Street View: India's Dalmia Bharat falls to 4-year low on quarterly loss

Dalmia Bharat

27/10/2026 04:55

** Shares of Dalmia Bharat DALB.NS down 4.9% to 1,546.1 rupees
** Stock fell as much as 6.1% to 1,526.1 rupees, lowest since October 2022
** Cement manufacturer posts consolidated net loss of 2.07 billion rupees ($21.75 million) compared to a profit of 2.36 billion rupees a year ago
     
WEAK VOLUMES, HIGH COSTS CLOUD PROFIT OUTLOOK
** Morgan Stanley ("Underweight"; PT: 1,640 rupees) says results very weak - volumes hurt by seasonality, costs remain high
** Brokerage expects elevated variable costs despite operating improvements in H2
** Macquarie ("Outperform"; PT: 2,237 rupees) says EBITDA misses estimates on modest volume growth and lower prices
** ICICI Securities downgrades to "hold" from "add" and cuts PT to 1,620 rupees from 2,130 rupees; says rising fuel costs hurt EBITDA 
** ICICI Securities adds drought concerns in several states and surging fuel costs may pressure margins amid weak profitability
($1 = 95.1850 Indian rupees)

 (Reporting by Mridula Kumar in Bengaluru)
 ((Mridula.Kumar@thomsonreuters.com;))