Dalmia Bharat Reports Q2 Revenue Of Rs 3,563 Crore Amid Operational Headwinds
Mumbai, October 27, 2026: Cement manufacturer Dalmia Bharat Limited reported a 4 percent year-on-year rise in consolidated revenue from operations to Rs 3,563 crore for the second quarter ended September 30, 2026, up from Rs 3,417 crore in the corresponding period of the previous fiscal year, according to a press release issued by the company.
Sales volume for the quarter grew 3 percent year-on-year to 7.1 million tonnes (MnT) compared to 6.9 MnT in Q2 FY26. However, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) fell 29 percent to Rs 493 crore from Rs 696 crore in the year-ago period, with EBITDA per tonne standing at Rs 698. The company posted a net loss of Rs 205 crore for the quarter, impacted by exceptional items amounting to Rs 339 crore, compared to a net profit of Rs 239 crore in Q2 FY26.
For the first half of the financial year (H1 FY27), total revenue from operations increased 6 percent year-on-year to Rs 7,453 crore, while sales volume reached 14.7 MnT. Net loss for the half-year period stood at Rs 13 crore compared to a net profit of Rs 634 crore in H1 FY26. The company’s net debt-to-EBITDA ratio was recorded at 2.0x.
On the expansion front, trial runs commenced at the 3.6 MnTPA Belgaum Clinker Unit in October, with a 3 MnTPA cement mill expected to begin trial runs soon. Additionally, the Committee of Creditors approved a resolution plan submitted by subsidiary Dalmia Cement (Bharat) Limited for Bhilai Jaypee Cement Limited under the Insolvency and Bankruptcy Code. In line with its capital allocation framework, the board declared an interim dividend of Rs 4 per share.
“India continues to demonstrate remarkable resilience despite global headwinds. Robust economic activity, supported by sustained public spending, drove broad-based growth. Cement demand too recorded healthy growth during the quarter, reinforcing my confidence in the industry’s long-term prospects. In this backdrop, our capacity expansion plans remain firmly on track while we make strong progress on integration of Central assets. Looking ahead, we remain focused on executing our strategic priorities, deepening our operational excellence and maintaining financial discipline to deliver sustainable and superior returns for our stakeholders,” said Puneet Dalmia, Managing Director & CEO, Dalmia Bharat Limited.
“We achieved 4% YoY revenue growth during the quarter on the back of volume growth and better realization. Demand challenges in a few of our key markets along with macro-economic cost headwinds impacted EBITDA for the quarter. While the operating environment continues to remain challenging, we are hopeful that positive momentum on cement prices and our consistent focus on cost optimization will help mitigate cost pressures. Financial discipline remains central to profitable growth. Guided by this, we continue to sharpen our focus on prudent capital allocation and disciplined execution to build a strong financial foundation for Dalmia’s next phase of growth,” said Yatin Malhotra, Chief Financial Officer, Dalmia Bharat Limited.
