Dalmia Bharat share price today

Dalmia Bharat Ltd's share price was ₹1,407.00 at the close on 4 November 2026. It has been falling for 34 weeks. That is 22.5% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,326 and ₹2,162, and at that close it sat 10% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Dalmia Bharat Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 5 weeks running.

Over the last 7.9 years the share price moved +25% while the NIFTY 500 moved +142%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 1 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Two changes stood out: revenue up on a year earlier for 5 quarters in a row and operating margin down 3 points on a year earlier.

1. Revenue up on a year earlier for 5 quarters in a row

   In the June 2026 quarter revenue was ₹3,890 crore, +7% on a year earlier.

2. Operating margin down 3 points on a year earlier

   21% in the June 2026 quarter, from 24%.

For April to June 2026 (the quarter ended 30 June 2026), Dalmia Bharat reported revenue of ₹3,890 crore, up 7.0% from ₹3,636 crore a year earlier, and a profit of ₹192 crore, down 51.4% from ₹395 crore.

Dalmia Bharat results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 26 October 2026, about July to September 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Dalmia Bharat closed at ₹1,407.00 on 4 November 2026, down 30.9% from ₹2,037.50 a year earlier (7 November 2025) and down 30.9% over five years. Its highest weekly close since December 2018 was ₹2,411.40 on 12 September 2025.

Dalmia Bharat share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

413 weekly closes from 21 December 2018 to 4 November 2026.

4 Nov 2026: Dalmia Bharat closed at ₹1,407.00, up 6.1% on the week and down 16.4% on the month. 30 Oct 2026: ex-date for an interim dividend of ₹4 a share.

Earlier

• 26 Oct 2026: Dalmia Bharat held its results call for July to September 2026. Management guided: Q4 blended fuel cost per million kilocalories initially expected to rise ₹0.2, then qualified as too early to estimate.
• Results for April to June 2026: Revenue up 7.0% and profit down 51.4% on a year earlier.
• 23 Jun 2026: ex-date for a dividend of ₹5 a share.

Dalmia Bharat paid ₹9 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 0.64% at the ₹1,407.00 close on 4 November 2026. The last was an interim dividend of ₹4 a share, ex-date 30 October 2026.

Dalmia Bharat dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Dalmia Bharat Ltd paid out 15% of its profit as dividends in FY26, and it paid a dividend in 9 of its last 10 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 26 October 2026, Dalmia Bharat's management guided: Q4 blended fuel cost per million kilocalories initially expected to rise ₹0.2, then qualified as too early to estimate.

“Guided by this, we remain committed to maintaining leverage below two times on a sustainable basis, which will create a strong financial foundation for Dalmia's next phase of growth.”Yatin Malhotra, on the call for July to September 2026

What management guided

• Central ramp: Q3 operating profit dilution ₹100-125 per tonne; 35%-40% utilization by end FY27, break-even in January to March 2027, and Dalmia-standard operating profit aspired by FY28.
• H2 organic volume growth to track industry growth, estimated at 7%-8%.
• FY27 organic capital spending of ₹3,200-3,400 crore.
• Maintain sustainable leverage below 2.0x.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 26 October 2026.

When Dalmia Bharat reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Central trial activity converting into reported commercial volumes, with utilization and dilution tracking against the stated ramp path.

Dalmia Bharat is on 2 of our India lists: 52 week high & low and Small & mid cap stocks.

Dalmia Bharat Ltd earned ₹192 Cr of net profit in the Jun 2026 quarter, −51.4% on the same quarter a year earlier. Full-year FY26 profit was ₹1,157 Cr. Over 9 years profit has grown 43.8% a year on average. That is 4.9% of the quarter's revenue. The same quarter a year earlier earned ₹395 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹1,157 Cr (+65.5% on the year before).

Why profit moved: revenue changed +7.0% on a year earlier and the margin moved −3.0 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +105.0% and revenue +7.9%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Dalmia Bharat Ltd reported ₹3,890 Cr of revenue in the Jun 2026 quarter, +7.0% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 9 years it has grown 7.9% a year on average. The last full year, FY26, came in at ₹14,804 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹15,058 Cr.

FY26 revenue was ₹14,804 Cr, +5.9% on the year before.

Recent pace: the last four quarters grew +7.9% on average, against 7.9% a year over the longer run, so this year is growing at about the same pace as its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +7.6%, against +1.3% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +0.4%, against +5.6% a year (rolling over).

Dalmia Bharat Ltd's operating margin was 21.0% in the Jun 2026 quarter, 3.0 percentage points lower than the same quarter a year ago. Across 10 years it has been between 17.0% and 27.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −3.6 percentage points on the year while gross margin changed −1.8 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 260% of Dalmia Bharat Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹2,278 Cr of operating cash against ₹1,157 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹3,524 Cr of spending on assets, free cash was −₹1,246 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 260% of profit came in as cash: the cash cycle got 19 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: the bigger use of cash is spending on new assets, at 2.3× depreciation over three years. The next section checks what that spending is building.

Dalmia Bharat Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 5 days in FY26, up from −14 days in FY21. It spent ₹9,620 Cr on assets over the last 3 years. Customers take 21 days to pay, and stock sits for 186 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹14,804 Cr, each day of that cycle ties up about ₹40.6 Cr, so roughly ₹203 Cr is tied up in the business at any time.

FY26: customers took 21 days to pay and stock sat for 186 days, about 6.1 months of sales sitting as stock, for a full cycle of 5 days, longer than FY21's −14.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 186 days. Customers pay about 21 days after that. Suppliers are paid at 202 days. Together that makes the 5-day cycle.

Spending on assets: ₹9,620 Cr over the last 3 years, against ₹4,178 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹2,726 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Dalmia Bharat Ltd's P/E is 24.0×, near the low end of its own history: it has been lower only 4% of the time. Its usual P/E (the middle reading) is 38.0×, over 7.9 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹49.73.

Why the multiple is where it is: over the past year earnings per share moved +66.8% while the price moved −30.9%. Earnings did better than the price, which pulled the multiple down within its own range.

Where the price move came from: over 5 years the price moved −7.1% a year; about −2.6% a year came from earnings growth and about −4.5 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

Dalmia Bharat Ltd's business is giving mixed signals. Revenue growth is rising at +7.6% while profit growth is falling at +0.4%, so the lines disagree and each one tells part of the story. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: when the lines disagree, each line above matters more than any single label.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Dalmia Bharat Ltd earned a ROCE of 8% in FY26. That is up from a low of 4% in FY19. Its return on capital used (ROIC) is 6.6 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses.

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

It comes from a 7.8% net margin and 0.45× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a 7.8% net margin × 0.45× asset turnover × 1.85× leverage (assets divided by equity) ≈ 6.5% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 5.4% − 12.0% = −6.6 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

The 5.4% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 7.1%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

Dalmia Bharat Ltd has total debt of ₹10,284 Cr against shareholder equity of ₹18,011 Cr as of Sep 2026, so its debt is 0.57× its equity. Year by year, that ratio went from 0.20 in FY22 to 0.41 in FY26. Keep that borrowing in mind when reading the returns on this page.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.