Dalmia Cement (Bharat) Limited (DCBL), a wholly owned material subsidiary of Dalmia Bharat Limited, has executed a Business Transfer Agreement with Jaiprakash Associates Limited (JAL)—which was acquired by the Adani Group under the Insolvency & Bankruptcy Code—and Adani Infra (India) Ltd. This agreement, signed on May 21, 2026, involves the acquisition of cement plants located in Rewa (Madhya Pradesh), and Churk, Chunar, and Sadwa (Uttar Pradesh). The transaction, valued at an Enterprise Value of Rs 2,850 Cr, includes 5.2 MnTPA of cement capacity and 3.3 MnTPA of clinker capacity, as well as 99 MW of thermal power capacity and railway sidings. This strategic move is expected to be consummated within two weeks and will increase Dalmia Bharat’s total cement capacity to 54.7 MnTPA.

This acquisition marks a critical advancement in Dalmia Bharat’s goal to become a pan-India player by providing faster access to high-potential Central markets compared to greenfield projects. The company intends to leverage its familiarity with these assets from previous tolling arrangements to facilitate a quicker ramp-up of operations and market integration. By utilizing its proven cost leadership, Dalmia expects these assets to enhance overall returns and augment EBITDA delivery.

Founded in 1939, Dalmia Bharat Limited is a leading cement manufacturer in India with a strong focus on sustainability. Throughout 2025, the company reached significant milestones, including achieving its 49.5 MnTPA production capacity target by the end of FY25, supported by the commissioning of its Rohtas plant in Bihar. The company has also been recognized for its sustainable architecture, such as the inauguration of ‘Shuttle’ in 2025, and continues to prioritize innovation in its operations, including industry-wide digitalization and community-focused initiatives.

Financial performance in 2025 showed varied results, with the company reporting a 37% rise in profit to Rs 439 crore for the quarter ending April 2025, although revenue saw a 5% decline during that same period. While Dalmia Bharat’s management remains focused on strategic growth and capacity expansion, the company continues to attract investor attention, with Mr. Puneet Dalmia leading the organization as MD & CEO, recognized for his vision in steering the company’s growth.