Displaying items by tag: Dalmia Bharat

India: Dalmia Bharat has reported a 60.5% decline in net profit to US$5.83m for the second quarter ending 30 September 2024, down from US$14.8m in the same period in 2023. Revenue from operations slightly decreased by 2% to US$36.7m, compared to US$37.5m in 2023. Earnings before interest, taxation, depreciation and amortisation (EBITDA) also fell by 27% to US$5.16m. However, the company recorded an 8.4% year-on-year increase in cement volumes to 6.7Mt.

Managing director and CEO Puneet Dalmia said "I believe that as India grows, the cement sector will continue to flourish. We are actively working to announce our Phase II expansions within the next nine months and achieve our interim milestone of 75Mt/yr by the 2028 financial year."

India: Oriana Power subsidiary TrueRE Surya has won a contract to build a 128MW solar power plant in Tamil Nadu for Dalmia Cement (Bharat), supporting its target to use 100% renewable electricity by 2030 and become carbon negative by 2040.

The project cost approximately US$62m and will be commissioned within the next 12 months, according to Energetica India Magazine. As part of the contract, Dalmia Cement (Bharat) will acquire 26% of TrueRE Surya for US$5.3m, with the transaction finalising within four to six months.

Oriana Power Chief business officer Anirudh Saraswat said “We are also humbled by the trust posed in Oriana Power’s ability to execute mega solar projects by the largest companies and are equally excited to take another big step forward in helping India meet its renewable energy goals through this partnership.”

India: Dalmia Bharat announced that its subsidiary, Dalmia Cement (Bharat), has entered into a share subscription and shareholders agreement to acquire a 26% stake in Truere Surya for US$5.3m. Truere Surya will establish a solar power project in Tamil Nadu, aligning with Dalmia Bharat’s goals to become carbon negative by 2040.

The solar project will have a capacity of 128MW. Completion of the transaction is anticipated within 4 - 6 months, pending customary conditions.

India: Dalmia Bharat reported a net profit rise to US$17.3m for the first quarter of the 2025 financial year, up from US$17.2m crore in the same period in 2024. The company’s revenue from operations remained steady at US$433m. Cement sales volumes increased by 6% year-on-year to 7.4Mt, compared to 7Mt in 2023.

Managing director and CEO, Puneet Dalmia, said "During the quarter, even though cement demand was weak across regions amidst general elections, our volumes grew 6.2% year-on-year while margins improved to 18.5% from 16.9% in 2023."

India: Dalmia Bharat has expanded the capacity of its plant in Kadapa, Andhra Pradesh, by an additional 1Mt/yr. The Kadapa unit's expansion, which cost US$25m, raises the company's total installed capacity to 46.6Mt/yr. The company plans to increase its total installed capacity to 110-130Mt/yr by 2031.

India: Dalmia Cement (Bharat) has signed a power purchase agreement with BluPine Energy to establish a 47MW solar power plant in Karnataka. The plant will generate approximately 94 million kWh of electricity annually and reduce over 85,000t/yr of CO₂ emissions.

CEO of BluPine Energy, Neerav Nanavaty, said "The solar plant in Karnataka will not only produce clean energy but also foster local economic growth and support environmental sustainability. This project will help reduce operating costs and improve energy efficiency."

India: Dalmia Cement (Bharat) will acquire a 19.2% stake in Amplus Kaveri Solar for US$1.94m. This transaction is subject to customary conditions and is expected to complete within eight to nine weeks.

India: Dalmia Bharat has launched a new mill at its Ariyalur manufacturing unit in Tamil Nadu. The new 1Mt/yr cement unit increases the company's total manufacturing capacity to 45.6Mt/yr. This brownfield expansion is valued at US$24.5m and aligns with the company’s aim to increase its capacity to 110-130Mt/yr by 2031.

Managing director & CEO Puneet Dalmia said "Driven by robust infrastructure development, housing and investments, we anticipate cement demand to rise. This increased capacity will facilitate the growing demand in the southern region."

India: Dalmia Bharat expects to conclude its acquisition of Jaypee Cement by the end of September 2024, six months later than previously anticipated. The Hindu Business Line newspaper has reported that the group attributed the postponement to ‘procedural delays,’ including pending approvals from banks, on-going arbitration between Jaiprakash Associates and UltraTech Cement and some ‘lack of clarity’ around existing joint ventures between Jaiprakash Associates and state-owned Steel Authority of India.

Dalmia Bharat said “We are progressing in the right direction. These are procedural delays over which we have no control.”

India: Dalmia Cement has launched new branding identifying itself as a Roof Column Foundation Expert. The identity is accompanied by the slogan ‘Roof, column, foundation strong, home strong.’ The company says that the branding will help it to position its cement as first choice in business-to-consumer (B2C) building materials retailing. The campaign especially targets towns of 20,000 – 100,000 people, outside of India’s metropolitan centres. The producer aims to raise its B2C sales from 65% to 70% in the 2025 financial year. It now operates a 45,000-strong retail network. In order to support further growth in the segment, the company plans to deploy 600 technical staff and 150 vans across India.

Chief operating officer Sameer Nagpal said “We believe that the brand must play a vital role in consumer’s lives so that they can make informed choices. Dalmia Cement has over the years developed proprietary know-how of optimising cement recipes that makes it most suitable for roof, column and foundation.”

Managing director and CEO Shri Puneet Dalmia said “Our new brand campaign manifests not just an eminent legacy, but also a commitment to consumer centricity – it conveys a core message that building a home with due care means building it for generations to come.”