Dalmia Refractories Unlisted Shares

DALMIA REFRACTORIES LIMITED (DRL)

DRL is one of the oldest and widely respected refractory companies in India. It enjoys market leadership in High Alumina based products in the cement industry with a market share of more than 50%. Besides being the market leader in India, the refractory company also supplies its products to the MENA (Middle East & North Africa) region.
The company is headquartered at New Delhi and operates three manufacturing plants located at Dalmiapuram (Tamil Nadu), Khambalia (Gujarat) and Katni (Madhya Pradesh). The Sales and Customer Service team is located at strategic locations across India for faster service to our customers.

Over the years, the refractories company has evolved from being just a refractory supplier to a refractory solution provider and has built expertise in areas beyond refractory manufacturing. And that’s why DRL has become a role model for the entire refractories industry in India; every refractory plant of DRL is an example of excellence and product leadership is a key reason for Dalmia Refractories to be amongst the top refractories manufacturers in India year after year.

Financials of Dalmia Refractories Limited Unlisted Shares:

(Fig in Lakhs) Revenue and PAT Analysis

Year	Revenue	EBITDA	OPM	PAT	NPM	Shares	F.V.	EPS
2017	16,125	1,079	7%	365.54	2%	31.52	10	11.60
2018	18,326	84	0%	-637.73	-3%	31.52	10	-20.23
2019	24,602	1,979	8%	394.71	2%	31.52	10	12.52
2020	45,000	4600	10%	1800	4%	31.52	10	57

Debt and Net-Worth Analysis

Year	Long-Term Debt	NW	Debt/NW	RONW
2017	2228	5,806	0.38	6%
2018	2518	21,590	0.12	-3%
2019	13803	19,233	0.72	2%
2020	15000	16900	0.88	10%

FY18-19 Performance Analysis:

a) The company has recently commissioned a state-of-the-art manufacturing facility in Katni as part of its JV with Seven Refractories of Europe. The JV called 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.

b) Revenues stood at Rs. 24,142 Lakhs, increasing by 34%, compared to Rs. 18,076 Lakhs last year.

c) The Company’s profitability improved considerably as it made a profit of Rs. 394.71 lakhs in FY 2018-19 as against a loss of Rs. 637.73 lakhs during the previous year, on a consolidated basis.

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