Financial Results Overview

The Board of Directors approved the Unaudited Financial Results (Standalone & Consolidated) for the quarter ended June 30, 2026, as recommended by the Audit Committee.

Consolidated Financial Highlights (Rs. Crore):

  • Revenue from operations: ₹3,890 (Q1 FY27) vs ₹3,636 (Q1 FY26)
  • Total income: ₹4,029 (Q1 FY27) vs ₹3,685 (Q1 FY26)
  • Profit before tax from continuing operations: ₹254 (Q1 FY27) vs ₹518 (Q1 FY26)
  • Profit for the period: ₹192 (Q1 FY27) vs ₹394 (Q1 FY26)
  • Profit attributable to owners of the parent: ₹188 (Q1 FY27) vs ₹387 (Q1 FY26)
  • Basic EPS from continuing operations: ₹10.02 (Q1 FY27) vs ₹20.94 (Q1 FY26)

Standalone Financial Highlights (Rs. Crore):

  • Revenue from operations: ₹108 (Q1 FY27) vs ₹75 (Q1 FY26)
  • Profit before tax: ₹25 (Q1 FY27) vs ₹34 (Q1 FY26)
  • Profit after tax: ₹23 (Q1 FY27) vs ₹33 (Q1 FY26)
  • Basic EPS: ₹1.23 (Q1 FY27) vs ₹1.76 (Q1 FY26)

Management Changes

Based on Nomination & Remuneration Committee recommendations, the Board approved:

  • Appointment of Mr. Yatin Malhotra as Chief Financial Officer and Key Managerial Personnel effective August 1, 2026
  • Retirement of Mr. Dharmender Tuteja who superannuates on July 31, 2026

Mr. Yatin Malhotra's Profile:

  • Seasoned finance professional with over 25 years experience in operating and strategic finance
  • Qualified Chartered Accountant, Company Secretary and Cost Accountant
  • Currently CFO of Dalmia Cement (Bharat) Limited, a material subsidiary
  • Previous roles: Executive Vice President and Chief Operating Officer at Reliance Retail (consumer electronics), CFO of ACC Limited and Whirlpool of India Ltd.

Exceptional Items

The financial results include exceptional items of ₹182 crore for the quarter, comprising:

  • ₹177 crore: Acquisition-related costs for the Jaiprakash Associates Limited cement business acquisition
  • ₹5 crore: Additional impact from implementation of new labor codes

Business Acquisition Details

On May 21, 2026, Dalmia Cement (Bharat) Limited entered into a Business Transfer Agreement with Jaiprakash Associates Limited and Adani Infra (India) Limited to acquire JAL's cement business on a slump-sale basis. The acquired business includes:

  • Integrated and grinding units at Rewa (Madhya Pradesh) and Churk, Chunar, Sadwa (Uttar Pradesh)
  • Captive thermal power plants and railway sidings
  • Installed capacity: 5.2 MnTPA cement, 3.3 MnTPA clinker, 99 MW thermal power
  • DCBL obtained control on May 29, 2026
  • Aggregate enterprise value: ₹2,850 crore
  • Purchase price allocation is provisional and in progress

Legal Contingencies

Bawri Group Dispute:

  • Ongoing arbitration proceedings regarding acquisition of 76% stake in Dalmia Cement (North East) Limited
  • Hon'ble Delhi High Court set aside earlier award and directed de-nova arbitration proceedings
  • BG has deposited 5,21,29,013 shares in Escrow account
  • Management believes no adjustments required in financial results

Allied Financial Services Fraud Case:

  • ₹344 crore mutual fund units fraudulently transferred in FY2019
  • DCBL furnished bank guarantee of ₹100 crore and corporate guarantee of ₹300 crore as per Supreme Court order
  • Management confident of no loss, no provision made

West Bengal Incentive Scheme:

  • Eligible for ₹250 crore Industrial Promotion Assistance under WBSSIS, 2013
  • Calcutta High Court ordered release of ₹236 crore with 8% interest, but amount remains unpaid
  • West Bengal enacted Revocation Act in 2025, rescinding incentive schemes retrospectively
  • DCBL has challenged constitutional validity in Calcutta High Court

Auditor's Review

Walker Chandiok & Co LLP issued unmodified review reports for both standalone and consolidated financial results with emphasis on:

  • Pending Bawri Group arbitration proceedings
  • ₹400 crore in guarantees for Allied Financial Services case
  • Reliance on other auditors for 3 subsidiaries representing ₹7.46 crore revenue and ₹8.76 crore net profit
  • Inclusion of 20 subsidiaries and 1 joint venture with unreviewed financial results

Board Meeting Details

  • Meeting held on July 24, 2026
  • Commenced at 12:45 PM, concluded at 1:10 PM