For more information on the company, please visit our website

www.dalmiacement.com or call us on 011-23465204/201/200 or

write to us at investorquery@dalmiacement.com

BSE Code: 500097 NSE Code: DALMIACEM Business Highlights

Market Capitalization: Rs. 2,038 crore
(as of March 31, 2010) • With a Cement capacity of 9 MnTPA, at 100% PPC the
Company is the third largest player in Southern region.
Shares Outstanding: 8.09 crore • New cement plant of 2.5 MnT at Ariyalur, TN
Face Value per Equity Share: Rs. 2 commissioned in FY10.
• The Company has excellent limestone reserves.
9M’10 Gross Sales Rs. 1,771 crore • Low lead distance of 340 kms.
9M’10 EBITDA Rs. 413 crore • Also produces Special Cement catering to niche
9M’10 Earnings per Share Rs. 16.68 segment.

• 72 MW Thermal Power Plant in TN catering to captive

consumption, surplus is sold to third parties.

• The Company can crush upto 3 lacs metric tonnes of

cane per annum, across three plants in U.P.
• Capable of processing Raw Sugar.
• Combined Cogeneration power facility of 79 MW
across 3 sugar plants of which two third is exportable.
• PPA Regulations amended favorably for U.P. sugar
mills – Tariff rates have been raised by over 25%
• Facility for ethanol at Jawaharpur (U.P.) sugar plant,
with distillation capacity of 80 KLPD (kilo liters per
Company Profile day).

Founded in 1935 by Sh. Jaidayal Dalmia; the cement

division of the Company was established in 1939 and Key Financial Summary:
enjoys a heritage of 70 years. It diversified into sugar
segment in 1994, though it continues with its some 4 year
other businesses including refractory for cement (In Rs. Crore) FY05 FY06 FY07 FY08 FY09 CAGR
industry. DCBL is headquartered in New Delhi with Net Sales 450 570 986 1,481 1,753 40%
Total Income 464 585 1,007 1,508 1,779 40%
Cement plants in South India and Integrated Sugar
EBITDA Opr. 73 99 270 496 526 64%
plants in the state of Uttar Pradesh. Interest 23 23 54 113 143
PBDT 50 76 216 383 383 66%
While the Company continues to build on its identified Taxes 5 24 67 87 101
values and culture, its corporate social responsibility PAT 31 85 229 347 159 51%
initiatives focus on four core areas of basic education,
healthcare, livelihood and civic infrastructure Margins
improvement. EBITDA Margin (%) 16% 17% 27% 33% 30%
PAT Margin (%) 7% 13% 20% 21% 9%

Our footprint Sales Volume

('000T)
Cement 1,403 1,577 2,713 3,265 3,383 25%
Sugar 75 99 93 141 162 21%

Sugar – 3 Units, UP (In Rs. Crore) 31-Mar-08 31-Mar-09 31-Dec-09

Sugar (22,500 TCD)
Cogeneration (79 MW) Net Worth 1,147 1,268 1,403
Distillery (80 KLPD) Borrowed Funds 1,583 2,338 2,573
Deferred Tax 163 229 261

Gross Block* 2,384 3,316 3,539

Net Block* 1,826 2,667 2,795
Investments 431 447 471
Cement : 14 MnT
OCL # 5.3 MT, Orissa Cash & Cash Equivalents 270 275 479
Head Office Kadapa 2.5 MT, AP Other Net Current Assets 367 446 492
Plant Locations DPM 4.0 MT, TN *Includes CWIP
Ariyalur 2.5 MT, TN

# OCL is an associate Company

Investment Highlights Indian Cement Industry
• Group Restructuring: Demand for cement in India was strong with CAGR of
9.3% during the period FY05 to FY09. It is expected to
grow in double digits from here on, as is evident from FY10
over 10% growth.

Demand momentum is driven by:

• Rural/mass housing to benefit from rising
incomes: According to working group of XI Five Year
Plan, the housing shortage was estimated at 47.4mn in
2007 and is expected to be 74mn by 2012.

• Urban Real Estate recovery to boost cement

demand: Recovery in real estate is sector is likely to
sustain 10-12% growth over the long term

• Significant Thrust on Infrastructure creation:

Infrastructure spend to rise from 6% to 9% of GDP by
FY12 and to 10.25%of GDP by FY17
Shareholders of DCBL will receive additional shares
in DBEL in the ratio of 1:1, latter will be listed on stock
exchanges in next 6-8 months subject to regulatory
approvals.
• OCL investment provides regional
diversification: Enhanced stake of 45.4% in OCL, a
listed Co. with capacity of 5.3 MnT and presence in
eastern region which has been exhibiting demand
growth in high teens.
• Poised to outperform industry growth: DCBL
and OCL have outperformed industry growth by 1.5-
2x in the last 5 years in key markets of Southern and
Eastern India. The companies are likely to continue to
outperform on account of recently expanded  
capacities.
Cement Capacity Pipeline
• Accelerating Growth Opening Estimated Additions Closing
Capacity FY10 FY10 FY11 FY12 FY 12
Net Sales (Rs. Cr)
(Mn T)
600
North 78 12 7 11 106
24%
500 33%
28% East 30 10 11 4 54
400 West 32 1 3 4 27
300 South 78 23 21 5 124
200
All India 218 46 42 24 330
100
DCBL estimates addition of 112 MnTPA in All India capacity
0
Q1 Q2 Q3
by FY-12.
FY07 FY08 FY09 FY10
YTD (Apr‐Dec) Net sales (Rs. Cr) Indian Sugar Industry
1,500  29 % 1,629 
• India is the second largest producer but largest
19 % consumer of sugar in the world.
1,000 
• At present more than 5 million hectare of land is
allocated for sugarcane cultivation with a productivity of
69 tones on each hectare.
500  • Indian sugar industry has moved from surplus inventory
to substantial deficit in SY09.
9 Mths FY08 9 Mths FY09 9 Mths FY10
• Sugar production reached an all time low of 14.7 MnT
450 
YTD (Apr‐Dec) EBITDA  (Rs. Cr) during SY09 due to sharp fall in the sugarcane acreage.
Estimates for SY10 production is 17 MnT.
400  413  • However, sugar consumption continued to grow at a
18%
steady pace from 20 MnT in 2007 to 23 MnT in 2009
350  9%
and possibly 25.5 MnT by 2012. It depicted a CAGR of
300  6% during SY05-09.
• The commodity saw a phenomenal average growth of
250  67% in spot prices for FY10 (Rs 31,583/T) as compared
200 
to previous year (Rs.18958/T); touching an all time high
of Rs 44,000/T in Jan’10.
9 Mths FY08 9 Mths FY09 9 Mths FY10