Earning Release Q1 FY27

1010/02 July 24, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, Dalal Street, “Exchange Plaza”, Plot No. C-1, Block G Fort Mumbai-400001 Bandra – Kurla Complex, Bandra(East), Scrip Code: 542216 Mumbai – 400 051 Symbol: DALBHARAT Subject: Earnings Release / Investor Presentation – Q1 FY27 Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, Please find enclosed herewith Earnings Release – Q1 FY27, which is proposed to be shared with Analysts / Investors. Kindly take the same on record. Thanking you, Yours sincerely, For Dalmia Bharat Limited Rajeev Kumar Company Secretary Encl: As above Name : New PambanBridge, TN Inaugurated on 6thApril 2025 Dalmia Cement is major contributor of this iconic structure Earnings Release – Q1 FY27 July 24, 2026 Disclaimer Certain statements in this presentation describing the Company's objectives, projections, estimates and expectations may be 'forward looking statements' within the meaning of applicable laws and regulations. Although our expectations are based on reasonable assumptions, these forward-looking statements may be influenced by numerous risks and uncertainties that could cause actual outcomes and results to be materially different from those expressed or implied. The Company takes no responsibility for any consequence of decisionsmadebasedonsuchstatementsandholdsnoobligationtoupdatetheseinthefuture. Trademarks/ logos used in this presentation are the property of their respective owner(s) and have been shown for identification purposes only.Thepastfinancialfigureshavebeenregroupedorrearrangedasperthecurrentgrouping,wherevernecessary. Section Page Economy & Industry 04 Company Overview 08 Expansion Update 14 Q1 FY27 Financial performance 21 Sustainability 31 Governance 35 Name : Water Recycling Plant Location: Dalmia Cement Plant, Kadapa Commissioned in 2008 Economy & Name : Chennai Metro, TN Industry Dalmia Cement is major contributor of this iconic structure Indian Economy GDP Growth (%) GST Collection (Rs Lakh Cr) ✓ India's economic growth remains World Emerging India 6.3 resilient, despite heightened Markets geopolitical uncertainties 7.7% 5.8 5.7 5.8 6.6% 5.6 5.3 5.2 5.4 5.4 ✓ GST collections touched all time 4.4% 3.4% 3.8% high in Q1FY27, reflecting 3.0% continued strength in economic activities FY26 FY27e Q1'25 Q3'25 Q1'26 Q3'26 Q1'27 ✓ Oil supply disruptions and export challenges being mitigated by Merchandise Export (US$ bn) 8 Core Industry Growth (YoY) dynamic policy calibration 130 8 Core Industry ✓ Key tailwinds: Major trade deals, Infra Related Sectors strong forex reserves, healthy 110 10% private consumption 90 ✓ Key monitorable: Inflationary 80 -10% environment, deficit monsoon Q1'25 Q3'25 Q1'26 Q3'26 Q1'27 Apr-25 Jul-25 Oct-25 Jan-26 Apr-26 consequent to El Niño effect Source: IMF, RBI, PIB, Department of Economic affairs; Note: Infrastructure related sectors include Steel, Cement and Electricity; India GDP growth as per RBI 5 Cement Demand Overview India Cement Demand (MnT) Central Government Capex (Rs Lac Cr) State Government Capex (Rs Lac Cr) ~e.7% 50% Actual Spending 16 7.8 500 45% (YTD May'26) 12.2 14 11.0 34 50 %% 9.5 10.5 12 5.5 5.6 5.9 400 30% 7.3 10 25% 5.9 8 3.9 20% 6 300 15% 20% 21% 17% 4 10% 14% 13% 5% 11% 2 0% 0 FY22 FY23 FY24 FY25 FY26 FY27e FY22 FY23 FY24 FY25 FY26RE FY27B FY22 FY23 FY24 FY25 FY26 FY27B Real Estate Inventory (Months) PMAY Run-rate (in Mn Units) Urbanization (%) 36.0% Current Annual Run-rate 35.7% Required Annual Run-rate 35.4% 35.1% 28 6.8 34.8% 23 24 34.4% EV Trucks CY21 CY22 CY23 CY24 CY25 PMAY (G) PMAY (U) CY21 CY22 CY23 CY24 CY25 CY26e Source: Research Reports, Nuvama, Budget documents, PIB, State Capex (excluding UTs) 6 Cost and Price Trends US Imported Pet-coke ($/T, CFR) PP Granules (Rs/Kg) Retail Diesel Prices (Rs/Ltr) 160 105 11% 130 95 99%% 12% 100 100 85 70 75 Jun-24 Dec-24 Jun-25 Dec-25 Jun-26 Jun-24 Dec-24 Jun-25 Dec-25 Jun'26 Jun-24 Dec-24 Jun-25 Dec-25 Jun-26 South Region Prices (Rs/Bag) East Region Prices (Rs/Bag) Pan India Prices (Rs/Bag) 326 354 345 342 314 311 309 330 330 340 340 338 329 324 330 324 329 300 298 324 319 325 320 293 291 EV Trucks Q1'25 Q3'25 Q1'26 Q3'26 Q1'27 Q1'25 Q3'25 Q1'26 Q3'26 Q1'27 Q1'25 Q3'25 Q1'26 Q3'26 Q1'27 Source: Jefferies, Internal estimates, Motilal Oswal (Cement Prices reflect change in GST rate cuts from 28% to 18% w.e.f 22ndSep’25) 7 Company Name : Birsa Munda International Hocky Stadium, Odisha Overview Inaugurated on 5thJanuary 2023 Dalmia Cement is major contributor of this iconic structure Company Overview Serving Every Need with a Diverse Product Range #4th Largest 54.7 MnT Cement Player Installed Cement Capacity1 ₹14,804 Cr ₹3,083 Cr Net Sales EBITDA ₹1,157 Cr ₹34,987 Cr Profit After Tax Market Cap2 449 MW 5,800+ RE Power Capacity1 Employees All data for FY26 unless otherwise mentioned; 1. as on 30thJune 2026; 2. as on 21stJuly 2026 9 A Legacy of Cementing India’s Growth 1939-2009 2009-2014 2015-2019 2020-Present ▪ Commences operations with 250 ▪ Commissioned GF Integrated Unit ▪ Entered East region with the ▪ Commissioned multiple TPD Cement capacity at at Kadapa, Andhra Pradesh acquisition of OCL India Ltd. brownfield expansion and Dalmiapuram, Tamil Nadu in undertook debottlenecking 1939 ▪ KKR acquires 15% stake in DCBL ▪ Acquired Jaypee Bokaro Cement across cement plants for 5 years in 2010 Plant, Jharkhand and Kalyanpur Cement, Bihar ▪ First cement company to formally ▪ Entered highly attractive North announce a Capital Allocation East region with the acquisition ▪ Commissioned GF Integrated Unit Framework & Treasury Policy of Calcom Cement and Adhunik at Belgaum, Karnataka Rewa, MP Cement ▪ Entered West region with the Umrangso, Assam acquisition of Murli Industries ▪ Set up Cement capacity at Rajgangpur, Odisha in 1950 under ▪ Completed corporate a separate entity OCL India Ltd restructuring to become a single listed entity ▪ Entered Central region with the ▪ Commissioned GF Integrated Unit acquisition of 5.2 MnTPA Cement at Ariyalur, Tamil Nadu assets, making progress on pan- India growth strategy 6.5 MnTPA 11.8 MnTPA 26.5 MnTPA 54.7 MnTPA Geographical Footprint Limestone Reserves Region Cement Clinker (# of Years) South 17.0 10.4 48+ East 21.6 8.3 26+ HQ at New Delhi North East 8.0 6.3 100+ Central 5.2 3.3 100+ West 2.9 2.1 74+ Total 54.7 30.4 3.3+ Bn Tonnes of 19 Plants Limestone Reserves1 Integrated Unit Grinding Unit 49,700+ Channel Clinker Unit 23 States served Partners Blending Unit Note: Limestone reserves are for our current operating mines, considering upcoming expansion at Kadapa & Belgaum; 1. reservesfor operating plants only 11 Strategic Priorities Maximizing ROCE Become a Maintain a Healthy High Standards of Build Strong from Existing Plants Pan India player Balance Sheet Corporate Governance Organizational Culture Levers for Return Maximization Higher Capacity Utilization Consolidate Brand Position Product Premiumization Strengthen Bond with Partners Deepen Cost Leadership Reliable Delivery Expansion Update Name : Line III, Dalmia Cement, Rajgangpur, Odisha Commissioned in 2019 Acquisition Completed in Central India Sadwa (Blending Unit) Chunar (Grinding Unit) Cement : 0.6 MnTPA^ Cement : 2.5 MnTPA Status: Pre-operating stage Thermal Power : 37 MW UP Railway Siding : ✓ Status: Operations Commenced Rewa (Integrated Unit) MP Churk (Grinding Unit) Cement : 1.1 MnTPA^ Cement : 1.0 MnTPA Clinker : 3.3 MnTPA Railway Siding : ✓* Thermal Power : 62 MW Status: Pre-operating stage Limestone Reserves : 100+ MnT Railway Siding : ✓ Status: Trial run started in Jul’26 ^Cement will be supplied from Rewa to Sadwa (Rewa capacity already adjusted for the same); *Joint facility with Churk Power Plant (owned by Adani Power Limited) 15 New Central Capacity – A Strategic Fit Firm step in our journey to be a pan India Player Faster Market Entry vs Greenfield Dalmia’s cost leadership practices Project will [Showing first 8,000 characters — download PDF for full document]