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Odisha Cement Ltd.

BSE: 533309 | NSE: DALMIABHA | Series: NA | ISIN: INE439L01019 | SECTOR: Cement - Major

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Nov 28, 16:00
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Odisha Cement Limited is not traded on BSE in the last 30 days

NSE Live

Nov 28, 15:59
2372.90 0.00 (0.00%)
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    2372.90 (18929)

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Odisha Cement Limited is not traded on NSE in the last 30 days

Annual Report

For Year :
2017 2016 2015 2014 2013 2012 2011

Chairman's Speech

When most people engage with each other, the relationship in most cases remains functional. With respect to commercial transactions, this is even more so; in most cases, the engagement is limited to the basic exchange of goods and services rendered.

At Dalmia Bharat, we recognised the limitation of such an approach. We recognised that unless we strengthened our business model to enhance the profitability or take-home value for our stakeholders, we would be reduced to the generic, or like any other principal company.

And that is the Dalmia Bharat value system that we strengthened: the confidence to demand value from stakeholders only after we have generated larger value for our stakeholders in the first place. Take a small instance: we focused on servicing our trade partners with quicker product replenishment; this made it possible for them to work with a lower working capital outlay; in turn, this made them achieve higher revenues with the same quantum of financial resources, strengthening profitability and helping unleash the trade partner''s larger potential.

Beyond business

Over the years, what has made us different is that our executives who engage with our

trade partners are encouraged to extend their relationship beyond business; they are encouraged to take an interest in the larger well-being of the trade partner''s life, business or family; they are encouraged to offer advice and support in areas that extend beyond the transaction. In doing so, we believe that a number of our sales and distribution executives have long outlived the narrow description of their job profiles and functions; they have emerged as friends-philosophers-guides for the thousands of our trade partners. They are perceived as individuals who help unleash the potential of our stakeholders.

Shareholder value driver

Besides, the Company acquired shareholding of Kohlberg Kravis Roberts in Dalmia Cement (Bharat) Limited and brought KKR in as a shareholder in Dalmia Bharat (8.5%), making it the largest foreign institutional investor. The divestment of KKR from the cement operations and investment in the holding company reinforced a sense of trust and partnership, enhancing structural clarity. This enhanced public float in a listed company, attracting reputable institutional shareholders, helping unleash the value of the equity of the Company. The restructuring of Dalmia Bharat Group, expected to be completed by end of FY18, would not only strengthen and consolidate our position as one of the leading cement players in India but also enhance the shareholders'' value as the shareholders of the Company would receive two shares of the merged entity for every one share held.

Responsible nation builder

The Company strengthened its brand as a responsible nation builder, manufacturing cement in line with the highest quality standards. Besides, the Company introduced a wider brands complement addressing the specific needs of customers, making it possible to unleash the true potential of their structures.

People builder

As a potential-focused management, we

believe that it is imperative to grow people from within; in turn, our people collaborate and co-operate; our team-working within a location and pan-organisation-working locations makes it possible to transform standalone learnings into a transformer of best practices. This approach ensures that we enrich the potential of our people which, in turn, extends outward to touch all our stakeholders.

At Dalmia Bharat, this philosophy is validated most unambiguously in our ability to perform better than our retrospective performance average.

If, over the last few years, we have been able to acquire four companies and integrate them successfully, each time with a shorter learning curve, then this achievement has been derived from our ability to empower, trust, educate and de-risk.

If, over the last few years, we have been able to report possibly the lowest carbon footprint in the global cement industry, then this benchmark performance has been achieved because we have outlined challenging targets and empowered our people to find the best way to get us there.

If, over the last few years, we have performed better than our sectoral growth average, it is because we have continuously been driven by the belief that nothing is impossible.

This then is the deeper import of the message that we wish to convey: if we have emerged as the fastest growing large cement company in India and one of the most responsible corporates, then it is only because we placed our stakeholder first with the objective to unleash his / her potential.

Optimistic of prospects

At Dalmia Bharat, we are optimistic of our prospects. We believe that India is at the cusp of a significant transformation: we see the structural correction (through demonetisation and GST implementation) as a platform for robust and sustainable

national growth. We also believe that private capital expenditure will gradually witness pick-up; sustained increase in personal incomes will continue to drive home-building and; we expect the government to extend higher tax collections into stronger infrastructure spending. The Company is adequately invested for the moment, is attractively placed to capture the demanding upturn in the regions of its presence and will enhance its capacity utilisation (operating leverage) in line with growing demand, which we believe will translate into superior value.


We must thank the stakeholders of the Company - Government, bankers, equity partners, Board of Directors, employees and community members - for their guidance, support and faith in our prospects. We are optimistic that we will be able to live up to their trust and help each of our stakeholders unleash the true value of our relationship with them.

PuneetYadu Dalmia Gautam Dalmia