmia Bharat aims to boost its capacity to 75 MT by 2028, seeking funding through equity shares, convertible securities, or warrants. The company's current net debt/EBITDA ratio stands at a manageable 0.46x, indicating the funds could support this expansion plan effectively.
Foreign institutional investors (FIIs) have been net sellers of Nifty futures for eight consecutive days, causing a 41% increase in open interest (OI). This has resulted in a 3.3% decline in the Nifty index. Notably, Dalmia Bharat, Kalyan Jewellers, IEX, and Bharti Airtel have seen increasing OI despite price drops.
Cement industry growth is projected to decelerate, with a forecasted expansion rate of 5-7% for the fiscal year 2024 compared to the expected 8-9% in FY26. The increased costs due to the ongoing crisis in West Asia are creating challenges for the cement sector's growth trajectory.
Dalmia Bharat Limited conducted a significant block trade on the National Stock Exchange (NSE), exchanging approximately 102,417 shares at around Rs. 1777.2 per share, amounting to a total value of about Rs. 18.2 crore.
Dalmia Bharat has refuted allegations of an SFIO investigation, instead filing complaints with SEBI, NSE, and EOW. The company claims that Allied Financial Services' actions, as reported by SEBI, are fraudulent.
Motilal Oswal predicts a bullish outlook for the BSE, setting a target of ₹4,400 due to an increase in cash market share. Investors are advised to consider UltraTech, JK Cement, and Dalmia Bharat as preferred picks within the cement sector. Moreover, AI sectors have been identified as areas of focus by Motilal Oswal.
The Securities and Investor Protection Scheme (SIPO) has exposed a 600 crore rupee fraud by Dalmia Bharat Group, involving share manipulation and fabricated records, dating back to 2017. Additionally, the acquisition of OCL's 121 crore stake in 2015 is under scrutiny for potential market manipulation activities.
Dalmia Bharat defied cost challenges due to geopolitical tensions, reporting a significant increase in profits, showcasing the company's resilience amidst complex economic conditions.
Goldman Sachs has adjusted its outlook for Dalmia Bharat, lowering the price target to ₹2,090 from ₹2,120 while maintaining a neutral stance. This suggests potential modest gains, but investors may want to exercise caution.
Investment analysts at Macquarie, Morgan Stanley, and Citi recommend stocks such as Bandhan Bank, Maruti, Dalmia Bharat, and REC with suggested price targets. These recommendations are based on current market outlook but may not include comprehensive analysis.
Dalmia Bharat is planning to reduce annual costs by up to INR 100 crores, aiming for significant cost savings. The organization aims to achieve greater-than-average industry volume growth in the financial years 2027 and 2028.
Dalmia Bharat's fiscal year 2026 net profit increased by 65% to 1,158 crores, primarily driven by improved pricing, though a deferred tax charge of 337 crores was incurred. The Q4 net profit tripled to 394 crores. However, escalating fuel, freight, and packaging costs due to the West Asia conflict could potentially present challenges moving forward.
Citigroup has maintained a Buy rating for Dalmia Bharat but lowered its target price to ₹2,450 due to Q4's resilient costs and muted volumes. The analysts expect cost reductions will enhance medium-term returns for the company.
HDFC Securities recommends buying Maruti Suzuki and Phoenix Mills, while maintaining a hold on Motherson Sumi Wiring India due to ongoing supply chain challenges. The Q4 results of these companies show mixed to positive trends.
Dalmia Bharat manages to increase Q4 sales by 3%, even with a 14-day kiln disruption, indicating resilience. EBITDA per tonne grew by 10.4% YoY, which is impressive. However, potential cost increases in the upcoming quarters necessitate close monitoring.
Analysts are reassessing their recommendations on Dalmia Bharat's stock due to Q4 results, with the new price target for 2026 yet to be determined. Investors may want to stay tuned for updates on this front.
Dalmia Bharat aims for a significant increase in cement production capacity, targeting 75 million tons by FY2028, with an expected growth rate of 7-8% in demand. The company is planning to add approximately 61.5 million tons per year through projects in Belgaum, Pune, and Kadapa over the next 18-20 months.
Dalmia Bharat intends to boost its production capacity by 27%, reaching 61.5 million tons by FY28, with an estimated investment of approximately INR 3,400 crores.
CLSA maintains its optimistic stance on Dalmia Bharat, setting a target price of INR 2,240 following Q4 results. Despite a 14% year-over-year increase in EBITDA due to cost savings, the company faced a 4% drop in volumes amidst cost pressures.
Dalmia Bharat reports a Q4 net profit of INR 380 crores on revenue of INR 4,242 crores, while EBITDA stands at INR 880 crores with a margin of 20.7%.
Dalmia Bharat's Q4 net profit surged by 81% compared to the previous year, reaching ₹3.8 billion, significantly exceeding the projected ₹3.4 billion. This marks a significant improvement from the ₹2.1 billion recorded in the prior year.
Dalmia Bharat significantly improved its profit after tax (PAT) by 65% year-on-year to reach Rs 1,157 crore in the fiscal year 2026. This growth was driven by a 3% increase in cement volumes during Q4 and an all-time high EBITDA of Rs 902 crore, which saw a 14% rise year-on-year.
Dalmia Bharat's Q1 results showed a slower-than-expected 3% increase in volumes, falling short of the targeted 7-8% for FY2026.
Dalmia Cement's properties have been released following a ₹92.5 crore bank guarantee, with the Enforcement Directorate. The reduced Proceeds of Crime amount stands at ₹92.5 crores, as the original ₹793.3 crores is being contested in an ongoing appeal.
Bank of America (BofA) has lowered its target prices for cement companies such as Ambuja, UltraTech, Dalmia Bharat, and Shree Cement due to increasing input costs, particularly due to rising crude oil prices. In particular, Shree Cement's underperformance necessitates a price increase of 6-7% before the monsoon season to mitigate cost pressures that are negatively affecting sector margins.
DAM Capital has upgraded Dalmia Bharat's rating to 'Buy', setting a target price of INR 2,030. The company anticipates price increases of approximately Rs 30-50 per bag starting from April 2026, aiming to counteract cost inflation.
DAM Capital has recommended buying cement stocks due to anticipated price increases of Rs. 30-50 per bag and favorable valuations, potentially leading to a 7.4%-21.9% increase in shares for companies like UltraTech Cement, JSW Cement, Shree Cement, Ambuja, Dalmia Bharat, and Nuvoco.
Dalmia Bharat has successfully resumed operations at its Odisha kiln after a temporary shutdown earlier this month. The brief halt disrupted production by approximately 2.5 to 3 lakh tons in March, but the company is now back to normal output levels.