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Dalmia Bharat -- Ambitious growth plan gets premium valuation match

The management of Dalmia Bharat has executed its growth strategy well and is ambitiously aiming to grow at a 15-20 per cent CAGR over the long term

July 30, 2021 / 05:51 PM IST
Dalmia Bharat -- Ambitious growth plan gets premium valuation match

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PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Dalmia Bharat, India’s fourth-largest cement maker, delivered a muted set of earnings in the June quarter.  The volume growth significantly lagged its key domestic peers, but the margins held firm despite cost headwinds. Quarterly result highlights (image) Dalmia Bharat’s quarterly revenues declined 24 per cent quarter-on-quarter (QoQ) to 4.9 MT as business activity was hampered by the second Covid wave. Moreover, the company lost some market share due to maintenance related plant shutdowns. While volumes came in a bit soft, the...

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