Dalmia Bharat share price falls over 4% but top brokerages remain positive on stock; here's what they say

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₹2,340.15 against the previous close of ₹2,322.25 and fell 4.10 per cent to the intraday low of ₹2,227 in trade so far. Around 10:55 am, Dalmia Bharat share price was down 3.97 per cent at ₹2,230. Dalmia Bharat share price has gained about 48 per cent in the last one year, significantly outperforming the equity benchmark Sensex which has risen about 14 per cent in the last one year period.

Dalmia Bharat share price came under pressure today even though a majority of brokerage firms expressed their positive views on the stock after the company's September quarter earnings. In an exchange filing on Saturday, October 14, Dalmia Bharat said its volume increased 6.6 per cent year-on-year (YoY) to 6.2 MnT in Q2FY24. Among the key numbers, revenue increased 6 per cent YoY to ₹3,149 crore while EBITDA/T increased 46 per cent YoY to ₹955/T.

Net debt/EBITDA stood at 0.59 times, the company said. “With the reduction in fuel prices, increased usage of renewable power and improvement in KPIs, we were able to deliver 55 per cent YoY improvement in our EBITDA, which stands at ₹589 crore," said Mahendra Singhi, Managing Director and CEO of Dalmia Cement (Bharat) Limited. Cement capacity increased to 43.7 MnT while clinker capacity increased to 22.2 MnT during the quarter under review.

The company declared an interim dividend of ₹4 per share. “We see a multi‐year strong cement demand trend continuing, as India is undergoing a large‐scale metamorphosis. We were one of the first ones to foresee this upcycle and started building our capacity ahead of time," said Puneet Dalmia, Managing Director and CEO of Dalmia Bharat.