āagman

Not investment advice. Data and computed figures, for information only.

Dalmia Bharat Ltd

NSE: DALBHARATF&O
₹1,610.00
−₹10.60 (−0.65%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹29,984 Cr
CMP
₹1,610.00
52-wk High / Low
₹2,320 / 1,580
P/E
27.3
P/B
1.7
Book Value
₹959.0
Div Yield
0.56%
ROCE
8.0%
ROE
6.1%
Face Value
₹2
D/E
0.41

Price−27.7% over 1Y

āagman read

Computed by āagman
Derived from 10 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
6
/ 9
6 of 9 F-score tests passed
Graham Number
₹1,145
√(22.5 × EPS × book value per share)
ROIC
5.5%
vs 6.2% sector median
Cash flow to profit
1.97
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−359
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
5.2%
ROE × earnings retention ratio
ROE stability
1.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.34DII −0.30
Latest quarter vs the previous one
Cash-accrual divergence
−3.5%
of assets
Low = accruals track cash flow
Strengths
Watch-outs
−Latest ROCE of 8% trails the sector median of 10%
−Price trades below its 200-day moving average (0.9x)
−Price is 30.6% below its 52-week high

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3,6273,1533,6044,3073,6213,0873,1814,0913,6363,4173,5064,2453,890
Expenses3,0142,5602,8253,6532,9522,6532,6703,2982,7532,7212,9043,3433,085
Operating Profit613593779654669434511793883696602902805
OPM %16.9%18.8%21.6%15.2%18.5%14.1%16.1%19.4%24.3%20.4%17.2%21.2%20.7%
Other Income548060120−6373379365663034−43
Interest83101108949598101105108122118132147
Depreciation399401370328317336364314322322340365361
Profit before tax1851713613521947383467518318174439254
Net Profit1441232663201454966439395239128394192
EPS (₹)6.936.2914.0216.807.522.453.2523.1920.9512.586.5020.6310.02

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 10 years + TTM
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales7,4448,5799,4849,67410,11011,28613,55214,69113,98014,80415,058
Expenses5,5506,5437,5427,5917,3408,86011,22412,05211,57311,72112,053
Operating Profit1,8942,0361,9422,0832,7702,4262,3282,6392,4073,0833,005
OPM %25.4%23.7%20.5%21.5%27.4%21.5%17.2%18.0%17.2%20.8%20.0%
Other Income29627423521714517153231414019587
Interest856708542415303202234386399480519
Depreciation1,2261,2131,2961,5281,2501,2351,3051,4981,3311,3491,388
Profit before tax1083893393571,3621,1601,3211,0698171,4491,185
Net Profit442913492381,1838451,0798536991,157953
EPS (₹)8,800.0058,400.0015.9611.6162.5843.5555.2144.0436.4160.7349.73

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital6,6546,6543939373737383838—
Reserves2,9753,68110,60010,52212,77316,02415,59116,35917,33617,941—
Borrowings8,0387,2665,8836,0493,8393,1763,8554,8055,7027,406—
Other Liabilities3,5953,7634,0164,2685,2375,4316,0366,5107,0957,874—
Total Liabilities21,26221,36420,53820,87821,88624,66825,51927,71230,17133,259—
Fixed Assets15,51614,03713,57312,55513,62614,14714,78415,73217,30619,371—
CWIP1281685201,7401,0061,0341,8712,3952,6162,726—
Investments2,7403,5052,4242,8164,0335,7043,5244,4625,1195,878—
Other Assets2,8783,6544,0213,7673,2213,7835,3405,1235,1305,284—
Total Assets21,26221,36420,53820,87821,88624,66825,51927,71230,17133,259—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1,8751,6061,8432,3403,6041,9322,2522,6352,1172,278
Cash from Investing Activity−139135189−1,760−300−1,045−2,326−2,750−2,270−3,023
Cash from Financing Activity−1,749−1,564−2,067−594−3,375−942168222−39808
Net Cash Flow−13177−35−14−71−5594107−19263

Ratios

As of 31 Mar 2026
10 periods
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—6.04.04.010.07.08.07.06.08.0
ROE %—————————6.1
EPS (₹)8,800.0058,400.0015.9611.6162.5843.5555.2144.0436.4160.73
Book Value (₹)—————————959.0
Face Value (₹)—————————2
P/E—————————27.3
Div Yield %—————————0.56
NPM %0.63.33.62.411.57.47.75.75.07.7
OPM %25.024.020.022.027.022.017.018.017.021.0
D/E0.830.700.550.570.300.200.250.290.330.41
P/B—————————1.7

Growth

As of 11 Oct 2026
Compounded sales growth
5 years+8.0%
3 years+3.0%
TTM+8.0%
Compounded profit growth
5 years−2.0%
3 years−1.0%
TTM+19.0%
Stock price CAGR
5 years−5.0%
3 years−11.0%
Last year−28.0%
Return on equity
10 years5.0%
5 years5.0%
3 years5.0%
Last year6.0%

Shareholding pattern

As of 30 Sep 2025
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters54.26%54.26%54.28%55.97%55.90%55.86%55.84%55.84%55.84%55.84%
FIIs16.89%16.89%15.29%13.46%12.63%12.87%11.37%8.29%7.15%6.81%
DIIs4.39%4.39%5.49%4.96%7.07%8.53%12.62%16.43%20.25%19.95%
Government0.07%0.07%0.07%0.07%0.07%0.13%0.13%0.13%0.13%0.13%
Public23.22%23.22%24.87%25.53%24.33%22.59%20.03%19.29%16.61%17.26%
No. of shareholders36,19736,19740,85031,52962,64757,07261,20486,25063,68072,957
Change since Jun 2023 (pp)
Promoters +1.58FIIs −10.08DIIs +15.56Public −5.96

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Closure of Trading WindowAnnouncement under Regulation 30 (LODR)-Newspaper PublicationShareholder Meeting / Postal Ballot-Notice of Postal BallotAnnouncement under Regulation 30 (LODR)-Acquisition
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026TranscriptJul 2026PPTMay 2026TranscriptMay 2026PPTJan 2026TranscriptJan 2026PPTNov 2025TranscriptNov 2025PPTOct 2025PPT

Corporate actions

As of 23 Jun 2026
23 Jun 2026DIVIDENDDividend - Rs 5 Per Share—
24 Oct 2025DIVIDENDInterim Dividend - Rs 4 Per Share—
23 Jun 2025DIVIDENDAnnual General Meeting/Dividend - Rs 5 Per Share—
25 Oct 2024DIVIDENDInterim Dividend - Rs 4 Per Share—
19 Jun 2024DIVIDENDDividend - Rs 5 Per Share—
20 Oct 2023DIVIDENDInterim Dividend - Rs 4 Per Share—
23 Jun 2023DIVIDENDDividend - Rs 5 Per Share—
10 Nov 2022DIVIDENDInterim Dividend - Rs 4 Per Share—
23 Jun 2022DIVIDENDDividend - Rs 5 Per Share—
9 Nov 2021DIVIDEND Interim Dividend - Rs 4 Per Share—
21 Sep 2021DIVIDEND Annual General Meeting/Dividend - Rs 1.33 Per Share—
17 Feb 2020DIVIDEND Interim Dividend - Rs 2 Per Share—
22 Aug 2019DIVIDEND Annual General Meeting/Dividend - Rs 2 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman