Dalmia Bharat Ltd.

Financial

	Dalmia Bharat	ACC	JK Cement
Operational Metrics
Cement Sector
Realization / Tonne - Cement	4747.76 Rs/MT	4837.38 Rs/MT	4757.0 Rs/MT
Manufacturing Capacity - Cement	46.6 MMTPA	38.6 MMTPA	n/a
Capacity Utilization - Cement	60.0 %	75.54 %	73.0 %
EBITDA / Tonne - Cement	765.0 Rs/MT	1032.0 Rs/MT	656.0 Rs/MT
Quarterly Sales Volume - Cement	6.7 Million tonnes	10.7 Million tonnes	4.35 Million tonnes
Financials
5 yr Average ROE	5.6 %	11.36 %	14.98 %
5yr average Equity Multiplier	1.71	1.45	2.76
5yr Average Asset Turnover Ratio	0.49	0.87	0.71
5yr Avg Net Profit Margin	6.88 %	9.28 %	7.81 %
Price to Book	2.06	0.0	7.07
P/E	64.05	15.1	54.22
5yr Avg Cash Conversion Cycle	-122.28 Days	-69.44 Days	-130.65 Days
Inventory Days	27.75 Days	24.89 Days	37.2 Days
Days Receivable	16.31 Days	13.94 Days	14.3 Days
Days Payable	189.58 Days	176.76 Days	183.08 Days
5yr Average Interest Coverage Ratio	4.85	27.61	4.07
5yr Avg ROCE	6.7 %	14.77 %	14.03 %
5yr Avg Operating Profit Margin	20.97 %	15.0 %	18.82 %
5 yr average Debt to Equity	0.31	0.0	0.99
5yr CAGR Net Profit	29.82 %	11.15 %	9.94 %
5yr Average Return on Assets	3.35 %	7.81 %	5.46 %
Shareholdings
Promoter Holding	55.84 %	56.69 %	45.68 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.06 %	2.16 %	-0.14 %
Change in Mutual Fund Holding (3 Yrs)	4.39 %	5.06 %	3.13 %

Business

	Dalmia Bharat	ACC	JK Cement
Product Wise Break-Up	Product Wise Break-Up Portland pozzolamd Cement 55.0 Portland Composite Cement 18.0 Portland Slang Cement 14.0 OPC 13.0 Special Catogory Cement 0 Traded goods 0 Refractories 0 Cement and its related products 0 Ready Mix Concrete 0 Cement 0 White Cement and allied products 0 Grey Cement 0	Product Wise Break-Up Cement 94.22 White Cement and allied products 0 OPC 0 Refractories 0 Cement and its related products 0 Special Catogory Cement 0 Portland Composite Cement 0 Portland pozzolamd Cement 0 Grey Cement 0 Ready Mix Concrete 5.78 Traded goods 0 Portland Slang Cement 0	Product Wise Break-Up Cement 0 White Cement 19.0 OPC 0 Refractories 0 Cement and its related products 0 Special Catogory Cement 0 Portland Composite Cement 0 Portland pozzolamd Cement 0 Grey Cement 81.0 Ready Mix Concrete 0 Traded goods 0 Portland Slang Cement 0
Location Wise Break-Up	Location Wise Break-Up India 100.0 Rest of the World 0	Location Wise Break-Up India 100.0 Rest of the World 0	Location Wise Break-Up India 94.84 Rest of the World 0 Others 5.16
Asset Break-Up	Asset Break-Up India 100.0 Rest of the World 0 Ready Mix Concrete 0 Cement 0	Asset Break-Up Cement 82.21 India 0 Rest of the World 0 Ready Mix Concrete 2.68 Others 15.11	Asset Break-Up Cement 0 India 100.0 Rest of the World 0 Ready Mix Concrete 0
Segment Wise Break-Up	Segment Wise Break-Up Cement 100.0 Refractory Products 0 Distillery 0 Power 0	-	-