Dalmia Bharat Delivers an All-Round Performance

FY23 Highlights

  • Volume increased 15.9% YOY to 25.7 MnT 
  • Revenue increased 20.0% YOY to Rs. 13,540 Cr 
  • EBITDA stood at Rs. 2,316 Cr 
  • EBITDA/T stood at Rs. 900/T
  • Installed capacity increased by 7.5% to 38.6 MnT as on 31st March 20232
  • One of Lowest Carbon footprint in global cement world at 463kgCO2/Ton of Cement*
  • Renewable Energy capacity increased by 100 MW to 166 MW (>2.5 times from FY22 end)
  • Renewable Power consumption increased to 20.9% from 10.1% in FY22 (Q4 FY23 at 25.2%)
  • Low Carbon (Blended) Cement % is highest ever at 84.1%
  • Sale of premium product in trade volumes increased by 19.9% to 3.4 MnT
  • Net Debt/EBITDA stood at 0.29x

New Delhi, April 25th, 2023: Dalmia Bharat Limited, (BSE: 542216, NSE: DALBHARAT), a leading cement manufacturing company, reported its consolidated financial results for the quarter ending March 31, 2023.

1. Highlights for the Quarter and Year ended March 31, 2023

                                                                                                                                                                                                                           (Figures in Rs. Cr.)

Particulars (Rs. Cr)



YoY %



YoY %

Sales Volume (MnT)







Income from Operations




























Net Debt to EBITDA (x)





Commenting on the quarter gone by, Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat Limited, said, “I am tremendously proud of our people who have delivered an all-round financial performance alongside meeting the capacity expansion targets of the company. The industry leading volume and revenue growth of 15.9% and 20.0% YOY respectively, is a testament of clarity of our vision, strength of our brand and efficient business operations, all of which is well navigated by our strong leadership team”. He further added, “With deep rooted conviction in India’s growth prospects, I am excited that armed with a combination of newly added cement capacity, a well-capitalized balance sheet and a visionary leadership, Dalmia Bharat has a large headroom to continually deliver industry leading performance and participate in India’s growth story.”

Mr. Mahendra Singhi, Managing Director and CEO – Dalmia Cement (Bharat) Limited said, “I am pleased with our performance during the entire year of FY23. Our persistent efforts, on enhancing sustainability of our operations & rationalization of our operating costs, have enabled us to mitigate the adverse impact of inflation and deliver stable earnings performance.” He also mentioned that, “With robust demand outlook, steady cement prices and the peak of commodity price inflation behind us, we are expecting profitability to gradually improve from here on.”

2. The company has, on 22nd April 2023, commenced commercial production at its second cement line at Bokaro, Jharkhand known as Bokaro Cement Manufacturing Works (JCW2), with capacity of 2.5 MnT. With this addition, the total cement capacity of the company has been enhanced to 41.1 MnT.

3. In line with its strategy to exit non-core business/investment, Dalmia Cement (Bharat) Limited, a subsidiary of the Company, entered into a binding agreement to sell its entire investment of 1,87,23,743 equity Shares of Rs. 10 each (42.36% of share capital) of Dalmia Bharat Refractories Limited at a consideration of Rs. 800 Cr to M/s Sarvapriya Healthcare Solutions Private Limited, a promoter group company.

4. Continuing its commitment to become Carbon Negative by 2040, the company plans to further add renewable energy capacities and reach 324 MW by end of FY24.

5. The Board has recommended a final dividend of Rs 5 per share (250%) of face value of Rs 2 per share for FY 2022-23 subject to approval of shareholders in ensuing AGM.

*subject to assurance at the end of the year

Key Recognitions during FY23

–> Sustainability 

  • Our three units Dalmiapuram, Kadapa and Belgaum Mines won first prize amongst the various categories of overall performance, Mineral Beneficiation, Afforestation, Environmental Monitoring and Sustainable Development during Mines Environment and Mineral Conservation week-2022-23
  • CII “Climate Action Programme, CAP 2.0” Award – To DCBL for 2nd time under Category 2.0 oriented for Energy, Mining and Heavy Manufacturing
  • First cement company to bag “The DL Shah Quality Gold Award” – DCBL for promoting Green Blended Cement and Green Binders
  • “Energy conservation Award” from CII Eastern Region – Rajgangpur Unit
  • “CII 3R Award” – Circular Economy through Innovative 3R Approaches – Belgaum Unit
  • “Warehouse & Logistics Excellence Awards 2022” by Quantic India – DCBL
  • CSR Excellence Award for Sustainable Livelihoods by Odisha Development Leadership Summit to Rajgangpur Unit
  • Rajgangpur Unit won ‘STARS OF THE INDUSTRY AWARDS’ for Excellence and Leadership for the “Best Use of Mobile App Application of “Apna Pariwar

–> Safety

  • Project execution safety award at 14th CIDC Vishwakarma Award (under the auspices of Niti Aayog) – Murli Cement Works & Jharkhand Cement Works
  • “Platinum Award” at the Green Crest (Safety) Award 2022 – Bengal Cement Works
  • “Gold Category Award” at the Kalinga Safety Award 2022 – Kapilas Unit
  • Fire & Safety category Award at IFSEC Excellence Award – Kadapa Unit
  • 1st Prize by Mine Safety Association to the Kadapa Unit

About Dalmia Bharat:

Founded in 1939, Dalmia Bharat Limited (DBL) (BSE/NSE Symbol: DALBHARAT) is one of India’s pioneering cement companies headquartered in New Delhi. With a growing capacity, currently pegged at 38.6 MnT, Dalmia Bharat Limited is the fourth-largest cement manufacturing company in India by installed capacity. Spread across 10 states and 14 manufacturing units, the Company is a category leader in super-specialty cement used for oil well, railway sleepers and airstrips and is the country’s largest producer of Portland Slag Cement (PSC).  Dalmia Cement (Bharat) Limited, a subsidiary of Dalmia Bharat Limited, prides itself at having one of the lowest carbon footprint in the cement world globally. It is the first cement company to commit to RE100, EP100 & EV100 (first triple joiner) – showing real business leadership in the clean energy transition by taking a joined-up approach. Visit us at Dalmia Cement. 

Media Contact:
Pooja Bharadwaj
Email: Bharadwaj.pooja@dalmiabharat.com