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Dalmia Bharat delivers a strong All-Round Performance & announces Entry into Central India

Mumbai, February 06, 2023: Dalmia Bharat Limited, (BSE: 542216, NSE: DALBHARAT), a leading cement manufacturing company, reported its consolidated financial results for the quarter ending December 31, 2022.

1. Highlights for the Quarter and Nine Months ended December 31, 2022                                                                                                                                                                                                                           (Figures in Rs. Cr.)

Particulars (Rs. Cr) Q3FY23 Q3FY22 YoY % 9MFY23 9MFY22 YoY %
Sales Volume (MnT) 6.3 5.7 11.5% 18.3 15.6 17.1%
Income from Operations 3,355 2,734 22.7% 9,628 7,906 21.8%
EBITDA 644 409 57.5% 1,609 1,743 (7.7%)
EBITDA/T 1,022 723 41.2% 879 1,115 (21.2%)
Net Debt to EBITDA (x) 0.39x (0.64x)   0.39x (0.64x)  

2. Dalmia Cement Bharat Limited (“DCBL”) has today signed definitive agreements with Jaiprakash Associates Limited (“JAL”) and its associates in relation to acquisition of cement capacity of 5.2 MnTPA,  Clinker grinding capacity of 3.3 MnTPA, and Thermal Power plants (TPP) of aggregate capacity of 280 MW (which includes transfer of 180 MW TPP to a SPV of which 57% stake shall be held by DCBL).

With this, the definitive agreements for an enterprise value of INR 3,230 Cr. stand executed and the Parties are actively engaged to complete the process for the remaining part of the acquisition as envisaged under the Framework Agreement dated 12.12.2022.

The consummation of the transaction is subject to certain conditions precedent including approval of the lenders of JAL and other regulatory approvals, which the parties will work to complete/obtain over the next few months.

Commenting on the quarter gone by, Mr. Puneet Dalmia, Managing Director & CEO – of Dalmia Bharat Limited, said, “Sustaining the strong momentum, we delivered yet another quarter of solid all-round performance. Our consistent performance is driven by clarity of our vision, excellence in our processes & operations, and agility of our teams. With India well positioned to be the fastest growing economy in the world and cement sector being the direct beneficiary of the same, I am excited about the opportunity that lies ahead of us.” He further added, “The acquisition of the cement assets of Jaiprakash Associates in Central India is an important milestone in our journey to emerge as a Pan India Cement company and reach 75Mnt by FY27 and 110-130Mnt by 2031. Our company is on a clear path of accelerated growth backed by a strong Balance Sheet and an exceptionally dedicated leadership.” 

Mr. Mahendra Singhi, Managing Director and CEO – of Dalmia Cement (Bharat) Limited said, “I am delighted with our strong performance this quarter. On the back of healthy volume growth and our teams’ proactive cost containment measures, we have delivered double-digit revenue growth and industry-leading earnings performance”. He also mentioned that, “We are seeing a strong demand outlook, stable cement prices and with the worst of inflation is behind us we expect profitability to gradually improve from here on.”

Key Recognitions 

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