India's Dalmia Bharat posts 29% rise in Q3 profit on strong infra demand

Shree Cement

24/01/2024 11:19

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
    
    
                     Valuation (next 12   Estimates (next 12          Analysts' sentiment
                          months)              months)         
            RIC     PE     EV/EB  Price/  Revenue   profit     Mean     # of      Stock to  Div
                           ITDA   Sales   growth    growth     rating*  analysts  price     yield
                                                                                  target**  (%)
 Dalmia                                                                                  
 UltraTech                                                                               
 Shree                                                                                   
 Ambuja                                                                                  
    
* 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)

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Dalmia Bharat shares vs Peers    https://tmsnrt.rs/3u0VDNl
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 (Reporting by Ashish Chandra in Bengaluru; Editing by Janane Venkatraman
)
 ((ashish.chandra@thomsonreuters.com; +91 7982114624;))