Dalmia Bharat, one of India’s top cement companies, has shared its financial results for the fourth quarter (Q4) and the full financial year ending March 31, 2025 (FY25). The company reported a strong jump in quarterly profit even though overall revenue fell slightly. Alongside the results, Dalmia Bharat also announced major updates about its future plans, capacity growth, and renewable energy efforts.
Q4 FY25: Profit Surges 37%, Revenue Slips
In the January to March 2025 quarter, Dalmia Bharat posted a net profit of ₹439 crore, which is 37.19% higher than the ₹320 crore it earned in the same quarter last year.
However, its income from operations (main revenue) dropped by 5% year-on-year, standing at ₹4,091 crore in Q4 FY25 compared to ₹4,307 crore in Q4 FY24.
Despite this dip in revenue, the company’s EBITDA (earnings before interest, tax, depreciation, and amortization) grew 21.3% year-on-year to ₹793 crore, showing strong operational efficiency and cost management.
FY25 Full-Year Performance: Profit Down, Sales Volume Up
For the full financial year (April 2024 to March 2025), Dalmia Bharat recorded a net profit of ₹699 crore, which is 18.1% lower than the ₹853 crore profit made in FY24.
The company’s total income from operations also fell slightly by 4.8%, coming in at ₹13,980 crore compared to ₹14,691 crore last year.
However, there was a small 2% increase in cement sales volume, which reached 29.4 million tonnes (MT) during the year.
CEO’s View: India’s Economy Strong, Demand for Cement Looks Positive
Managing Director & CEO Mr. Puneet Dalmia said the company’s performance reflects the resilience of the Indian economy. He is optimistic about future cement demand thanks to higher GDP growth, increased government spending on infrastructure, and rising disposable income among consumers.
While acknowledging that FY25 had lower profits due to weak pricing and lower demand, he said Dalmia Bharat is confident of achieving profitable growth in the future. The company plans to do this by focusing on higher volumes, better pricing (realizations), and cost efficiency.
CFO’s Insights: Better Product Mix and Cost Control Helped Profits
Chief Financial Officer Mr. Dharmender Tuteja explained that Q4 cement volumes fell by 3% mainly because the company ended a tolling agreement with JP. But this didn’t hurt the business much, because Dalmia Bharat improved its sales quality by focusing more on trade sales and premium products.
He also pointed out that the 21% rise in EBITDA was possible due to cost-saving efforts like increasing the use of renewable energy. According to him, the company is in a strong position for future growth, backed by a healthy balance sheet and strong profit expectations.
Major Capacity Milestone Reached
Dalmia Bharat announced that it has added 2.4 million tonnes (MT) of cement capacity in Lanka, Assam and 0.5 MT in Rohtas, Bihar. This takes the company’s total installed cement capacity to 49.5 MT, a major achievement on its expansion journey.
Big Investment for Future Growth
The company has also planned a strategic investment of ₹3,520 crore for the next phase of expansion. Key developments include:
- A 3.6 MTPA clinker unit and a 3 MTPA grinding unit at its existing Belgaum plant in Karnataka.
- A new 3 MTPA greenfield grinding unit in Pune, Maharashtra.
These projects are designed to strengthen Dalmia Bharat’s presence in Western and Southern Maharashtra, which are still growing markets with high potential.
Push for Renewable Energy
Dalmia Bharat is also making big strides in renewable energy. The company:
- Ordered a 2.2 MW captive solar power plant.
- Installed 13 MW under Group Captive Power agreements.
With these additions, its total operational renewable energy capacity has reached 267 MW. By the end of FY26, the total RE capacity—including captive and group captive—will touch 595 MW.
Dividend Announcement for Shareholders
As a reward to its shareholders, Dalmia Bharat’s Board has proposed a final dividend of ₹5 per share for FY25, which is 250% of the face value. This dividend will be given after getting approval from shareholders.
Conclusion
Despite some challenges in FY25, Dalmia Bharat has shown strong quarterly performance and is gearing up for long-term growth. With a clear focus on cost efficiency, premium product sales, renewable energy, and expansion in new markets, the company is positioning itself as a leader in India’s cement sector for the years to come.
