India: Dalmia Bharat recorded a 2% year-on-year decline in cement sales volumes to 6.7Mt in the third quarter of the 2025 financial year, compared to 6.8Mt in the previous corresponding period. Profit before tax dropped by 77% to US$9.6m, while earnings by interest, taxation, depreciation and amortisation (EBITDA) dropped by 34.5% to US$5.9m from US$9m in the same period last year.
Managing director and CEO Puneet Dalmia said “After multiple years of high growth, India witnessed a slightly slow start to the year, but the government's continuous focus on investment-led growth underpin my confidence in a rebound of the Indian economy. In this backdrop, I believe cement demand growth will regain momentum. Our capacity expansion plans are on track, as we will reach 49.5Mt/yr by the end of 2025.”
CFO Dharmender Tuteja added “Cement demand growth in the third quarter fell short of our earlier expectations. Our volumes declined by 2% year-on-year while EBITDA fell 34.5% year-on-year to US$5.9m with persistent weakness in cement prices. With demand now gaining traction and prices showing signs of optimism, we are confident about a stronger performance in the upcoming quarters.”
