Dalmia Bharat to Acquire 5.2 MTPA Central India Cement Assets from Jaiprakash Associates

Dalmia Bharat Ltd. ( (IN:DALBHARAT) ) has shared an announcement.

Dalmia Cement (Bharat) Limited has signed a Business Transfer Agreement with Jaiprakash Associates Limited and Adani Infra (India) Limited to acquire a 5.2 million tonnes per annum cement capacity and 3.3 million tonnes per annum clinker capacity in Madhya Pradesh and Uttar Pradesh for an enterprise value of Rs 2,850 crore, including 99 MW of thermal power and railway sidings. Once completed, the deal will raise Dalmia Bharat’s cement capacity to 54.7 MTPA, with ongoing projects set to lift capacity to 66.7 MTPA by Q2–Q3 FY28, providing faster access to Central markets, settling longstanding disputes with JAL under the IBC framework, and supporting the company’s ambition to become a pan-India player with improved EBITDA and returns.

The acquisition follows an earlier, unconsummated 2022 framework agreement that was derailed when JAL entered insolvency, prompting a fresh agreement post approval of Adani Group’s resolution plan. By preserving key cement assets, resolving legal and arbitral disputes, and leveraging debottlenecking and brownfield expansion potential, Dalmia Bharat aims to capitalize on relatively better pricing in newer Central markets and its cost leadership to enhance stakeholder value and operational scale.

More about Dalmia Bharat Ltd.

Dalmia Bharat Limited, through its wholly owned subsidiary Dalmia Cement (Bharat) Limited, operates in the cement industry, producing cement and clinker alongside captive thermal power generation. The company is pursuing a pan-India growth strategy, expanding its manufacturing footprint and capacity to strengthen its position in key regional markets, including the Central region of India.

Average Trading Volume: 27,844

Technical Sentiment Signal: Sell

Current Market Cap: 320.1B INR

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