# Dalmia Bharat share price today (Dalmia Bharat Ltd, NSE: DALBHARAT)

> Dalmia Bharat share price today: ₹1,381.40 at the NSE close on 3 November 2026, down 34.1% in a year. Dalmia Bharat (NSE: DALBHARAT) is worth ₹25,914 crore, trades at a P/E of 23.5 and has closed between ₹1,326.20 and ₹2,162.40 over the past 52 weeks. > Dalmia Bharat Ltd's P/E is near the low end of its own history, higher than only 3% of past readings, and its quarterly results are still getting worse. DALBHARAT · Cement · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/dalmia-bharat-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹1,381.40 (−34.1% in a year)
- P/E: 23.5× (lower than 97% of the last 7.9 years)
- Revenue (Jun 2026): ₹3,890 Cr (+7.0% on a year ago)
- Profit (Jun 2026): ₹192 Cr (−51.4% on a year ago)
- Operating margin: 21.0% (−3.0 points on a year ago)
- ROCE: 8%, FY26
- ROIC: 5.4%, against a 12.0% cost of capital: −6.6 points

The main question: yearly earnings per share moved +66.8% while the share price moved −34.1%. ## What is the Dalmia Bharat share price today? Dalmia Bharat Ltd's share price was ₹1,381.40 at the close on 3 November 2026. It has been falling for 34 weeks. That is 23.9% 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 7% of the way up from that low. 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 +22% 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. ## What changed at Dalmia Bharat this quarter? 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%. ## What are Dalmia Bharat's latest quarterly results? 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

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹3,890 crore | ₹3,636 crore | +7.0% |
| Profit | ₹192 crore | ₹395 crore | −51.4% |
| Earnings per share | ₹10.02 | ₹20.95 | −52.2% |
| Operating margin | 21.0% | 24.0% | −3.0 points |

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.)

## What is the Dalmia Bharat share price history? Dalmia Bharat closed at ₹1,381.40 on 3 November 2026, down 34.1% from ₹2,096.80 a year earlier (31 October 2025) and down 32.1% 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

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,591.30 | −13.2% |
| 1 month ago · 1 Oct 2026 | ₹1,682.10 | −17.9% |
| 6 months ago · 30 Apr 2026 | ₹1,906.30 | −27.5% |
| 1 year ago · 31 Oct 2025 | ₹2,096.80 | −34.1% |
| 3 years ago · 3 Nov 2023 | ₹2,073.65 | −33.4% |
| 5 years ago · 4 Nov 2021 | ₹2,034.85 | −32.1% |
| Earliest weekly close in our records · 21 Dec 2018 | ₹1,130.05 | +22.2% |
| Highest weekly close since December 2018 · 12 Sep 2025 | ₹2,411.40 | −42.7% |
| Lowest weekly close since December 2018 · 3 Apr 2020 | ₹422.30 | +227.1% |
| 52-week high (weekly close) · 16 Jan 2026 | ₹2,162.40 | −36.1% |
| 52-week low (weekly close) · 30 Oct 2026 | ₹1,326.20 | +4.2% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (413 weekly closes from 21 December 2018 to 3 November 2026.)

## What is the latest news on Dalmia Bharat? 3 Nov 2026: Dalmia Bharat closed at ₹1,381.40, down 13.2% on the week and down 17.9% 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. ## What dividend does Dalmia Bharat pay? Dalmia Bharat paid ₹9 a share in regular dividends in the 12 months to 4 November 2026 (2 payments), a yield of 0.65% at the ₹1,381.40 close on 3 November 2026. The last was an interim dividend of ₹4 a share, ex-date 30 October 2026. ### Dalmia Bharat dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 30 Oct 2026 | ₹4 | Interim | same day |
| 23 Jun 2026 | ₹5 | Dividend | same day |
| 24 Oct 2025 | ₹4 | Interim | 25 Oct 2025 |
| 23 Jun 2025 | ₹5 | Dividend | same day |
| 25 Oct 2024 | ₹4 | Interim | 26 Oct 2024 |
| 19 Jun 2024 | ₹5 | Dividend | same day |
| 20 Oct 2023 | ₹4 | Interim | 21 Oct 2023 |
| 23 Jun 2023 | ₹5 | Dividend | same day |
| 10 Nov 2022 | ₹4 | Interim | 11 Nov 2022 |
| 23 Jun 2022 | ₹5 | Dividend | 25 Jun 2022 |
| 9 Nov 2021 | ₹4 | Interim | 10 Nov 2021 |
| 21 Sep 2021 | ₹1.33 | Dividend | 22 Sep 2021 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did Dalmia Bharat management say on the latest results call? 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](https://files.tijorifinance.com/insight/india/35447/Conference Call/CC-Oct26.pdf). (From the call for July to September 2026, 26 October 2026.)

## What to watch in Dalmia Bharat's next results? 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. - What to check (from the call)
- Central trial activity converting into reported commercial volumes, with utilization and dilution tracking against the stated ramp path. - Price recovery offsetting further fuel and input-cost pressure and improving per-tonne earnings. - East and Northeast demand recovery after floods, reflected in company volume trends against the industry-aligned H2 outlook. - Tamil Nadu mineral-bearing tax cessation, including progress on the government portal and payment process. ## Which stock lists is Dalmia Bharat on? Dalmia Bharat is on 2 of our India lists: 52 week high & low and Small & mid cap stocks. - [52 week high & low 52-week position: At 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Small & mid cap stocks Size rank in India: 309](https://www.sectoralpha.in/small-cap-stocks-india)

## Is Dalmia Bharat profitable? 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. 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. ## How much revenue does Dalmia Bharat make, and is it growing? 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. 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). ## How much of every ₹100 of sales does Dalmia Bharat keep? 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. 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. ## Is Dalmia Bharat's profit turning into cash? 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. 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. ## Where does Dalmia Bharat's cash go? 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. 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. ## What is Dalmia Bharat's P/E ratio, and how does it compare with its own history? Dalmia Bharat Ltd's P/E is 23.5×, near the low end of its own history: it has been lower only 3% 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. 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 −34.1%. 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 −7.5% a year; about −2.6% a year came from earnings growth and about −4.9 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. ## Is the Dalmia Bharat business getting better or worse? 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. Why it matters: when the lines disagree, each line above matters more than any single label. ## How much does Dalmia Bharat earn on its capital? 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. 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. ## Does Dalmia Bharat have too much debt? 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. ## What is the Dalmia Bharat shareholding pattern? Domestic institutions raised their stake in Dalmia Bharat Ltd by 4.3 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 18.9% of the company. Foreign institutions moved −1.5 points over the same period, to 7.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +4.3 points over 8 quarters, to 18.9%; Foreign institutions: −1.5 points over 8 quarters, to 7.4%; Promoters: +0.0 points over 8 quarters, to 55.8%. Why the owners changed: foreign institutions moved −1.5 points and domestic institutions +4.3 points over 8 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Dalmia Bharat from balance-sheet trouble? For Dalmia Bharat Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Dalmia Bharat rank in its industry? 42.2 out of 100, rank 16 of 26 in Cement, with 85% of the evidence available. Dalmia Bharat Ltd scores 42.2 out of 100 against the 26 companies it is compared with in Cement, ranking 16. The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. The four parts add up to the total exactly: 10.2 + 7.4 + 16.6 + 8 = 42.2. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Dalmia Bharat compared with? Dalmia Bharat ranks 16 of 26 Cement companies on the 4-Factor Sector Score, with 42.2 out of 100. 1. [NCL Industries Ltd](https://www.sectoralpha.in/stocks/ncl-industries-ltd) NCLIND · quiet · Most evidence points up · 96% evidence 72.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.2/35 · Revenue 3.7% · Profit 100% · Operating margin change -3 points · 88% evidence Capital efficiency 18.5/25 · ROCE 14.6% · Operating margin 12% · 100% evidence Valuation 20.0/20 · P/E 5.8× · PEG 0.14 · 100% evidence Relative strength 12.7/20 · Lead over its industry 3.5% · Lead over NIFTY 500 -9.2% · 1 year -19.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 21.2 + 18.5 + 20 + 12.7 = 72.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Star Cement Ltd](https://www.sectoralpha.in/stocks/star-cement-ltd) STARCEMENT · basing · Most evidence points up · 81% evidence 67.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.8/35 · Revenue 14.5% · Profit 55.1% · Operating margin change -4 points · 88% evidence Capital efficiency 22.5/25 · ROCE 16.6% · Operating margin 21% · 100% evidence Valuation 11.9/20 · P/E 18.3× · PEG 1.12 · 100% evidence Relative strength 9.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -14.1% · 1 year -33.4% · 25% evidence · 0 of 12 weeks ahead Exact sum: 23.8 + 22.5 + 11.9 + 9.5 = 67.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Rain Industries Ltd](https://www.sectoralpha.in/stocks/rain-industries-ltd) RAIN · losing its lead · Evidence leans up · 71% evidence 63.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.3/35 · Revenue 17% · Profit 100% · Operating margin change 5 points · 83% evidence Capital efficiency 10.8/25 · ROCE 8.3% · Operating margin 19% · 76% evidence Valuation 11.0/20 · P/E 12.2× · PEG n/a · 15% evidence Relative strength 14.0/20 · Lead over its industry 39.3% · Lead over NIFTY 500 23.4% · 1 year 45.4% · 100% evidence · 9 of 12 weeks ahead Exact sum: 27.3 + 10.8 + 11 + 14 = 63.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [UltraTech Cement Ltd](https://www.sectoralpha.in/stocks/ultratech-cement-ltd) ULTRACEMCO · turning · Evidence leans up · 67% evidence 62.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.0/35 · Revenue 16.9% · Profit 21.1% · Operating margin change 0 points · 95% evidence Capital efficiency 16.9/25 · ROCE 12.7% · Operating margin 16% · 76% evidence Valuation 10.1/20 · P/E 36.6× · PEG n/a · 50% evidence Relative strength 11.2/20 · Lead over its industry n/a · Lead over NIFTY 500 -0.3% · 1 year -7.6% · 25% evidence · 0 of 12 weeks ahead Exact sum: 24 + 16.9 + 10.1 + 11.2 = 62.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 5. [JSW Cement Ltd](https://www.sectoralpha.in/stocks/jsw-cement-ltd) JSWCEMENT · basing · Evidence leans up · 60% evidence 59.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.8/35 · Revenue 19.3% · Profit 100% · Operating margin change -4 points · 95% evidence Capital efficiency 12.3/25 · ROCE 11.1% · Operating margin 15% · 76% evidence Valuation 10.4/20 · P/E 20× · PEG n/a · 15% evidence Relative strength 10.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -1.6% · 1 year -15.3% · 25% evidence · 0 of 12 weeks ahead Exact sum: 25.8 + 12.3 + 10.4 + 10.8 = 59.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Birla Corporation Ltd](https://www.sectoralpha.in/stocks/birla-corporation-ltd) BIRLACORPN · basing · Evidence leans up · 85% evidence 53.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.7/35 · Revenue 3.3% · Profit 0.6% · Operating margin change -5 points · 100% evidence Capital efficiency 12.5/25 · ROCE 9.8% · Operating margin 9% · 100% evidence Valuation 18.6/20 · P/E 11.9× · PEG 0.33 · 100% evidence Relative strength 9.4/20 · Lead over its industry n/a · Lead over NIFTY 500 -15.4% · 1 year -34.1% · 25% evidence · 0 of 12 weeks ahead Exact sum: 12.7 + 12.5 + 18.6 + 9.4 = 53.2 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 7. [Shree Cement Ltd](https://www.sectoralpha.in/stocks/shree-cement-ltd) SHREECEM · basing · Evidence leans up · 100% evidence 51.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.2/35 · Revenue 14.3% · Profit -7.7% · Operating margin change -3 points · 100% evidence Capital efficiency 14.4/25 · ROCE 10.3% · Operating margin 17% · 100% evidence Valuation 5.4/20 · P/E 52.4× · PEG 3.8 · 100% evidence Relative strength 15.8/20 · Lead over its industry 9.7% · Lead over NIFTY 500 -3.8% · 1 year -18.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.2 + 14.4 + 5.4 + 15.8 = 51.8 · What this means: Relative strength against the index is -3.8%, and revenue and profit growth are weak. 8. [Mangalam Cement Ltd](https://www.sectoralpha.in/stocks/mangalam-cement-ltd) MANGLMCEM · losing its lead · Evidence leans up · 96% evidence 51.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.1/35 · Revenue 0.5% · Profit 90% · Operating margin change -5 points · 88% evidence Capital efficiency 10.3/25 · ROCE 11% · Operating margin 12% · 100% evidence Valuation 13.9/20 · P/E 18.6× · PEG 0.68 · 100% evidence Relative strength 14.2/20 · Lead over its industry 19.2% · Lead over NIFTY 500 5.3% · 1 year 13% · 100% evidence · 7 of 12 weeks ahead Exact sum: 13.1 + 10.3 + 13.9 + 14.2 = 51.5 · What this means: Relative strength against the index is 5.3%, and revenue and profit growth are weak. 9. [JK Lakshmi Cement Ltd](https://www.sectoralpha.in/stocks/jk-lakshmi-cement-ltd) JKLAKSHMI · quiet · Too little evidence to rank firmly · 56% evidence 49.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.5/35 · Revenue 8.7% · Profit 0.5% · Operating margin change -4 points · 83% evidence Capital efficiency 14.4/25 · ROCE 12% · Operating margin 14% · 76% evidence Valuation 10.8/20 · P/E 14.7× · PEG n/a · 15% evidence Relative strength 8.2/20 · Lead over its industry n/a · Lead over NIFTY 500 -24.9% · 1 year -47.8% · 25% evidence · 0 of 12 weeks ahead Exact sum: 16.5 + 14.4 + 10.8 + 8.2 = 49.9 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 10. [Nuvoco Vistas Corporation Ltd](https://www.sectoralpha.in/stocks/nuvoco-vistas-corporation-ltd) NUVOCO · losing its lead · Evidence leans down · 78% evidence 49.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.4/35 · Revenue 10.6% · Profit 51.5% · Operating margin change 0 points · 100% evidence Capital efficiency 11.2/25 · ROCE 7% · Operating margin 15% · 100% evidence Valuation 4.9/20 · P/E 25.8× · PEG 8.14 · 65% evidence Relative strength 11.6/20 · Lead over its industry n/a · Lead over NIFTY 500 1.5% · 1 year -22.7% · 25% evidence · 5 of 12 weeks ahead Exact sum: 21.4 + 11.2 + 4.9 + 11.6 = 49.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Orient Cement Ltd](https://www.sectoralpha.in/stocks/orient-cement-ltd) ORIENTCEM · basing · Evidence leans down · 93% evidence 48.2 out of 100 Growth Capital Valuation Relative
12. [India Cements Ltd](https://www.sectoralpha.in/stocks/india-cements-ltd) INDIACEM · basing · Evidence leans down · 75% evidence 47.5 out of 100 Growth Capital Valuation Relative
13. [J K Cements Ltd](https://www.sectoralpha.in/stocks/j-k-cements-ltd) JKCEMENT · quiet · Evidence leans down · 85% evidence 47.3 out of 100 Growth Capital Valuation Relative
14. [K C P Ltd](https://www.sectoralpha.in/stocks/k-c-p-ltd) KCP · basing · Evidence leans down · 63% evidence 46.8 out of 100 Growth Capital Valuation Relative
15. [The Ramco Cements Ltd](https://www.sectoralpha.in/stocks/the-ramco-cements-ltd) RAMCOCEM · quiet · Evidence leans down · 81% evidence 44.2 out of 100 Growth Capital Valuation Relative
16. Dalmia Bharat Ltd this page DALBHARAT · quiet · Evidence leans down · 85% evidence 42.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.2/35 · Revenue 7.6% · Profit 0.4% · Operating margin change -16.4 points · 100% evidence Capital efficiency 7.4/25 · ROCE 7.6% · Operating margin 3.6% · 100% evidence Valuation 16.6/20 · P/E 22.6× · PEG 0.72 · 100% evidence Relative strength 8.0/20 · Lead over its industry n/a · Lead over NIFTY 500 -25.6% · 1 year -36.8% · 25% evidence · 2 of 12 weeks ahead Exact sum: 10.2 + 7.4 + 16.6 + 8 = 42.2 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 17. [HeidelbergCement India Ltd](https://www.sectoralpha.in/stocks/heidelbergcement-india-ltd) HEIDELBERG · quiet · Evidence leans down · 100% evidence 41.7 out of 100 Growth Capital Valuation Relative
18. [ACC Ltd](https://www.sectoralpha.in/stocks/acc-ltd) ACC · quiet · Evidence leans down · 85% evidence 40.4 out of 100 Growth Capital Valuation Relative
19. [Ambuja Cements Ltd](https://www.sectoralpha.in/stocks/ambuja-cements-ltd) AMBUJACEM · basing · Evidence leans down · 82% evidence 35.7 out of 100 Growth Capital Valuation Relative
20. [BIGBLOC Construction Ltd](https://www.sectoralpha.in/stocks/bigbloc-construction-ltd) BIGBLOC · basing · Evidence leans down · 64% evidence 35.2 out of 100 Growth Capital Valuation Relative
21. [Sagar Cements Ltd](https://www.sectoralpha.in/stocks/sagar-cements-ltd) SAGCEM · quiet · Most evidence points down · 64% evidence 34.7 out of 100 Growth Capital Valuation Relative
22. [Deccan Cements Ltd](https://www.sectoralpha.in/stocks/deccan-cements-ltd) DECCANCE · quiet · Most evidence points down · 89% evidence 34.0 out of 100 Growth Capital Valuation Relative
23. [Saurashtra Cement Ltd](https://www.sectoralpha.in/stocks/saurashtra-cement-ltd) SAURASHCEM · quiet · Most evidence points down · 79% evidence 28.1 out of 100 Growth Capital Valuation Relative
24. [Shree Digvijay Cement Co. Ltd](https://www.sectoralpha.in/stocks/shree-digvijay-cement-co-ltd) SHREDIGCEM · quiet · Most evidence points down · 72% evidence 27.2 out of 100 Growth Capital Valuation Relative
25. [Shiva Cement Ltd](https://www.sectoralpha.in/stocks/shiva-cement-ltd) SHIVACEM · Too little evidence to rank firmly · 48% evidence 51.0 out of 100 Growth Capital Valuation Relative
26. [Prism Johnson Ltd](https://www.sectoralpha.in/stocks/prism-johnson-ltd) PRSMJOHNSN · basing · Too little evidence to rank firmly · 49% evidence 44.2 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Cement](https://www.sectoralpha.in/sectors/cement), all 26 compared on one page. ## Which companies are close to Dalmia Bharat in size? Dalmia Bharat is the 5th largest of 26 Cement companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Ambuja Cements, Shree Cement and J K Cements. Just below it: ACC, The Ramco Cements and JSW Cement. ### Cement companies close in size

1. [Ambuja Cements Ltd](https://www.sectoralpha.in/stocks/ambuja-cements-ltd) ₹86,484 crore
2. [Shree Cement Ltd](https://www.sectoralpha.in/stocks/shree-cement-ltd) ₹82,968 crore
3. [J K Cements Ltd](https://www.sectoralpha.in/stocks/j-k-cements-ltd) ₹36,977 crore
4. Dalmia Bharat Ltd ₹24,875 crore
5. [ACC Ltd](https://www.sectoralpha.in/stocks/acc-ltd) ₹21,220 crore
6. [The Ramco Cements Ltd](https://www.sectoralpha.in/stocks/the-ramco-cements-ltd) ₹17,005 crore
7. [JSW Cement Ltd](https://www.sectoralpha.in/stocks/jsw-cement-ltd) ₹15,747 crore

[All 26 Cement companies, largest first](https://www.sectoralpha.in/sectors/cement#all-companies)

### Companies close in size in other industries

1. [Neuland Laboratories Ltd](https://www.sectoralpha.in/stocks/neuland-laboratories-ltd) ₹25,275 crore · Pharma - API & CRAMS
2. [Gabriel India Ltd](https://www.sectoralpha.in/stocks/gabriel-india-ltd) ₹25,255 crore · Auto Ancillaries - Shock Absorber
3. Dalmia Bharat Ltd ₹24,875 crore
4. [Bandhan Bank Ltd](https://www.sectoralpha.in/stocks/bandhan-bank-ltd) ₹24,865 crore · Banks - Private
5. [Netweb Technologies India Ltd](https://www.sectoralpha.in/stocks/netweb-technologies-india-ltd) ₹24,805 crore · Data Centre

## What else do people ask about Dalmia Bharat? ### What is Dalmia Bharat's share price today? Dalmia Bharat Ltd's share price is ₹1,381.40, −34.1% over the past year. The whole company is worth ₹25,914 Cr on the market. In the last 52 weeks it traded between ₹1,326 to ₹2,162; today it is 7% of the way up from the low, 23.9% below its 200-day average (as of 3 November 2026). ### What were Dalmia Bharat's latest quarterly results? Dalmia Bharat Ltd reported revenue of ₹3,890 Cr and net profit of ₹192 Cr for the Jun 2026 quarter. Revenue rose 7.0% and profit fell 51.4% compared with a year earlier. Earnings per share were ₹10.02. The operating margin was 21.0%, 3.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Dalmia Bharat's market cap? Dalmia Bharat Ltd's market capitalisation is ₹25,914 Cr at a share price of ₹1,381.40. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Dalmia Bharat performing? Dalmia Bharat Ltd's share price has been falling for 34 weeks. In its latest quarter, revenue rose 7.0% and profit fell 51.4% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 5 weeks running (as of 3 November 2026). ### Will Dalmia Bharat's share price go up? This page does not forecast Dalmia Bharat Ltd's share price. What it shows instead: the share price is ₹1,381.40, and it has been falling for 34 weeks. Its P/E of 23.5× is higher than 3% of its own last 8 years (as of 3 November 2026). ### Does Dalmia Bharat have too much debt? Dalmia Bharat Ltd has a moderate amount of debt: its debt is 0.41× its equity, and its operating profit is 6 times its interest bill. FY26 borrowings were ₹7,406 Cr against equity of ₹17,979 Cr. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is Dalmia Bharat in its business cycle? Dalmia Bharat Ltd's FY26 operating margin was 21.0%, against a 10-year range of 17.0% to 27.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 21.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Dalmia Bharat story? The main question: yearly earnings per share moved +66.8% while the share price moved −34.1%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Dalmia Bharat a stock worth studying right now? What the numbers show: Dalmia Bharat Ltd's P/E is near the low end of its own history, higher than only 3% of past readings, and its quarterly results are still getting worse. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Dalmia Bharat share price forecast for 2026? What management itself guided: Q4 blended fuel cost per million kilocalories initially expected to rise ₹0.2, then qualified as too early to estimate. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india

This is research, not advice. We’re not SEBI-registered.