Morgan Stanley has reiterated its underweight rating on Dalmia Bharat share, assigning a target price of Rs 1,650, after the company’s fourth quarter of FY25 results came in slightly weaker than expectations.
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Net revenues for the quarter stood at Rs 40.9 billion, which was 6% below Morgan Stanley estimates.
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Volumes declined 3% YoY, in contrast to expectations of a 3% YoY growth.
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Realizations increased by just 0.3% QoQ, underperforming the brokerage’s forecast of a 1.2% rise.
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The weakness in pricing was attributed to muted trends in the southern region, affecting overall blended pricing.
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EBITDA per tonne was recorded at Rs 926, slightly below the expected Rs 936.
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Positively, net debt to EBITDA improved to 0.30x from 0.55x in the previous quarter.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making investment decisions.
