{"id":328084,"date":"2026-10-27T12:04:36","date_gmt":"2026-10-27T06:34:36","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=328084"},"modified":"2026-10-27T12:04:36","modified_gmt":"2026-10-27T06:34:36","slug":"dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/","title":{"rendered":"Dalmia Bharat Shares Hit 52-Week Low After Q2 Results: Should Investors Buy, Sell or Hold? Cost Pressure, Exceptional Charge and Key Levels"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Dalmia Bharat shares fell as much as 7.3% to Rs 1,507.70 on Tuesday, 27 Oct 2026, a fresh 52-week low, after the cement maker reported a September-quarter loss of Rs 205 crore against a profit of Rs 239 crore a year earlier. At 11:59 AM the stock was at Rs 1,533.60, down 5.67% from Rs 1,625.80, on volume of about 3.74 lakh shares against 54,656 on Monday (data provider).<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Dalmia Bharat shares hit a 52-week low because revenue grew only 4.3% to Rs 3,563 crore while EBITDA fell 29.2% to Rs 493 crore, as power, fuel and raw material costs rose. The loss came after an exceptional charge of Rs 339 crore, mainly the impairment of three captive power plants and a discontinued brand. EBITDA per tonne was Rs 698 against Rs 1,013 a year earlier, and management says it can recover toward Rs 1,000 in Q3 if prices hold. This is educational and not a recommendation.<\/p>\n<\/p><\/div>\n<p>Dalmia Bharat shares are now about 32% below their 52-week high of Rs 2,260 (my calculation), and the Dalmia Bharat share price has fallen about 7% over the last two weeks. The key question for Dalmia Bharat shares is how much of the loss is a one-time accounting charge and how much is a real squeeze on cement margins. This article reads the quarter, the cost data, the balance sheet, valuation and the technical levels.<\/p>\n<p>I could not retrieve the names or revised targets of the brokerages that cut estimates, although the headline says they lowered price targets, so I do not quote any. Where sources differ, I flag it. It is educational and not advice.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#Dalmia_Bharat_Q2_Results_Loss_Exceptional_Charge_and_Margin\" title=\"Dalmia Bharat Q2 Results: Loss, Exceptional Charge and Margin\">Dalmia Bharat Q2 Results: Loss, Exceptional Charge and Margin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#Cost_Pressure_Behind_the_Dalmia_Bharat_Share_Price_Fall\" title=\"Cost Pressure Behind the Dalmia Bharat Share Price Fall\">Cost Pressure Behind the Dalmia Bharat Share Price Fall<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#Balance_Sheet_and_Outlook\" title=\"Balance Sheet and Outlook\">Balance Sheet and Outlook<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#Valuation_of_Dalmia_Bharat_Shares\" title=\"Valuation of Dalmia Bharat Shares\">Valuation of Dalmia Bharat Shares<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#Technical_Levels_for_Dalmia_Bharat_Shares\" title=\"Technical Levels for Dalmia Bharat Shares\">Technical Levels for Dalmia Bharat Shares<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#Should_Investors_Buy_Sell_or_Hold_Risks_to_Watch\" title=\"Should Investors Buy, Sell or Hold? Risks to Watch\">Should Investors Buy, Sell or Hold? Risks to Watch<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#Conclusion_Dalmia_Bharat_Shares_Hinge_on_Margin_Recovery\" title=\"Conclusion: Dalmia Bharat Shares Hinge on Margin Recovery\">Conclusion: Dalmia Bharat Shares Hinge on Margin Recovery<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#Why_did_Dalmia_Bharat_shares_hit_a_52-week_low\" title=\"Why did Dalmia Bharat shares hit a 52-week low?\">Why did Dalmia Bharat shares hit a 52-week low?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#What_was_the_Rs_339_crore_exceptional_charge\" title=\"What was the Rs 339 crore exceptional charge?\">What was the Rs 339 crore exceptional charge?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#Should_I_buy_sell_or_hold_Dalmia_Bharat_shares\" title=\"Should I buy, sell or hold Dalmia Bharat shares?\">Should I buy, sell or hold Dalmia Bharat shares?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#What_happened_to_EBITDA_per_tonne\" title=\"What happened to EBITDA per tonne?\">What happened to EBITDA per tonne?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#Is_Dalmia_Bharats_debt_a_concern\" title=\"Is Dalmia Bharat&#8217;s debt a concern?\">Is Dalmia Bharat&#8217;s debt a concern?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#What_are_the_key_technical_levels_for_Dalmia_Bharat_shares\" title=\"What are the key technical levels for Dalmia Bharat shares?\">What are the key technical levels for Dalmia Bharat shares?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#What_is_the_outlook_for_the_next_quarter\" title=\"What is the outlook for the next quarter?\">What is the outlook for the next quarter?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell-or-hold-cost-pressure-exceptional-charge-and-key-levels\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Dalmia_Bharat_Q2_Results_Loss_Exceptional_Charge_and_Margin\"><\/span><strong>Dalmia Bharat Q2 Results: Loss, Exceptional Charge and Margin<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Dalmia Bharat shares: Q2 FY27<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Sep 2026<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Sep 2025<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Change<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue from operations<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 3,563 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 3,417 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 4.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 493 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 696 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 29.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">13.84%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">20.37%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down about 6.5 percentage points<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA per tonne<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 698<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,013<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 31.1% (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net result<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Loss of Rs 205 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Profit of Rs 239 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Swing to loss<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Loss per share<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 11.0<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Earnings of Rs 12.6<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Negative<\/td>\n<\/tr>\n<\/table>\n<p>The Dalmia Bharat Q2 results were hit by exceptional items of Rs 339 crore, made up of an impairment of Rs 282 crore, mainly on three captive power plants as the company shifts to lower-cost renewable power and on a discontinued brand, and Rs 57 crore for an employee separation scheme. The one-time charge is larger than the Rs 205 crore loss, which suggests the quarter would have been profitable before tax effects, but I did not retrieve an adjusted profit figure. Dalmia Bharat shares fell because the operating profit also dropped by almost a third.<\/p>\n<p>For the Dalmia Bharat Q2 results, the data provider shows September 2025 revenue of Rs 3,483 crore, while the company-basis figure is Rs 3,417 crore, so growth is 4.3% on the company basis and about 2.3% on the data provider base (my calculation). For Dalmia Bharat shares, H1 FY27 shows a loss of Rs 13 crore against a profit of Rs 634 crore a year earlier.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Track Dalmia Bharat shares and cement stocks on Univest<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cost_Pressure_Behind_the_Dalmia_Bharat_Share_Price_Fall\"><\/span><strong>Cost Pressure Behind the Dalmia Bharat Share Price Fall<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Dalmia Bharat shares: cost item (per tonne)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q2 FY27<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Change<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Raw materials<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 876<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 10% year on year, up 6% from June<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Power and fuel<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,224<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 20% year on year, up 17% from June<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Blended fuel cost<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1.66 per million kcal<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1.47 in June and Rs 1.38 a year ago<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net sales realisation<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 5,042<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 1% year on year, down 1% from June<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Other expenses<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 677 crore in total<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 24% year on year<\/td>\n<\/tr>\n<\/table>\n<p>The EBITDA bridge explains the margin for Dalmia Bharat shares: volume added Rs 20 crore and realisation added Rs 49 crore against a year ago, while cost increases took away Rs 272 crore. Management pointed to inflation in key raw materials, and the report says imported petcoke prices rose 20% and diesel 37% through September. A weak East and Northeast also left fixed costs under-absorbed by about Rs 100 to Rs 120 per tonne, according to the CFO on the earnings call.<\/p>\n<p>The Dalmia Bharat share price also reflects volume of 7.1 million tonnes, up 3% year on year but down 7% from June, and incentives fell to Rs 25 crore from Rs 64 crore. Brokerages cited demand concerns and volume risks for Dalmia Bharat shares, which fits a quarter where volume fell sequentially.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to set price alerts on Dalmia Bharat shares and cement stocks.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Balance_Sheet_and_Outlook\"><\/span><strong>Balance Sheet and Outlook<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Dalmia Bharat shares: item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Detail<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gross debt<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 9,582 crore, against Rs 6,621 crore a year ago<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net debt<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 5,722 crore, against Rs 1,602 crore a year ago<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net debt to EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">2.0 times, against 0.6 times; the rise is mainly from the Central India acquisition<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">FY27 capex guidance<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 3,200 crore to Rs 3,400 crore, unchanged (inferred range)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Q3 outlook<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Management expects a sequential improvement and EBITDA per tonne above Rs 1,000 if current prices hold; the CFO&#8217;s remark was not confirmed as guidance<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Q3 fuel cost<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Expected to rise a further Rs 75 to Rs 80 per tonne<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Central India<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Utilisation of 35% to 40% by end of FY27, near break-even by Q4 FY27 and Dalmia-standard EBITDA by end of FY28<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Capacity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 67 million tonnes targeted by FY28; utilisation has stayed near 60% to 65% for five years<\/td>\n<\/tr>\n<\/table>\n<p>Net debt behind Dalmia Bharat shares has risen by about Rs 4,120 crore in a year (my calculation) because of the Central India acquisition, which is why the borrowing level crossed 2 times EBITDA. The CFO said the company does not intend to go above 2.5 times. For Dalmia Bharat shares, a price rise of about Rs 15 a bag from the Q2 average could add Rs 20 to Rs 30 per tonne, so recovery in Q3 depends on prices holding while fuel costs rise.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Valuation_of_Dalmia_Bharat_Shares\"><\/span><strong>Valuation of Dalmia Bharat Shares<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Dalmia Bharat shares: measure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Reading (data provider)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Comment<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to earnings (trailing)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">32.06<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Industry level is 29.58; this was before the Q2 loss<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to earnings after the loss (my calculation)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 58<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Uses trailing EPS of about Rs 26.2 after the Rs 11.0 loss<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to book<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1.70<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Book value Rs 958.52 per share<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Return on equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">6.34%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Before the Q2 loss<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Market cap<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 30,551 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Data provider<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Dividend yield<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">0.56%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Small<\/td>\n<\/tr>\n<\/table>\n<p>The data provider&#8217;s ratios were calculated before the Q2 loss, so the trailing multiple of Dalmia Bharat shares will rise as the loss feeds in. At the current price Dalmia Bharat shares trade near 1.6 times book value (my calculation), but earnings are under pressure. The valuation of Dalmia Bharat shares is therefore a bet that EBITDA per tonne recovers toward Rs 1,000 and that Central India reaches break-even.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Technical_Levels_for_Dalmia_Bharat_Shares\"><\/span><strong>Technical Levels for Dalmia Bharat Shares<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Dalmia Bharat shares: indicator<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Reading<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Meaning<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price at 11:59 AM<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,533.60<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 5.67% from Rs 1,625.80<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Day low<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,507.70<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">A new 52-week low; the earlier low in the data was Rs 1,574.30<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">14-day RSI<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">34.88<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Weak, close to oversold<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">20-day EMA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,623.94<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price is about 5.6% below it (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">SuperTrend (10, 3)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy; lower band Rs 1,500.99, upper band Rs 1,733.97<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price is only about 2.2% above the lower band (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">52-week high<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,260<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">The current price is about 32% below it (my calculation)<\/td>\n<\/tr>\n<\/table>\n<p>For Dalmia Bharat shares, a fall below the SuperTrend lower band at Rs 1,500.99 would turn the signal negative, and the day&#8217;s low of Rs 1,507.70 sits just above it. On the upside, Dalmia Bharat shares need to recover the 20-day average of Rs 1,623.94, which is also near Monday&#8217;s close, to repair the short-term trend. These are trend readings and not targets or recommendations.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Should_Investors_Buy_Sell_or_Hold_Risks_to_Watch\"><\/span><strong>Should Investors Buy, Sell or Hold? Risks to Watch<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><strong>Fuel costs.<\/strong> Petcoke above USD 180 a tonne and crude above USD 100 a barrel can keep power and fuel costs rising in Q3.<\/li>\n<li><strong>Pricing.<\/strong> The recovery toward Rs 1,000 per tonne needs the price rise of about Rs 15 a bag to stick.<\/li>\n<li><strong>Central India.<\/strong> Break-even by Q4 FY27 depends on utilisation reaching 35% to 40%.<\/li>\n<li><strong>Borrowing.<\/strong> Net debt at 2.0 times EBITDA leaves less room if margins stay weak.<\/li>\n<li><strong>Demand.<\/strong> Volume fell 7% from June, and a weak East and Northeast raised fixed costs per tonne.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_Dalmia_Bharat_Shares_Hinge_on_Margin_Recovery\"><\/span><strong>Conclusion: Dalmia Bharat Shares Hinge on Margin Recovery<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Dalmia Bharat shares hit a 52-week low because a one-time charge and a real fall in EBITDA arrived in the same quarter. Management expects Q3 to improve for Dalmia Bharat shares and has kept its capex plan, while costs, borrowing and Central India still need to be watched. Dalmia Bharat shares may stay volatile near Rs 1,500 until EBITDA per tonne shows a clear recovery. Verify the filings and decide according to your own risk profile.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_Dalmia_Bharat_shares_hit_a_52-week_low\"><\/span><strong>Why did Dalmia Bharat shares hit a 52-week low?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The company reported a Q2 FY27 loss of Rs 205 crore after an exceptional charge of Rs 339 crore, and EBITDA fell 29.2% to Rs 493 crore as costs rose. The stock fell as much as about 7.3% to Rs 1,507.70 on 27 Oct 2026. It traded at Rs 1,533.60 at 11:59 AM, so check the live quote.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_was_the_Rs_339_crore_exceptional_charge\"><\/span><strong>What was the Rs 339 crore exceptional charge?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It included an impairment loss of Rs 282 crore, mainly on three captive power plants as the company shifts to lower-cost renewable power, and a discontinued brand. A further Rs 57 crore was for an employee separation scheme at select units. These items are one-time in nature, but the operating profit also fell.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Should_I_buy_sell_or_hold_Dalmia_Bharat_shares\"><\/span><strong>Should I buy, sell or hold Dalmia Bharat shares?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> That depends on your time horizon and risk profile, and this article is not a recommendation. The positives are expected recovery in Q3 and an unchanged capex plan, while the risks are fuel costs, rising net debt and weak volume. Check the company&#8217;s filings and your own risk limits.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_happened_to_EBITDA_per_tonne\"><\/span><strong>What happened to EBITDA per tonne?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> EBITDA per tonne was Rs 698 on a reported basis against Rs 1,013 a year ago, and Rs 746 excluding Central India. Costs rose about Rs 260 per tonne, and Central India diluted the figure by about Rs 50. Management targets above Rs 1,000 in Q3 if prices hold.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Dalmia_Bharats_debt_a_concern\"><\/span><strong>Is Dalmia Bharat&#8217;s debt a concern?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Net debt rose to Rs 5,722 crore from Rs 1,602 crore a year ago, and net debt to EBITDA is 2.0 times against 0.6 times, mainly due to the Central India acquisition. The CFO said the company does not intend to exceed 2.5 times. Falling EBITDA makes this ratio more important.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_key_technical_levels_for_Dalmia_Bharat_shares\"><\/span><strong>What are the key technical levels for Dalmia Bharat shares?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Daily readings show an RSI of 34.88, a 20-day EMA of Rs 1,623.94 and a SuperTrend buy signal with a lower band of Rs 1,500.99 and an upper band of Rs 1,733.97. The day&#8217;s low is Rs 1,507.70 and the 52-week high is Rs 2,260. These are trend readings and not targets.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_outlook_for_the_next_quarter\"><\/span><strong>What is the outlook for the next quarter?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Management expects a sequential improvement in Q3 FY27, helped by a price rise of about Rs 15 a bag, but fuel costs may rise a further Rs 75 to Rs 80 per tonne. Central India is expected to reach near break-even by Q4 FY27. These are management expectations and not guaranteed outcomes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Why did Dalmia Bharat shares hit a 52-week low?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The company reported a Q2 FY27 loss of Rs 205 crore after an exceptional charge of Rs 339 crore, and EBITDA fell 29.2% to Rs 493 crore as costs rose. The stock fell as much as about 7.3% to Rs 1,507.70 on 27 Oct 2026. It traded at Rs 1,533.60 at 11:59 AM, so check the live quote.\"}},{\"@type\":\"Question\",\"name\":\"What was the Rs 339 crore exceptional charge?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It included an impairment loss of Rs 282 crore, mainly on three captive power plants as the company shifts to lower-cost renewable power, and a discontinued brand. A further Rs 57 crore was for an employee separation scheme at select units. These items are one-time in nature, but the operating profit also fell.\"}},{\"@type\":\"Question\",\"name\":\"Should I buy, sell or hold Dalmia Bharat shares?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"That depends on your time horizon and risk profile, and this article is not a recommendation. The positives are expected recovery in Q3 and an unchanged capex plan, while the risks are fuel costs, rising net debt and weak volume. Check the company's filings and your own risk limits.\"}},{\"@type\":\"Question\",\"name\":\"What happened to EBITDA per tonne?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"EBITDA per tonne was Rs 698 on a reported basis against Rs 1,013 a year ago, and Rs 746 excluding Central India. Costs rose about Rs 260 per tonne, and Central India diluted the figure by about Rs 50. Management targets above Rs 1,000 in Q3 if prices hold.\"}},{\"@type\":\"Question\",\"name\":\"Is Dalmia Bharat's debt a concern?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Net debt rose to Rs 5,722 crore from Rs 1,602 crore a year ago, and net debt to EBITDA is 2.0 times against 0.6 times, mainly due to the Central India acquisition. The CFO said the company does not intend to exceed 2.5 times. Falling EBITDA makes this ratio more important.\"}},{\"@type\":\"Question\",\"name\":\"What are the key technical levels for Dalmia Bharat shares?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Daily readings show an RSI of 34.88, a 20-day EMA of Rs 1,623.94 and a SuperTrend buy signal with a lower band of Rs 1,500.99 and an upper band of Rs 1,733.97. The day's low is Rs 1,507.70 and the 52-week high is Rs 2,260. These are trend readings and not targets.\"}},{\"@type\":\"Question\",\"name\":\"What is the outlook for the next quarter?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Management expects a sequential improvement in Q3 FY27, helped by a price rise of about Rs 15 a bag, but fuel costs may rise a further Rs 75 to Rs 80 per tonne. Central India is expected to reach near break-even by Q4 FY27. These are management expectations and not guaranteed outcomes.\"}},{\"@type\":\"Question\",\"name\":\"Is this article investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dalmia Bharat shares fell 7.4% to a 52-week low on 27 Oct 2026 after a Rs 205 crore Q2 loss. See the costs, the Rs 339 crore charge, valuation and key levels.<\/p>\n","protected":false},"author":29,"featured_media":328082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[5403,1191,16542,16535,16536,16538,16534,16533,16532,16541],"class_list":["post-328084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cement-sector","tag-cement-stocks","tag-cement-stocks-outlook","tag-dalmia-bharat-52-week-low","tag-dalmia-bharat-buy-sell-or-hold","tag-dalmia-bharat-exceptional-charge","tag-dalmia-bharat-q2-results","tag-dalmia-bharat-share-price","tag-dalmia-bharat-shares","tag-dalmia-bharat-target-price"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["328082"],"rank_math_title":["Dalmia Bharat Shares Hit 52-Week Low After Q2: Buy or Sell?"],"rank_math_description":["Dalmia Bharat shares fell 7.4% to a 52-week low on 27 Oct 2026 after a Rs 205 crore Q2 loss. See the costs, the Rs 339 crore charge, valuation and key levels."],"rank_math_focus_keyword":["Dalmia Bharat shares"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/dalmia-bharat-shares-hit-52-week-low-after-q2-results-should-investors-buy-sell.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/328084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=328084"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/328084\/revisions"}],"predecessor-version":[{"id":328086,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/328084\/revisions\/328086"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/328082"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=328084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=328084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=328084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}