The company declared interim dividend of Rs 2 (100 percent) per equity share of Rs 2 each for the financial year 2019-2020.
Dalmia Bharat shares rose nearly 3 percent intraday on February 10 as research house Citi maintained buy after the company declared its Q3FY20 result.
The company's Q3 net profit was down 16 percent at Rs 26 crore against Rs 31 crore, while revenue rose 11.7 percent at Rs 2,418 crore against Rs 2,164 crore, YoY.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 20 percent at Rs 457 crore versus Rs 380 crore.
The company declared interim dividend of Rs 2 (100 percent) per equity share of Rs 2 each for the financial year 2019-2020.
Macquarie | Rating: Neutral | Target: Rs 885 per share
The company posted strong volume growth led by double-digit growth in East & North-East regions. However, the Murli deal is likely to be closed in the current quarter, said Macquarie.
Company's net debt now stands at Rs 3,000 crore versus Rs 3,400 crore in September 2019 and company expects demand growth of 5-6 percent for FY21.
Kotak Institutional Equities | Rating: Add | Target: Rs 1,050 per share
The EBITDA is in-line as higher volumes offset lower realisations. The company continue to gain market share ahead of expansion in East.
The company should debut in the West in CY21. The leverage remained under control despite growth capex.
Citi | Rating: Buy | Target: Cut to Rs 1,275 from Rs 1,300 per share
Citi expect an upward price trajectory in FY21 on better demand and should benefit if South price hikes sustain.
At USD 80 EV/t, the concerns around cash use seem priced. The capacity should rise to 37 mt from 26 mt by FY22, it added.
At 10:42 hrs Dalmia Bharat was quoting at Rs 906.10, up Rs 16.20, or 1.82 percent on the BSE.Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year.
