Dalmia Bharat Share Price in Focus as Macquarie Retains Outperform With Rs 2,237 Target

The Dalmia Bharat share price is in focus on 27 July 2026 after Macquarie maintained its outperform rating on the stock with a target price of Rs 2,237 per share, citing capacity additions and an attractive valuation.

Macquarie's note comes even as the company's Q1 margins reflected seasonal weakness, with the brokerage viewing the current setup as offering a favourable risk-reward for the Dalmia Bharat share price over the medium term.

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Dalmia Bharat Share Price: Macquarie's Key Observations

Macquarie's update on the Dalmia Bharat share price highlights capacity additions, regional diversification and cost focus as the company's key strengths, even as Q1 margins reflected typical seasonal weakness, partly offset by resilient cement prices.

Metric	Macquarie Observation
Dalmia Bharat Rating	Outperform (maintained)
Target Price	Rs 2,237 per share
Q1 Margins	Seasonal weakness, offset by resilient prices
Volume Growth Outlook	Capacity-led, expected to outpace peers
Valuation	11.6x FY27 EV/EBITDA, attractive
CMP (27 July 2026)	Rs 1,808.60, down 0.01%

The brokerage expects the company's capacity-led volume growth to outpace peers going forward, with regional diversification and continued cost focus cited as structural strengths supporting the long term investment case.

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Macquarie described the current valuation of 11.6 times FY27 EV/EBITDA as attractive, offering a favourable risk-reward for investors considering the Dalmia Bharat share price at current levels, despite the near term seasonal softness in margins.

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Why Capacity-Led Growth Is Central to the Dalmia Bharat Story

Cement is a capital intensive, capacity driven business, and Macquarie's emphasis on capacity additions as a key strength for the Dalmia Bharat share price reflects the sector's structural dynamics, where companies with the most efficient new capacity typically gain market share over time.

On the day, Dalmia Bharat was quoting at Rs 1,808.60, down Rs 0.15, or 0.01 percent, having touched an intraday high of Rs 1,811.25 and a low of Rs 1,729.85. Trading volumes stood at 10,220 shares, compared to the five day average of 12,483 shares, a decrease of 18.13 percent.

Conclusion

The Dalmia Bharat share price remains one to watch after Macquarie reiterated its outperform rating with a Rs 2,237 target price, citing capacity-led growth potential and an attractive valuation despite near term seasonal margin softness. Investors should consult a SEBI-registered advisor before acting on any brokerage target price.

Frequently Asked Questions FAQs

What is Macquarie's target price for Dalmia Bharat share price?

Ans. Macquarie has maintained an outperform rating on the stock with a target price of Rs 2,237 per share as of 27 July 2026.

Why does Macquarie see Dalmia Bharat's Q1 margins as weak?

Ans. Macquarie noted Q1 margins reflected seasonal weakness, a typical pattern for the cement sector, though this was partly offset by resilient cement prices.

What is Macquarie's volume growth outlook for Dalmia Bharat?

Ans. Macquarie expects capacity-led volume growth at Dalmia Bharat to outpace peers going forward.

Is Dalmia Bharat's valuation considered attractive by Macquarie?

Ans. Yes, Macquarie described the stock's valuation of 11.6 times FY27 EV/EBITDA as attractive, offering a favourable risk-reward.

What was the Dalmia Bharat share price on 27 July 2026?

Ans. Dalmia Bharat was quoting at Rs 1,808.60, down 0.01 percent, having touched an intraday high of Rs 1,811.25 and a low of Rs 1,729.85.

Where can I track live Dalmia Bharat share price updates?

Ans. Live Dalmia Bharat share price updates, charts and financials are available on the Univest platform and app.