Dalmia Bharat Ltd. (IN:DALBHARAT)
:DALBHARAT
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Dalmia Bharat Ltd.
(DALBHARAT)
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Rating:50Neutral
Price Target:
₹1,714.00
▼(-19.56% Downside)
Action:Reiterated
Date:04/30/26
The score is held back primarily by weak cash conversion (recurring negative free cash flow) and an expensive valuation (very high P/E with low yield). Offsetting factors include an equity-supported balance sheet and a 2026 net income rebound, while technical indicators are largely neutral and do not strongly improve the outlook.
Positive Factors
Multi-year Revenue Growth
Multi-year revenue growth culminating in a 2026 rebound expands the company's scale and market penetration. A larger revenue base supports distribution leverage and product-mix optimization, providing a structural platform for longer-term demand capture despite near-term variability.
Negative Factors
Recurring Negative Free Cash Flow
Recurring negative free cash flow means cash from operations often fails to cover capex and working-capital needs. Over a 2–6 month horizon this constrains the firm's ability to reduce debt, fund dividends or invest organically without raising external capital, increasing structural funding risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year Revenue Growth
Multi-year revenue growth culminating in a 2026 rebound expands the company's scale and market penetration. A larger revenue base supports distribution leverage and product-mix optimization, providing a structural platform for longer-term demand capture despite near-term variability.
Read all positive factors
Dalmia Bharat Ltd. (DALBHARAT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹327.64B
Dividend Yield0.44%
Average Volume (3M)10.55K
Price to Earnings (P/E)21.5
Beta (1Y)1.05
Revenue Growth5.89%
EPS Growth66.77%
CountryIN
Employees5,945
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)59.97
Shares Outstanding187,565,950
10 Day Avg. Volume10,142
30 Day Avg. Volume10,548
Financial Highlights & Ratios
PEG Ratio0.44
Price to Book (P/B)1.86
Price to Sales (P/S)2.25
P/FCF Ratio-212.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹2,152.50Price Target Upside1.02% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)58.58
Revenue Forecast (FY)₹163.50B
Dalmia Bharat Ltd. Business Overview & Revenue Model
Company Description
Dalmia Bharat Limited, together with its subsidiaries, manufactures and sells clinker and cement products to individual consumers and institutional customers. It provides Portland slag cement, Portland pozzolana cement, Portland composite cement, ...
How the Company Makes Money
Dalmia Bharat Ltd. primarily makes money by manufacturing cement and selling it to customers in the construction ecosystem. Its core revenue stream is the sale of cement (across different grades/variants) through a mix of distribution channels, in...
Dalmia Bharat Ltd. Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
67
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 143.25B | 148.04B | 139.80B | 146.91B | 135.52B | 112.86B |
| Gross Profit | 81.89B | 68.13B | 83.86B | 85.07B | 75.51B | 69.62B |
| EBITDA | 30.80B | 30.83B | 24.78B | 27.68B | 24.76B | 25.92B |
| Net Income | 11.25B | 11.39B | 6.83B | 8.26B | 10.35B | 8.16B |
Balance Sheet | ||||||
| Total Assets | 315.13B | 333.12B | 302.26B | 277.49B | 255.43B | 248.71B |
| Cash, Cash Equivalents and Short-Term Investments | 50.33B | 53.29B | 46.02B | 44.72B | 38.79B | 45.75B |
| Total Debt | 70.82B | 74.06B | 57.02B | 48.05B | 38.55B | 31.76B |
| Total Liabilities | 135.58B | 150.01B | 127.26B | 112.42B | 97.99B | 85.58B |
| Stockholders Equity | 176.79B | 179.79B | 173.74B | 163.97B | 156.28B | 160.61B |
Cash Flow | ||||||
| Free Cash Flow | -4.54B | -1.57B | -5.47B | -1.92B | -4.57B | 1.68B |
| Operating Cash Flow | 7.35B | 18.99B | 21.17B | 26.35B | 22.52B | 19.37B |
| Investing Cash Flow | -18.30B | -30.90B | -22.70B | -27.50B | -23.26B | -10.48B |
| Financing Cash Flow | 10.16B | 12.54B | -390.00M | 2.22B | 1.68B | -9.42B |
Dalmia Bharat Ltd. Technical Analysis
Negative
2130.80
Price Trends
1871.59
Negative
1987.72
Negative
2089.96
Negative
Market Momentum
-57.19
Positive
37.32
Neutral
22.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DALBHARAT, the sentiment is Negative. The current price of 2130.8 is above the 20-day moving average (MA) of 1855.17, above the 50-day MA of 1871.59, and above the 200-day MA of 2089.96, indicating a bearish trend. The MACD of -57.19 indicates Positive momentum. The RSI at 37.32 is Neutral, neither overbought nor oversold. The STOCH value of 22.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DALBHARAT.
Dalmia Bharat Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | ₹887.73B | 39.50 | ― | 0.73% | 8.61% | 55.29% | |
62 Neutral | ₹3.38T | 26.49 | ― | 0.66% | 19.67% | 24.67% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | ₹427.91B | 61.18 | ― | 0.27% | 17.65% | 41.56% | |
56 Neutral | ₹255.49B | 24.72 | ― | 0.43% | 21.37% | -11.09% | |
56 Neutral | ₹1.08T | 20.95 | ― | 0.37% | 19.28% | 9.37% | |
50 Neutral | ₹327.64B | 21.50 | ― | 0.44% | 5.89% | 66.77% |
* Basic Materials Sector Average
IN:DALBHARAT
Dalmia Bharat Ltd.
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Dalmia Bharat Ltd. Corporate Events
Dalmia Bharat Files Q4 FY26 Earnings Call Transcript With Exchanges
May 1, 2026
Dalmia Bharat Limited has submitted to stock exchanges the official transcript of its Q4 FY26 earnings conference call, covering the quarter and full year ended March 31, 2026. The transcript, which features remarks from top management including t...
Dalmia Bharat Shifts Q4 FY26 Earnings Call to Zoom Without Changing Schedule
Apr 23, 2026
Dalmia Bharat has notified stock exchanges that its upcoming investors and analysts group conference, linked to the release of audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, will proceed as sch...
Dalmia Cement Subsidiary Wins Release of ED-Attached Land After PMLA Ruling
Apr 22, 2026
Dalmia Bharat said its material subsidiary Dalmia Cement (Bharat) Ltd. has secured the release of all land parcels earlier provisionally attached by the Enforcement Directorate, Hyderabad, under the Prevention of Money Laundering Act. The release ...
Dalmia Bharat Flags Kiln Breakdown That Hit Eastern Cement Sales
Mar 29, 2026
Dalmia Bharat Limited reported an operational disruption following a sudden breakdown of one of its three kilns at Rajgangpur, Odisha, on March 13, 2026, which supplies a major share of clinker to its grinding units in Odisha, West Bengal and Jhar...
Dalmia Cement Faces GST ITC Tax Demands, Plans to Appeal
Mar 26, 2026
Dalmia Cement (Bharat) Ltd., a wholly owned subsidiary of Dalmia Bharat Ltd., has received two tax orders relating to disallowance of input tax credit for FY 2019-20 under the Central and state Goods and Services Tax Acts. Authorities in Uttar Pra...
Dalmia Bharat Subsidiary Wins Major Relief as PMLA Tribunal Slashes ED Proceeds-of-Crime Claim
Mar 11, 2026
Dalmia Cement (Bharat) Ltd., a material wholly owned subsidiary of Dalmia Bharat, has received a final order from the PMLA Appellate Tribunal that partially allows its appeal against an Enforcement Directorate provisional attachment. The Tribunal ...
Dalmia Bharat to Join Morgan Stanley Virtual India Materials Seminar
Mar 3, 2026
Dalmia Bharat Ltd. has announced that its management will participate in the Morgan Stanley Virtual India Materials Seminar on March 10, 2026, in a virtual group meeting format with analysts and institutional investors. The company emphasized that...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.