Asit C Mehta report on Dalmia Bharat Ltd
We initiate coverage on Dalmia Bharat with a Buy Rating because of its reasonable valuation as compared to its peers, its leadership position in the high growth region like North-East, strong presence in South & East. Besides, its continuous expansion, improving financials and the company’s focus on being carbon negative will continue to drive growth.
Outlook
Dalmia is currently trading at 14.1x/12.1x FY26E/FY27E EV/EBITDA. We value the company at 14x on FY27E EBITDA and arrive at the target price of Rs 2,328, with an upside potential of 18.4% and assign a ‘BUY’ rating on Dalmia Bharat.
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