Dalmia Bharat Ltd. · NSE:DALBHARAT
Dalmia Bharat — Q1 FY2026 Earnings Presentation
31 slides from Dalmia Bharat's earnings presentation, Jul 23, 2025
Slide 1: Exchange filing cover letter: Earnings Release / Investor Presentation Q1 FY26
1010/02 July 23, 2025 BSE Limited National Stock Exchange of India Limited P J Towers, Dalal Street, “Exchange Plaza”, Plot No. C-1, Block G Fort Mumbai-400001 Bandra – Kurla Complex, Bandra(East), Scrip Code: 542216 Mumbai – 400 051 Symbol: DALBHARAT Subject: Earnings Release / Investor Presentatio
Slide 2: Earnings Release – Q1FY26
(T Dalmia’ Bharat Limited HIRAKUD —. HOLLONG] ==, AIRSTRIP SY v/ = ag |e.” EARNINGS RELEASE — Q1FY26
Slide 3: Disclaimer
Disclaimer Certain statements in this presentation describing the Company's objectives, projections, estimates and expectations may be 'forward looking statements' within the meaning of applicable laws and regulations. Although our expectations are based on reasonable assumptions, these forward-look
Slide 4: Section Page
Section Page Key Highlights 4 Expansion & Capex Update 6 Q1FY26 Performance 12 ESG & Others 22 Annexures 27
Slide 5: Key Highlights
01 Key Highlights
Slide 6: Key Highlights
Key Highlights Financial Performance ▪ Sales Volume stood at 7.0 MnT during the quarter ▪ EBITDA improved 32% YoY to Rs 883 Cr (Highest ever Quarterly EBITDA); EBITDA/T improved 40% YoY to Rs 1,261 ▪ NSR/T Increased by 6.6% YoY to Rs 5,193 ▪ Net Debt/EBITDA stood at 0.33x as on June 30, 2025 Capacit
Slide 7: Expansion & Capex Update
02 Expansion & Capex Update
Slide 8: New Expansion & Capex Update
New Expansion & Capex Update Integrated Unit: Kadapa, Andhra Pradesh Bulk Terminal: Chennai, Tamil Nadu Clinker: 3.6 MnTPA at Kadapa Cement: 6.0 MnTPA at Kadapa (Bulk Terminal: 3.0 MnTPA) Capex Cost Rs 3,287 Cr Expected commissioning Q2 FY28 7
Slide 9: Rationale for Kadapa & Chennai Expansion
Rationale for Kadapa & Chennai Expansion Existing Capacity of 3.6 MnTPA at Kadapa already operating at High Utilization levels Large cities within 300-400 kms of Kadapa including Bangalore & Chennai Kadapa unit will help strengthen our presence in Andhra Pradesh and Southern Karnataka markets Volume
Slide 10: Inching towards the milestone
Inching towards the milestone (in MnTPA) 75.0 6.0 61.5 55.5 3.0 3.0 49.5 +3.0 MnT Pune, MH +6.0 MnT +3.0 MnT Kadapa, AP Belgaum, KA +Bulk Terminal Chennai, TN Greenfield FY25 Belgaum, Pune, FY27 Kadapa, Q2 FY28 FY28e Brownfield KA MH AP Milestone 3 MnTPA Bulk Terminal 9
Slide 11: Clinker Capacity Expansion Plan
Clinker Capacity Expansion Plan Figures in MnT South East North East West Total FY25 10.4 8.3 2.7 2.1 23.5 FY26 10.4 8.3 6.3 2.1 27.1 FY27 14.0 8.3 6.3 2.1 30.7 Q2 FY28 17.6 8.3 6.3 2.1 34.3 10
Slide 12: Key Milestones of Growth Projects
Key Milestones of Growth Projects Project Umrangso, Assam Belgaum, Karnataka Kadapa, Andhra Pradesh Pune, Maharashtra Capacity Clinker Capacity - 3.6 MnTPA Clinker Capacity - 3.6 MnTPA Clinker Capacity - 3.6 MnTPA Cement Capacity – 6 MnTPA Cement Capacity – 6 MnTPA (Bulk Terminal – 3 MnTPA at Chenna
Slide 13: Q1 FY26 Performance
03 Q1 FY26 Performance
Slide 14: Quarterly Sales Volume (MnT)
Quarterly Sales Volume (MnT) Decline: 5.8% Decline: 18.2% 8.6 7.4 7.0 Q1FY25 Q4FY25 Q1FY26 Sales volume declined by 5.8% on YoY basis (0.4 MnT - Jaypee tolling volumes discontinued since July’24) 13
Slide 15: Quarterly Revenue (Rs Cr)
Quarterly Revenue (Rs Cr) Increase: 0.4% Decline: 11.1% 4,091 3,621 3,636 Q1FY25 Q4FY25 Q1FY26 Revenue - flattish on YoY basis as increase in cement prices & better price positioning is offset by lower volumes 14
Slide 16: Quarterly Cost of Raw Material Consumed (Rs/T)
Quarterly Cost of Raw Material Consumed^ (Rs/T) Increase : 1.5% Increase: 6.4% 779 * 791 743 Q1FY25 Q4FY25 Q1FY26 Largely due to Mineral Bearing Land Tax imposed by Tamil Nadu government on limestone at Rs 160/T since 4th April 2025 *Excluding the Cost of Purchases from Jaiprakash Associates, our Ra
Slide 17: Quarterly Power & Fuel Cost (Rs/T)
Quarterly Power & Fuel Cost^ (Rs/T) Decline: 2.2% Increase : 3.8% 1,003 981 945 Q1FY25 Q4FY25 Q1FY26 ➢ Fuel consumption cost declined from $106/T in Q1 FY25 ($95/T in Q4 FY25) to $100/T in Q1 FY26 ➢ Share of RE power improved to 41.2% ^ Basis Cement Production (not sales volume) 16
Slide 18: Quarterly Logistics Cost (Rs/T)
Quarterly Logistics Cost (Rs/T) Increase: 1.6% Flat 1,117 1,135 1,135 Q1FY25 Q4FY25 Q1FY26 Logistics cost increased on YoY basis due to increase in Lead distance partially offset by increase in Direct Dispatch % 17
Slide 19: Total Cost (Rs/T)
Total Cost (Rs/T) Decrease : 1.0% Increase : 2.1% 3,973 3,932 3,852 Q1FY25 Q4FY25 Q1FY26 Dalmia Bharat consistently upholds its position as one of the lowest total cost producer 18
Slide 20: Quarterly EBITDA (Rs Cr)
Quarterly EBITDA (Rs Cr) Increase: 31.9% Increase: 11.3% 1,00 0 40. 0% 900 883 35. 0% 793 800 30. 0% 700 669 25. 0% 600 24.3% 20. 0% 500 18.5% 19.4% 15. 0% 400 10. 0% 300 5.0 % 200 0.0 % Q1FY25 Q4FY25 Q1FY26 EBITDA (Rs Cr) EBITDA Margin % ➢ Highest Ever Quarterly EBITDA of Rs 883 Cr ➢ EBITDA increas
Slide 21: Debt Position
Debt Position Net Debt / EBITDA 0.30x 0.33x (Rs Cr) Mar’25 June’25 Issued NCDs worth Rs 950 Cr at weighted average cost of 7.5%, led to increase in Gross debt and Cash & cash equivalents * Includes MTM value of IEX Investment (Q4FY25: Rs 2,339 Cr; Q1FY26: Rs 1,861 Cr); divested 4.1% holding in IEX L
Slide 22: Finance Cost
Finance Cost Q1 FY26 (Rs Cr) Cost of Borrowing : 7.5% Q1 FY25 (Rs Cr) Cost of Borrowing : 8.3% 21
Slide 23: ESG & Others
04 ESG & Others
Slide 24: Renewable Power Update
Renewable Power Update (in MW) 576 Group Captive Solar WHRS 316* Commissioned 26 MW of group captive renewable energy in Q1 294 FY26 267 59 85 185 166 Operational RE capacity is expected to reach 576 MW by the 172 end of FY26 63 100 113 136 136 32 32 17 31 66 72 72 72 88 FY20 FY21 FY22 FY23 FY24 FY2
Slide 25: ESG at Dalmia Bharat
ESG at Dalmia Bharat CO2 Emission 452 (kg/ton of cementitious material) Water Positivity* 23x (Times) Renewable Energy Consumption 41.2% 80 ICRA ESG Rating Exceptional Data for Q1 FY26; *For FY25 24
Slide 26: CSR at Dalmia Bharat
CSR at Dalmia Bharat Climate Action: ▪ Provided 1.4 lacs bamboo shoots (in partnership project with GIZ), covering 400+ households spread across 19 villages in the Umrangso, Assam, with potential to increase income by Rs 60,000 p.a. (full-grown bamboo shoot will annually reduce a minimum of ~21 lacs
Slide 27: Sustainability Awards
Sustainability Awards 13th Mines Environment & Mineral Excellence in Safety Standards in the National Safety Council of India Award Conservation Week Lifting Industry ➢ First Prize in Overall Performance ➢ Certificate of Appreciation for ➢ Golden Hook Award For successful Excellence in Occupational
Slide 28: Annexure
05 Annexure
Slide 29: Operational performance (basis cement production)
Operational performance (basis cement production) (Rs/T) Particulars Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Cost of Raw Material Consumed 779* 789 765 743 791 Power & Fuel 1,003 1,012 1,005 945 981 *Excluding the Cost of Purchases from Jaiprakash Associates, Our Raw Material Cost in Q1 FY25 was Rs
Slide 30: Impact on PBT due to Goodwill Amortization (Restructuring Related)
Impact on PBT due to Goodwill Amortization (Restructuring Related) (Rs Cr) Q1FY25 Q1FY26 With Without With Without Restructuring Restructuring Restructuring Restructuring Income from Operations 3,621 3,621 3,636 3,636 Less:-Operating Expenses 2,952 2,952 2,753 2,753 EBITDA 669 669 883 883 Add:- Othe
Slide 31: Thank You
Thank You CHENNAI HIRAKUD METRO DAM BIRSA MUNDA STADIUM HOLLONGI AIRSTRIP DHOLA Contact Information SADIYA BRIDGE o: 11th & 12th floor, Hansalaya Building, 15, Barakhamba Road, New Delhi – 110001 e: investorrelations@dalmiabharat.com w: www.dalmiabharat.com