Revenue from operations grew by 6% year on year to Rs 3,149 crore in the quarter ended 30 September 2023.

Sales volume during the quarter rose 6.6% to 6.2 million tonnes from 5.8 million tonnes registered in the corresponding quarter previous year.

Profit before tax in the September quarter soared to Rs 171 crore as compared to Rs 26 crore recorded in Q2 FY23.

EBITDA surged 55.5% to Rs 589 crore in Q2 FY24 as against 379 crore reported in Q2 FY23. EBITDA margin improved to 18.7% in Q2 FY24 as against 12.8% in Q2 FY23.

Puneet Dalmia, managing director & CEO, Dalmia Bharat, said, “In the last 3.5 years, we have added ~17.2 MnT cement capacity, which is ~65% growth over FY20 capacity. In line with our vision to reach 110 ‐ 130 Mnt by 2031, we are continuing to make consistent strides in that direction and capitalize upon the huge opportunity ahead of us.”

Mahendra Singhi, managing director and CEO – Dalmia Cement (Bharat) said, “With the reduction in fuel prices, increased usage of renewable power and improvement in KPIs, we were able to deliver 55% YoY improvement in our EBITDA, which stands at Rs 589 crore.

During first half of the year, we commissioned 5.1 million tonne of cement and 0.5 million tonne clinker capacity in the east and south region. We continue to demonstrate our commitment towards the environment as we have further brought down our carbon footprint to 456 kg CO2 per ton of cement which is one of the lowest in the global cement sector.”

Meanwhile, the company's board has declared an interim dividend of Rs 4 per equity share for the financial year 2023-24. The record date for the same is fixed on Saturday, 21 October 2023.

Further, the board of Dalmia Cement (Bharat), a wholly owned subsidiary of the company has approved the proposal to increase cement grinding capacity by 0.5 MTPA at Rohtas Cement Works, Bihar. Plants existing capacity is at 43.7 MTPA which is being utilised at 61% at pro-rata basis. Proposed capacity will be added by FY25. The company will make an investment of approximately Rs 91 crore which will be a mix of debt and equity/internal accruals.

Dalmia Bharat is the fourth-largest cement manufacturing company in India, with the current capacity pegged at 43.7 million tonne.

Shares of Dalmia Bharat were up 0.16% to Rs 2,296.75 on the BSE.