Dalmia Bharat Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: August 13, 2025, 8:25 pm

Quick Insight

Dalmia Bharat Ltd, currently trading at ₹2,197, presents a mixed investment case with a market capitalization of ₹41,204 crore and a P/E ratio of 44.6, indicating that the stock is priced for growth amidst a challenging sector. With a return on equity (ROE) of just 4.15% and a return on capital employed (ROCE) of 5.58%, the company’s profitability metrics raise concerns about efficiency, especially given its operating profit margin (OPM) of 19%. Despite a healthy interest coverage ratio (ICR) of 7.65x, which suggests manageable debt levels, the borrowings of ₹5,702 crore against reserves of ₹17,336 crore highlight a reliance on leverage. The shareholding structure shows strong promoter backing at 55.84%, but foreign institutional investors (FIIs) hold only 9.08%, indicating limited external confidence. Given these factors, potential investors should approach with caution, weighing the high valuation against the company's profitability challenges.

Competitors of Dalmia Bharat Ltd

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Quarterly Result

Last Updated: August 1, 2025, 10:20 pm

Below is a detailed analysis of the quarterly data for Dalmia Bharat Ltd based on the most recent figures (Jun 2025) and their trends compared to the previous period:

• For Sales, as of Jun 2025, the value is 3,636.00 Cr.. The value appears to be declining and may need further review. It has decreased from 4,091.00 Cr. (Mar 2025) to 3,636.00 Cr., marking a decrease of 455.00 Cr..
• For Expenses, as of Jun 2025, the value is 2,753.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 3,298.00 Cr. (Mar 2025) to 2,753.00 Cr., marking a decrease of 545.00 Cr..
• For Operating Profit, as of Jun 2025, the value is 883.00 Cr.. The value appears strong and on an upward trend. It has increased from 793.00 Cr. (Mar 2025) to 883.00 Cr., marking an increase of 90.00 Cr..
• For OPM %, as of Jun 2025, the value is 24.00%. The value appears strong and on an upward trend. It has increased from 19.00% (Mar 2025) to 24.00%, marking an increase of 5.00%.
• For Other Income, as of Jun 2025, the value is 65.00 Cr.. The value appears to be declining and may need further review. It has decreased from 93.00 Cr. (Mar 2025) to 65.00 Cr., marking a decrease of 28.00 Cr..
• For Interest, as of Jun 2025, the value is 108.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 105.00 Cr. (Mar 2025) to 108.00 Cr., marking an increase of 3.00 Cr..
• For Depreciation, as of Jun 2025, the value is 322.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 314.00 Cr. (Mar 2025) to 322.00 Cr., marking an increase of 8.00 Cr..
• For Profit before tax, as of Jun 2025, the value is 518.00 Cr.. The value appears strong and on an upward trend. It has increased from 467.00 Cr. (Mar 2025) to 518.00 Cr., marking an increase of 51.00 Cr..
• For Tax %, as of Jun 2025, the value is 24.00%. The value appears to be increasing, which may not be favorable. It has increased from 6.00% (Mar 2025) to 24.00%, marking an increase of 18.00%.
• For Net Profit, as of Jun 2025, the value is 395.00 Cr.. The value appears to be declining and may need further review. It has decreased from 439.00 Cr. (Mar 2025) to 395.00 Cr., marking a decrease of 44.00 Cr..
• For EPS in Rs, as of Jun 2025, the value is 20.95. The value appears to be declining and may need further review. It has decreased from 23.19 (Mar 2025) to 20.95, marking a decrease of 2.24.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Profit & Loss - Annual Report

Last Updated: May 3, 2025, 2:51 pm

Growth

Last Updated: Unknown

Balance Sheet

Last Updated: July 25, 2025, 3:22 pm

Below is a detailed analysis of the balance sheet data for Dalmia Bharat Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

• For Equity Capital, as of Mar 2025, the value is 38.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 38.00 Cr..
• For Reserves, as of Mar 2025, the value is 17,336.00 Cr.. The value appears strong and on an upward trend. It has increased from 16,359.00 Cr. (Mar 2024) to 17,336.00 Cr., marking an increase of 977.00 Cr..
• For Borrowings, as of Mar 2025, the value is 5,702.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 4,805.00 Cr. (Mar 2024) to 5,702.00 Cr., marking an increase of 897.00 Cr..
• For Other Liabilities, as of Mar 2025, the value is 7,095.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 6,510.00 Cr. (Mar 2024) to 7,095.00 Cr., marking an increase of 585.00 Cr..
• For Total Liabilities, as of Mar 2025, the value is 30,171.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 27,712.00 Cr. (Mar 2024) to 30,171.00 Cr., marking an increase of 2,459.00 Cr..
• For Fixed Assets, as of Mar 2025, the value is 17,306.00 Cr.. The value appears strong and on an upward trend. It has increased from 15,732.00 Cr. (Mar 2024) to 17,306.00 Cr., marking an increase of 1,574.00 Cr..
• For CWIP, as of Mar 2025, the value is 2,616.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,395.00 Cr. (Mar 2024) to 2,616.00 Cr., marking an increase of 221.00 Cr..
• For Investments, as of Mar 2025, the value is 5,119.00 Cr.. The value appears strong and on an upward trend. It has increased from 4,462.00 Cr. (Mar 2024) to 5,119.00 Cr., marking an increase of 657.00 Cr..
• For Other Assets, as of Mar 2025, the value is 5,130.00 Cr.. The value appears strong and on an upward trend. It has increased from 5,123.00 Cr. (Mar 2024) to 5,130.00 Cr., marking an increase of 7.00 Cr..
• For Total Assets, as of Mar 2025, the value is 30,171.00 Cr.. The value appears strong and on an upward trend. It has increased from 27,712.00 Cr. (Mar 2024) to 30,171.00 Cr., marking an increase of 2,459.00 Cr..

Notably, the Reserves (17,336.00 Cr.) exceed the Borrowings (5,702.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Cash Flow

Free Cash Flow

Share Holding Pattern

Mutual Fund Holdings

Key Financial Ratios

After reviewing the key financial ratios for Dalmia Bharat Ltd, here is a detailed analysis based on the latest available data and recent trends:

• For FaceValue, as of Mar 24, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 2.00.
• For Basic EPS (Rs.), as of Mar 24, the value is 44.05. This value is within the healthy range. It has decreased from 55.22 (Mar 23) to 44.05, marking a decrease of 11.17.
• For Diluted EPS (Rs.), as of Mar 24, the value is 44.03. This value is within the healthy range. It has decreased from 55.19 (Mar 23) to 44.03, marking a decrease of 11.16.
• For Cash EPS (Rs.), as of Mar 24, the value is 123.74. This value is within the healthy range. It has increased from 98.92 (Mar 23) to 123.74, marking an increase of 24.82.
• For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 868.79. It has increased from 851.03 (Mar 23) to 868.79, marking an increase of 17.76.
• For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 868.79. It has increased from 851.03 (Mar 23) to 868.79, marking an increase of 17.76.
• For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 773.21. It has increased from 731.89 (Mar 23) to 773.21, marking an increase of 41.32.
• For PBDIT / Share (Rs.), as of Mar 24, the value is 155.47. This value is within the healthy range. It has increased from 132.65 (Mar 23) to 155.47, marking an increase of 22.82.
• For PBIT / Share (Rs.), as of Mar 24, the value is 76.63. This value is within the healthy range. It has increased from 62.11 (Mar 23) to 76.63, marking an increase of 14.52.
• For PBT / Share (Rs.), as of Mar 24, the value is 56.32. This value is within the healthy range. It has increased from 41.68 (Mar 23) to 56.32, marking an increase of 14.64.
• For Net Profit / Share (Rs.), as of Mar 24, the value is 44.89. This value is within the healthy range. It has increased from 28.38 (Mar 23) to 44.89, marking an increase of 16.51.
• For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 43.47. This value is within the healthy range. It has decreased from 55.95 (Mar 23) to 43.47, marking a decrease of 12.48.
• For PBDIT Margin (%), as of Mar 24, the value is 20.10. This value is within the healthy range. It has increased from 18.12 (Mar 23) to 20.10, marking an increase of 1.98.
• For PBIT Margin (%), as of Mar 24, the value is 9.91. This value is below the healthy minimum of 10. It has increased from 8.48 (Mar 23) to 9.91, marking an increase of 1.43.
• For PBT Margin (%), as of Mar 24, the value is 7.28. This value is below the healthy minimum of 10. It has increased from 5.69 (Mar 23) to 7.28, marking an increase of 1.59.
• For Net Profit Margin (%), as of Mar 24, the value is 5.80. This value is within the healthy range. It has increased from 3.87 (Mar 23) to 5.80, marking an increase of 1.93.
• For NP After MI And SOA Margin (%), as of Mar 24, the value is 5.62. This value is below the healthy minimum of 8. It has decreased from 7.64 (Mar 23) to 5.62, marking a decrease of 2.02.
• For Return on Networth / Equity (%), as of Mar 24, the value is 5.03. This value is below the healthy minimum of 15. It has decreased from 6.62 (Mar 23) to 5.03, marking a decrease of 1.59.
• For Return on Capital Employeed (%), as of Mar 24, the value is 6.25. This value is below the healthy minimum of 10. It has increased from 5.44 (Mar 23) to 6.25, marking an increase of 0.81.
• For Return On Assets (%), as of Mar 24, the value is 2.97. This value is below the healthy minimum of 5. It has decreased from 4.05 (Mar 23) to 2.97, marking a decrease of 1.08.
• For Long Term Debt / Equity (X), as of Mar 24, the value is 0.27. This value is within the healthy range. It has increased from 0.20 (Mar 23) to 0.27, marking an increase of 0.07.
• For Total Debt / Equity (X), as of Mar 24, the value is 0.28. This value is within the healthy range. It has increased from 0.23 (Mar 23) to 0.28, marking an increase of 0.05.
• For Asset Turnover Ratio (%), as of Mar 24, the value is 0.55. It has increased from 0.53 (Mar 23) to 0.55, marking an increase of 0.02.
• For Current Ratio (X), as of Mar 24, the value is 1.76. This value is within the healthy range. It has increased from 1.65 (Mar 23) to 1.76, marking an increase of 0.11.
• For Quick Ratio (X), as of Mar 24, the value is 1.48. This value is within the healthy range. It has increased from 1.35 (Mar 23) to 1.48, marking an increase of 0.13.
• For Inventory Turnover Ratio (X), as of Mar 24, the value is 4.13. This value is within the healthy range. It has decreased from 4.94 (Mar 23) to 4.13, marking a decrease of 0.81.
• For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 20.46. This value is within the healthy range. It has increased from 16.32 (Mar 23) to 20.46, marking an increase of 4.14.
• For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 7.27. This value is below the healthy minimum of 20. It has increased from 7.22 (Mar 23) to 7.27, marking an increase of 0.05.
• For Earning Retention Ratio (%), as of Mar 24, the value is 79.54. This value exceeds the healthy maximum of 70. It has decreased from 83.68 (Mar 23) to 79.54, marking a decrease of 4.14.
• For Cash Earning Retention Ratio (%), as of Mar 24, the value is 92.73. This value exceeds the healthy maximum of 70. It has decreased from 92.78 (Mar 23) to 92.73, marking a decrease of 0.05.
• For Interest Coverage Ratio (X), as of Mar 24, the value is 7.65. This value is within the healthy range. It has decreased from 10.49 (Mar 23) to 7.65, marking a decrease of 2.84.
• For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 3.21. This value is within the healthy range. It has decreased from 3.88 (Mar 23) to 3.21, marking a decrease of 0.67.
• For Enterprise Value (Cr.), as of Mar 24, the value is 41,059.80. It has increased from 39,904.23 (Mar 23) to 41,059.80, marking an increase of 1,155.57.
• For EV / Net Operating Revenue (X), as of Mar 24, the value is 2.79. This value is within the healthy range. It has decreased from 2.95 (Mar 23) to 2.79, marking a decrease of 0.16.
• For EV / EBITDA (X), as of Mar 24, the value is 13.90. This value is within the healthy range. It has decreased from 16.26 (Mar 23) to 13.90, marking a decrease of 2.36.
• For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 2.51. This value is within the healthy range. It has decreased from 2.68 (Mar 23) to 2.51, marking a decrease of 0.17.
• For Retention Ratios (%), as of Mar 24, the value is 79.53. This value exceeds the healthy maximum of 70. It has decreased from 83.67 (Mar 23) to 79.53, marking a decrease of 4.14.
• For Price / BV (X), as of Mar 24, the value is 2.25. This value is within the healthy range. It has decreased from 2.32 (Mar 23) to 2.25, marking a decrease of 0.07.
• For Price / Net Operating Revenue (X), as of Mar 24, the value is 2.51. This value is within the healthy range. It has decreased from 2.68 (Mar 23) to 2.51, marking a decrease of 0.17.
• For EarningsYield, as of Mar 24, the value is 0.02. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 23) which recorded 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Fair Value

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Strength and Weakness