Dalmia Bharat Q2 results miss estimates, swings to ₹205 crore loss on exceptional charge

Dalmia Bharat reported a consolidated net loss of ₹205 crore for the September quarter of FY27, compared with a net profit of ₹239 crore in the year-ago period, weighed by a one-time exceptional charge.

Revenue from operations rose 4.3% year-on-year to ₹3,563 crore in Q2 FY27 from ₹3,417 crore in the corresponding quarter last year. However, revenue came in below the CNBC-TV18 poll estimate of ₹3,646 crore.

The cement maker's earnings before interest, tax, depreciation and amortisation (EBITDA) declined 29.2% year-on-year to ₹493 crore from ₹696 crore a year earlier. EBITDA was below the CNBC-TV18 poll estimate of ₹552 crore.

EBITDA margin contracted to 13.84% in the September quarter from 20.37% in the year-ago period, compared with the poll estimate of 15.14%.

Exceptional charge of ₹339 crore

According to the company's exchange filing, Dalmia Bharat recognised an impairment loss of ₹282 crore during the quarter ended September 30, 2026, following an assessment of the recoverable economic value of certain assets.

The impairment included three captive power plants, reflecting the evolving energy mix as the share of lower-cost renewable energy sources continues to increase. It also included an impairment charge on a brand that the company has discontinued.

Separately, the company implemented a separation scheme for eligible employees at select units, resulting in a one-time charge of ₹57 crore during the quarter.

Together, these items contributed to a one-time exceptional charge of ₹339 crore in Q2 FY27.

Dalmia Bharat declares interim dividend

The company's board of directors declared an interim dividend of ₹4 per equity share, representing 200% of the face value of ₹2 per share. The decision was taken at the board meeting held on October 26, 2026.

Shares of Dalmia Bharat ended 2.17% higher at ₹1,625.80 on the NSE. However, the stock declined 4.4% over the past month and is down 23.9% so far this year.