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Dalmia Bharat goes central

Further consolidation of the Indian cement sector looked closer this week with the news that Dalmia Bharat’s cement subsidiary has agreed to buy the remaining cement plants from Jaiprakash Associates. The US$685m deal covers cement and power plants in Madhya Pradesh, Uttar Pradesh and Chhattisgarh. It includes clinker production capacity of 6.7Mt/yr, cement capacity of 9.4Mt/yr and 280MW of captive power capacity.

Chart 1: Map of Dalmia Bharat’s cement plants in November 2022 with region of proposed new plants highlighted in orange. Source: Adapted from Dalmia Bharat investor presentation.

The acquisition gives Dalmia Bharat the opportunity to draw level with Shree Cement in terms of cement production capacity. If the deal completes, then both cement companies will hold a capacity of around 46Mt/yr. This puts them behind UltraTech Cement and Adani Group nationally. In terms of the cost, the proposed acquisition works out at around US$73/t of cement capacity, although this doesn’t take into account the additional captive power generation capacity. This compares to US$119/t for UltraTech Cement’s purchase of Jaiprakash Associates plants in 2017 and US$97/t for Adani Group’s purchase of Holcim’s Indian-based business in September 2022.

Dalmia Bharat’s rationale for its move this week was that it wants to grow in the Central Region of the country and work towards a capacity target of 75Mt/yr by the 2027 financial year and at least 110Mt/yr by the 2031 one. It backed this up in an investors’ presentation by saying that cement consumption was around 170kg/capita locally and that the region represented about 15% of national demand at 54Mt/yr. This roughly checks out with regional integrated/clinker production capacity distribution analysis that Global Cement Weekly carried out in June 2022. Only the East region was lower, but this didn’t take into account grinding plants or new projects.

Completion of the agreement is planned by December 2023 and is subject to the usual regulatory approvals. However, readers may recall the difficulties UltraTech Cement had in the mid-2010s when it attempted to buy two plants from the subsidiary of Jaypee Group. Problems stemming from an amendment to the Mines and Minerals (Development and Regulation) (MMDR) Act caused the original proposal to be rejected by the Bombay High Court in early 2016. UltraTech Cement bounced back though with a deal to buy far more plants instead. This deal completed successfully in mid-2017.

Jaypee Group’s debts have also caused problems along the way. Indeed, this is the reason why it has finally decided to leave the cement business altogether. In early December 2022 it reported its latest default on interest payments towards some of its loans. Overall its outstanding debt was US$3.39bn. Due in part to this, there have been plenty of stories in the local press over the last decade on whoever was reputedly buying the Jaypee Group’s cements assets. In October 2022, for example, Adani Group was reportedly in advanced talks to buy Jaypee Group’s remaining cement business until it denied it publicly. One deal that did reach fruition was Dalmia Bharat’s purchase of Bokaro Jaypee Cement back in 2014 from a joint-venture majority controlled by Jaypee Group. That agreement gave it full control of the 2.1Mt/yr Bokaro grinding plant in Jharkhand. Looking at the current proposed acquisition, one commentator from HDFC Securities in the local business press noted that detail on the transaction is lacking, such as what will happen to existing limestone reserves . Another pointed out that the deal was probably 30 – 40% below the replacement cost because the plants were old, lack of interest from potential buyers and due to the “likely need for additional CAPEX to run operations.”

If the Dalmia Bharat - Jaiprakash Associates deal completes then it marks the end of an era for the Indian cement industry as one of the big players bows out of the sector. It shows once more that, despite the mounting fuel and raw material costs in 2022, companies are still seeing big opportunities. In its December 2022 report, the ratings agency ICRA found that cement sales volumes grew by 11% year-on-year to 187Mt in the first half of the 2023 financial year. The acquisition might also, hopefully, put an end to the endless speculation about who Jaypee Group might be selling its cement plants to! Although, of course, the question then becomes who else might be considering divesting cement assets.

• Dalmia Bharat
• Dalmia Cement
• Acquisition
• Jaiprakash Associates
• Madhya Pradesh
• Uttar Pradesh
• Chhattisgarh
• Shree Cement

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Dalmia Bharat delivers an all-round performance

Save to read list Published by Sol Klappholz , Assistant Editor World Cement , Tuesday, 25 April 2023 15:49

Dalmia Bharat Limited, a leading cement manufacturing company, reported its consolidated financial results for the quarter ending March 31, 2023.

• Volume increased 15.9% YOY to 25.7 million t
• Revenue increased 20.0% YOY to INR135.4 billion
• EBITDA stood at INR23.16 billion
• EBITDA/t stood at INR900/t
• Installed capacity increased by 7.5% to 38.6 billion t as on 31 st March 20232
• One of Lowest Carbon footprint in global cement world at 463 kg of CO 2 /t of cement*
• Renewable Energy capacity increased by 100 MW to 166 MW (>2.5 times from FY22 end)
• Renewable Power consumption increased to 20.9% from 10.1% in FY22 (Q4 FY23 at 25.2%)
• Low Carbon (Blended) Cement % is highest ever at 84.1%
• Sale of premium product in trade volumes increased by 19.9% to 3.4 million t
• Net Debt/EBITDA stood at 0.29x

Commenting on the quarter gone by, Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat Limited, said, “I am tremendously proud of our people who have delivered an all-round financial performance alongside meeting the capacity expansion targets of the company. The industry leading volume and revenue growth of 15.9% and 20.0% YOY respectively, is a testament of clarity of our vision, strength of our brand and efficient business operations, all of which is well navigated by our strong leadership team”. He further added, “With deep rooted conviction in India’s growth prospects, I am excited that armed with a combination of newly added cement capacity, a well-capitalised balance sheet and a visionary leadership, Dalmia Bharat has a large headroom to continually deliver industry leading performance and participate in India’s growth story.”

Mr. Mahendra Singhi, Managing Director and CEO – Dalmia Cement (Bharat) Limited said, “I am pleased with our performance during the entire year of FY23. Our persistent efforts, on enhancing sustainability of our operations & rationalisation of our operating costs, have enabled us to mitigate the adverse impact of inflation and deliver stable earnings performance.” He also mentioned that, “With robust demand outlook, steady cement prices and the peak of commodity price inflation behind us, we are expecting profitability to gradually improve from here on.”

The company has, on 22 nd April 2023, commenced commercial production at its second cement line at Bokaro, Jharkhand known as Bokaro Cement Manufacturing Works (JCW2), with capacity of 2.5 million t. With this addition, the total cement capacity of the company has been enhanced to 41.1 million t.

In line with its strategy to exit non-core business/investment, Dalmia Cement (Bharat) Limited, a subsidiary of the Company, entered into a binding agreement to sell its entire investment of 18 723 743 equity shares of INR10 each (42.36% of share capital) of Dalmia Bharat Refractories Limited at a consideration of INR8 billion to M/s Sarvapriya Healthcare Solutions Private Limited, a promoter group company.

Continuing its commitment to become Carbon Negative by 2040, the company plans to further add renewable energy capacities and reach 324 MW by end of FY24.

The Board has recommended a final dividend of Rs 5 per share (250%) of face value of INR2 per share for FY 2022-23 subject to approval of shareholders in ensuing AGM.

• Our three units Dalmiapuram, Kadapa and Belgaum Mines won first prize amongst the various categories of overall performance, Mineral Beneficiation, Afforestation, Environmental Monitoring and Sustainable Development during Mines Environment and Mineral Conservation week-2022-23
• CII “Climate Action Programme, CAP 2.0” Award - To DCBL for 2 nd time under Category 2.0 oriented for Energy, Mining and Heavy Manufacturing
• First cement company to bag “The DL Shah Quality Gold Award” - DCBL for promoting Green Blended Cement and Green Binders
• “Energy conservation Award” from CII Eastern Region – Rajgangpur Unit
• “CII 3R Award” - Circular Economy through Innovative 3R Approaches – Belgaum Unit
• “Warehouse & Logistics Excellence Awards 2022” by Quantic India – DCBL
• CSR Excellence Award for Sustainable Livelihoods by Odisha Development Leadership Summit to Rajgangpur Unit
• Rajgangpur Unit won ‘STARS OF THE INDUSTRY AWARDS’ for Excellence and Leadership for the "Best Use of Mobile App Application of “Apna Pariwar
• Project execution safety award at 14 th CIDC Vishwakarma Award (under the auspices of Niti Aayog) – Murli Cement Works & Jharkhand Cement Works
• “Platinum Award” at the Green Crest (Safety) Award 2022 – Bengal Cement Works
• “Gold Category Award” at the Kalinga Safety Award 2022 – Kapilas Unit
• Fire & Safety category Award at IFSEC Excellence Award – Kadapa Unit
• 1 st Prize by Mine Safety Association to the Kadapa Unit

*subject to assurance at the end of the year

Read the article online at: https://www.worldcement.com/indian-subcontinent/25042023/dalmia-bharat-delivers-an-all-round-performance-fy23-results/

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• Super Investors
•  Account
• Consolidated Standalone
• Share Holding
• Balance Sheet
• Corp. Action

Dalmia Bharat share price

NSE:  DALBHARAT BSE:  542216 SECTOR:  Cement & Construction Materials   115k    232    30

Price Summary

₹  1746.95

₹  1730.55

₹  2430.7

₹  1651.4

Ownership Stable

Valuation expensive, efficiency poor, financials very stable, company essentials.

₹ 32482.31 Cr.

₹ 32474.31 Cr.

₹  420.93

₹ 8 Cr.

₹ 0 Cr.

₹  10.61

Add Your Ratio

Your Added Ratios

These are the brands of Dalmia Bharat Ltd.

Index Presence

The company is present in 22 Indices.

NIFTYMIDCAP

NIFTYMIDCAP150

NIFTYMIDSMALL400

NIFTYLGEMID250

NY500MUL50:25:25

NIFTYTOTALMCAP

NIFTYHOUSING

S&P LARGEMIDCAP

S&P MIDSMLCAP

• Price Chart
• Volume Chart

Price Chart 1d 1w 1m 3m 6m 1Yr 3Yr 5Yr

Volume chart 1d 1w 1m 3m 6m 1yr 3yr 5yr, pe chart 1w 1m 3m 6m 1yr 3yr 5yr, pb chart 1w 1m 3m 6m 1yr 3yr 5yr, peer comparison,  group companies.

Track the companies of Group.

Sales Growth

Profit growth, debt/equity, price to cash flow, interest cover ratio, cfo/pat (5 yr. avg.).

Share Holding Pattern

Promoter pledging %.

 Strengths

• The company has shown a good profit growth of 64.8514119923423 % for the Past 3 years.
• Company is virtually debt free.
• Company has a healthy Interest coverage ratio of 31.75 .
• The company has an efficient Cash Conversion Cycle of 33.6923 days.
• Company has a healthy liquidity position with current ratio of 3.7778 .
• The company has a high promoter holding of 55.84 %.

 Limitations

• The company has shown a poor revenue growth of -4.23046030675585 % for the Past 3 years.
• Company has a poor ROE of 2.08876043794991 % over the past 3 years.
• Company has a poor ROCE of 2.26192862787585 % over the past 3 years
• Tax rate is low at 8.9431 .
• The company is trading at a high PE of 163.23 .
• The company is trading at a high EV/EBITDA of 146.5582 .

Quarterly Result (All Figures in Cr.)

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

Balance Sheet (All Figures are in Crores.)

Cash Flows (All Figures are in Crores.)

Corporate Actions Dividend Bonus Rights Split

Investors details promoter investors.

Annual Reports

• Annual Report 2023 13 Jun 2023
• Annual Report 2022 4 Jul 2024
• Annual Report 2021 4 Jul 2024
• Annual Report 2020 2 Oct 2020
• Annual Report 2019 9 Jan 2020

Ratings & Research Reports

• Credit Report by:ICRA 26 May 2020
• Credit Report by:CRISIL 2 Oct 2020
• Research Motilal Oswal 3 Jul 2020
• Research HDFC Securities 1 Mar 2021
• Research BP Wealth 7 Mar 2024
• Research BOB Capital Market 28 Mar 2023
• Research BOB Capital Market 10 Feb 2024

Company Presentations

• Concall Q4FY24 2 May 2024
• Concall Q4FY23 15 May 2023
• Concall Q4FY22 17 May 2022
• Concall Q3FY24 2 Feb 2024
• Concall Q3FY23 11 Apr 2023
• Concall Q2FY24 21 Oct 2023
• Presentation Q4FY24 25 Apr 2024
• Presentation Q4FY22 21 Jun 2022
• Presentation Q3FY24 25 Jan 2024
• Presentation Q3FY24 12 Feb 2024
• Presentation Q3FY23 11 Apr 2023
• Presentation Q3FY23 1 Mar 2023
• Presentation Q2FY24 17 Oct 2023
• Presentation Q2FY23 6 Jan 2023
• Presentation Q1FY24 24 Jul 2023
• Presentation Q1FY23 29 Sep 2022
• Presentation Q1FY22 29 Jul 2021

Company News

Dalmia bharat stock price analysis and quick research report. is dalmia bharat an attractive stock to invest in.

Stock investing requires careful analysis of financial data to determine a company's true net worth. This is generally done by examining the company's profit and loss account, balance sheet and cash flow statement, which can be time-consuming and cumbersome.

Examining a company's financial ratios is an easier way to determine its performance, which can help to make sense of the overwhelming amount of information in its financial statements. 

Dalmia Bharat stock price today is  Rs 1745 . Here are a few indispensable ratios that should be a part of every investor’s research process, or, in simpler words, how to analyse Dalmia Bharat . 

PE ratio : Price to Earnings ratio, which indicates how much an investor is willing to pay for a share for every rupee of earnings. A general rule of thumb is that shares trading at a low P/E are undervalued (it depends on other factors too). Dalmia Bharat has a PE ratio of 164.458183326108  which is high and comparatively overvalued .

Share Price : - The current share price of Dalmia Bharat is Rs 1745 . One can use valuation calculators of ticker to know if Dalmia Bharat share price is undervalued or overvalued.

Return on Assets (ROA) : - Return on Assets measures how effectively a company can earn a return on its investment in assets. In other words, ROA shows how efficiently a company can convert the money used to purchase assets into net income or profits. Dalmia Bharat has ROA of 1.413 % which is a bad sign for future performance. (higher values are always desirable)

Current ratio : - The current ratio measures a company's ability to pay its short-term liabilities with its short-term assets. A higher current ratio is desirable so that the company could be stable to unexpected bumps in business and economy. Dalmia Bharat has a Current ratio of 3.7778 .

Return on equity : - ROE measures the ability of a firm to generate profits from its shareholders' investments in the company. In other words, the return on equity ratio shows how much profit each rupee of common stockholders’ equity generates. Dalmia Bharat has a ROE of 1.4327 % .(higher is better)

Debt to equity ratio : - It is a good metric to check out the capital structure along with its performance. Dalmia Bharat has a Debt to Equity ratio of 0 which means that the company has low proportion of debt in its capital.

Sales growth : - Dalmia Bharat has reported revenue growth of - 1.5152 % which is poor in relation to its growth and performance. 

Operating Margin : - This will tell you about the operational efficiency of the company. The operating margin of Dalmia Bharat for the current financial year is 12.3076923076923 % .

Dividend Yield : - It tells us how much dividend we will receive in relation to the price of the stock. The current year dividend for Dalmia Bharat is Rs 9  and the yield is 0.5157   % .

Earnings Per Share : - It tells us how much profit is allocated to to each outstanding share of a common stock. The latest EPS of Dalmia Bharat is Rs 10.6106 . The higher the EPS, the better it is for investors. 

One can find all the Financial Ratios of Dalmia Bharat in Ticker for free. Also, one can get the intrinsic value of Dalmia Bharat by using Valuation Calculators, which are available with a Finology ONE subscription. 

Brief about Dalmia Bharat

Dalmia bharat ltd. financials: check share price, balance sheet, annual report and quarterly results for company analysis.

Welcome to the Dalmia Bharat Ltd. stock analysis page, dedicated to providing comprehensive insights for long-term stock investors seeking valuable information about this company's performance. Our website offers a range of features to evaluate various aspects of Dalmia Bharat Ltd.'s stock, including share price analysis, balance sheet evaluation, annual reports, dividends, quarterly results, stock price trends, price charts, news updates, conference calls, transcripts, investor presentations, promoters, and shareholders to provide investors with a deeper understanding of Dalmia Bharat Ltd.'s performance.

Dalmia Bharat Ltd. Share Price Analysis:

The share price of Dalmia Bharat Ltd. is a key indicator of the company's performance, as it represents the collective sentiment of market participants. Long-term stock investors can identify the market sentiment and potential opportunities by analysing historical share price trends. Our pre-built screening tools allow investors to analyse Dalmia Bharat Ltd.'s stock price trend and set up alerts based on specific price ranges. Investors can also see historical performance to make well-informed investment decisions based on the vast amount of data available via our platform. By identifying significant trends and patterns in Dalmia Bharat Ltd.'s share price movements, investors can evaluate the company's growth potential and long-term viability.

Dalmia Bharat Ltd. Balance Sheet Evaluation:

Assessing the balance sheet of Dalmia Bharat Ltd. is essential for long-term investors to evaluate the company's financial health and stability. Our website provides pre-built screening tools that enable investors to evaluate the company's assets, liabilities, and overall financial position. By analyzing the balance sheet, investors can assess Dalmia Bharat Ltd.'s ability to manage debt and evaluate its long-term viability. Furthermore, our platform offers premium feature tools such as DCF analysis, BVPS analysis, earnings multiple approach, and DuPont analysis to provide a more comprehensive evaluation of the company's financial performance, growth potential, and long-term viability.

Dalmia Bharat Ltd. Annual Reports:

Dalmia Bharat Ltd. publishes annual reports that provide comprehensive information for investors seeking in-depth insights into the company's performance and future prospects. Our website offers downloadable annual reports that include the CEO's message, financial statements, and detailed discussions about key initiatives. Analysing these reports enables investors to evaluate Dalmia Bharat Ltd.'s financial health and growth potential, as well as its long-term viability. The availability of these reports on our platform ensures that investors have access to crucial information to make well-informed investment decisions.

Dalmia Bharat Ltd. Dividend Analysis:

Dividends from Dalmia Bharat Ltd. can help investors assess the company's financial stability and growth prospects. Our pre-built screening tools enable investors to evaluate the company's dividend policies and payouts, which can help them assess the sustainability, profitability, and potential returns of the dividends. This analysis facilitates informed decisions regarding long-term investment strategies and provides a better understanding of Dalmia Bharat Ltd.'s financial stability and growth potential.

Dalmia Bharat Ltd. Quarterly Results Review:

Staying informed about Dalmia Bharat Ltd.'s quarterly results is crucial for long-term stock investors. Our website provides downloadable quarterly results, enabling investors to stay informed about the company's short-term growth, financial health, and prospects. By identifying significant trends and patterns in the results, investors can gain valuable insights into Dalmia Bharat Ltd.'s financial performance and make informed decisions based on the most recent data. These quarterly results, together with our premium feature tools, provide investors with a comprehensive analysis of the company's performance.

Dalmia Bharat Ltd. Stock Price Trends:

Analysing the stock price trends of Dalmia Bharat Ltd. is essential in identifying patterns and market sentiments. Our pre-built screening tools enable investors to track the stock price trend and analyse market trends, enabling them to identify potential buying or selling opportunities. By analysing historical stock price movements, investors can fully evaluate the growth potential of Dalmia Bharat Ltd. and make informed decisions.

Dalmia Bharat Ltd. Price Chart:

Our platform offers price charts that allow investors to understand historical stock price movements and potential market sentiment towards Dalmia Bharat Ltd.'s stock. Investors can use these charts to identify significant short-term and long-term trends, facilitating well-informed investment decisions.

Dalmia Bharat Ltd. News Update:

Staying informed about the latest news regarding Dalmia Bharat Ltd. is crucial for long-term stock investors. Our website offers a comprehensive collection of news articles from various reliable sources. By staying abreast of the latest developments, investors can gain valuable insights into the company's operations, strategic initiatives, and potential market trends. These news updates, combined with our other analysis tools, provide investors with a holistic view of Dalmia Bharat Ltd. and its outlook.

Dalmia Bharat Ltd. Conference Calls:

Dalmia Bharat Ltd. conducts regular conference calls with analysts and investors, providing valuable insights into the company's operations, financial performance, and future plans. Our website provides information regarding upcoming conference calls and grants access to insights from previous calls, allowing investors the valuable opportunity to gain a deeper understanding of Dalmia Bharat Ltd.'s strategies, challenges, and growth prospects. These insights, along with our analytical tools, empower investors to make well-informed investment decisions.

Dalmia Bharat Ltd. Transcripts:

Accessing transcripts of Dalmia Bharat Ltd.'s conference calls and management meetings provides investors with detailed records of important discussions. Our website offers downloadable transcripts that ensure the availability of in-depth analyses of the company's operations, financial performance, market outlook, and strategic initiatives. By reviewing these transcripts, investors gain a comprehensive understanding of Dalmia Bharat Ltd.'s strategies, financial health, and long-term potential. These transcripts, in conjunction with our other tools, equip investors with the necessary information to evaluate Dalmia Bharat Ltd.'s performance.

Dalmia Bharat Ltd. Investor Presentations:

Dalmia Bharat Ltd. provides investor presentations that offer detailed information about the company's financial performance, strategic initiatives, and future plans. Investors can conveniently access these presentations on our website, enriching their knowledge of Dalmia Bharat Ltd.'s operations and growth prospects. Our platform, together with our premium feature tools, including DCF analysis, BVPS analysis, earnings multiple approach, and DuPont analysis, empowers investors to conduct a thorough stock analysis and make well-informed investment decisions.

Dalmia Bharat Ltd. Promoters:

Analyzing the holdings of Dalmia Bharat Ltd.'s promoters is critical for long-term stock investors. Our pre-built screening tools enable investors to evaluate promoter holdings and gain insights into the ownership structure and potential conflicts of interest. Understanding the significance of promoter holdings helps investors assess the strength, growth prospects, and long-term viability of Dalmia Bharat Ltd.

Dalmia Bharat Ltd. Shareholders:

The composition of Dalmia Bharat Ltd.'s shareholder base is a crucial consideration for long-term investors. Our pre-built screening tools enable investors to analyze the shareholder base and understand the ownership structure. This analysis offers insights into potential risks and opportunities associated with the stock. Understanding the shareholder base helps investors assess the stability, growth prospects, and long-term potential of Dalmia Bharat Ltd.

Dalmia Bharat Limited ROCE

Our stock analysis page provides you with valuable insights into Dalmia Bharat Limited's Return on Capital Employed (ROCE) ratio. ROCE is a profitability ratio that measures the return generated on the capital employed in a company's operations. This ratio indicates how efficiently a company utilizes its capital to generate profits.

You can find the ROCE data for Dalmia Bharat Limited in the financials table or ratio section on this page. Analyzing the ROCE can help you assess the company's ability to generate returns for its investors.

Dalmia Bharat Limited EBITDA

On this stock analysis page, we present Dalmia Bharat Limited's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) ratio. EBITDA is a measure of a company's operating performance and profitability. It provides a clearer picture of a company's profitability by excluding non-operating expenses.

By analyzing the EBITDA ratio of Dalmia Bharat Limited, you can understand the company's operating efficiency and profitability. Find the EBITDA data for Dalmia Bharat Limited in the financials table or ratio section on this page.

Dalmia Bharat Limited DPS

At our stock analysis page, you can access information about Dalmia Bharat Limited's Dividends Per Share (DPS). DPS is the portion of a company's profits that is distributed to its shareholders in the form of dividends. This ratio helps investors understand the income they can earn from their investments.

For details about Dalmia Bharat Limited's DPS, refer to the financials table or ratio section on this page. Analyzing the DPS can provide insights into the company's dividend distribution policy and its ability to generate returns for shareholders.

Dalmia Bharat Limited EPS

Our stock analysis page offers data on Dalmia Bharat Limited's Earnings Per Share (EPS). EPS is a measure of a company's profitability and indicates the amount of earnings attributable to each outstanding share of common stock. It is an important metric for investors to assess a company's profitability and growth potential.

To find the EPS data for Dalmia Bharat Limited, navigate to the financials table or ratio section on this page. Analyzing the EPS can provide insights into the company's financial performance and its potential to generate returns for shareholders.

Ratio Delete Confirmation

Dalmia Bharat Ltd

Dalmia Bharat is engaged in the business of Manufacturing and Selling of Cement. The company was started in 1939 and is the 4th largest cement manufacturer by installed capacity in India. [1]

Group Overview Founded in 1939 by Late Shri Jaidayal Dalmia, Dalmia Bharat Group is one of the Fastest Growing and Most Profitable Groups in India. Dalmia Bharat Ltd. is 4th largest cement manufacturing company in India and Dalmia Bharat Sugar Ltd. is one of the fastest growing cane based multi-product companies. [1]

• Market Cap ₹ 32,369 Cr.
• Current Price ₹ 1,726
• High / Low ₹ 2,431 / 1,651
• Stock P/E 35.2
• Book Value ₹ 874
• Dividend Yield 0.52 %
• ROCE 6.71 %
• Face Value ₹ 2.00
• Sales & Margin
• EV / EBITDA
• Price to Book
• Market Cap / Sales
• Company has been maintaining a healthy dividend payout of 19.1%
• The company has delivered a poor sales growth of 9.15% over past five years.
• Company has a low return on equity of 5.65% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Cement Industry: Cement - South India

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Profit & Loss

Balance Sheet

Shareholding Pattern

Numbers in percentages

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards. Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes. Click on the line-items to see the names of individual entities.

Announcements

• Announcement Under Regulation 30- SEBI LODR 1d
• Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8 Aug
• Announcement Under Regulation 30 LODR- Update 1 Aug

Annual reports

• Financial Year 2024 from bse
• Financial Year 2023 from bse
• Financial Year 2022 from bse
• Financial Year 2021 from bse
• Financial Year 2020 from bse
• Financial Year 2019 from bse
• Financial Year 2017 from bse
• Financial Year 2016 from bse
• Financial Year 2015 from bse
• Financial Year 2014 from bse
• Financial Year 2013 from bse
• Financial Year 2012 from bse
• Financial Year 2011 from bse
• Financial Year 2010 from bse

Credit ratings

• Rating update 6 Jun from crisil
• Rating update 20 Mar 2023 from crisil
• Rating update 20 Dec 2022 from crisil
• Rating update 25 Nov 2022 from crisil
• Rating update 10 Mar 2022 from crisil
• Rating update 31 Jan 2022 from crisil
• Jul 2024 Transcript Notes PPT
• May 2024 Transcript Notes PPT
• Apr 2024 Transcript Notes PPT
• Feb 2024 Transcript Notes PPT
• Jan 2024 Transcript Notes PPT
• Oct 2023 Transcript Notes PPT REC
• Oct 2023 Transcript Notes PPT
• Aug 2023 Transcript Notes PPT
• Jul 2023 Transcript Notes PPT
• Jun 2023 Transcript Notes PPT
• May 2023 Transcript Notes PPT
• Mar 2023 Transcript Notes PPT
• Feb 2023 Transcript Notes PPT
• Nov 2022 Transcript Notes PPT
• Aug 2022 Transcript Notes PPT
• Jun 2022 Transcript Notes PPT
• May 2022 Transcript Notes PPT
• Sep 2021 Transcript Notes PPT
• Jul 2021 Transcript Notes PPT
• Apr 2021 Transcript Notes PPT

• SECTOR : CEMENT AND CONSTRUCTION
• INDUSTRY : CEMENT & CEMENT PRODUCTS
• DALMIA BHARAT LTD.

Dalmia Bharat Ltd.

NSE: DALBHARAT | BSE: 542216

1725.70 -19.30 ( -1.11 %)

Near 52W Low of ₹1651.40

104.2K NSE+BSE Volume

NSE 13 Aug, 2024 12:57 PM (IST)

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Operating Revenue TTM

High in industry

Net profit TTM

Net Profit Margin TTM %

Revenue Growth (TTM)

Above industry Median

Net Profit TTM Growth %

Negative Net Profit TTM Growth %

Dalmia Bharat Ltd. Annual Reports

Dalmia Bharat Ltd

Price Chart

Performance

Hasn't fared well - amongst the low performers

Seems to be overvalued vs the market average

Lagging behind the market in financials growth

Profitability

Showing good signs of profitability & efficiency

Entry point

The stock is overpriced but is not in the overbought zone

No red flag found

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Key Metrics

Forecast & Ratings

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Price Upside

Earnings growth, rev. growth, company profile.

Dalmia Bharat is an India-based cement manufacturing company. The Company's segments include Cement, Refractory and Other.

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Price Forecast

All values in ₹

Revenue Forecast

All values in ₹ Thousand cr.

Earnings Per Share Forecast

Balance Sheet

Income Statement

Lower than industry revenue growth.

Over the last 5 years, revenue has grown at a yearly rate of 9.08%, vs industry avg of 9.25%

Decreasing Market Share

Over the last 5 years, market share decreased from 3.82% to 3.8%

Higher than Industry Net Income

Over the last 5 years, net income has grown at a yearly rate of 21.81%, vs industry avg of 14.89%

EPS and DPS in ₹. Other numbers except Payout Ratio in ₹ cr

Company Updates

Annual report

Investor Presentation

Peers & Comparison

Price Comparison

Shareholdings, promoter holdings trend, total promoter holding.

In last 6 months, promoter holding in the company has almost stayed constant

Low Pledged Promoter Holding

Pledged promoter holdings is insignificant

Institutional Holdings Trend

Total retail holding.

In last 3 months, retail holding in the company has almost stayed constant

Decreased Foreign Institutional Holding

In last 3 months, foreign institutional holding of the company has decreased by 1.94%

Shareholding Pattern

Shareholding history, mutual funds holding trend, decreased mutual fund holding.

In last 3 months, mutual fund holding of the company has decreased by 1.22%

Top 5 Mutual Funds holding Dalmia Bharat Ltd

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Insider Trades & Bulk Deals

A smallcase is a basket of stocks/ETFs that represents an idea or theme. Diversify your risk and buy smallcases that have Dalmia Bharat Ltd

Rising Rural Demand

Created by  Windmill Capital

Infra Tracker

Dividend trend, dividend yield.

Current dividend yield is 0.52%. An investment of ₹1,000 in the stock is expected to generate dividend of ₹5.16 every year

Corp. Actions

Announcements

Legal Orders

Upcoming Dividends

No upcoming dividends are available

Past Dividends

Cash dividend.

Ex Date Ex Date Jun 19, 2024

Dividend/Share

Ex Date Ex Date

Jun 19, 2024

Ex Date Ex Date Oct 20, 2023

Oct 20, 2023

Ex Date Ex Date Jun 23, 2023

Jun 23, 2023

Ex Date Ex Date Nov 10, 2022

Nov 10, 2022

Ex Date Ex Date Jun 23, 2022

Jun 23, 2022

Dalmia Bharat opens skill development centre in Ariyalur

Dalmia Bharat Q1 Results Review - Profitability Likely To Be Under Pressure: Nirmal Bang

Dalmia Bharat Q1 Review - Volume Growth Healthy; Soft Pricing To Continue In The Near Term: Motilal Oswal

Jaiprakash going into insolvency was a surprise which we did not anticipate: Puneet Dalmia

Dalmia Bharat consolidated net profit rises 8.46% in the June 2024 quarter

Hot stocks: Brokerage view on Infosys, Dalmia Bharat, Havells and ONGC

Dalmia Bharat reports 1% rise in Q1 net profit to ₹145 crore

Press Releases

Intel reports second-quarter 2024 financial results; announces $10 billion cost reduction plan to increase efficiency and market competitiveness, related documents.

NEWS SUMMARY

• Second-quarter revenue of $12.8 billion, down 1% year over year (YoY).
• Second-quarter GAAP earnings (loss) per share (EPS) attributable to Intel was $(0.38); non-GAAP EPS attributable to Intel was $0.02.
• Forecasting third-quarter 2024 revenue of $12.5 billion to $13.5 billion; expecting third-quarter GAAP EPS attributable to Intel of $(0.24); non-GAAP EPS attributable to Intel of $(0.03).
• Implementing comprehensive reduction in spending, including a more than 15% headcount reduction, to resize and refocus.
• Suspending dividend starting in the fourth quarter of 2024. The company reiterates its long-term commitment to a competitive dividend as cash flows improve to sustainably higher levels.
• Achieved key milestones on Intel 18A with the 1.0 Process Design Kit (PDK) released and key power-on of first client and server products on Intel 18A, Panther Lake and Clearwater Forest.

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intel Corporation today reported second-quarter 2024 financial results.

“Our Q2 financial performance was disappointing, even as we hit key product and process technology milestones. Second-half trends are more challenging than we previously expected, and we are leveraging our new operating model to take decisive actions that will improve operating and capital efficiencies while accelerating our IDM 2.0 transformation,” said Pat Gelsinger, Intel CEO. “These actions, combined with the launch of Intel 18A next year to regain process technology leadership, will strengthen our position in the market, improve our profitability and create shareholder value.”

“Second-quarter results were impacted by gross margin headwinds from the accelerated ramp of our AI PC product, higher than typical charges related to non-core businesses and the impact from unused capacity,” said David Zinsner, Intel CFO. “By implementing our spending reductions, we are taking proactive steps to improve our profits and strengthen our balance sheet. We expect these actions to meaningfully improve liquidity and reduce our debt balance while enabling us to make the right investments to drive long-term value for shareholders.”

Cost-Reduction Plan

As Intel nears the completion of rebuilding a sustainable engine of process technology leadership, it announced a series of initiatives to create a sustainable financial engine that accelerates profitable growth, enables further operational efficiency and agility, and creates capacity for ongoing strategic investment in technology and manufacturing leadership. These initiatives follow the establishment of separate financial reporting for Intel Products and Intel Foundry, which provides a "clean sheet" view of the business and has uncovered significant opportunities to drive meaningful operational and cost efficiencies. The actions include structural and operating realignment across the company, headcount reductions, and operating expense and capital expenditure reductions of more than $10 billion in 2025 compared to previous estimates. As a result of these actions, Intel aims to achieve clear line of sight toward a sustainable business model with the ongoing financial resources and liquidity needed to support the company’s long-term strategy.

The plan will enable the next phase of the company’s multiyear transformation strategy, and is focused on four key priorities:

• Reducing Operating Expenses: The company will streamline its operations and meaningfully cut spending and headcount, reducing non-GAAP R&D and marketing, general and administrative (MG&A) to approximately $20 billion in 2024 and approximately $17.5 billion in 2025, with further reductions expected in 2026. Intel expects to reduce headcount by greater than 15% with the majority completed by the end of 2024.
• Reducing Capital Expenditures: With the end of its historic five-nodes-in-four-years journey firmly in sight, Intel is now shifting its focus toward capital efficiency and investment levels aligned to market requirements. This will reduce gross capital expenditures* in 2024 by more than 20% from prior projections, bringing gross capital expenditures in 2024 to between $25 billion and $27 billion. Intel expects net capital spending* in 2024 of between $11 billion and $13 billion. In 2025, the company is targeting gross capital expenditures between $20 billion and $23 billion and net capital spending between $12 billion and $14 billion.
• Reducing Cost of Sales: The company expects to generate $1 billion in savings in non-variable cost of sales in 2025. Product mix will continue to be a headwind next year, contributing to modest YoY improvements to 2025's gross margin.
• Maintaining Core Investments to Execute Strategy: The company continues to advance its long-term innovation and path to leadership across process technology and products, and the increased efficiency from its actions is expected to further support its execution. In addition, Intel continues to sustain investments to build a resilient and sustainable semiconductor supply chain in the United States and around the world.

Intel is taking the added step of suspending the dividend starting in the fourth quarter, recognizing the importance of prioritizing liquidity to support the investments needed to execute its strategy. The company reiterates its long-term commitment to a competitive dividend as cash flows improve to sustainably higher levels.

Q2 2024 Financial Highlights

In the second quarter, the company generated $2.3 billion in cash from operations and paid dividends of $0.5 billion.

Business Unit Summary

Intel previously announced the implementation of an internal foundry operating model, which took effect in the first quarter of 2024 and created a foundry relationship between its Intel Products business (collectively CCG, DCAI and NEX) and its Intel Foundry business (including Foundry Technology Development, Foundry Manufacturing and Supply Chain, and Foundry Services (formerly IFS)). The foundry operating model is a key component of the company's strategy and is designed to reshape operational dynamics and drive greater transparency, accountability, and focus on costs and efficiency. The company also previously announced its intent to operate Altera ® as a standalone business beginning in the first quarter of 2024. Altera was previously included in DCAI's segment results. As a result of these changes, the company modified its segment reporting in the first quarter of 2024 to align to this new operating model. All prior-period segment data has been retrospectively adjusted to reflect the way the company internally receives information and manages and monitors its operating segment performance starting in fiscal year 2024. There are no changes to Intel’s consolidated financial statements for any prior periods.

Intel Products Highlights

• CCG: Intel continues to define and drive the AI PC category, shipping more than 15 million AI PCs since December 2023, far more than all of Intel's competitors combined, and on track to ship more than 40 million AI PCs by year-end. Lunar Lake, the company’s next-generation AI CPU, achieved production release in July 2024, ahead of schedule, with shipments starting in the third quarter. Lunar Lake will power over 80 new Copilot+ PCs across more than 20 OEMs.
• DCAI: More than 130 million Intel ® Xeon ® processors power data centers around the world today, and at Computex Intel introduced its next-generation Intel ® Xeon ® 6 processor with Efficient-cores (E-cores), code-named Sierra Forest, marking the company’s first Intel 3 server product architected for high-density, scale-out workloads. Intel expects Intel ® Xeon ® 6 processors with Performance-cores (P-cores), code-named Granite Rapids, to begin shipping in the third quarter of 2024. The Intel ® Gaudi ® 3 AI accelerator is also on track to launch in the third quarter and is expected to deliver roughly two-times the performance per dollar on both inference and training versus the leading competitor.
• NEX: Intel announced an array of AI-optimized scale-out Ethernet solutions, including the Intel AI network interface card and foundry chiplets that will launch next year. New infrastructure processing unit (IPU) adaptors for the enterprise are now broadly available and supported by Dell Technologies, Red Hat and others. IPUs will play an increasingly important role in Intel’s accelerator portfolio, which the company expects will help drive AI data center growth and profitability in 2025 and beyond. Additionally, Intel and others announced the creation of the Ultra Accelerator Link, a new industry standard dedicated to advancing high-speed, low-latency communication for scale-up AI systems communication in data centers.

Intel Foundry Highlights

• Intel is nearing the completion of its promised five-nodes-in-four-years strategy, with Intel 18A on track to be manufacturing-ready by the end of this year and production wafer start volumes in the first half of 2025. In July 2024, Intel released to foundry customers the 1.0 PDK for Intel 18A. The company’s first two Intel 18A products, Panther Lake for client — the first microprocessor to use RibbonFet, PowerVia and advanced packaging — and Clearwater Forest for servers, are on track to launch in 2025.
• Ansys, Cadence, Siemens, and Synopsys announced the availability of reference flows for Intel’s embedded multi-die interconnect bridge (EMIB) advanced packaging technology, which simplifies the design process and offers design flexibility. The companies also declared readiness for Intel 18A designs.
• During the quarter, Intel named industry veteran Kevin O'Buckley to lead Foundry Services. The company also recently appointed Dr. Naga Chandrasekaran to lead Intel Foundry Manufacturing and Supply Chain. Their leadership will support Intel’s continued development of the first systems foundry for the AI era.

Other Highlights

Intel announced its second Semiconductor Co-Investment Program (SCIP) agreement, the formation of a joint venture with Apollo related to Intel’s Fab 34 in Ireland. SCIP is an element of Intel’s Smart Capital strategy, a funding approach designed to create financial flexibility to accelerate the company’s strategy, including investing in its global manufacturing operations, while maintaining a strong balance sheet.

Q3 2024 Dividend

The company announced that its board of directors has declared a quarterly dividend of $0.125 per share on the company’s common stock, which will be payable Sept. 1, 2024, to shareholders of record as of Aug. 7, 2024.

As noted earlier, Intel is suspending the dividend starting in the fourth quarter.

Business Outlook

Intel's guidance for the third quarter of 2024 includes both GAAP and non-GAAP estimates as follows:

Reconciliations between GAAP and non-GAAP financial measures are included below. Actual results may differ materially from Intel’s business outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below. The gross margin and EPS outlook are based on the mid-point of the revenue range.

Earnings Webcast

Intel will hold a public webcast at 2 p.m. PDT today to discuss the results for its second quarter of 2024. The live public webcast can be accessed on Intel's Investor Relations website at www.intc.com . The corresponding earnings presentation and webcast replay will also be available on the site.

Forward-Looking Statements

This release contains forward-looking statements that involve a number of risks and uncertainties. Words such as "accelerate", "achieve", "aim", "ambitions", "anticipate", "believe", "committed", "continue", "could", "designed", "estimate", "expect", "forecast", "future", "goals", "grow", "guidance", "intend", "likely", "may", "might", "milestones", "next generation", "objective", "on track", "opportunity", "outlook", "pending", "plan", "position", "possible", "potential", "predict", "progress", "ramp", "roadmap", "seek", "should", "strive", "targets", "to be", "upcoming", "will", "would", and variations of such words and similar expressions are intended to identify such forward-looking statements, which may include statements regarding:

• our business plans and strategy and anticipated benefits therefrom, including with respect to our IDM 2.0 strategy, Smart Capital strategy, partnerships with Apollo and Brookfield, internal foundry model, updated reporting structure, and AI strategy;
• projections of our future financial performance, including future revenue, gross margins, capital expenditures, and cash flows;
• projected costs and yield trends;
• future cash requirements, the availability, uses, sufficiency, and cost of capital resources, and sources of funding, including for future capital and R&D investments and for returns to stockholders, such as stock repurchases and dividends, and credit ratings expectations;
• future products, services, and technologies, and the expected goals, timeline, ramps, progress, availability, production, regulation, and benefits of such products, services, and technologies, including future process nodes and packaging technology, product roadmaps, schedules, future product architectures, expectations regarding process performance, per-watt parity, and metrics, and expectations regarding product and process leadership;
• investment plans and impacts of investment plans, including in the US and abroad;
• internal and external manufacturing plans, including future internal manufacturing volumes, manufacturing expansion plans and the financing therefor, and external foundry usage;
• future production capacity and product supply;
• supply expectations, including regarding constraints, limitations, pricing, and industry shortages;
• plans and goals related to Intel's foundry business, including with respect to anticipated customers, future manufacturing capacity and service, technology, and IP offerings;
• expected timing and impact of acquisitions, divestitures, and other significant transactions, including the sale of our NAND memory business;
• expected completion and impacts of restructuring activities and cost-saving or efficiency initiatives;
• future social and environmental performance goals, measures, strategies, and results;
• our anticipated growth, future market share, and trends in our businesses and operations;
• projected growth and trends in markets relevant to our businesses;
• anticipated trends and impacts related to industry component, substrate, and foundry capacity utilization, shortages, and constraints;
• expectations regarding government incentives;
• future technology trends and developments, such as AI;
• future macro environmental and economic conditions;
• geopolitical tensions and conflicts and their potential impact on our business;
• tax- and accounting-related expectations;
• expectations regarding our relationships with certain sanctioned parties; and
• other characterizations of future events or circumstances.

Such statements involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied, including those associated with:

• the high level of competition and rapid technological change in our industry;
• the significant long-term and inherently risky investments we are making in R&D and manufacturing facilities that may not realize a favorable return;
• the complexities and uncertainties in developing and implementing new semiconductor products and manufacturing process technologies;
• our ability to time and scale our capital investments appropriately and successfully secure favorable alternative financing arrangements and government grants;
• implementing new business strategies and investing in new businesses and technologies;
• changes in demand for our products;
• macroeconomic conditions and geopolitical tensions and conflicts, including geopolitical and trade tensions between the US and China, the impacts of Russia's war on Ukraine, tensions and conflict affecting Israel and the Middle East, and rising tensions between mainland China and Taiwan;
• the evolving market for products with AI capabilities;
• our complex global supply chain, including from disruptions, delays, trade tensions and conflicts, or shortages;
• product defects, errata and other product issues, particularly as we develop next-generation products and implement next-generation manufacturing process technologies;
• potential security vulnerabilities in our products;
• increasing and evolving cybersecurity threats and privacy risks;
• IP risks including related litigation and regulatory proceedings;
• the need to attract, retain, and motivate key talent;
• strategic transactions and investments;
• sales-related risks, including customer concentration and the use of distributors and other third parties;
• our significantly reduced return of capital in recent years;
• our debt obligations and our ability to access sources of capital;
• complex and evolving laws and regulations across many jurisdictions;
• fluctuations in currency exchange rates;
• changes in our effective tax rate;
• catastrophic events;
• environmental, health, safety, and product regulations;
• our initiatives and new legal requirements with respect to corporate responsibility matters; and
• other risks and uncertainties described in this release, our 2023 Form 10-K, and our other filings with the SEC.

Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made in this release and in other documents we file from time to time with the SEC that disclose risks and uncertainties that may affect our business.

Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this filing. In addition, the forward-looking statements in this release are based on management's expectations as of the date of this release, unless an earlier date is specified, including expectations based on third-party information and projections that management believes to be reputable. We do not undertake, and expressly disclaim any duty, to update such statements, whether as a result of new information, new developments, or otherwise, except to the extent that disclosure may be required by law.

About Intel

Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.

© Intel Corporation. Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Other names and brands may be claimed as the property of others.

For information about our operating segments, including the nature of segment revenues and expenses, and a reconciliation of our operating segment revenue and operating income (loss) to our consolidated results, refer to our Form 10-K filed on January 26, 2024, Form 8-K furnished on April 2, 2024 and 10-Q filed on August 1, 2024.

Intel Corporation Explanation of Non-GAAP Measures

In addition to disclosing financial results in accordance with US GAAP, this document contains references to the non-GAAP financial measures below. We believe these non-GAAP financial measures provide investors with useful supplemental information about our operating performance, enable comparison of financial trends and results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance. Some of these non-GAAP financial measures are used in our performance-based RSUs and our cash bonus plans.

Our non-GAAP financial measures reflect adjustments based on one or more of the following items, as well as the related income tax effects. Income tax effects are calculated using a fixed long-term projected tax rate of 13% across all adjustments. We project this long-term non-GAAP tax rate on at least an annual basis using a five-year non-GAAP financial projection that excludes the income tax effects of each adjustment. The projected non-GAAP tax rate also considers factors such as our tax structure, our tax positions in various jurisdictions, and key legislation in significant jurisdictions where we operate. This long-term non-GAAP tax rate may be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or changes to our strategy or business operations. Management uses this non-GAAP tax rate in managing internal short- and long-term operating plans and in evaluating our performance; we believe this approach facilitates comparison of our operating results and provides useful evaluation of our current operating performance.

Our non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the financial results calculated in accordance with US GAAP and reconciliations from these results should be carefully evaluated.

Intel Corporation Supplemental Reconciliations of GAAP Actuals to Non-GAAP Actuals

Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the reconciliations from US GAAP to Non-GAAP actuals should be carefully evaluated. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors.

Intel Corporation Supplemental Reconciliations of GAAP Outlook to Non-GAAP Outlook

Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the financial outlook prepared in accordance with US GAAP and the reconciliations from this Business Outlook should be carefully evaluated. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors.

Intel Corporation Supplemental Reconciliations of Other GAAP to Non-GAAP Forward-Looking Estimates

Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the reconciliations should be carefully evaluated. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240801042170/en/

Kylie Altman Investor Relations 1-916-356-0320 [email protected] Penny Bruce Media Relations 1-408-893-0601 [email protected]

Source: Intel Corporation

Released Aug 1, 2024 • 4:01 PM EDT

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