Dalmia Bharat Reports FY25 Results; Reaches 49.5 MTPA Cement Capacity

24 Apr 2025 CW Team

Performance highlights (FY25 vs FY24):

Sales volume rose by 2% YoY to 29.4 MnT despite a 3% drop in Q4 volumes due to discontinuation of JP tolling volumes.
Income from operations fell 4.8% YoY to Rs 139.8 billion.
EBITDA dropped by 8.8% YoY to Rs 24.07 billion, while PAT declined 18.1% YoY to Rs 6.99 billion.
Net Debt to EBITDA ratio stood at a healthy 0.3x, reflecting robust financial discipline.
EBITDA per ton came in at Rs 820, down from Rs 917 YoY.

Despite weaker pricing trends, the company recorded a 21.3% YoY increase in EBITDA for Q4FY25 at Rs 7.93 billion, aided by its cost control measures and increased renewable energy usage.

Strategic milestones:

Achieved an installed cement capacity of 49.5 MTPA, with recent commissions in Lanka (Assam) and Rohtas (Bihar).
Announced Rs 35.2 billion investment for a 6 MTPA capacity expansion, including:
A 3.6 MTPA clinker unit and 3 MTPA grinding unit at Belgaum, Karnataka.
A new 3 MTPA grinding unit at Pune, Maharashtra.
Renewable energy (RE) usage increased, with 267 MW of operational RE capacity and a target to reach 595 MW by FY26. RE share in energy consumption rose to 36.4%.
Dalmia continues to maintain one of the lowest global carbon footprints at 465 kg CO₂/ton of cement.

Leadership commentary:

Managing Director & CEO Puneet Dalmia expressed optimism about India's cement demand outlook and reaffirmed the company’s commitment to “profitable growth” through capacity additions, cost leadership, and sustainability. CFO Dharmender Tuteja highlighted the company’s resilient margin performance despite pricing headwinds and reiterated readiness for the next phase of growth, backed by a strong balance sheet.

Key recognitions:

Dalmiapuram Mines won first prize for sustainable mining at the MEMC Awards.
Lanka Cement Works received a safety excellence certificate from the National Safety Council of India.
At the FAME National Awards:
Meenakshi Cement Works was honored for Safety Culture and Environmental Excellence.
Rohtas Cement Works received recognition for Occupational Health and Safety.

Dividend:

The Board recommended a final dividend of Rs 5 per share (250%) for FY25, subject to shareholder approval.

Dalmia Bharat's Q4 and FY25 performance reinforces its ambition to lead the industry through innovation, sustainable operations, and strategic expansion into high-potential markets in Western and Southern India.

Dalmia Bharat Ltd, one of India’s leading cement manufacturers, reported its consolidated financial results for Q4 and full-year FY25, emphasising its strategic focus on profitable growth, capacity expansion, and sustainability.Performance highlights (FY25 vs FY24):Sales volume rose by 2% YoY to 29.4 MnT despite a 3% drop in Q4 volumes due to discontinuation of JP tolling volumes.Income from operations fell 4.8% YoY to Rs 139.8 billion.EBITDA dropped by 8.8% YoY to Rs 24.07 billion, while PAT declined 18.1% YoY to Rs 6.99 billion.Net Debt to EBITDA ratio stood at a healthy 0.3x, reflecting robust financial discipline.EBITDA per ton came in at Rs 820, down from Rs 917 YoY.Despite weaker pricing trends, the company recorded a 21.3% YoY increase in EBITDA for Q4FY25 at Rs 7.93 billion, aided by its cost control measures and increased renewable energy usage.Strategic milestones:Achieved an installed cement capacity of 49.5 MTPA, with recent commissions in Lanka (Assam) and Rohtas (Bihar).Announced Rs 35.2 billion investment for a 6 MTPA capacity expansion, including:A 3.6 MTPA clinker unit and 3 MTPA grinding unit at Belgaum, Karnataka.A new 3 MTPA grinding unit at Pune, Maharashtra.Renewable energy (RE) usage increased, with 267 MW of operational RE capacity and a target to reach 595 MW by FY26. RE share in energy consumption rose to 36.4%.Dalmia continues to maintain one of the lowest global carbon footprints at 465 kg CO₂/ton of cement.Leadership commentary:Managing Director & CEO Puneet Dalmia expressed optimism about India's cement demand outlook and reaffirmed the company’s commitment to “profitable growth” through capacity additions, cost leadership, and sustainability. CFO Dharmender Tuteja highlighted the company’s resilient margin performance despite pricing headwinds and reiterated readiness for the next phase of growth, backed by a strong balance sheet.Key recognitions:Dalmiapuram Mines won first prize for sustainable mining at the MEMC Awards.Lanka Cement Works received a safety excellence certificate from the National Safety Council of India.At the FAME National Awards:Meenakshi Cement Works was honored for Safety Culture and Environmental Excellence.Rohtas Cement Works received recognition for Occupational Health and Safety.Dividend:The Board recommended a final dividend of Rs 5 per share (250%) for FY25, subject to shareholder approval.Dalmia Bharat's Q4 and FY25 performance reinforces its ambition to lead the industry through innovation, sustainable operations, and strategic expansion into high-potential markets in Western and Southern India.

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