Dalmia Bharat Limited has fulfilled its regulatory obligations by submitting the mandatory compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The submission was made on April 7, 2026, ensuring adherence to prescribed regulatory timelines.

Regulatory Compliance Framework

The compliance certificate was issued by KFin Technologies Limited, serving as the company's registrar and transfer agent. This certificate confirms that all required details of securities dematerialized and rematerialized during the quarter have been properly furnished to relevant stock exchanges where Dalmia Bharat's shares are listed.

Stock Exchange and Depository Notifications

The compliance documentation was submitted to multiple regulatory bodies and market infrastructure institutions. BSE Limited received the certificate referencing scrip code 542216, while the National Stock Exchange of India Limited was notified using symbol DALBHARAT.

Depository Communications

KFin Technologies Limited, through Deputy Vice President Bhaskar Roy, issued separate certificates to both major depositories on April 1, 2026. The certificates were addressed to:

• National Securities Depository Limited (NSDL): Located at Trade World, Kamala Mills Compound, Lower Parel, Mumbai
• Central Depository Services (India) Limited (CDSL): Situated at Marathon Futurex, Lower Parel (East), Mumbai

Corporate Structure and Operations

Dalmia Bharat Limited operates from its corporate office located at the 11th and 12th floors of Hansalaya Building, Barakhamba Road, New Delhi. The company's registered office remains at Dalmiapuram, Tiruchirapalli District, Tamil Nadu.

The regulatory filing demonstrates the company's commitment to maintaining transparency and compliance with SEBI regulations governing depositories and participants, ensuring proper documentation of all securities transactions during the specified quarter.

DAM Capital Advisors has upgraded Dalmia Bharat from Neutral to Buy rating, accompanied by a target price of Rs 2,030.00. The rating upgrade reflects the brokerage's optimistic outlook on the cement sector's pricing dynamics and the company's positioning for profitability recovery.

Rating Upgrade Details

The key factors driving DAM Capital's rating revision center around anticipated pricing improvements in the cement industry. The brokerage expects cement price hikes of Rs 30.00-50.00 per bag across various regions, with implementation expected from April 2026.

Sector Profitability Outlook

DAM Capital's analysis suggests that the anticipated price increases will play a crucial role in offsetting cost inflation pressures that have been impacting cement manufacturers. The brokerage believes these pricing adjustments will support sector-wide profitability recovery, creating a more favorable operating environment for cement companies.

The expected price hikes across regions indicate a coordinated industry approach to address margin pressures and restore sustainable profitability levels. This pricing strategy is viewed as essential for maintaining operational efficiency while managing inflationary cost pressures in raw materials and energy.