DALBHARAT / Q2-FY26 / claim-ledger

Audit the questions that mattered.

Dalmia Bharat · Analyst questions, management answers, and the quality of the response where the ledger is available.

Research layer active

ConCallIQ research layer

Signal, with the source still visible.

Use the controls below to narrow the view, then follow the evidence into the next layer of context.

PositiveQ2-FY26 · 2025-10-30Back to quarter ↗

Questions audited

10

Answered directly

45%

Numeric claims

0

Consistency

—

Question ledger

What was answered, and how?

Ahmed Muraka · Access Capital

evasive

Status of planned expansions at Jalmare and Northeast.

I think northeast has already started trial run... we are still a couple of quarters away before we give clarity on that one. And on Jesselme... we have time up until March 2026 before which we can break ground... wait till March 26 before we'll update you on both.

Ahmed Muraka · Access Capital

evasive

Why realization dropped 4.3% despite focus on profitable growth.

I think again as I said every quarter there are regional mix, segment mix... directionally we are heading in the right direction... we will not be able to comment quarter to quarter.

Ahmed Muraka · Access Capital

evasive

Guidance on volume growth relative to market.

I don't want to give any number but I just I think H2 will be better than H1 hopefully.

Ahmed Muraka · Access Capital

direct

Reason for ₹3,000 crore capex cut.

As I said with some of the critical equipment suppliers we were able to negotiate better credit terms. So that is reflected in lower outgo cash flows in this year still the next year.

Satya Jen · Ambit Capital

direct

Details of new variable compensation structure.

Earlier it was all 100% pay was fixed pay... we have introduced a variable pay structure for senior and middle management... three variables: company performance, individual performance, safety... total variable pay will be around 15 to 25% of total pay.

Satya Jen · Ambit Capital

evasive

How is company performance defined for variable pay?

I think these will be our internal metrics where we have certain budgets... these metrics will basically align management compensation to shareholder outcomes.

Sumangal Natia · Kotto Securities

evasive

How will the 14 million ton gap to 75mt target be filled?

I've said this earlier also I think we are waiting for the JP outcome... parallelly we are developing all other projects to be in a state of readiness... I will be able to give more visibility only in March 26.

Sumangal Natia · Kotto Securities

evasive

Did Dalmia compromise market share for profitability?

Our goal is profitable growth in some markets... we will go for market share in some markets where we have high utilization... I cannot reveal more than this micro market by micro market how we are going to play it.

Pinakin · HSBC

partial

Have costs bottomed out given rising petcoke prices?

Petcoke prices currently are around 116 so naturally there will be some pressure on the external front... but we are also on track to reduce our variable cost. So we'll try to partly cover this and ensure that the impact on the candle is minimum.

Pinakin · HSBC

direct

Reason for Dalmia's price decline vs flat market prices.

The trade percentage is 62% which is lower than the previous quarter so that is one of the reasons you see the relations seem lower.

Rashi · Citi

direct

Current petcoke consumption cost and cost reduction target.

Currently, it has come to about 1.38 on per kal basis and you can expect a marginal increase in the coming quarter.

Rashi · Citi

direct

Incentive accrual and collection numbers.

Yeah 64 cr approval and 50 cr collection and we expect to catch up on the collection in the quarter three.