Dalmia Bharat Q4 Review - Capital Allocation Policy Deferred: ICICI Securities
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Dalmia Bharat Q4 Review - Capital Allocation Policy Deferred: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Dalmia Bharat Ltd.'s Q4 FY21 Ebitda at Rs 7.8 billion (up 53% year-on-year) was broadly in line with consensus estimates.

Volumes grew 24% YoY implying a two-year compound annual growth rate of 7%.

While realisation increased 4% quarter-on-quarter (8% YoY), total cost/tonne also rose 4.5% QoQ resulting in broadly flat Ebitda/tonne QoQ at Rs 1,209/tonne (up 23% YoY).

Management deferred the announcement of capital allocation policy (which aims to double the company’s capacity) citing Covid-19 resurgence.

While near-term volumes may be impacted due to various government restrictions to combat Covid-19, management expects demand to bounce back as situation normalises.

Click on the attachment to read the full report:

ICICI Securities Dalmia Bharat Q4FY21 Results.pdf


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