Synopsis: Dalmia Bharat shares gained 2% after Q3FY26 results, with revenue rising 10% YoY, net profit nearly doubling to Rs. 128 crore, and sales volumes increasing 9.5%, signalling strong performance.
This company is engaged in the business of manufacturing and selling cement and is the 4th largest cement manufacturer by installed capacity in India is now in focus after it reported its Q3 results with net profit growth of 94% year on year.
With a market capitalisation of Rs. 41,808 cr, the shares of Dalmia Bharat Ltd closed at Rs. 2,229 per share, increasing 2% in today’s market session, making a high of Rs. 2,2242.15 per share, up from its previous close of Rs. 2,197.70 per share.
The stock has shown strong long-term performance, gaining 92% over the past five years and 26% in the last year, while declining 1.5% over six months and rising 11% in the past month.
Q3 Results
Year-on-Year (YoY) Performance
Revenue from operations increased by around 10%, rising from Rs. 3,181 crore in Q3FY25 to Rs. 3,506 crore in Q3FY26. Total expenses grew by approximately 7%, moving up from Rs. 3,135 crore to Rs. 3,362 crore. Net profit recorded a sharp jump of about 94%, surging from Rs. 66 crore to Rs. 128 crore, reflecting strong earnings growth despite higher costs.
Quarter-on-Quarter (QoQ) Performance
On a sequential basis, revenue from operations rose marginally by around 3%, increasing from Rs. 3,417 crore to Rs. 3,506 crore. Total expenses climbed by about 6%, from Rs. 3,165 crore to Rs. 3,362 crore. However, net profit declined sharply by 46%, falling from Rs. 239 crore in the previous quarter to Rs. 128 crore.
The company reports a ROCE of 5.58% and ROE of 4.15%, with a moderate debt-to-equity ratio of 0.40. It has also maintained a healthy dividend payout ratio of 20.6%.
The company commenced commercial production from its 3.6 MnTPA clinker line at Umrangso, Assam, on January 20, 2026, taking total clinker capacity to 27.1 MnT. It also commissioned 23 MW of renewable energy capacity, raising operational RE capacity to 410 MW.
Expansion plans
Dalmia Bharat is expanding its cement and clinker capacities significantly. Cement capacity will grow from 49.5 MnTPA to 61.5 MnTPA by Q2 FY28, with new units at Belgaum, Pune, and Kadapa. Clinker capacity will rise from 27.1 MnTPA to 34.3 MnTPA. These expansions aim to strengthen the company’s presence in Southern Maharashtra, Andhra Pradesh, Karnataka, and Northern Tamil Nadu markets.
About the company
Dalmia Bharat Limited is one of India’s pioneering cement companies with a growing capacity, currently pegged at 49.5 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 on having one of the lowest carbon footprints in the cement world globally.
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