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×

dalmia bharat refractories Limited

81.00
-4.71 %
Scrip Name
Dalmia Refract
ISIN No.
INE0EB001012
PAN No.
AABCS5453M
Face Value
10
No. of Outstanding Shares
44,200,107
Market Capitalization
358.02 Crore
Book value
0
P/BV
0
EPS
0
PE ratio
0
Available on
ROFR Required
No

About DALMIA BHARAT REFRACTORIES LIMITED Shares

The old name of DALMIA BHARAT REFRACTORIES LIMITED was formerly DALMIA REFRACTORIES LIMITED. Pursuant to the Scheme of Amalgamation of Dalmia Refractories Limited (DRL) and GSB Refractories India Private Limited (GSB India) with Dalmia Bharat Refractories Limited (DBRL) and their respective shareholders and creditors ('Scheme'), as approved by the NCLT Chennai vide its Order dated 3rd February 2022, Equity Shareholders of Dalmia Refractories Limited (DRL)  received the equity shares of DALMIA BHARAT REFRACTORIES LIMITED (DBRL), in the ratio of 768 equity shares of Rs. 10/- each in the DALMIA BHARAT REFRACTORIES LIMITED (DBRL) for every 100 equity shares of Rs. 10/- each held in DALMIA REFRACTORIES LIMITED (DRL) ('Fair Share Exchange Ratio'). The record date of the same was 11th March 2022.

Earlier it was known as Shri Nataraj Ceramics and Chemical Industries Limited. It is a part of Dalmia Bharat Group, one of India’s oldest conglomerates. Dalmia Refractories Limited is a pioneer in Alumino-Silicate refractories with a market share of over 50% in Alumina bricks used in the manufacturing of cement.

Today, the company is a preferred partner for the big Indian Cement Manufacturers. The product portfolio of the company includes Refractory Bricks for Cement Plant, Fire Clay Bricks, High Alumina Bricks, Special Quality Bricks, Conventional Castables, Low Cement Castables, Special Castables, and Ramming Masses & Mortars.

The Joint Venture of the company, Dalmia Seven offers advanced monolithic refractory solutions to customers in India. Also, through the recent acquisition of GSB Group of Germany, Dalmia Refractories is now the leading supplier of lances and snorkels to steelmakers in Europe. The company also executes supply and installation projects for various green- and brown-field projects for customers across the globe.

Dalmia Refractories Limited is headquartered in New Delhi and currently operates five manufacturing plants including the one in Germany. Dalmia Refractories Limited’s products are exported to places such as South America, Brazil, Argentina, Africa, the Middle East, Canada, Spain, etc.

The equity shares of Dalmia Refractories Limited were listed on the National Stock Exchange of India Limited. However, the trading in the equity shares of Dalmia Refractories Limited was suspended from National Stock Exchange. The company’s equity shares are still listed on the Metropolitan Stock Exchange of India Limited (‘MSEI’) and The Calcutta Stock Exchange Limited (‘CSE’).

INCORPORATION DETAILS

CIN

L24297TN1973PLC006372

Registration Date

21 June 1973

Category/Sub-category of the Company

Public Company Limited by Shares

Address of the Registered office and contact details

Dalmiapuram, P.O. Kallakudi, Tiruchirapalli,

Tamil Nadu-621651.

Tel No: 011-23457100

E-mail:[email protected]

Name, Address, and Contact Details of

Registrar and Transfer Agent, if any

KFin Technologies Private Limited

Karvy Selenium Tower B, Plot 31-32,

Financial District, Nanakramguda,

Serilingampally, Hyderabad – 500032

Tel No: 040-67162222;

E-mail: [email protected]

 

PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to the total turnover of the Company

Manufacture & sale of Refractories, Castables

and Mortars

2391

92.51%

 BOARD OF DIRECTORS

Mr. Sameer Nagpal (Managing Director)

Mr. C. Nagaratnam

Mr. M.K. Doogar

Mr. Deepak Thombre

Ms. Leena Rawal

PARTICULAR OF SUBSIDIARY AND JOINT VENTURE

Name of the Company

Joint Venture/Subsidiary

% of shares held

Dalmia Seven Refractories Limited

Joint Venture

51%

Dalmia GSB Refractories GmbH

Subsidiary

100%

GSB Refractories India Private Limited

Subsidiary

100%

 DALMIA REFRACTORIES LIMITED SHARE DETAILS

 

     

 

INDUSTRY OUTLOOK

 According to World Refractory Association (WRA), the Refractories market size was over US$ 30 billion and is projected to witness a growth of more than 4% annually between 2019 and 2025. Strong product demand from automotive, aerospace, glass, electrical, and cement industries is expected to drive the refractories market globally over the next five years. Refractories have significant applications in the manufacturing processes for steel, iron, cement, non-ferrous metals, glass, and other industries. Among the aforesaid end-use industries, steel & iron dominates, accounting for more than 65% of the overall refractory consumption followed by cement which accounts for nearly 15 % of consumption.

In India, the Refractories market stands at approximately ₹ 9,000 Cr and has witnessed steady growth due to the growing production of cement, steel, and non-ferrous materials. According to Indian Refractory Manufacturers Association, the Refractories industry has grown by a rate of around 6% in the last financial year. The Refractory Industry has high growth potential for India due to the increasing demand for cement, steel, glass, copper, and aluminum. With the country moving away from plastics, this will open up the demand for glass and metals which will further drive refractory consumption. In the next 5 years, the Refractory consumption is bound to increase multifold.

The steel industry has seen a number of major investments and developments in the recent past. International steel giants like Arcelor Mittal and Nippon Steel view India as their key market offering the refractory industry in India a boost and a big opportunity.

In the view of the COVID 19 pandemic, The Indian refractory market - a key raw material for the production of cement, steel, and glass has seen a decline in demand because of the nationwide lockdown. However, The refractory demand has slowly recovered as these industries normalized. With support from government stimulus, recovery in the construction sector will be led by infrastructure investment. Demand for consumption-driven manufacturing goods increased in the second half of FY 2021.

KEY FINANCIALS OF DALMIA REFRACTORIES LIMITED (In Rs. Lakhs) 

PARTICULARS

2021

2020

2019

2018

Revenue from Operations

39,468.12

45,010.42

24,142.04

18,076.10

EBITDA

3,394.70

4,632.05

1,518.96

-165.91

EBITDA margins

8.60%

10.29%

6.29%

-0.92%

Finance Cost

929.01

841.99

314.00

91.23

Depreciation

1,592.22

1,778.05

1,077.76

904.79

Other Income

262.83

337.84

460.31

250.46

Profit/Loss before Tax

1,136.30

2,349.85

587.51

-911.47

Total Tax

471.09

736.3

192.79

-273.74

Profit After Tax (PAT) 

665.21

1,613.55

394.72

-637.73

PAT margins

1.67%

3.56%

1.60%

-3.48%

EPS

21.77

56.48

17.91

-19.03

 BALANCE SHEET OF DALMIA REFRACTORIES LIMITED (In Rs. Lakhs)

PARTICULARS

31st March 2021

31st March 2020

ASSETS

   

NON CURRENT ASSETS

   

Tangible assets

14,420

14,884.14

Intangible assets

6,387.12

6,852.48

Financial assets

11,195.75

3,521.31

Other non-current assets

13.62

2.97

Tax assets

271.81

232.47

TOTAL NON CURRENT ASSETS

32,288.3

25,493.37

CURRENT ASSETS

   

Inventories

8,463.96

8,420.96

Financial assets

676.17

911.95

Trade receivables

9,151.98

7,163.78

Cash and cash equivalent

3,650.51

1,110.48

Other current assets

1,289.23

748.56

Tax assets

102.31

106.98

Assets held for disposal

1.51

0

TOTAL CURRENT ASSETS

23,335.67

18,462.71

TOTAL ASSETS

55,623.97

43,956.08

EQUITY AND LIABILITIES

   

EQUITY

   

Equity Share Capital

315.21

315.21

Other Equity

24,346.08

16,269.03

Non-Controlling Interest

585.55

115.88

TOTAL EQUITY

25,246.84

16,700.12

LIABILITIES

   

NON CURRENT LIABILITIES

   

Borrowings

9,493.45

9,779.26

Other financial liabilities

145.71

165.09

Deferred Tax liabilities

1,736.97

1,793.37

Provisions

401.54

373.82

TOTAL NON CURRENT LIABILITIES

11,777.67

12,111.54

CURRENT LIABILITIES

   

Borrowings

3,923.74

4,809.66

Trade payables

11,125.06

7,055.57

Other financial liabilities

1,454.32

1,148.38

Tax liabilities

633.39

411.91

Other current liabilities

1,440.23

1,613.06

Provisions

22.72

105.84

TOTAL CURRENT LIABILITIES

18,599.46

15,144.42

TOTAL LIABILITIES

30,377.13

27,255.96

TOTAL EQUITY AND LIABILITIES

55,623.97

43,956.08

 DIVIDEND HISTORY

Particulars

2020

2019

2018

Dividend (final + interim) (In Rs.)

1.50

1

0.50

Retained Earnings (Consolidated) (In Rs. Lakhs)

12,112.25

10,427.09

9,881.57

 PERFORMANCE OF THE COMPANY

Revenue from Operations of the company has decreased by 12.31% from Rs. 45,010.42 lakhs in FY 2020 to Rs. 39,468.12 lakhs in FY 2021. The decrease was mainly due to a nationwide lockdown for the first three months of FY 2021.

EBITDA of the company decreased by 26.71% from Rs. 4,632.05 lakhs in FY 2020 to Rs. 3,394.70 lakhs in FY 2021. EBITDA margins declined from 10.29% in FY 2020 to 8.60% in FY 2021.

Profit After Tax of the company decreased significantly by 58.77% from Rs. 1,613.55 lakhs in FY 2020 to Rs. 665.21 lakhs in FY 2021. PAT margins reduced from 3.56% in FY 2020 to 1.67% in FY 2021.

The Current Ratio of the company as of 31st March 2021 was 1.25. The company does not have any liquidity issues.

Total Debt on the company as of 31st March 2021 stood at Rs. 13,417.19 lakhs. And Debt to Equity ratio of the company as of 31st March 2021 was 0.53.

Dalmia Refractories Limited has consistently and progressively given dividends to its shareholders. For FY 2020, a dividend of Rs. 1.50 per equity share was given.

The book value per equity share of the company as of 31st March 2021 was Rs. 800.

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