Q1 FY25 Highlights

• Installed cement capacity on 30th June at 45.6 MnT (Current 46.6 MnT)
• Volume increased 6.2% YoY to 7.4 MnT
• EBITDA increased 9.2% YoY to Rs. 669 Cr
• Renewable Energy consumption increased to 35%
• Executed Renewable Power Agreements under Group Captive for 127 MW cumulatively.
• Net Debt to EBITDA stood at 0.17x

New Delhi, July 18th, 2024: Dalmia Bharat Limited, (BSE: 542216, NSE: DALBHARAT), a leading cement manufacturing company, reported its consolidated financial results for the quarter ended June 30, 2024.

1. Financial Highlights for the Quarter ended June 30, 2024

(Figures in Rs. Crores)

^Exceptional Item: Includes impact of 84 Cr on account of one-time provision being created with Jaiprakash Associates Ltd. undergoing Insolvency Proceedings. (Pre-Tax Rs. 113Cr)

Commenting on the performance, Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat Limited, said, “The continuity of the incumbent government at the Centre ensures policy stability and a continued focus on infrastructure spending, which bodes well for cement sector’s long-term prospects, particularly cement demand. During the quarter, even though cement demand was weak across regions amidst general elections, our volumes grew 6.2% YoY while margins improved to 18.5% from 16.9% last year.”

Mr. Dharmender Tuteja, Chief Financial Officer – Dalmia Bharat Limited, said “The cement pricing continued to be weak during the quarter, but we saw a notable improvement in margins due to better input prices and reversal of certain cost inefficiencies of the previous quarter. We are progressing well on the long-term levers of margin improvement including investment in brand, renewable energy and operationalizing captive coal mines.” He also said, “We have added 2 MnT of cement capacity in South and are on track to add another 2.9 MnT in North East & East region during FY25. Our strong balance sheet positions us well for the next phase of expansion.”

Key updates

• Installed cement capacity on 30th June at 45.6 MnT (Current 46.6 MnT)
• In line with the commitment towards RE100 by 2030 & Carbon Negative by 2040, Dalmia Cement (Bharat) Limited, a wholly owned subsidiary of the Company, has entered into multiple Renewable Power Agreements under the Group Captive, which will secure 127 MW of renewable power through Solar and Wind energy. The commissioning of these Renewable power plants is expected to be in FY25 & FY26.

Key Recognitions during the quarter

• Recognized with CDP Leadership Award (CDP Discloser 2023, Climate) for its commitment to environmental stewardship
• Recognized as the Supply Chain Champion for the Northern Region at the ISCM Supply chain rankings of the 2nd India Supply Chain Leaders Senate 2024
• Won the Procurement Excellence of the Year at the 2nd Procure Connect Confex & Awards 2024

About Dalmia Bharat Foundation:

Founded in 1939, Dalmia Bharat Limited (BSE/NSE Symbol: DALBHARAT) is one of India’s pioneering cement companies headquartered in New Delhi. With a growing capacity, currently pegged at 46.6 MnT, Dalmia Bharat Limited (including its subsidiaries) is the fourth-largest cement manufacturing company in India by installed capacity. Spread across 10 states and 15 manufacturing units. Dalmia Cement (Bharat) Limited, a subsidiary of Dalmia Bharat Limited, prides itself at having one of the lowest carbon footprints in the cement world globally. It is the first cement company to commit to RE100, EP100 & EV100 (first triple joiner) – showing real business leadership in the clean energy transition by taking a joined-up approach. Visit us at https://www.dalmiacement.com/

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