Dalmia Bharat Ltd. benchmarking: Performance to industry peers

Financial

	Dalmia Bharat	ACC	JK Cement
Operational Metrics
Cement
Realization / Tonne - Cement	4823.86 Rs/MT	6005.04 Rs/MT	4724.0 Rs/MT
Manufacturing Capacity - Cement	49.5 MMTPA	40.4 MMTPA	n/a
Capacity Utilization - Cement	60.0 %	80.0 %	83.0 %
EBITDA / Tonne - Cement	1023.0 Rs/MT	526.89 Rs/MT	935.0 Rs/MT
Quarterly Sales Volume - Cement	8.8 Million tonnes	11.9 Million tonnes	5.32 Million tonnes
Financials
5 yr Average ROE	5.96 %	11.56 %	14.56 %
5yr average Equity Multiplier	1.66	1.43	2.74
5yr Average Asset Turnover Ratio	0.49	0.86	0.71
5yr Avg Net Profit Margin	7.39 %	9.72 %	7.56 %
Price to Book	1.78	1.24	6.37
P/E	28.11	11.96	40.49
5yr Avg Cash Conversion Cycle	-178.63 Days	-35.62 Days	-130.9 Days
Inventory Days	26.43 Days	24.51 Days	35.04 Days
Days Receivable	18.0 Days	14.35 Days	17.53 Days
Days Payable	198.68 Days	145.09 Days	179.28 Days
5yr Average Interest Coverage Ratio	5.09	28.62	4.08
5yr Avg ROCE	6.77 %	14.53 %	13.53 %
5yr Avg Operating Profit Margin	20.11 %	14.73 %	18.05 %
5 yr average Debt to Equity	0.26	0.0	0.96
5yr CAGR Net Profit	-10.22 %	10.93 %	3.94 %
5yr Average Return on Assets	3.59 %	8.09 %	5.34 %
Shareholdings
Promoter Holding	55.84 %	56.69 %	45.66 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.02 %	0.0	-0.17 %
Change in Mutual Fund Holding (3 Yrs)	10.03 %	-0.89 %	0.61 %

	Dalmia Bharat	ACC	JK Cement
Product Wise Break-Up	Product Wise Break-Up Portland pozzolamd Cement 55.0 Portland Composite Cement 18.0 Portland Slang Cement 14.0 OPC 13.0 Special Catogory Cement 0 Traded goods 0 Refractories 0 Cement and its related products 0 White Cement and allied products 0 Grey Cement 0	-	Product Wise Break-Up Grey Cement 74.82 Portland Slang Cement 0 Refractories 0 Cement and its related products 0 White Cement 25.18 Special Catogory Cement 0 Portland pozzolamd Cement 0 Traded goods 0 OPC 0 Portland Composite Cement 0
Location Wise Break-Up	Location Wise Break-Up India 100.0 Rest of the World 0	Location Wise Break-Up Rest of the World 0 India 100.0	Location Wise Break-Up Rest of the World 0 India 91.31 Others 8.69
Asset Break-Up	Asset Break-Up India 100.0 Rest of the World 0 Ready Mix Concrete 0 Cement 0	Asset Break-Up Ready Mix Concrete 4.44 Cement 91.49 Rest of the World 0 India 0 Others 4.07	Asset Break-Up Ready Mix Concrete 0 Cement 0 Rest of the World 0 India 100.0
Segment Wise Break-Up	Segment Wise Break-Up Cement 100.0 Refractory Products 0 Distillery 0 Power 0	-	-