DALBHARAT

** Shares of Dalmia Bharat DALB.NS rise 3.5% to 1,662.9 rupees

** The cement maker commenced commercial production of its new grinding unit of 2.4 million tonnes per annum (MTPA) in Assam

** Co's cement manufacturing capacity now totals 8 MnT in the North-East and 49 MTPA pan-India

** More than 241,000 shares change hands, 1x its 30-day avg

** 28 analysts covering the stock on avg have a "hold" rating; median PT is 1,965 rupees - LSEG data

** Stock down 9% so far this year

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

March 13 (Reuters) - Dalmia Bharat Ltd DALB.NS:

• DALMIA BHARAT - NCLT APPROVED ARRANGEMENT BETWEEN DALMIA CEMENT (NORTH EAST), VINAY CEMENT

• DALMIA BHARAT - SCHEME INVOLVES DEMERGER, TRANSFER OF CEMENT, MINING BUSINESS OF VINAY CEMENT

Source text: [ID:]

Further company coverage: DALB.NS

(([email protected];))

Feb 28 (Reuters) - Dalmia Bharat Ltd DALB.NS:

• DALMIA BHARAT LTD - APPROVES CAPACITY INCREASE PROPOSALS IN 3 LOCATIONS

Source text: ID:nBSEcfBn0L

Further company coverage: DALB.NS

(([email protected];))

Feb 26 (Reuters) - Dalmia Bharat Ltd DALB.NS:

• DALMIA BHARAT - UNIT'S APPEAL ALLOWED BY TAX AUTHORITY; DEMAND OF TAX, INTEREST DROPPED

Source text: ID:nBSE71NcXJ

Further company coverage: DALB.NS

(([email protected];))

Feb 11 (Reuters) - Dalmia Bharat Ltd DALB.NS:

• UNIT RECEIVES TAX PENALTY ORDER OF 92 MILLION RUPEES

Source text: ID:nBSE6mr9gB

Further company coverage: DALB.NS

(([email protected];;))

By Hritam Mukherjee

Feb 1 (Reuters) - Indian cement companies' shares fell in a special trading session on Saturday after the government announced a 'modest' spending hike for infrastructure projects in the annual budget , which failed to impress investors.

UltraTech Cement's ULTC.NS shares dropped 2.7%, while those of rival Adani Group's cement firms Ambuja ABUJ.NS and ACC ACC.NS slumped 4.5% and 2.3% respectively.

Other big cement firms - Shree SHCM.NS and Dalmia Bharat DALB.NS - declined 3% and 2% respectively.

The Indian government said it will spend a record 11.21 trillion rupees ($129.54 billion) on infrastructure in the upcoming financial year that begins on April 1, but the increase in planned spending disappointed markets.

"The capex outlay for fiscal year 2026.. looks modest compared to raises made in FY25 and FY24 budget, and misses market expectations slightly," said Amit Anwani, research analyst at Prabhudas Lilladher.

Cement, a key construction material, is a direct beneficiary of government's capital spending. India's infrastructure index .NIFTYINFR reversed gains following the budget announcement, and was last down 1.5%.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Varun H K)

(([email protected]; X: @MukherjeeHritam;))

** Dalmia Bharat DALB.NS up 1% at 1,786 rupees, reversing early losses

** Indian cement maker's Q3 profit tumbled 77% y/y and revenue also fell; however, it signalled improving results ahead

MARKET SHARE LOSS, PLANT ACCIDENT MAY HIT Q4

** JP Morgan ("underweight", TP cut to 1,478 rupees from 1490 rupees) says most of the Q3 profit miss was due to weaker volumes; adds recent Odisha plant accident could hurt Q4 volumes

** PhilipCapital ("neutral", TP: 1,900 rupees) says DALB "has not disappointed us" with two consecutive quarters of "reasonably large" earnings misses

** Sees no potential for rating upgrade until DALB addresses its earnings volatility

** Nomura ("reduce", TP: 1,680 rupees) assumes DALB has lost market share in its key south market due to increased competition

(Reporting by Hritam Mukherjee and Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Jan 21 (Reuters) - India Cements ICMN.NS reported a wider quarterly loss on Tuesday, hurt by soft demand and still-weak prices of the construction material, and also took one-time impairment charges.

The company, owned by UltraTech Cement ULTC.NS, said its losses before exceptional items and taxes, for the quarter ended December, widened to 3.07 billion rupees ($35.5 million), from a loss of 502.4 million rupees a year ago.

Cement prices, which had been falling for most of last year, were little changed through the quarter. Data from brokerages Nomura and Ambit showed that pan-India average cement price for the December quarter was still 11% lower on year.

Soft demand, triggered by a labour crunch in the company's core south Indian market, dragged the company's revenues down by 17% to 9.03 billion rupees.

During the reported quarter, India Cements incurred an exceptional cost worth nearly 2 billion rupees, consisting of impairment charges of certain assets and provisions for doubtful receivables from its units.

Earlier in the day, bigger rival Dalmia Bharat DALB.NS signalled optimism in cement demand and pricing going ahead after posting a slump in third-quarter earnings.

Late in the reported quarter, India's competition watchdog approved market leader UltraTech's over-55% stake buy in the company, one among the host of deals struck in the sector since ports-to-power Adani group's foray in 2022.

UltraTech is set to report its quarterly results later this week.

($1 = 86.5680 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Vijay Kishore)

(([email protected]; X: @MukherjeeHritam;))

Jan 17 (Reuters) - Dalmia Bharat Ltd DALB.NS:

• TO ACQUIRE 26% STAKE IN SOLIS URJA ENERGY FOR 17.5 MILLION RUPEES

Source text: ID:nNSE5TFLBX

Further company coverage: DALB.NS

(([email protected];;))

By Rajendra Jadhav

MUMBAI, Dec 23 (Reuters) - Sugarcane yields in India are declining due to last year's drought and this year's excessive rains, which could reduce the country's sugar production below consumption levels for the first time in eight years, farmers and industry officials said on Monday.

Lower-than-expected output by the world's second-largest sugar producer could eliminate the possibility of India allowing exports in the current season ending in September 2025, supporting global sugar prices SBc1, LSUc1.

Maharashtra, Karnataka, and Uttar Pradesh account for more than 80% of the country's total sugar production, with lower cane yields in these states prompting trade houses to reduce their output estimates for the 2024/25 season.

The production could fall to around 27 million metric tons from the last year's 32 million tons and below annual consumption of more than 29 million tons, said India head of a global trade house, who declined to be named.

"During the summer months, the cane crop faced prolonged stress due to the lack of water," B.B. Thombare, president of the West Indian Sugar Mills Association told Reuters.

"When the monsoon season began, there was excessive rainfall and limited sunshine, which also adversely affected the crop's growth."

The adverse weather curtailed cane yields by 10 to 15 tons per hectare, Thombare said.

The western state of Maharashtra and neighbouring Karnataka, which together produce nearly half of India's sugar, received lower-than-average rainfall in 2023, bringing down reservoir levels.

"Usually, we harvest 120 to 130 tons of cane from one hectare of land, but this year yields have fallen to 80 tons despite all our efforts," says Shrikant Ingle, who cultivated cane on five acres of land in Maharashtra's Solapur.

Drought did not affect the crop in Uttar Pradesh, the country's leading sugar-producing state in the north.

However, plantations in the state were impacted by red rot disease, which reduced sugarcane yields, said a senior state government official.

"To control the spread of the disease, we are advising farmers to adopt new cane varieties," the official said.

The downward revision in the production estimate has eliminated the possibility of any exports in the current season, the head of the trade house said.

Sugar industry seeks 2 million tons of exports, while the government says it may allow limited exports, if any surplus remains after ethanol needs are met.

(Reporting by Rajendra Jadhav; Editing by Janane Venkatraman)

(([email protected]; Reuters Messaging: x.com/Rajendra1857))

** Shares of Dalmia Bharat DALB.NS slips as much as 4.9% to 1,760.8 rupees, lowest since mid-Aug; last down 0.8%

** The cement maker's Q2 consol net profit fell 61% y/y to 460 mln rupees ($5.5 mln)

** Stock eyes busiest trading day in 15 sessions, volumes at 2.4x the 30-day avg

** Analysts' avg rating on stock is "buy", median PT is 2,050 rupees - LSEG data

** Stock extends YTD losses to ~19%

($1 = 84.0700 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

July 18 (Reuters) - Dalmia Bharat Ltd DALB.NS:

• DALMIA BHARAT Q1 CONSOL NET PROFIT 1.41 BILLION RUPEES; LSEG IBES PROFIT EST. 1.43 BILLION RUPEES

• DALMIA BHARAT Q1 CONSOL REVENUE FROM OPERATIONS 36.21 BILLION RUPEES; LSEG IBES EST. 35.68 BILLION RUPEES

Source text for Eikon: ID:nBSE2bhQLZ

Further company coverage: DALB.NS

(([email protected];))

July 4 (Reuters) - Dalmia Bharat Ltd DALB.NS:

• DALMIA BHARAT LTD - COMMENCEMENT OF COMMERCIAL PRODUCTION AT KADAPA, ANDHRA PRADESH

Source text for Eikon: ID:nBSE9m8yKP

Further company coverage: DALB.NS

(([email protected];))

Adds details, background, analyst quote in paragraph 4

By Hritam Mukherjee

BENGALURU, June 13 (Reuters) - Adani-backed Ambuja Cements ABUJ.NS bought out smaller rival Penna Cement Industries PENC.NS on Thursday for an enterprise value of 104.22 billion rupees ($1.25 billion), dialling up its presence in India's southern region.

The deal comes nearly a year after the conglomerate, through Ambuja, bought a majority stake in debt-ridden Sanghi Industries SNGI.NS, to boost its cement presence in the country and compete with market leader UltraTech Cement ULTC.NS.

Ambuja said the buyout of Penna Cement will help improve Adani's share in India's southern cement market by roughly 8%, with the deal coming a few months after UltraTech bolstered its own hold in the region by buying Kesoram's KSRM.NS cement assets.

"The acquisition of Penna is very favourable for Ambuja, as Adani's plants in the southern region were unmatched to UltraTech before. This region is key to Adani to boost its pan-India market share and narrow the lead UltraTech has across the country," said Ashutosh Murarka, research analyst at Choice Broking.

Indian cement makers are looking for ways, including dealmaking, to ramp up production and meet demand for the construction material amid upbeat housing momentum and strong government spending on infrastructure.

Adani Group, the ports-to-power conglomerate, had said in December it plans to spend $84 billion over the next decade towards infrastructure projects.

Ambuja will fund the buyout of Penna through internal accruals. The deal will give Ambuja access to Penna's operational facilities in Andhra Pradesh and Telangana, and under-construction facilities in Rajasthan.

Penna's cement assets, which total to 14 million tons per annum (MTPA), will help the conglomerate beef up its capacity as it aims to reach 140 MTPA by 2028. The latter's capacity, as of March-end, stood at 79 MTPA.

($1 = 83.5406 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala, Varun H K and Krishna Chandra Eluri)

(([email protected]; X: @MukherjeeHritam;))

** Shares of cement maker Dalmia Bharat DALB.NS down 2.73% after dropping as much as 4.1% earlier in the session

** DALB biggest loser on the Nifty Mid-cap 100 .NIFMDCP100, which is down 0.15%

** Co reported smaller-than-expected Q4 profit fall, aided by higher volumes in a seasonally strong quarter

** Core profit per ton of cement - a key profitability metric for cement cos - fell 22.2% Y/Y

** InCred Equities expected a 4% decline in core profit/ton, while Antique Stock Broking estimated 0.4% dip

** Co rated "buy" on avg, as per LSEG data

** DALB on track for third straight week of declines

** YTD, stock has fallen ~15%, while Nifty Mid-cap 100 is up 8.4%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

April 24 (Reuters) - Dalmia Bharat Ltd DALB.NS:

• DALMIA BHARAT MARCH-QUARTER CONSOL NET PROFIT 3.15 BILLION RUPEES; LSEG IBES PROFIT EST. 2.89 BILLION RUPEES

• DALMIA BHARAT MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 43.07 BILLION RUPEES; LSEG IBES EST. 41.78 BILLION RUPEES

• DALMIA BHARAT YEAR AGO MARCH-QUARTER CONSOL NET PROFIT 5.89 BILLION RUPEES, REVENUE FROM OPERATIONS 39.15 BILLION RUPEES

• FINAL DIVIDEND OF 5 RUPEES PER SHARE

Further company coverage: DALB.NS

(([email protected];;))

April 5 (Reuters) - Dalmia Bharat Ltd DALB.NS:

• DALMIA BHARAT LTD - UPDATE ON ONGOING LITIGATION

• DALMIA BHARAT LTD - DIVISION BENCH OF CALCUTTA HIGH COURT DISMISSED WRIT APPEALS FILED BY WBSIDC

Source text for Eikon: ID:nBSE31QLL0

Further company coverage: DALB.NS

(([email protected];))

** Shares of cement maker Dalmia Bharat DALB.NS fall 1% to 1,971.6 rupees

** Motilal Oswal cuts PT to 2,500 rupees from 2,800 rupees, maintains "Buy" rating on stock

** Brokerage says co’s key markets witnessed higher price correction (down 8-9% Q/Q) vs. other regions (down 3-7% Q/Q) in Q4 FY24

** Estimates higher decline in cement prices in co's core markets to lead to higher contraction in co's realization in Q4

** Cuts EBITDA estimates by 4% for FY24 and 8% for FY25 and FY26 due to weak pricing

** However, adds co likely to report double-digit volume growth in Q4 FY24, supported by healthy demand and market share gains

** Average rating of 27 analysts covering the stock, including Motilal Oswal, is 'buy'; stock currently trading below median PT of 2525 rupees - LSEG data

(Reporting by Yagnoseni Das in Bengaluru)

(([email protected];))

** Shares of Dalmia Bharat DALB.NS rise 2% to 2,198 rupees

** DALB among top gainers on Nifty Mid-cap 50 Index .NIMDCP50

** Cement maker said on Wednesday its Q3 consol net profit rose 29% to 2.63 bln rupees (~$32 mln), rev from ops up 7.3% Y/Y

** 26 analysts covering the stock on average have a "buy" rating; stock currently trading at ~14% discount to median PT of 2,550 rupees - LSEG data

** Stock rose 22% in 2023, logging fourth straight yearly gain

($1 = 83.1250 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

BENGALURU, Jan 24 (Reuters) - Indian cement manufacturer Dalmia Bharat DALB.NS reported a 29% rise in third-quarter profit on Wednesday, helped by sustained infrastructure demand.

The New Delhi-based company's consolidated net profit rose to 2.63 billion rupees ($31.7 million) for the quarter ended Dec. 31 from 2.04 billion rupees year ago.

Revenue from operations rose 7.3% to 36 billion rupees, while sales volume rose 8.1% to 6.8 million tonnes.

KEY CONTEXT

Cement makers have been benefiting from a demand surge in the housing and infrastructure sectors, aided further by the government's spending push.

Cement prices in India, on average, rose 2.5% sequentially during the quarter, brokerage Systematix said, helping manufacturers make more from their sales.

Last week, India's top cement manufacturer UltraTech Cement ULTC.NS reported a 68% jump in profit.

OCTOBER-DECEMBER STOCK PERFORMANCE

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

-- All data from LSEG

($1 = 83.0950 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Janane Venkatraman

)

(([email protected]; +91 7982114624;))

** Shares of Dalmia Bharat DALB.NS up ~3.5%, while other cement maker's are flat to up 2%

** Motilal Oswal says DALB among its top picks for 2024

** Says optimistic on DALB's long-term outlook due to capacity increase plans; strong balance sheet; and focus on sustainable growth via higher blended cement, green energy mix

** Says DALB's underperformance in past six months vs most cement stocks mainly due to delay in buying Jaiprakash Associates' JAIA.NS cement assets and demand slowdown in east

** Says DALB's expected earnings improvement as well as scale, capacity growth (without balance sheet leverage) to boost stock's multiples

** Brokerage reiterates "buy" and 2,800 rupees TP, vs current stock price of 2,357.30 rupees

** Avg rating of 27 brokers on DALB is also equivalent of "buy" but median TP is lower at 2,525 rupees - LSEG data

(Reporting by Dimpal Gulwani in Bengaluru)

(([email protected]))

Dec 5 (Reuters) - Dalmia Bharat Ltd DALB.NS:

• NAMES PUNEET YADU DALMIA AS MANAGING DIRECTOR & CEO

• TENURE OF MAHENDRA SINGHI AS MD, CEO WILL CULMINATE ON DECEMBER 8

Source text for Eikon: ID:nNSE3Gt5mR

Further company coverage: DALB.NS

(([email protected];))

** Shares of cement manufacturer Dalmia Bharat DALB.NS fall as much as 4.1% to 2,226.15 rupees, mark sharpest intraday pct loss since Aug. 14

** Nomura says DALB lost market share in Q2, especially in the east; believes co will struggle to regain market share in FY24; downgrades DALB to "neutral" from "buy", TP at 2,600 rupees

** Jefferies says DALB volume growth is likely below industry growth in Q2, maintains "buy" while raising TP to 2,680 rupees from 2,440 rupees

** Ambit Insights believes till the deal to acquire cement business of Jaiprakash Associates JAIA.NS is completed, concerns of competing bids remains

** Believes industry's pricing power should sustain through 4QFY24, but will be temporary due to post-election demand moderation among others in FY25

** DALB on Saturday reported 156.5% Y/Y rise in Q2 consolidated net profit while rev rose 6% Y/Y

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

** Shares of Dalmia Bharat DALB.NS rise as much as 3.52% to 2,373.35 rupees apiece

** Cement manufacturer reports 156.5% year-on-year rise in consolidated net profit in September quarter to 1.18 bln rupees

** Revenue from operations rises 6% to 31.49 bln rupees

** "Lower freight cost and other expenses helped DALB's profitability," says Jefferies; reiterates "buy" on DALB

** Antique Stock Broking raises target price to 2,500 rupees after the results from 2,400 rupees earlier; maintains "buy"

** Recent sharp price hikes will drive company's profitability - Antique

** Of the 28 analysts tracking DALB, nine have "strong buy", 11 "buy", five "hold" and three "sell"; median TP is 2250 rupees

** Stock up 24% in 2023 so far, including session's gains

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))

Dalmia Bharat Ltd DALB.NS:

• DALMIA BHARAT LTD- DALMIA CEMENT DECIDED TO SELECT PUNEET DALMIA AS MD & CEO

Source text for Eikon: ID:nNSE4q0bXJ

Further company coverage: DALB.NS

Adds details on results and background from paragraph 4 onwards

BENGALURU, July 21 (Reuters) - India's Ultratech Cement ULTC.NS on Friday reported first-quarter profit above expectations, as strong domestic demand offset higher raw material costs.

The top cement maker's consolidated profit for the quarter ended June 30 rose 6.6%% to 16.88 billion rupees ($205.8 million) from 15.84 billion rupees a year ago.

Analysts, on average, expected the company to post a profit of 16.33 billion rupees, according to Refinitiv data.

The Mumbai-based company's revenue from operations rose nearly 17% to 177.37 billion rupees.

Prices of raw materials rose 6%, with key ingredients like fly ash and slag ballooning, while energy costs increased 3%, the company said.

On July 3, Ultratech reported a 20% year-on-year rise in its Q1 grey cement sales at 28.6 million tons.

Analysts had expected increased demand for cement in infrastructure projects by the country's government to drive the company's growth in the latest quarter.

Demand for cement will remain strong across segments, while higher infrastructure spending ahead of general elections in 2024 is expected to further propel cement demand during this fiscal year, the company said in a statement.

On Thursday, smaller rival Dalmia Bharat DALB.NS reported a near-34% fall in Q1 profit due to a rise in raw material prices.

Ultratech shares remained little changed after the results were announced.

($1 = 82.0254 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Sohini Goswami)

(([email protected]; +918447554364;))

July 20 (Reuters) - Dalmia Bharat Ltd DALB.NS:

• JUNE-QUARTER CONSOL PROFIT 1.30 BILLION RUPEES VERSUS PROFIT 1.96 BILLION RUPEES

• JUNE-QTR CONSOL REV FROM OPS 36.24 BLN RUPEES VS 33.02 BLN RUPEES

Source text for Eikon: ID:nBSE5kRck0

Further company coverage: DALB.NS

(([email protected];))

** Shares of cement manufacturer Dalmia Bharat DALB.NS up as much as 2.48% to 2251 rupees, their highest since Sept 2021

** Stock poised for fourth consecutive session of gains

** Saltx Technology SALTb.ST signs MoU with Dalmia Bharat to implement EAC technology to make cement, CNBC-TV 18 tweets

** Stock has been trading above its 50-, 100-, and 200-day simple moving averages since March 29

** About 525,312 shares change hands as of 12:40 p.m. IST, vs 2.2x 30-day avg

** Stock now up ~20% YTD

(Reporting by Manvi Pant in Bengaluru)

(([email protected];))

BENGALURU, April 28 (Reuters) - India's top cement maker UltraTech Cement ULTC.NS reported a 32.3% fall in fourth-quarter profit on Friday, dented by a surge in power and fuel expenses.

Profit for the three months ended March 31 came in at 16.66 billion Indian rupees ($203.77 million) against 24.61 billion rupees a year ago.

($1 = 81.7570 Indian rupees)

(Reporting by Nallur Sethuraman in Bengaluru; Editing by Janane Venkatraman)

(([email protected]; (+91 8061822737); Reuters Messaging: [email protected]))

April 26 (Reuters) - Dalmia Bharat Ltd DALB.NS:

• EXECUTED AGREEMENT FOR ACQUISITION OF JP SUPER WITH AN ENTERPRISE VALUE OF 15 BILLION RUPEES

• EXECUTED SHARE PURCHASE AGREEMENT FOR ACQUIRING 74% SHAREHOLDING OF BHILAI JAYPEE CEMENT VALUED AT 6.66 BILLION RUPEES

• SIGNED A LONG-TERM LEASE AGREEMENT FOR NIGRIE CEMENT GRINDING UNIT OF 2 MILLION MTPA AT MADHYA PRADESH

Source text for Eikon: [ID:]

Further company coverage: DALB.NS

(([email protected];))