Dalmia Bharat Limited , India's fourth-largest cement manufacturer, has reported its highest ever quarterly EBITDA of ₹883.00 crore in Q1, marking a significant 32% increase from ₹669.00 crore in the same quarter of the previous year. The company's robust performance comes amidst its ambitious expansion plans and commitment to sustainability.

Financial Highlights

• Revenue per tonne increased to ₹5,193.00 from ₹4,622.00 in the corresponding quarter, reflecting a 12.4% growth.
• The company achieved an EBITDA per tonne of ₹1,261.00, compared to ₹901.00 in the same period last year, showcasing a substantial improvement in profitability.
• Total cost per tonne marginally decreased to ₹3,932.00 from ₹3,973.00 in the previous year's quarter, indicating effective cost management.

Expansion and Capacity Utilization

Dalmia Bharat currently operates 15 cement plants with a total capacity of 49.5 million tonnes per annum (MnTPA) across 23 states. The company has set an ambitious target to reach 75 MnTPA capacity by FY2028 and further expand to 110-130 MnT by 2031.

Key expansion projects include:

• Belgaum-Pune Expansion: A 3.6 MnTPA clinker unit with a 3 MnTPA grinding unit at the existing Belgaum plant, along with a greenfield 3 MnTPA split grinding unit in Pune.
• Kadapa Expansion: A 3.6 MnTPA clinker unit with 6 MnTPA of grinding capacity at the existing Kadapa plant, supported by a 3 MnTPA bulk terminal at Chennai, Tamil Nadu.

Sustainability Initiatives

Dalmia Bharat continues to make strides in its sustainability efforts:

• Commissioned 26 MW of group captive renewable energy in Q1.
• Operational renewable energy capacity is expected to reach 576 MW by the end of FY26, a 34-fold increase from 17 MW in FY20.
• The company maintains a strong balance sheet with Net Debt to EBITDA at 0.33x as of June 30.
• ICRA upgraded the company's ESG rating to 80 (Exceptional), reflecting its commitment to environmental, social, and governance practices.

Future Outlook

Puneet Dalmia, Managing Director & CEO, stated, "Our record-breaking quarterly EBITDA demonstrates the strength of our operational efficiency and strategic initiatives. We remain committed to our expansion plans and sustainability goals, aiming to become carbon negative by 2040."

The company expects to gain ₹150.00-200.00 per tonne through cost efficiency measures by FY27, further enhancing its competitive position in the market.

Upcoming Investor Meetings

Dalmia Bharat has announced a series of investor meetings and conferences:

• August 18: JM Financial PROMOTER Conference in Mumbai
• August 19: Equirus Annual India Conference in Mumbai
• August 20: Antique's flagship investor conference - Build India, New India in Mumbai

These meetings will provide opportunities for one-on-one and group interactions with investors and analysts, reflecting the company's commitment to transparent communication with stakeholders.

As Dalmia Bharat continues its growth trajectory, the company remains focused on balancing expansion with sustainability, positioning itself as a leader in the Indian cement industry.

Dalmia Bharat , through its wholly owned subsidiary Dalmia Cement (Bharat) Limited (DCBL), has successfully appealed against GST penalties related to delayed return filings, resulting in a waiver of Rs 5.64 lakh in interest and penalties.

Appeal Details

The Office of Additional Commissioner of State Tax (Appeal) in Dhanbad, Jharkhand has waived off the entire demand of:

• Rs 4.89 lakh in interest
• Rs 0.75 lakh in penalty

These penalties were originally imposed for delays in filing GSTR-3B returns for July 2017 and November 2017 by Dalmia Cement East Limited, which has since merged with DCBL.

Timeline of Events

• Dalmia Cement (Bharat) Limited received an order from the Assistant Commissioner of State Tax, Bokaro Circle, Bokaro, Jharkhand, confirming the demand for interest and penalty.
• Dalmia Bharat made an initial disclosure regarding the matter.
• The appeal order was received at 12:42 P.M., waiving off the entire amount of interest and penalty.
• Dalmia Bharat filed a disclosure under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, informing about the successful appeal.

Financial Impact

Dalmia Bharat has confirmed that there will be no financial impact on the subsidiary as a result of this successful appeal. The waiver of Rs 5.64 lakh in interest and penalties provides relief to the company from the previously imposed financial burden.

Company Statement

In its disclosure to the stock exchanges, Dalmia Bharat stated, "Pursuant to the appeal filed by DCBL in the matter, the Office of Additional Commissioner of State Tax (Appeal), Dhanbad Division, Dhanbad, Jharkhand, has now passed an Order allowing the said appeal and waiving off the entire aforesaid demand of interest and penalty. Accordingly, there will be no financial impact on DCBL."

This successful appeal demonstrates the company's proactive approach in addressing regulatory matters and its commitment to maintaining compliance with tax regulations while protecting its financial interests.