Notice Brief

Dalmia Bharat Limited (the Company) has informed the stock exchanges that its wholly-owned subsidiary, Dalmia Cement (Bharat) Limited (DCBL), entered into a Share Subscription and Shareholders’ Agreement (SSSHA) and a Power Consumption Agreement (PCA) on April 29, 2026. This agreement is for the acquisition of a 41% stake (26% on a fully-diluted basis) in Oyster Green Hybrid Five Private Limited, a Special Purpose Vehicle (SPV). The acquisition, valued at approximately ₹17.35 Crores, is intended to source 21.6 MW of Wind and 14 MWp of Solar hybrid power for DCBL’s plant in Kadapa, Andhra Pradesh.

Notice Details

The acquisition is part of Dalmia Bharat’s strategic commitment to achieve RE 100 by 2030 and become carbon negative by 2040. Oyster Green Hybrid Five Private Limited, incorporated on June 5, 2025, is a power generation entity focused on hybrid (wind-solar) projects. The transaction will be completed in cash through the acquisition of 1,73,50,000 equity shares at a face value of ₹10 each. The process is expected to conclude within four months, subject to customary conditions.

Company Business and Updates

Dalmia Bharat Limited is a leading Indian conglomerate primarily engaged in the manufacture and sale of cement through its subsidiary, Dalmia Cement (Bharat) Limited. In 2025, the company made significant strides in expansion, including receiving approval from the Competition Commission of India (CCI) for the 100% acquisition of Jaiprakash Associates Limited (JAL) through a corporate insolvency resolution process. Additionally, the National Company Law Tribunal (NCLT) sanctioned a scheme of arrangement in September 2025 to demerge non-core businesses into Dalmia Bharat Refractories Limited to streamline operations.

Financial Performance and Investor Details

For the third quarter of the 2025-26 financial year (Q3 FY26), Dalmia Bharat reported a revenue of ₹3,568 Crores, representing a 10.88% increase Year-over-Year (YoY) and a 2.44% growth Quarter-over-Quarter (QoQ). Net profit for the same period stood at ₹122 Crores, showing a 100% surge YoY, although it experienced a 48.31% decline on a QoQ basis. The company maintains a strong institutional investor base; as of late 2025 and early 2026, prominent investors include the Life Insurance Corporation of India (LIC) and various mutual funds such as Kotak Midcap Fund and SBI Multicap Fund. Other notable institutional shareholders include Mirae Asset and Nippon Life India.