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29 Aug 2025 |
Dalmia Bharat
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Consensus Share Price Target
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2401.50 |
2314.49 |
- |
-3.62 |
buy
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12 Aug 2025
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Dalmia Bharat
|
Geojit BNP Paribas
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2401.50
|
2569.00
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2253.40
(6.57%)
|
6.97 |
Buy
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Author: Vincent K A - Sr. Research Analyst DBL aims to reach approximately 75 MT by FY28 while maintaining financial discipline with a net debt to EBITDA cap of 2x (currently at 0.33x). DBL is also prioritizing the enhancement of its renewable energy (RE) portfolio, with operational RE capacity (including group captive) reaching 267 MW in FY25, up from 185 MW in FY24. The stock currently trades at 1Yr Fwd EV/EBITDA...
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24 Jul 2025
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Dalmia Bharat
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Axis Direct
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2401.50
|
2550.00
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2269.10
(5.83%)
|
6.18 |
Buy
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We maintain our BUY recommendation on the stock.
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23 Jul 2025
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Dalmia Bharat
|
Prabhudas Lilladhar
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2401.50
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2395.00
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2269.70
(5.81%)
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-0.27 |
Accumulate
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Dalmia Bharat (DALBHARA) reported a strong operating performance in Q1FY26, driven by better pricing. Average NSR rose 8.7% QoQ, aided by price recovery in the Eastern and Southern regions post Mar'25. Volumes remained flat YoY (ex-tolling) with the company's focus on profitable volume growth. Higher prices and lower traded goods led to EBITDA/t rising to Rs1,261. Cement...
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23 Jul 2025
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Dalmia Bharat
|
Motilal Oswal
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2401.50
|
2660.00
|
2269.70
(5.81%)
|
10.76 |
Buy
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Dalmia Bharat’s (DALBHARA) 1QFY26 EBITDA grew ~32% YoY to INR8.8b (9% beat, led by lower-than-estimated opex/t). EBITDA/t increased 40% YoY to INR1,261 (~12% above our estimate), and OPM expanded 5.8pp/4.9pp YoY/ QoQ to ~24% (vs. est. ~22%).
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26 Jun 2025
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Dalmia Bharat
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Prabhudas Lilladhar
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2401.50
|
2273.00
|
2191.80
(9.57%)
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Target met |
Accumulate
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Cement demand remains muted especially in the key Eastern region where demand is struggling over last 5 quarters. Despite regime change in Odisha and upcoming elections in West Bengal, demand remained muted in last few months. East region prices improved in Apr/May along with other regions by ~Rs20/bag and got cut by Rs5 in June due to early monsoon however current...
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17 Jun 2025
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Dalmia Bharat
|
Axis Direct
|
2401.50
|
2360.00
|
2062.00
(16.46%)
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Target met |
Buy
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We reiterate our BUY recommendation with a Target Price of Rs 2360/share, offering an upside potential of 13% from the CMP.
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12 May 2025
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Dalmia Bharat
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Geojit BNP Paribas
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2401.50
|
2212.00
|
1980.90
(21.23%)
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Target met |
Buy
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29 Apr 2025
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Dalmia Bharat
|
Sharekhan
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2401.50
|
2300.00
|
1954.80
(22.85%)
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Target met |
Buy
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For Q4FY2025, Dalmia Bharat Limited’s (Dalmia) consolidated revenue of Rs. 4,091 crore (down 5.0% y-o-y) missed our estimate, primarily due to a 2.8% y-o-y decline in cement volumes (excluding JPA tolling volumes of 0.6 mt).
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28 Apr 2025
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Dalmia Bharat
|
Asit C Mehta Investment Interrmediates
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2401.50
|
2328.00
|
1965.90
(22.16%)
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Target met |
Buy
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We initiate coverage on Dalmia Bharat with a Buy Rating because of its reasonable valuation as compared to its peers, its leadership position in the high growth region like North-East, strong presence in South & East. Besides, its continuous expansion, improving financials and the company’s focus on being carbon negative will continue to drive growth.
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25 Apr 2025
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Dalmia Bharat
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Axis Direct
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2401.50
|
2260.00
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1965.90
(22.16%)
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Target met |
Buy
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We maintain our BUY recommendation on the stock.
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25 Apr 2025
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Dalmia Bharat
|
Prabhudas Lilladhar
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2401.50
|
2117.00
|
1965.90
(22.16%)
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Target met |
Accumulate
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annually for DALBHARA (has 9.9mtpa cement capacity in TN). Dalmia Bharat (DALBHARA) reported a decent operating performance in Q4FY25, led by a sharp sequential volume recovery (28%) driven by government spending and pent-up demand post the festive season. Average NSR improved by just 1.1% QoQ, as the decline in prices in the Southern region price, which should aid H1FY26 earnings. Lower operating costs aided by...
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25 Apr 2025
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Dalmia Bharat
|
BOB Capital Markets Ltd.
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2401.50
|
1742.00
|
1965.90
(22.16%)
|
27.46 |
Sell
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Revenue declined by 5% YoY (+30% QoQ) to ~Rs 41bn, as volume growth stunted and realisations fell despite slower volume gains
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24 Apr 2025
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Dalmia Bharat
|
Motilal Oswal
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2401.50
|
2300.00
|
1974.10
(21.65%)
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Target met |
Buy
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Dalmia Bharat (DALBHARA)’s 4QFY25 EBITDA increased ~21% YoY to INR7.9b (6% miss, due to lower-than-estimated volume). EBITDA/t was up ~24% YoY at INR922 (est. INR946).
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04 Mar 2025
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Dalmia Bharat
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Axis Direct
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2401.50
|
2180.00
|
1699.25
(41.33%)
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Target met |
Buy
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We maintain our BUY rating on the stock
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28 Jan 2025
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Dalmia Bharat
|
Geojit BNP Paribas
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2401.50
|
2060.00
|
1813.20
(32.45%)
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Target met |
Buy
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23 Jan 2025
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Dalmia Bharat
|
Axis Direct
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2401.50
|
2000.00
|
1828.35
(31.35%)
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Target met |
Buy
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We maintain our BUY recommendation on the stock
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22 Jan 2025
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Dalmia Bharat
|
Motilal Oswal
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2401.50
|
2100.00
|
1799.05
(33.49%)
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Target met |
Buy
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Dalmia Bharat (DALBHARA)’s 3QFY25 EBITDA declined 34% YoY to INR5.1b (11% miss due to lower-than-estimated volume and higher variable cost/t). EBITDA/t was down 33% YoY to INR767 (est. INR800).
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12 Dec 2024
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Dalmia Bharat
|
BOB Capital Markets Ltd.
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2401.50
|
1773.00
|
1935.25
(24.09%)
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Target met |
Sell
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DALBHARA's presence in East and South India may be hit by excess supply; we factor in 1% price hikes in FY26/FY27 after a dent in FY25
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25 Nov 2024
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Dalmia Bharat
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Geojit BNP Paribas
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2401.50
|
2080.00
|
1826.80
(31.46%)
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Target met |
Buy
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22 Oct 2024
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Dalmia Bharat
|
Axis Direct
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2401.50
|
2040.00
|
1804.45
(33.09%)
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Target met |
Buy
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We maintain our BUY rating on the stock with a TP of Rs 2040/share, implying an upside of 11% from the CMP.
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