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Dalmia Bharat Ltd.
NSE: DALBHARAT · Construction Materials
₹1,470.30+0.27%06 Nov 2026
Ask the data
Instant answers about Dalmia Bharat Ltd. — computed from its filings, no language modelMarket cap₹27,936 cr
Current price₹1,470.30
High / Low₹2,232 / ₹1,326
P/E57.0
P/B1.55
Book value₹947.9
ROE2.7%
ROCE4.0%
Debt / equity0.53
Dividend yield0.60%
EPS (TTM)₹25.79
Face value₹2
Price & valuation
split & bonus adjusted · pick a metric and rangeAnnual performance
annual · ₹ crore · line = operating margin| FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9,484 | 9,674 | 10,522 | 11,286 | 13,540 | 14,691 | 13,980 | 14,804 |
| EBITDA | 1,895 | 2,083 | 2,791 | 2,431 | 2,316 | 2,639 | 2,407 | 3,083 |
| Operating margin | 20.0% | 21.5% | 26.5% | 21.5% | 17.1% | 18.0% | 17.2% | 20.8% |
| Interest | 504 | 415 | 303 | 202 | 234 | 386 | 399 | 480 |
| Depreciation | 1,296 | 1,528 | 1,262 | 1,236 | 1,305 | 1,498 | 1,331 | 1,349 |
| Profit before tax | 339 | 357 | 1,408 | 1,146 | 771 | 1,070 | 817 | 1,450 |
| Tax | -10 | 119 | 165 | -14 | 242 | 216 | 118 | 292 |
| Net profit | 308 | 224 | 1,231 | 1,144 | 1,035 | 826 | 683 | 1,139 |
| EPS ₹ | 15.97 | 11.61 | 65.65 | 61.18 | 55.22 | 44.05 | 36.42 | 60.73 |
| Operating cash flow | — | — | — | 1,937 | 2,252 | 2,635 | 2,117 | 2,278 |
| Capex | — | — | — | 1,769 | 2,709 | 2,827 | 2,664 | 2,056 |
| Dividend paid | — | — | — | 100 | 169 | 169 | 169 | 169 |
| Total assets | 20,538 | 20,878 | 22,042 | 24,871 | 25,543 | 27,749 | 30,226 | 33,312 |
| Equity | 10,639 | 10,561 | 12,810 | 15,687 | 15,628 | 16,397 | 17,374 | 17,979 |
Quarterly performance
last 32 quarters · ₹ crore| DEC '18 | MAR '19 | JUN '19 | SEP '19 | DEC '19 | MAR '20 | JUN '20 | SEP '20 | DEC '20 | MAR '21 | JUN '21 | SEP '21 | DEC '21 | MAR '22 | JUN '22 | SEP '22 | DEC '22 | MAR '23 | JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | SEP '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,175 | 2,842 | 2,537 | 2,236 | 2,418 | 2,483 | 1,974 | 2,410 | 2,857 | 3,281 | 2,589 | 2,577 | 2,731 | 3,380 | 3,302 | 2,971 | 3,355 | 3,912 | 3,624 | 3,149 | 3,600 | 4,307 | 3,621 | 3,087 | 3,181 | 4,091 | 3,636 | 3,417 | 3,506 | 4,245 | 3,890 | 3,563 |
| Operating profit | 425 | 660 | 669 | 471 | 455 | 488 | 615 | 703 | 694 | 779 | 704 | 621 | 411 | 682 | 589 | 377 | 645 | 707 | 610 | 589 | 775 | 654 | 669 | 434 | 511 | 793 | 883 | 696 | 602 | 902 | 805 | 493 |
| Operating margin | 19.5% | 23.2% | 26.4% | 21.1% | 18.8% | 19.7% | 31.2% | 29.2% | 24.3% | 23.7% | 27.2% | 24.1% | 15.0% | 20.2% | 17.8% | 12.7% | 19.2% | 18.1% | 16.8% | 18.7% | 21.5% | 15.2% | 18.5% | 14.1% | 16.1% | 19.4% | 24.3% | 20.4% | 17.2% | 21.2% | 20.7% | 13.8% |
| Other income | 64 | 63 | 44 | 49 | 68 | 56 | 55 | 41 | 46 | 40 | 26 | 45 | 30 | 53 | 22 | 38 | 35 | 41 | 57 | 85 | 64 | 120 | 50 | 73 | 37 | 93 | 49 | 66 | 62 | 45 | 139 | 46 |
| Interest | 117 | 103 | 119 | 99 | 93 | 104 | 74 | 74 | 94 | 61 | 60 | 50 | 46 | 45 | 47 | 54 | 69 | 64 | 83 | 101 | 108 | 94 | 95 | 98 | 101 | 105 | 108 | 122 | 118 | 132 | 147 | 130 |
| Depreciation | 332 | 356 | 342 | 406 | 405 | 375 | 301 | 302 | 329 | 330 | 298 | 303 | 302 | 334 | 312 | 332 | 325 | 336 | 399 | 401 | 370 | 328 | 317 | 336 | 364 | 314 | 322 | 322 | 340 | 365 | 361 | 363 |
| Profit before tax | 40 | 264 | 252 | 15 | 25 | 65 | 295 | 368 | 317 | 428 | 372 | 307 | 93 | 360 | 252 | 29 | 286 | 204 | 185 | 172 | 361 | 352 | 194 | 73 | 83 | 467 | 518 | 318 | 174 | 440 | 254 | -293 |
| Tax | 9 | 0 | 100 | -21 | -1 | 41 | 107 | 136 | 134 | -212 | 95 | 93 | 20 | -239 | 64 | -21 | 74 | 125 | 41 | 48 | 95 | 32 | 49 | 24 | 17 | 28 | 123 | 79 | 46 | 45 | 62 | -85 |
| Net profit | 28 | 228 | 147 | 27 | 24 | 26 | 190 | 144 | 182 | 627 | 208 | 204 | 95 | 595 | 196 | 46 | 204 | 589 | 130 | 118 | 263 | 315 | 141 | 46 | 61 | 435 | 393 | -288 | 122 | 387 | 188 | -207 |
| EPS ₹ | 1.46 | 11.81 | 7.62 | 1.40 | 1.25 | 1.35 | 10.03 | 12.24 | 9.70 | 33.44 | 12.13 | 10.90 | 5.08 | 31.79 | 10.46 | 2.47 | 10.88 | 31.42 | 6.93 | 6.30 | 14.02 | 16.80 | 7.52 | 2.45 | 3.25 | 23.20 | 20.95 | 12.59 | 6.50 | 20.69 | 10.02 | -11.03 |
| Revenue YoY | — | — | — | — | 11.2% | -12.6% | -22.2% | 7.8% | 18.2% | 32.1% | 31.2% | 6.9% | -4.4% | 3.0% | 27.5% | 15.3% | 22.8% | 15.7% | 9.8% | 6.0% | 7.3% | 10.1% | -0.1% | -2.0% | -11.6% | -5.0% | 0.4% | 10.7% | 10.2% | 3.8% | 7.0% | 4.3% |
| Profit YoY | — | — | — | — | -14.3% | -88.6% | 29.3% | 433.3% | 658.3% | 2311.5% | 9.5% | 41.7% | -47.8% | -5.1% | -5.8% | -77.5% | 114.7% | -1.0% | -33.7% | 156.5% | 28.9% | -46.5% | 8.5% | -61.0% | -76.8% | 38.1% | 178.7% | -726.1% | 100.0% | -11.0% | -52.2% | — |
Returns & margins
trailing-twelve-month, per quarter| SEP '19 | DEC '19 | MAR '20 | JUN '20 | SEP '20 | DEC '20 | MAR '21 | JUN '21 | SEP '21 | DEC '21 | MAR '22 | JUN '22 | SEP '22 | DEC '22 | MAR '23 | JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | SEP '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.0% | 4.0% | 2.1% | 2.5% | 3.6% | 5.1% | 8.9% | 9.1% | 9.5% | 8.9% | 7.0% | 6.9% | 6.2% | 6.9% | 6.6% | 6.2% | 6.5% | 6.9% | 5.0% | 5.1% | 4.4% | 3.2% | 3.9% | 5.4% | 3.4% | 3.7% | 3.4% | 2.3% | 2.7% |
| ROCE | 6.5% | 6.2% | 5.0% | 5.0% | 7.2% | 9.1% | 10.4% | 10.7% | 10.2% | 8.6% | 7.1% | 6.4% | 5.1% | 6.2% | 5.2% | 5.0% | 5.5% | 6.0% | 6.9% | 7.0% | 6.2% | 4.9% | 5.4% | 6.9% | 7.5% | 7.9% | 7.8% | 6.9% | 4.0% |
| Net margin | 4.4% | 4.2% | 2.3% | 2.9% | 4.1% | 5.6% | 10.9% | 10.4% | 10.8% | 10.1% | 9.8% | 9.1% | 7.5% | 8.0% | 7.6% | 7.0% | 7.4% | 7.7% | 5.6% | 5.7% | 5.2% | 4.0% | 4.9% | 6.7% | 4.2% | 4.5% | 4.1% | 2.7% | 3.2% |
| EBITDA margin | 22.7% | 22.5% | 21.5% | 22.3% | 24.4% | 25.7% | 26.5% | 25.9% | 24.8% | 22.5% | 21.4% | 19.2% | 16.6% | 17.6% | 17.1% | 16.9% | 18.2% | 18.8% | 17.9% | 18.3% | 17.3% | 16.0% | 17.2% | 18.7% | 20.1% | 20.3% | 20.8% | 20.0% | 18.4% |
| Debt / equity | 0.46 | 0.46 | 0.45 | 0.45 | 0.45 | 0.45 | 0.29 | 0.29 | 0.29 | 0.29 | 0.20 | 0.20 | 0.22 | 0.22 | 0.24 | 0.24 | 0.33 | 0.33 | 0.28 | 0.28 | 0.27 | 0.27 | 0.30 | 0.30 | 0.37 | 0.37 | 0.38 | 0.38 | 0.53 |
| Interest coverage | 2.30 | 2.34 | 1.86 | 2.08 | 3.18 | 4.02 | 5.65 | 6.14 | 6.37 | 6.53 | 6.63 | 6.38 | 4.82 | 5.31 | 4.29 | 3.61 | 3.67 | 3.59 | 3.77 | 3.71 | 3.48 | 2.81 | 3.05 | 3.77 | 4.18 | 4.26 | 4.02 | 3.29 | 2.09 |
| Asset turnover | 0.48 | 0.49 | 0.46 | 0.44 | 0.44 | 0.47 | 0.48 | 0.51 | 0.51 | 0.51 | 0.45 | 0.48 | 0.53 | 0.55 | 0.53 | 0.54 | 0.51 | 0.52 | 0.53 | 0.53 | 0.50 | 0.49 | 0.46 | 0.46 | 0.45 | 0.46 | 0.44 | 0.45 | 0.42 |
Balance sheet
equity vs borrowings over time · ₹ crore| MAR '18‡ | MAR '19‡ | MAR '20‡ | MAR '21‡ | MAR '22‡ | SEP '22 | MAR '23 | SEP '23 | MAR '24 | SEP '24 | MAR '25 | SEP '25 | MAR '26 | SEP '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share capital | 0 | 39 | 39 | 37 | 37 | 37 | 37 | 38 | 38 | 38 | 38 | 38 | 38 | 38 |
| Other equity / reserves | 10,365 | 10,600 | 10,522 | 12,773 | 15,650 | 14,995 | 15,591 | 15,973 | 16,359 | 17,480 | 17,336 | 17,641 | 17,941 | 17,973 |
| Total equity | 10,365 | 10,639 | 10,561 | 12,810 | 15,687 | 15,032 | 15,628 | 16,011 | 16,397 | 17,518 | 17,374 | 17,679 | 17,979 | 18,011 |
| Borrowings | 6,322 | 4,923 | 4,751 | 3,708 | 3,119 | 3,266 | 3,742 | 5,273 | 4,630 | 4,763 | 5,258 | 6,621 | 6,752 | 9,582 |
| Current liabilities | 3,966 | 4,183 | 5,089 | 4,823 | 4,776 | 4,314 | 4,460 | 4,554 | 4,474 | 4,436 | 5,223 | 5,028 | 5,674 | 6,590 |
| Non-current liabilities | 7,063 | 5,706 | 5,203 | 4,375 | 4,336 | 4,115 | 5,339 | 6,597 | 6,768 | 6,966 | 7,503 | 8,675 | 9,515 | 11,834 |
| Total assets | 21,334 | 20,538 | 20,878 | 22,042 | 24,871 | 23,544 | 25,543 | 27,264 | 27,749 | 29,038 | 30,226 | 31,513 | 33,312 | 36,435 |
| Property, plant & equipment | 9,125 | 9,086 | 8,419 | 9,824 | 10,532 | 10,941 | 11,610 | 12,262 | 12,893 | 13,291 | 14,714 | 14,650 | 16,872 | 17,635 |
| Capital work-in-progress | 173 | 501 | 1,702 | 869 | 1,036 | 1,487 | 1,859 | 1,852 | 2,284 | 2,887 | 2,497 | 3,488 | 2,593 | 5,193 |
| Investments | 3,505 | 2,424 | 2,816 | 3,654 | 5,319 | 3,636 | 3,524 | 4,716 | 4,462 | 4,945 | 5,119 | 5,597 | 5,878 | 4,514 |
| Inventories | 779 | 1,032 | 974 | 760 | 945 | 1,239 | 1,316 | 1,270 | 1,218 | 1,522 | 1,386 | 1,357 | 1,192 | 1,602 |
| Receivables | 564 | 549 | 664 | 511 | 673 | 694 | 700 | 756 | 836 | 802 | 889 | 900 | 864 | 858 |
| Cash & equivalents | 315 | 280 | 266 | 195 | 140 | 88 | 234 | 337 | 341 | 95 | 149 | 70 | 212 | 89 |
Cash flow
annual · ₹ crore · line = free cash flow| FY18‡ | FY19‡ | FY20‡ | FY21‡ | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,606 | 1,843 | 2,340 | 3,604 | 1,937 | 2,252 | 2,635 | 2,117 | 2,278 |
| Cash from investing | 135 | 187 | -1,760 | -301 | -1,050 | -2,326 | -2,750 | -2,270 | -3,023 |
| Cash from financing | -1,564 | -2,067 | -594 | -3,375 | -942 | 168 | 222 | -39 | 808 |
| Capex | 402 | 926 | 1,350 | 1,035 | 1,769 | 2,709 | 2,827 | 2,664 | 2,056 |
| Free cash flow | 1,204 | 917 | 990 | 2,569 | 168 | -457 | -192 | -547 | 222 |
| Dividends paid | 33 | 40 | 93 | 0 | 100 | 169 | 169 | 169 | 169 |
Where the assets sit
Sep '26 · ₹ croreFixed assets (PPE)₹17,635 cr48%
CWIP₹5,193 cr14%
Investments₹4,514 cr12%
Inventories₹1,602 cr4%
Receivables₹858 cr2%
Cash & equivalents₹89 cr0%
Other assets₹6,544 cr18%
Peer comparison
largest in Construction Materials · this company in bold| Company | Market cap ₹cr | Price | P/E | P/B | ROE |
|---|---|---|---|---|---|
| UltraTech Cement Ltd. | 3,66,877 | 12,450.00 | 41.7 | 4.99 | 12.0% |
| Grasim Industries Ltd. | 2,19,613 | 3,227.00 | 38.6 | 2.12 | 5.5% |
| Ambuja Cements Ltd. | 97,064 | 390.60 | 34.6 | 1.63 | 4.7% |
| Shree Cement Ltd. | 90,561 | 25,100.00 | 57.2 | 3.80 | 6.6% |
| J.K. Cement Ltd. | 40,488 | 5,239.80 | 42.3 | 5.51 | 13.0% |
| Dalmia Bharat Ltd. | 27,936 | 1,470.30 | 57.0 | 1.55 | 2.7% |
| ACC Ltd. | 23,241 | 1,236.20 | 26.3 | 1.12 | 4.3% |
| The Ramco Cements Ltd. | 19,314 | 817.35 | 31.8 | 2.38 | 7.5% |
| JSW Cement Ltd. | 16,693 | 123.41 | 22.0 | 2.46 | 11.2% |
| Nuvoco Vistas Corporation Ltd. | 12,251 | 343.00 | 29.5 | 1.28 | 4.3% |
StoxGud checklist: Bearish setup · 2/10
- Price above 50-day average
- Price above 200-day average
- 50-day average above 200-day (uptrend)
- RSI in healthy 40–70 zone
- Positive 1-year return
- Return on equity above 15%
- Debt to equity below 1
- Revenue growing year on year
- Net profit margin above 10%
- P/E below industry median
A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.
Returns & technicals
1 month-10.4%
6 months-25.5%
1 year-31.0%
3Y CAGR-11.2%
5Y CAGR-6.8%
10Y CAGR—
50-day avg₹1,653.56
200-day avg₹1,825.54
RSI (14)31
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FAQs
What is the share price of Dalmia Bharat Ltd.?
Dalmia Bharat Ltd. (DALBHARAT) closed at ₹1,470.30 on NSE on 06 Nov 2026.
What is the market cap of Dalmia Bharat Ltd.?
₹27,936 crore at the latest close.
What is the P/E ratio of Dalmia Bharat Ltd.?
57.0, on trailing-twelve-month earnings from its filings.
How fast is Dalmia Bharat Ltd. growing?
Dalmia Bharat Ltd.: revenue has compounded at 3.0% a year over three years; net profit at 3.2% a year. Latest-quarter revenue is up 4.3% year on year.
How profitable is Dalmia Bharat Ltd.?
On a trailing-twelve-month basis return on equity is 2.7%, return on capital employed 4.0%, operating margin 18.4%, net margin 3.2%.
How much debt does Dalmia Bharat Ltd. have?
Dalmia Bharat Ltd. is moderately geared: debt to equity is 0.53 with borrowings of ₹9,582 cr against cash of ₹89 cr (balance sheet of 2026-09-30). Operating profit covers interest 2.1 times.
Financials parsed from Dalmia Bharat Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from DEC '18, annual from FY19, balance sheet from Mar '18. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.
Dalmia Bharat Ltd. · advanced chart