Rising petcoke prices
Petcoke prices have increased to ~$116/ton, which could pressure variable costs in H2 if the trend continues.
medium · management_commentaryDalmia Bharat Limited — Q2 FY26
Dalmia Bharat reported a strong Q2 FY26 with revenue of ₹3,417 crore (+10.7% YoY) and EBITDA of ₹696 crore (+60% YoY), driven by better realizations and cost control.
bullish
medium
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Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
GST pass-through impact on realizations
The full pass-through of GST reduction from 28% to 18% has led to lower net realizations, and further price declines beyond GST pass-through are possible in some markets.
high · analyst_questionJP transaction uncertainty
The outcome of the JP insolvency process is awaited; any delay or unfavorable outcome could impact the 75 MTPA capacity target for FY28.
medium · management_commentaryTrade mix decline impacting realizations
Trade share fell to 52% (lowest in 4 years), indicating a shift toward lower-margin non-trade sales, which could pressure overall realizations.
medium · data_observation