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Dalmia Bharat Q4: Short-term headwinds getting priced in

A near-term revival in profitability for Dalmia Bharat appears unlikely as the inability of cement makers to push up prices, especially in a weakening demand environment, will continue to hurt operating margins for the coming 2-3 quarters

May 31, 2022 / 09:44 AM IST
Dalmia Bharat Q4: Short-term headwinds getting priced in

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

The March-quarter results of Dalmia Bharat, India’s fourth largest cement maker, were in line with the industry peers. While volume growth was muted due to the slowdown in infrastructure and housing activities, the margin performance was quite noteworthy considering the significant input cost inflation over the past year. Quarterly result highlights In Q4, the company grew its sales by 7 percent year-on-year(YoY) compared with a very strong Q4 FY21, thanks to a balanced mix of both value and volumes. Overall...

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