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Flow Indirect Declaration of unmodified opinion true true NA NA false true 2025-05-14 https://www.dalmiaocl.com/documents/Final-RPT-Policy-as-approved-as_14.05.2025.pdf false false Not Applicable 2026-01-01 2026-03-31 Audited Standalone 817700000 25100000 842800000 518100000 138400000 -22800000 55200000 276600000 86900000 808100000 1860500000 -1017700000 0 -1017700000 0 0 0 0 -1017700000 -442500000 0 -442500000 0 -1460200000 -4352400000 -5812600000 458800000 10 -22.18 -22.18 -9.65 -9.65 -31.83 -31.83 0 0 0 Notes to standalone financial results <BR> <BR> 1. The above financial results of Dalmia Bharat Refractories Limited ("the Company") have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on May 19, 2026 and have been audited by the Statutory Auditor of the Company. <BR> 2. The figures for the quarter ended March 31, 2026 and March 31, 2025, are the balancing figures between audited figures in respect of the relevant full financial year and the unaudited published year to date figures upto nine months of the relevant financial year. <BR> 3. Pursuant to the transfer of the Refractory Business in India to RHI Magnesita India Limited (“RHI”) which was concluded on January 4, 2023, then the Indian Refractory Business have been considered as discontinued operations in accordance with Ind AS 105. Mining rights pertaining to the Pilidhar Mines were proposed to be transferred under the arrangement, subject to fulfilment of certain conditions relating to removal of existing encumbrances. As the conditions could not be fulfilled, the parties mutually agreed to retain the Pilidhar Mines with the Company on agreed terms & conditions. Accordingly, the operations relating to the Pilidhar Mines have been reclassified as continuing operations and the corresponding previous year figures have been regrouped/reclassified wherever considered necessary. <BR> 4. Based on internal reorganization of its business segments, increased focus and business review carried out by the Whole-time director and CEO (Chief Operating Decision Maker - CODM) of the Company, the Company has identified the three reportable segments, i.e. "Refractories", "Tyres" and "Tours & Travel Service" as per Ind AS 108 - "Operating Segments", including related disclosures. <BR> 5. The Board of Directors of the Company on February 02, 2024, approved the Scheme of Arrangement (“Scheme”) between Dalmia Bharat Sugar and Industries Limited (“Demerged Company”) and the Company and their respective shareholders under Sections 230 to 232 and all other applicable provisions of the Companies Act, 2013 for transfer and vesting of Demerged Undertaking 1 or “DMC Unit” i.e. the refractory business of Demerged Company which is engaged in the business of manufacturing of refractories and Demerged Undertaking 2 or “GT Unit” i.e. the tours and travel service business of Demerged Company into the Company on a going concern basis. <BR> The aforesaid Scheme has been sanctioned by the Hon’ble National Company Law Tribunal (“NCLT”), Chennai Bench vide its order dated September 12, 2025. The Certified true copy of the said NCLT Order has been filed with the Registrar of Companies on October 09, 2025, being the ‘Effective Date’. The Company has acquired the DMC Unit and GT Unit from Demerged Company, with effect from July 01, 2023 (‘Appointed Date’), through a Scheme of Arrangement , by way of 'Acquisition Method' in accordance with Ind AS 103- Business Combination. In exchange of the DMC Unit and GT Unit transferred by the Demerged Company, the Company has issued 16,79,937 fully paid-up equity shares of face value of Rs. 10 each to the eligible Equity Shareholders of the Demerged Company as on October 31, 2025 (“Record Date”) in the proportion defined in the Scheme. Comparative figures for the previous periods have been restated to give the impact of the Scheme. Accordingly, comparatives have been restated for the above Schemes from the appointed date i.e. July 01, 2023 and the results of the Company is included in above financial results for the quarter / year presented and the effect on the amount of Revenue, Profit and Earnings per Share published in previous period. <BR> 6. The Company was obligated to transfer undisputed lease rights in respect of certain land parcels on long-term lease to RHI Magnesita India Refractories Limited (“RHI”) pursuant to Business Transfer Agreement (“BTA”) dated January 04, 2023. However, due to encroachments, possession of a portion of the land parcel at Rajgangpur, Odisha, admeasuring 8.47 acres, could not be handed over by the Company. Accordingly, compensation amounting to Rs. 11.54 Crores, determined based on an independent third-party valuation report, has been paid to RHI and recognised as an exceptional item in the Statement of Profit and Loss for the year ended March 31, 2026. <BR> Further, during the year, the Company reassessed the carrying value of identified land parcels covered under the aforesaid arrangement and the resulting difference in carrying value of such assets aggregating to Rs. 32.27 Crores has also been charged as an exceptional item in the Statement of Profit and Loss for the year ended March 31, 2026. <BR> 7. Pursuant to the Resolution Plan approved by the Hon’ble National Company Law Tribunal, Kolkata Bench, vide order dated October 19, 2023, for the acquisition of Birla Tyres Limited (“BTL”) jointly by the Company and Himadri Speciality Chemical Limited (“HSCL”) under the Corporate Insolvency Resolution Process (“CIRP”) in accordance with the Insolvency and Bankruptcy Code, 2016 (“IBC”), HSCL exercised its option to convert the Optionally Convertible Debentures issued by BTL into equity shares of Rs. 10/- each. Consequent to the said conversion and allotment, the post-issue equity shareholding of the Company along with its nominees in BTL reduced from 99.99% to 0.33%, resulting in BTL ceasing to be a subsidiary of the Company with effect from April 01, 2025. Further, the Company transferred its remaining 0.33% equity shareholding in BTL to HSCL pursuant to a Share Purchase Agreement executed on April 03, 2025. <BR> 8. Himadri Speciality Chemical Limited (“HSCL”) on April 01, 2025 exercised its option to convert the Optionally Convertible Debentures issued by Himadri Birla Tyre Manufacturer Private Limited (“HBTMPL”) into equity shares of Rs. 10/- each. Pursuant to the said conversion and allotment, the post-issue equity shareholding of the Company in HBTMPL stood reduced from 99.99% to 51% as on April 01, 2025. Subsequently, the Company entered into a Shareholders’ Agreement (“SHA”) with HSCL and HBTMPL. Further, on April 15, 2025, the Board of Directors of the Company approved the transfer of 2% equity stake held by the Company in HBTMPL to Akhyar Estate Holdings Private Limited, a promoter group entity. Post the said transfer, the Company’s shareholding in HBTMPL stands reduced to 49%, thereby resulting in HBTMPL ceasing to be a subsidiary of the Company in terms of Section 2(87) of the Companies Act, 2013 and accordingly HBTMPL became an associate w.e.f. April 16, 2025. <BR> 9. On July 25, 2024, the Hon'ble Supreme Court, in a judgment delivered by a Nine-Judge Constitutional Bench, ruled that royalty is not a tax and upheld the legislative competence of States to levy mineral taxes. Further, in its order dated August 14, 2024, the Court determined that States could levy or demand tax on minerals from April 01, 2005, with payments to be made in 12 installments, starting from April 01, 2026. Given the complexity of the issues involved and pending further clarity, the Company, based on management’s evaluation, has estimated a contingent liability of Rs. 11.13 Crores. This will be reassessed periodically based on further developments in the matter. <BR> 10. The Company is carrying a provision of Rs. 133.25 Crores against compensation demand raised by the local authority for the mine situated at Salem of Rs. 79.88 Crores and interest accrued up to March 31, 2025. During the current year, the Hon’ble High Court of Madras set aside the demand vide its order dated September 10, 2025. Accordingly, the Company has discontinued the accrual of interest on the said demand from the current year. However, as a matter of prudential measures, the Company continues to carry the provision in its books. <BR> 11. On November 21, 2025, the Government of India has notified four labour codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central rules & FAQs to enable assessment of the financial impact due to changes in regulations. <BR> Incremental impact of gratuity and other employee benefits for the year ended March 31, 2026, on the basis of the best information available, consistent with the guidance provided by the Institute of Chartered Accountants of India, has been considered in these financial results <BR> The Company continues to monitor the finalisation of Central/State Rules and clarification from the Government on other aspects of Labour Codes and would provide the appropriate accounting effect on the basis of such developments as needed. <BR> <BR> 12. Pursuant to the Scheme of Arrangement between Dalmia Bharat Sugar and Industries Limited and the Company, the Company has issued 16,79,937 shares at the price of Rs. 676.50 per share at the premium of Rs. 666.50 per share during the year ended March 31, 2026. Accordingly, share suspense account stands nil as on March 31, 2026 (refer note 5). <BR> 13. The Company passed resolutions to sell certain land parcels. These land parcels were reclassified as "Assets held for sale". <BR> 14. During the year, the Company incorporated its wholly owned subsidiary, HPPL Industries Private Limited. Further, the Company divested its investment in Hippostores Technology Private Limited to HPPL Industries Private Limited and, in consideration thereof, received Optionally Convertible Redeemable Preference Shares aggregating to Rs. 425.00 Crores, based on an independent third-party valuation report, <BR> 15. The Board of Directors has recommended final dividend of 10 % i.e. Re. 1 per equity share for the year ended March 31, 2026 subject to approval of shareholders. <BR> 16. The Board of Directors has recommended final dividend of 10 % i.e. Re. 1 per equity share for the year ended March 31, 2026 subject to approval of shareholders. <BR> 17. The figures for the previous period / year have been rearranged & regrouped wherever necessary <BR> 2025-04-01 2026-03-31 Audited Standalone 2251800000 335600000 2587400000 1474900000 327500000 -186600000 234000000 1004500000 321300000 1611500000 4787100000 -2199700000 0 -2199700000 0 0 0 0 -2199700000 -441500000 0 -441500000 0 -2641200000 -4655900000 -7297100000 458800000 10 0 -47.94 -47.94 -9.62 -9.62 -57.56 -57.56 0 0 0 Other Expenses 808100000 Other Expenses 1611500000 4320400000 266700000 2100000 0 380100000 4800000 0 0 21246200000 0 600000 83500000 21330300000 0 327000000 26631400000 1240500000 492700000 276400000 146100000 97700000 1200000 12800000 1026900000 0 576700000 2844100000 134200000 0 29609700000 458800000 16018900000 16477700000 16477700000 8462100000 0 0 0 683800000 9145900000 142900000 0 0 0 9288800000 1060600000 126000000 277000000 403000000 251600000 1715200000 443500000 1684500000 0 0 3843200000 0 0 13132000000 29609700000 Other non-current financial assets 83500000 Other non-current assets 201800000 Non current tax assets (net) 125200000 Other current financial assets 12800000 Other current assets 576700000 lease liabilities 7800000 other financial liabilities 676000000 Other non-current liabilities 0 Other current financial liabilities 247900000 Lease Liability 3700000 Other current liabilities 443500000 Refractories 266200000 Tyres 543900000 Tours and Travel service 7000000 Refractories 715200000 Tyres 1493100000 Tours and Travel service 51900000 817100000 2260200000 100000 600000 817000000 2259600000 Refractories -458200000 Tyres -713300000 Tours and Travel service -3600000 Refractories -562000000 Tyres -1282800000 Tours and Travel service -9000000 -1175100000 -1853800000 276600000 1004500000 8500000 -217100000 -1460200000 -2641200000 Refractories 2710200000 Tyres 4370200000 Tours and Travel service 156200000 7236600000 22373100000 29609700000 Refractories 1995900000 Tyres 427300000 Tours and Travel service 52600000 2475800000 10656200000 13132000000 1004500000 -800600000 -141900000 0 -279900000 0 0 13100000 0 163700000 0 176000000 0 321300000 -10500000 0 54700000 0 0 0 96300000 38100000 -153000000 0 0 0 -370200000 438100000 0 280900000 -1918800000 0 0 0 13000000 0 -1931800000 0 500000 4297500000 3668500000 0 0 0 0 195800000 999600000 0 0 0 0 0 0 0 0 0 0 0 1205700000 1599700000 0 0 0 0 96300000 35700000 0 323200000 -114100000 0 0 0 0 0 0 0 0 2760600000 553400000 5600000 44200000 0 0 0 2157400000 111500000 0 111500000 34600000 146100000 Fair Value of Equity Instruments -4347400000 Income Tax effect on above 0 Re- measurement of Defined Benefit Plans -5000000 Income Tax effect on above 0 -4352400000 Fair Value of Equity Instruments -4663700000 Income Tax effect on above 0 Re- measurement of Defined Benefit Plans 7800000 Income Tax effect on above 0 -4655900000 0 0 0 0 -4352400000 -4655900000 Dalmia Bharat Refractories Limited Dalmia Bharat Sugar and Industries Limited Promoter group entity Purchase of goods or services 25000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Bharat Sugar and Industries Limited Promoter group entity Any other transaction Provision of services-Business Support Services to GT 5000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Bharat Sugar and Industries Limited Promoter group entity Any other transaction Salary & Travelling Exp. 120000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Bharat Sugar and Industries Limited Promoter group entity Sale of goods or services 150000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Bharat Sugar and Industries Limited Promoter group entity Purchase of goods or services 50000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Bharat Sugar and Industries Limited Promoter group entity Sale of goods or services -25000000 NA 5600000 2100000 2900000 Dalmia Bharat Refractories Limited Dalmia Bharat Sugar and Industries Limited Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Bharat Sugar and Industries Limited Promoter group entity Any other transaction Other Payable due to merger NA 0 37400000 37400000 Dalmia Bharat Refractories Limited Dalmia Bharat Limited Promoter group entity Purchase of goods or services 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Bharat Limited Promoter group entity Any other transaction Reimbursement of expenses payable 2000000 NA 0 0 100000 Dalmia Bharat Refractories Limited Dalmia Bharat Limited Promoter group entity Purchase of goods or services 1000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Bharat Limited Promoter group entity Any other transaction Reimbursement of expenses receivable 2000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Bharat Limited Promoter group entity Sale of goods or services -40000000 NA 11300000 1300000 3100000 Dalmia Bharat Refractories Limited Dalmia Bharat Limited Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 100000 0 Dalmia Bharat Refractories Limited Dalmia Cement Bharat Limited Promoter group entity Purchase of goods or services 5000000 NA 2000000 0 0 Dalmia Bharat Refractories Limited Dalmia Cement Bharat Limited Promoter group entity Sale of goods or services -600000000 NA 147200000 21100000 41100000 Dalmia Bharat Refractories Limited Dalmia Cement Bharat Limited Promoter group entity Purchase of goods or services 10000000 NA 600000 100000 0 Dalmia Bharat Refractories Limited Dalmia Cement Bharat Limited Promoter group entity Any other transaction Reimbursement of expenses payable 5000000 NA 0 0 100000 Dalmia Bharat Refractories Limited Dalmia Cement Bharat Limited Promoter group entity Any other transaction Reimbursement of expenses receivable 5000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Cement Bharat Limited Promoter group entity Sale of goods or services -120000000 NA 57800000 13600000 19000000 Dalmia Bharat Refractories Limited Dalmia Cement Bharat Limited Promoter group entity Purchase of fixed assets NA 11200000 0 0 Dalmia Bharat Refractories Limited Dalmia Cement Bharat Limited Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 600000 0 Dalmia Bharat Refractories Limited OCL Global Limited, Mauritius Wholly owned subsidiary Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited OCL Global Limited, Mauritius Wholly owned subsidiary Sale of goods or services -35000000 NA 12500000 6000000 0 Dalmia Bharat Refractories Limited OCL China Limited Step down subsidiary Purchase of goods or services 250000000 NA 10300000 27000000 19200000 Dalmia Bharat Refractories Limited OCL China Limited Step down subsidiary Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited RHI Magnesita India Limited Holding more than 10% of equity shares Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited RHI Magnesita India Refractories Limited (formerly known as Dalmia OCL Limited) Wholly owned subsidiary of a related party Sale of goods or services 150000000 NA 8200000 0 0 Dalmia Bharat Refractories Limited RHI Magnesita India Refractories Limited (formerly known as Dalmia OCL Limited) Wholly owned subsidiary of a related party Purchase of goods or services 50000000 NA 0 0 0 Dalmia Bharat Refractories Limited RHI Magnesita India Refractories Limited (formerly known as Dalmia OCL Limited) Wholly owned subsidiary of a related party Any other transaction Shared Services 2000000 NA 0 0 0 Dalmia Bharat Refractories Limited RHI Magnesita India Refractories Limited (formerly known as Dalmia OCL Limited) Wholly owned subsidiary of a related party Any other transaction Collection receipts on behalf of RHI and subsequent transfer thereof. 100000000 NA 4300000 0 0 Dalmia Bharat Refractories Limited RHI Magnesita India Refractories Limited (formerly known as Dalmia OCL Limited) Wholly owned subsidiary of a related party Any other transaction Back to back agreement 20000000 NA 5100000 21500000 8400000 Dalmia Bharat Refractories Limited RHI Magnesita India Refractories Limited (formerly known as Dalmia OCL Limited) Wholly owned subsidiary of a related party Any other transaction Unforseen Transaction 10000000 NA 4000000 0 0 Dalmia Bharat Refractories Limited RHI Magnesita India Refractories Limited (formerly known as Dalmia OCL Limited) Wholly owned subsidiary of a related party Any other transaction Retention of Mining Rights NA 216900000 0 0 Dalmia Bharat Refractories Limited RHI Magnesita India Refractories Limited (formerly known as Dalmia OCL Limited) Wholly owned subsidiary of a related party Any other transaction Compensation paid - Leasehold land NA 115400000 0 0 Dalmia Bharat Refractories Limited RHI Magnesita India Refractories Limited (formerly known as Dalmia OCL Limited) Wholly owned subsidiary of a related party Any other transaction Advance received for sale of land NA 142800000 0 142800000 Dalmia Bharat Refractories Limited Dalmia Institute of Scientific and Industrial Research Promoter controlled entity Purchase of goods or services 2000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Institute of Scientific and Industrial Research Promoter controlled entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Alirox Abrasives Limited Promoter controlled entity Sale of goods or services 5000000 NA 2000000 2200000 1400000 Dalmia Bharat Refractories Limited Alirox Abrasives Limited Promoter controlled entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Birla Tyre Limited Subsidiary Any other transaction Reimbursement of expenses payable 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Birla Tyre Limited Subsidiary Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Himadri Birla Tyres Manufacturer Private Limited Associate Any other transaction Reimbursement of expenses payable 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Himadri Birla Tyres Manufacturer Private Limited Associate Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Cement (North East) Limited Promoter group entity Sale of goods or services 12000000 NA 1500000 0 0 Dalmia Bharat Refractories Limited Dalmia Cement (North East) Limited Promoter group entity Sale of goods or services -20000000 NA 6900000 1800000 2500000 Dalmia Bharat Refractories Limited Dalmia Cement (North East) Limited Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Bharat Green Vision Limited Promoter group entity Sale of goods or services 2000000 NA 400000 0 0 Dalmia Bharat Refractories Limited Dalmia Bharat Green Vision Limited Promoter group entity Sale of goods or services -20000000 NA 2500000 400000 600000 Dalmia Bharat Refractories Limited Dalmia Bharat Green Vision Limited Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Alsthom Industries Limited Promoter group entity Sale of goods or services 2000000 NA 0 0 0 Dalmia Bharat Refractories Limited Alsthom Industries Limited Promoter group entity Sale of goods or services -1000000 NA 200000 0 0 Dalmia Bharat Refractories Limited Alsthom Industries Limited Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Bharat Foundation Promoter group entity Sale of goods or services -2000000 NA 800000 200000 0 Dalmia Bharat Refractories Limited Dalmia Bharat Foundation Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Antrodaya Commercial & Holdings Pvt. Ltd. Promoter group entity Sale of goods or services -1000000 NA 0 0 0 Dalmia Bharat Refractories Limited Antrodaya Commercial & Holdings Pvt. Ltd. Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Cosmos Cement Limited Promoter group entity Sale of goods or services -1000000 NA 0 0 0 Dalmia Bharat Refractories Limited Cosmos Cement Limited Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Hippostores Technologies Pvt Ltd. Promoter group entity Sale of goods or services -1000000 NA 100000 0 0 Dalmia Bharat Refractories Limited Hippostores Technologies Pvt Ltd. Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited HPPL Industries Private Limited (wholly owned subsidiary) wholly owned subsidiary Investment 0 NA 500000 0 0 Dalmia Bharat Refractories Limited Rama Investment Limited Promoter group entity Sale of goods or services -1000000 NA 0 0 0 Dalmia Bharat Refractories Limited Rama Investment Limited Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Samagama Holdings and Commercial Pvt Ltd. Promoter group entity Sale of goods or services -1000000 NA 0 0 0 Dalmia Bharat Refractories Limited Samagama Holdings and Commercial Pvt Ltd. Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 Dalmia Bharat Refractories Limited Dalmia Vidya Mandir Promoter group entity Sale of goods or services -1000000 NA 400000 0 0 Dalmia Bharat Refractories Limited Dalmia Vidya Mandir Promoter group entity Any other transaction Unforseen Transaction 10000000 NA 0 0 0 OCL China Limited OCL Global Limited Holding Company Sale of goods or services 1000000000 NA 188700000 169900000 0 959200000 Audited true M/s V. Sankar Aiyar & Co. true 2028-04-30