Mumbai, April 25^th, 2024: Dalmia Bharat Limited, (BSE: 542216, NSE: DALBHARAT), a leading cement manufacturing company, reported its consolidated financial results for the quarter and year ended March 31, 2024.

1. Financial Highlights for the Quarter and Year ended March 31, 2024

(Figures in Rs. Crores)

Commenting on the performance, Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat Limited, said, “Cement sector has a pivotal role in India’s growth story and infrastructure, housing and private capex will drive the demand growth for the next decade and beyond. During FY24 we delivered a volume growth of 11.8% at 28.8Mnt and EBITDA growth of 13.4% at Rs. 2,639Cr. We will continue to work on gaining market share and improving realizations while deepening the cost leadership. I remain excited about the tremendous opportunity ahead and believe that we are on a clear path of accelerated growth backed by sustainable business investments, strong Balance Sheet and a dedicated team.”

Mr. Dharmender Tuteja, Chief Financial Officer – Dalmia Bharat Limited, said “We bounced back and delivered an industry-leading volume growth of 18.5% YoY during the quarter. However, unexpected drop in cement prices led to EBITDA erosion during the quarter with EBITDA margin declining from 18.1% in Q4’23 to 15.2% in current quarter. During the ensuing year, we will continue to focus on our levers of long-term cost savings including renewable energy, operationalizing our captive coal mines, digitization of supply chain and invest in our brand.”

Key updates for the quarter

• Dalmia Cement elevates its commitment to home builders with new brand positioning as the Roof Column Foundation (RCF) Expert; onboards Ranveer Singh as the Brand Ambassador.
• In line with the commitment towards RE100 by 2030 & Carbon Negative by 2040 Dalmia Cement (Bharat) Limited has entered into Share Purchase Agreement, Deed of Accession and Power Purchase Agreement, to acquire 18.13% of equity share capital of O2 Renewable Energy V Private Limited,  in one or more tranches to source wind power as a captive consumer for a capacity up to 11 MW.
• The Board has recommended a final dividend of Rs 5 per share (250%) of face value of Rs 2 per share for FY 2023-24 subject to approval of shareholders in ensuing AGM.

Key Recognitions during the quarter

• Dalmia Cement won the Esteemed CII CAP 2.0o Award for Exemplary Climate Resilience
• The GEEF Global Safety Award 2024 was bestowed to Rajgangpur unit in Platinum Category for outstanding contributions to safety within the Cement Industry
• Kadapa unit won the Gold Award in the Industrial Safety Excellence Category by CII Andhra Pradesh at the CII Industrial Safety Excellence Award 2023