Dalmia Bharat Q2 Results | Net profit slumps 61% to ₹49 crore, declares dividend of ₹4
In the corresponding quarter of the previous fiscal, Dalmia Bharat posted a net profit of ₹124 crore, the company said in a regulatory filing. The CNBC-TV18 poll had predicted a profit of ₹75 crore for the quarter under review.
The company’s revenue from operations dipped 2.1% to ₹3,087 crore as against ₹3,153 crore in the corresponding period of the preceding fiscal. The CNBC-TV18 poll had predicted revenue of ₹3,129 crore for the quarter under review.
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At the operating level, EBITDA dropped 26.8% to ₹434 crore in the second quarter of this fiscal over ₹593 crore in the corresponding period in the previous fiscal. The CNBC-TV18 poll had predicted an EBITDA of ₹476 crore for the quarter under review.
EBITDA margin stood at 14.1% in the reporting quarter as compared to 18.8% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. The CNBC-TV18 poll had predicted a margin of 15.2% for the quarter under review.
The board has declared an interim dividend at the rate of ₹4 (200%) per equity share on 18,75,47,629 equity shares of ₹2 each for the financial year 2024-25. Confirmed the Record Date i.e. Saturday, October 26, 2024, for determining entitlement of shareholders for payment of interim dividend for Financial Year 2024-25.
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Dalmia Bharat reported an 8.4% year-on-year increase in cement volume for Q2, reaching 6.7 million tonne (MnT). The company’s EBITDA per tonne stood at ₹650. Additionally, Dalmia Bharat continues to strengthen its renewable energy initiatives, with renewable energy consumption rising to 39% during the quarter.
The company executed new Renewable Power Agreements under Group Captive for a cumulative 151 MW, adding to the previously executed 127 MW. The company’s net debt to EBITDA ratio stood at a comfortable 0.25x.
Puneet Dalmia, Managing Director & CEO of Dalmia Bharat Ltd, said, “I believe that as India grows, the cement sector being a proxy, will continue to flourish. We are actively working to announce our Phase II expansions within the next 9 months and achieve our interim milestone of 75 MnT by FY28.”
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The results came after the close of the market hours. On October 18, the shares of Dalmia Bharat Ltd ended at ₹1,834.40, down by ₹0.95, or 0.052% on the BSE.
