Strong Q1 earnings boost Dalmia Bharat

Dalmia Bharat was up 2.08% to Rs 1,514 at 11:24 IST on BSE after consolidated net profit jumped 76% to Rs 92 crore on 10% growth in total income from operations to Rs 1777 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 17 August 2016.

Meanwhile, the S&P BSE Sensex was up 142.99 points or 0.51% at 28,148.36.

On BSE, so far 7,929 shares were traded in the counter as against average daily volume of 13,687 shares in the past one quarter. The stock hit a high of Rs 1,531 and a low of Rs 1,501 so far during the day. The stock had hit a record high of Rs 1,532 yesterday, 17 August 2016. The stock had hit a 52-week low of Rs 600 on 24 August 2015. The stock had outperformed the market over the past one month till 17 August 2016, advancing 20.35% compared with 0.61% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 62.15% as against Sensex's 8.66% rise.

The large-cap company has equity capital of Rs 17.76 crore. Face value per share is Rs 2.

The company's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 28% to Rs 508 crore in Q1 June 2016 over Q1 June 2015. EBITDA margin improved significantly to 29% in Q1 June 2016 from 25% in Q1 June 2015.

With regard to future business outlook, Dalmia Bharat said it expects cement demand to gain momentum supported by good monsoon, implementation of 7th pay commission recommendations and focused thrust by government on infrastructure development & housing. Dalmia Bharat said it is well positioned to participate in the expected increase in cement demand with its existing and recently commissioned capacities. The company is confident of maintaining its market leadership through constant innovations.

Dalmia Bharat is the flagship company of the Dalmia Bharat Group. It is a pioneering and a leading player in the cement manufacturing space.

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