Dalmia Bharat Ltd. (IN:DALBHARAT)
:DALBHARAT
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Dalmia Bharat Ltd.
(DALBHARAT)
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Rating:56Neutral
Price Target:
₹1,982.00
▼(-6.98% Downside)
Action:ReiteratedDate:10/21/25
Dalmia Bharat Ltd.'s overall score is primarily influenced by its solid financial performance, despite challenges in net margins and cash flow. The technical analysis indicates bearish momentum, and the valuation suggests potential overvaluation, which impacts the overall attractiveness of the stock.
Positive Factors
Consistent Revenue Growth
Sustained top-line growth and disciplined cost control support durable cash generation potential and scale economies in cement manufacturing. Consistent revenue expansion underpins channel relationships and provides capacity to fund maintenance and selective expansion without relying solely on short-term market cycles.
Negative Factors
Declining Net Margins
Erosion in net and EBIT margins points to rising operating or fixed costs, or weaker pricing power versus peers. Persisting margin compression would limit ability to convert revenue growth into shareholder returns and reduce headroom for absorbing further input-cost increases over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
Sustained top-line growth and disciplined cost control support durable cash generation potential and scale economies in cement manufacturing. Consistent revenue expansion underpins channel relationships and provides capacity to fund maintenance and selective expansion without relying solely on short-term market cycles.
Read all positive factors
Dalmia Bharat Ltd. (DALBHARAT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹370.16B
Dividend Yield0.44%
Average Volume (3M)10.55K
Price to Earnings (P/E)82.0
Beta (1Y)1.04
Revenue Growth3.20%
EPS Growth110.64%
CountryIN
Employees5,945
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)20.90
Shares Outstanding187,565,950
10 Day Avg. Volume10,142
30 Day Avg. Volume10,548
Financial Highlights & Ratios
PEG Ratio-2.80
Price to Book (P/B)1.93
Price to Sales (P/S)2.40
P/FCF Ratio-61.25
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹2,504.00Price Target Upside17.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)70.31
Revenue Forecast (FY)₹166.15B
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 makes money mainly by manufacturing and selling cement. Revenue is generated from (1) sales to trade channels (dealers/retail network) that supply individual home-builders and small contractors, and (2) sales to non-trade or institut...
Dalmia Bharat Ltd. Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 143.25B | 139.80B | 146.91B | 135.52B | 112.86B | 101.10B |
| Gross Profit | 81.89B | 83.86B | 85.07B | 75.51B | 69.62B | 66.96B |
| EBITDA | 30.80B | 24.78B | 27.68B | 24.76B | 25.92B | 29.18B |
| Net Income | 11.25B | 6.83B | 8.26B | 10.35B | 8.16B | 11.71B |
Balance Sheet | ||||||
| Total Assets | 315.13B | 302.26B | 277.49B | 255.43B | 248.71B | 220.42B |
| Cash, Cash Equivalents and Short-Term Investments | 50.33B | 46.02B | 44.72B | 38.79B | 45.75B | 35.38B |
| Total Debt | 70.82B | 57.02B | 48.05B | 38.55B | 31.76B | 38.39B |
| Total Liabilities | 135.58B | 127.26B | 112.42B | 97.99B | 85.58B | 91.98B |
| Stockholders Equity | 176.79B | 173.74B | 163.97B | 156.28B | 160.61B | 128.10B |
Cash Flow | ||||||
| Free Cash Flow | -4.54B | -5.47B | -1.92B | -4.57B | 1.68B | 25.50B |
| Operating Cash Flow | 7.35B | 21.17B | 26.35B | 22.52B | 19.37B | 35.96B |
| Investing Cash Flow | -18.30B | -22.70B | -27.50B | -23.26B | -10.48B | -2.76B |
| Financing Cash Flow | 10.16B | -390.00M | 2.22B | 1.68B | -9.42B | -33.66B |
Dalmia Bharat Ltd. Technical Analysis
Neutral
2130.80
Price Trends
1970.94
Positive
2020.42
Negative
2127.34
Negative
Market Momentum
7.27
Negative
56.05
Neutral
89.75
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DALBHARAT, the sentiment is Neutral. The current price of 2130.8 is above the 20-day moving average (MA) of 1874.04, above the 50-day MA of 1970.94, and above the 200-day MA of 2127.34, indicating a neutral trend. The MACD of 7.27 indicates Negative momentum. The RSI at 56.05 is Neutral, neither overbought nor oversold. The STOCH value of 89.75 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
64 Neutral | ₹270.44B | 20.19 | ― | 0.43% | 19.28% | 2.01% | |
62 Neutral | ₹3.54T | 38.70 | ― | 0.66% | 19.67% | 24.67% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | ₹1.14T | 168.78 | ― | 0.37% | 19.27% | -18.26% | |
57 Neutral | ₹433.03B | 61.18 | ― | 0.27% | 17.65% | 41.56% | |
57 Neutral | ₹906.37B | 89.88 | ― | 0.73% | 6.21% | 46.50% | |
56 Neutral | ₹370.16B | 81.96 | ― | 0.44% | 3.20% | 110.64% |
* Basic Materials Sector Average
IN:DALBHARAT
Dalmia Bharat Ltd.
1,923.80
-15.43
-0.80%
IN:ACC
ACC Limited
1,440.35
-439.17
-23.37%
IN:AMBUJACEM
Ambuja Cements Limited
459.15
-78.28
-14.57%
IN:JKCEMENT
J.K. Cement Ltd.
5,477.10
367.43
7.19%
IN:SHREECEM
Shree Cement Limited
24,953.70
-4,635.10
-15.67%
IN:ULTRACEMCO
UltraTech Cement Limited
11,816.40
250.50
2.17%
Dalmia Bharat Ltd. Corporate Events
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...
Dalmia Bharat Schedules Key Investor and Analyst Meetings in February 2026
Feb 2, 2026
Dalmia Bharat Limited has announced that its management will participate in a series of analyst and institutional investor engagements in February 2026, including Axis Capital’s Flagship India Conference, IIFL’s 17th Enterprising India...
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.