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 2026-11-06 close
Latest results: DALBHARAT Sep 2026 · INDIACEM Sep 2026
At a glance
- Dalmia Bharat Limited is the larger company by market value, about 1.7 times the size of The India Cements Limited.
- On trailing earnings, Dalmia Bharat Limited trades at the lower P/E (54.2 against 132.0).
- Dalmia Bharat Limited earns the higher return on equity (2.8% against 1.2%).
- Over three years The India Cements Limited has grown profits faster (31% a year against -1%).
- Over the past year the share prices returned -29.9% (DALBHARAT) and -13.2% (INDIACEM).
| Metric | Dalmia Bharat DALBHARAT |
India Cements INDIACEM |
|---|---|---|
| Size and price | ||
| Market cap | ₹27,602 Cr | ₹16,235 Cr |
| Share price | ₹1,470.30 | ₹349.25 |
| Valuation | ||
| P/E | 54.23 | 131.99 |
| P/B | 1.55 | 1.59 |
| EV/EBITDA | 13.52 | 33.56 |
| PEG | — | 4.26 |
| Dividend yield | 0.6% | 0.0% |
| Profitability | ||
| ROE | 2.8% | 1.2% |
| ROCE | 8.0% | 2.0% |
| Operating margin | 18.4% | 11.8% |
| Sales (TTM) | ₹15,204 Cr | ₹4,505 Cr |
| Net profit (TTM) | ₹509 Cr | ₹123 Cr |
| Growth | ||
| Latest quarter sales YoY | +4.3% | +2.2% |
| Latest quarter profit YoY | -185.8% | +340.6% |
| 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 | 0.58 | 0.16 |
| Interest cover | 3.61 | 0.98 |
| Ownership | ||
| Promoter holding | 55.8% | 75.0% |
| Promoter change (4 qtrs) | +0.00 pp | -0.60 pp |
| Price performance | ||
| Return 1M | -10.35% | +15.25% |
| Return 3M | -19.33% | -11.14% |
| Return 1Y | -29.88% | -13.20% |
| Return YTD | -31.00% | -19.76% |
| Technical condition | ||
| Technical score | 20 | 56 |
| RS rating (1-99) | 15.00 | 35.00 |
| % vs 200-DMA | -19.46% | -8.31% |
| RSI (14) | 41.65 | 64.73 |
| % from 52-week high | -34.94% | -28.11% |
