DALBHARAT

Capacity & Growth Plans Dalmia Bharat has been expanding cement capacity (from ~44.6 MTPA to ~49.5 MTPA) and is targeting further expansion to increase market presence pan-India. Key Growth Drivers Infrastructure demand tailwinds. Strategic capacity build-out in key regions (e.g., Karnataka, Maharashtra). Risk Factors Cement price cycles and regional pricing pressures. Balance sheet and valuation concerns despite capacity expansion.