Mumbai, April 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.
Commenting on the quarter gone by, Mr. Puneet Dalmia, Managing Director & CEO – of 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 to the clarity of our vision, strength of our brand, and efficient business operations, all of which are 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 the 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.”
The company, on 22nd April 2023, commenced commercial production at its second cement line at Bokaro, Jharkhand known as Bokaro Cement Manufacturing Works (JCW2), with the capacity of 2.5 MnT. With this addition, the total cement capacity of the company has been enhanced to 41.1 MnT.
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.
Continuing its commitment to become Carbon Negative by 2040, the company plans to further add renewable energy capacities and reach 324 MW by the end of FY24.
The Board has recommended a final dividend of Rs 5 per share (250%) of the face value of Rs 2 per share for FY 2022-23 subject to the approval of shareholders in the 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