Dalmia Cement is trading at a P/E of 11 times and its market cap is around Rs 1,980 crore. There is a chance that DBE’s market cap may be less that of Dalmia Cement (Bharat), given the holding company discount. A case in point is the huge gap in the market cap of Binani Cement and its promoter and holding company Binani Industries. For Dalmia Cement (Bharat), in the first nine months of FY10, the cement division accounted for nearly 67% of net segment revenue of Rs 1,629.3 crore, while sugar division contributed 24.8%. Also, post-restructuring on a consolidated basis for the first nine months of the current financial year, a net debt in Dalmia Bharat Enterprises would be Rs 1,061 crore. While for Dalmia Cement (Bharat), it would be Rs 486 crore.
Dalmia Cement also owns and operates sugar mills in Uttar Pradesh state, India. The company has total operating capacity of 300,000 MT per year. The sugar production capacity is met by three operational units with a total collective capacity of 22500 tons of cane crush any given day. High productivity is ensured through employing state of the art technology in the sugar manufacturing process.
Dalmia Cement (Bharat) Limited, together with its subsidiaries, engages in the manufacture and sale of cement in India. It provides Portland and Portland Pozzolana cement, as well as special purpose cement, such as oil well cement, air strip cement, railway sleeper cement, and sulphate resistant cement. The company offers its products under the Superroof and Vajram brand names. Dalmia Cement also engages in the production and sale of sugar and molasses; refractory products; dead burnt magnesite and magnesia-carbon bricks; and electronic chip capacitors and resistors. In addition, it owns two bagasse-based co-generation power plants at Jawaharpur and Nigohi; operates a wind farm; and provides travel agency services. The company was founded in 1935 and is headquartered in New Delhi, India.

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