{"id":175670,"date":"2026-01-21T13:20:17","date_gmt":"2026-01-21T18:20:17","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=175670"},"modified":"2026-02-04T11:06:13","modified_gmt":"2026-02-04T16:06:13","slug":"dalmia-bharat-posts-sequential-recovery-q3-revenue-at-%e2%82%b93568-crore","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/dalmia-bharat-posts-sequential-recovery-q3-revenue-at-%e2%82%b93568-crore\/","title":{"rendered":"Dalmia Bharat posts sequential recovery; Q3 revenue at \u20b93,568 crore"},"content":{"rendered":"\n<p><strong>Share price and market cap<\/strong><\/p>\n\n\n\n<p>Share price: \u20b92232.40. Market capitalisation: \u20b941,100 crore (approx).<\/p>\n\n\n\n<p><strong>Revenue and short-term trend<\/strong><\/p>\n\n\n\n<p>3 months (Q3) revenue: \u20b93568 crore. 6 months (H1) revenue: \u20b97053 crore. 9 months (9M) revenue: \u20b910621 crore.<\/p>\n\n\n\n<p><strong>Quarter performance<\/strong><\/p>\n\n\n\n<p>EBITDA (Q3): \u20b9602 crore. PAT (Q3): \u20b9122 crore. Quarterly sales volume: 7.3 MnT. New clinker capacity: 3.6 MTPA clinker line commenced trial production on 20 Jan 2026.<\/p>\n\n\n\n<p><strong>Market analysis<\/strong><\/p>\n\n\n\n<p>Sector demand shows early signs of recovery. Fiscal measures and renewable integration support margins. Competitive pricing remains a constraint.<\/p>\n\n\n\n<p><strong>Analyst views<\/strong><\/p>\n\n\n\n<p>Brokerages provide mixed views. Some see upside from capacity and margins. Others warn on regional pricing pressure and valuations.<\/p>\n\n\n\n<p><strong>Mergers &amp; acquisitions<\/strong><\/p>\n\n\n\n<p>No material M&amp;A announced in the quarter. Management disclosed disposal of a minority stake in an associate in early January 2026.<\/p>\n\n\n\n<p><strong>Outlook<\/strong><\/p>\n\n\n\n<p>Management expects gradual demand improvement and will prioritise capital allocation to capacity and low-carbon projects. Short-term risks include pricing and regional demand variability.<\/p>\n\n\n\n<p><strong>Segment results<\/strong><\/p>\n\n\n\n<p>Cement operations continued to drive consolidated performance. Renewable energy and efficiency measures improved unit economics. No separate standalone segment losses reported.<\/p>\n\n\n\n<p>Dalmia Bharat Limited announced consolidated unaudited results for the quarter and nine months ended 31 December 2025. The company reported total revenue for Q3 at \u20b93,568 crore. EBITDA for the quarter was \u20b9602 crore. Profit after tax for the quarter was \u20b9122 crore. Sales volume for the quarter stood at 7.3 million tonnes. The company has commenced trial production at a 3.6 MTPA clinker line at Umrangso, Assam.<br><br>The company closed at a share price of \u20b92,232.40 on 21 January 2026. Market capitalisation is approximately \u20b941,100 crore. The quarter-on-quarter revenue change was modest. H1 (six months) revenue was \u20b97,053 crore, resulting in a nine-month total of approximately \u20b910,621 crore.<br><br>Segment performance remained driven by cement operations. Volume growth resumed after the H1 decline. EBITDA per tonne improved versus prior periods, supported by lower input costs and renewable energy integration. Management highlighted renewable energy capacity expansion and operational efficiencies as key drivers.<br><br>Market analysis notes improving sector demand and recent fiscal measures supporting consumption. Analysts offered mixed views. Some brokerages retained positive bias based on capacity addition and improving margins. Other analysts flagged competitive pressure in eastern markets and advised caution on realisations.<br><br>On acquisitions and corporate actions, the company disclosed commissioning updates and capacity expansion. There were no material M&amp;A closures announced in the quarter. The company reported disposal of a minority stake in an associate earlier in January 2026 as part of portfolio rationalisation.<br><br>Outlook from management is cautious to constructive. The company expects gradual demand recovery and continued focus on cost management. Capital allocation will prioritise strategic capacity and low-carbon initiatives. Short-term risks include pricing competition and regional demand variability.<br><br>Investment considerations include improved EBITDA margins, ongoing capacity addition and a strong renewable energy mix. Risks include legal and regulatory matters disclosed in filings, and near-term pricing pressure. Traders and long-term investors should consider valuations and sector dynamics before taking positions.<br><br>This report is a factual summary of the company status as on 21 January 2026. Figures are presented on a consolidated unaudited basis.<\/p>\n\n\n\n<p>Chart: Revenue comparison (3\/6\/9 months)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"600\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-8.png\" alt=\"\" class=\"wp-image-175679\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-8.png 900w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-8-300x200.png 300w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-8-768x512.png 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/figure>\n\n\n\n<p>Chart note: Revenues are consolidated and unaudited for the specified periods.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Share price and market cap Share price: \u20b92232.40. Market capitalisation: \u20b941,100 crore (approx). Revenue and short-term trend 3 months (Q3) revenue: \u20b93568 crore. 6 months (H1) revenue: \u20b97053 crore. 9 months (9M) revenue: \u20b910621 crore. Quarter performance EBITDA (Q3): \u20b9602 crore. PAT (Q3): \u20b9122 crore. Quarterly sales volume: 7.3 MnT. New clinker capacity: 3.6 MTPA [&hellip;]<\/p>\n","protected":false},"author":2394,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1941,5753],"tags":[14526,14528,14527,10169],"class_list":["post-175670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-analysis","category-industrials","tag-cement-industry","tag-dalbharat","tag-dalmia-bharat","tag-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":171651,"url":"https:\/\/alphastreet.com\/india\/dalmia-bharat-q2-fy26-profit-surges-388\/","url_meta":{"origin":175670,"position":0},"title":"Dalmia Bharat Q2 FY26: Profit Surges 388%","author":"Divyansh_Kasana","date":"October 20, 2025","format":false,"excerpt":"Dalmia Bharat is among India\u2019s top cement manufacturers and the fourth largest by installed capacity. Founded in 1939, the company has a significant presence across the cement manufacturing and selling sectors in India. Q2 FY26 Earnings Summary (Jul\u2013Sep 2025) Consolidated revenue stood at \u20b93,417 crore, up 10.69% year on year\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"DALBHARAT","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/DALBHARAT.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/DALBHARAT.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/DALBHARAT.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/DALBHARAT.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/DALBHARAT.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/DALBHARAT.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":140547,"url":"https:\/\/alphastreet.com\/india\/dalmia-bharat-ltd-nse-dalbharat-q3-fy23-results-out-total-income-rises-22-yoy\/","url_meta":{"origin":175670,"position":1},"title":"Dalmia Bharat Ltd.(NSE: DALBHARAT)| Q3 FY23 Results Out| Total Income rises 22% yoy","author":"Divyansh_Kasana","date":"February 8, 2023","format":false,"excerpt":"Dalmia Bharat Limited(NSE:DALBHARAT) is a leading Indian conglomerate with a presence in cement, sugar, and refractory industries. Founded in the 1930s, the company has a rich history and a strong reputation in the market. It operates a number of modern and highly efficient manufacturing facilities across India and has a\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0405eb09-04fe-4251-800f-5ae17c683fb0.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0405eb09-04fe-4251-800f-5ae17c683fb0.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0405eb09-04fe-4251-800f-5ae17c683fb0.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0405eb09-04fe-4251-800f-5ae17c683fb0.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0405eb09-04fe-4251-800f-5ae17c683fb0.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0405eb09-04fe-4251-800f-5ae17c683fb0.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":170023,"url":"https:\/\/alphastreet.com\/india\/dalmia-bharat-sugar-q1-fy26-earnings-results\/","url_meta":{"origin":175670,"position":2},"title":"Dalmia Bharat Sugar Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"August 11, 2025","format":false,"excerpt":"Dalmia Bharat Sugar & Industries Limited is mainly engaged in the manufacturing of sugar, generation of power, manufacturing of industrial alcohol, and manufacturing of refractory products. The company is among the youngest and largest sugar producers in India and is also one of the fastest-growing in the sector, with operations\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"DALMIASUG Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/sugar.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/sugar.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/sugar.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/sugar.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/sugar.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/sugar.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171093,"url":"https:\/\/alphastreet.com\/india\/dalmia-bharat-q1-fy26-earnings-results\/","url_meta":{"origin":175670,"position":3},"title":"Dalmia Bharat Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"September 10, 2025","format":false,"excerpt":"Dalmia Bharat Ltd is engaged in the manufacturing and selling of cement and was established in 1939. The company is the 4th largest cement manufacturer by installed capacity in India. Presenting below its Q1 FY26 Earnings Results. Q1 FY26 Earnings Results: Revenue: \u20b93,636 crore, up 0.41% year-on-year YoY from \u20b93,621\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"DALBHARAT Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/BHARAT.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/BHARAT.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/BHARAT.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/BHARAT.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/BHARAT.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/BHARAT.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":159224,"url":"https:\/\/alphastreet.com\/india\/dalmia-bharat-sugar-20-fall-in-revenue\/","url_meta":{"origin":175670,"position":4},"title":"Dalmia Bharat Sugar &#038; Industries Ltd Q3FY24; 20% fall in Revenue","author":"Divyansh_Kasana","date":"February 26, 2024","format":false,"excerpt":"Dalmia Bharat Sugar & Industries is mainly engaged in manufacturing of sugar, generation of power, manufacturing of Industrial alcohol and manufacturing of refractory products.The company is among the youngest and largest sugar companies in India. Its is the fastest-growing sugar company with its presence in UP and Maharashtra. Financial Results:\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-217.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-217.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-217.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-217.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-217.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-217.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":144190,"url":"https:\/\/alphastreet.com\/india\/earnings-dalmia-bharat-ltd-nse-dalbharat-q4fy23-results-out-total-income-rise-15-yoy\/","url_meta":{"origin":175670,"position":5},"title":"Earnings | Dalmia Bharat ltd (NSE: DALBHARAT): Q4FY23 Results Out; Total Income rise 15% YoY","author":"Divyansh_Kasana","date":"April 26, 2023","format":false,"excerpt":"Dalmia Bharat Ltd is an Indian cement manufacturing company that operates in various parts of India. The company's primary business is the manufacture and sale of cement, along with other related activities such as sugar and refractory materials. Dalmia Bharat Ltd has a strong market presence and a reputation for\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/04\/4b0b185d-fd09-4e7e-947d-ef141089055f-3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/04\/4b0b185d-fd09-4e7e-947d-ef141089055f-3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/04\/4b0b185d-fd09-4e7e-947d-ef141089055f-3.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/04\/4b0b185d-fd09-4e7e-947d-ef141089055f-3.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/04\/4b0b185d-fd09-4e7e-947d-ef141089055f-3.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/04\/4b0b185d-fd09-4e7e-947d-ef141089055f-3.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/175670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2394"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=175670"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/175670\/revisions"}],"predecessor-version":[{"id":175819,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/175670\/revisions\/175819"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=175670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=175670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=175670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}