Dalmia Bharat Limited vs The India Cements Limited
An objective side-by-side of DALBHARAT and INDIACEM, both in Cement - South India: valuation, profitability, growth, balance sheet, ownership and share-price performance. Where one number is clearly better on its own terms (lower P/E, higher ROE), it is shaded. That is a description, not a recommendation.
Prices as of 2026-09-21 close
Latest results: DALBHARAT Jun 2026 · INDIACEM Jun 2026
At a glance
- Dalmia Bharat Limited is the larger company by market value, about 2.1 times the size of The India Cements Limited.
- On trailing earnings, Dalmia Bharat Limited trades at the lower P/E (45.5 against 172.5).
- Dalmia Bharat Limited earns the higher return on equity (4.0% against 0.9%).
- Over three years The India Cements Limited has grown profits faster (31% a year against -1%).
- Over the past year the share prices returned -26.9% (DALBHARAT) and -13.4% (INDIACEM).
| Metric | Dalmia Bharat DALBHARAT |
India Cements INDIACEM |
|---|---|---|
| Size and price | ||
| Market cap | ₹33,123 Cr | ₹16,037 Cr |
| Share price | ₹1,764 | ₹345.00 |
| Valuation | ||
| P/E | 45.50 | 172.46 |
| P/B | 1.84 | 1.58 |
| EV/EBITDA | 13.49 | 36.98 |
| PEG | — | 5.56 |
| Dividend yield | 0.5% | 0.0% |
| Profitability | ||
| ROE | 4.0% | 0.9% |
| ROCE | 8.0% | 2.0% |
| Operating margin | 25.6% | 10.5% |
| Sales (TTM) | ₹11,721 Cr | ₹4,480 Cr |
| Net profit (TTM) | ₹728 Cr | ₹93 Cr |
| Growth | ||
| Latest quarter sales YoY | +5086.7% | -0.5% |
| Latest quarter profit YoY | +481.8% | +120.2% |
| Sales CAGR 3Y | +3.0% | -7.0% |
| Profit CAGR 3Y | -1.0% | +31.0% |
| Sales CAGR 5Y | +8.0% | +0.0% |
| Profit CAGR 5Y | -2.0% | -18.0% |
| Financial strength | ||
| Debt/Equity | 0.41 | 0.13 |
| Interest cover | 3.61 | 0.98 |
| Ownership | ||
| Promoter holding | 55.8% | 75.0% |
| Promoter change (4 qtrs) | +0.00 pp | -6.49 pp |
| Price performance | ||
| Return 1M | -6.99% | -6.92% |
| Return 3M | +3.11% | -8.69% |
| Return 1Y | -26.94% | -13.39% |
| Return YTD | -17.20% | -20.74% |
| Technical condition | ||
| Technical score | 32 | 38 |
| RS rating (1-99) | 38.00 | 33.00 |
| % vs 200-DMA | -7.18% | -13.72% |
| RSI (14) | 48.60 | 37.82 |
| % from 52-week high | -29.32% | -28.98% |
