Dalmia wins Bhilai Jaypee cement assets under IBC, adds 3.3 MTPA
The resolution plan adds grinding and clinker units in central India, taking Dalmia's capacity to ~55 MTPA; NCLT approval pending.
— 3 earlier stories on Dalmia Bharat Ltd. →What's new
- Dalmia Cement chosen as successful resolution applicant for Bhilai Jaypee Cement under IBC.
- Assets: 2.2 MTPA grinding unit in Chhattisgarh, 1.1 MTPA clinker unit in MP.
- Resolution plan approved by creditors, awaits NCLT and regulatory nod.
Why this matters
The acquisition adds 3.3 MTPA to Dalmia's capacity, inching it closer to the 75 MTPA target by FY28. It also resolves a long-standing insolvency case where Dalmia had already taken a ₹113 crore provision. However, without disclosed financial terms, the immediate debt or profitability impact is unclear.
What we're watching
- NCLT approval timeline and any challenges.
- Disclosed financial terms and impact on debt.
- Integration progress and capacity ramp-up.
The full read
Dalmia Cement, a subsidiary of Dalmia Bharat, has been selected as the successful resolution applicant for Bhilai Jaypee Cement under the IBC, receiving a Letter of Intent on July 28. The acquisition adds 3.3 MTPA of capacity — a 2.2 MTPA grinding unit in Chhattisgarh and a 1.1 MTPA clinker unit in Madhya Pradesh. Combined with the recent JAL Cement acquisition (May 2026), Dalmia now operates about 55 MTPA of cement capacity. The plan is creditor-approved but awaits NCLT and other regulatory clearance. Dalmia had provisioned ₹113 crore in FY25 against its Jaypee exposure, so this resolution brings closure and supports its target of 75 MTPA by FY28. Without disclosed financial terms, the deal's debt or profitability impact remains uncertain. For a company with a ₹32,269 cr market cap and 0.38 debt-to-equity, this is a step toward a larger goal.
Questions answered
- How much capacity does Dalmia have post this acquisition?
- Including the recent JAL acquisition completed in May 2026, Dalmia's capacity stands at around 55 MTPA. This acquisition adds 3.3 MTPA.
- What is the status of the resolution plan?
- The plan has been approved by the committee of creditors and a Letter of Intent issued. It still needs approval from NCLT and other regulators.
- What was Dalmia’s earlier exposure to Jaypee assets?
- Dalmia had recorded a provision of ₹113 crore in fiscal 2025 against its exposure to Jaypee cement assets.
- How does this fit Dalmia’s capacity target?
- Dalmia aims to reach 75 MTPA of cement capacity by fiscal 2028. This acquisition contributes to that goal.
- Where are the acquired plants located?
- The grinding unit is in Chhattisgarh and the clinker unit in Madhya Pradesh, strengthening Dalmia's presence in central India.
Dalmia Bharat Ltd.
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All notes on DALBHARAT →- 28 Jul 2026 · 5:25 PM IST Dalmia wins Bhilai Jaypee cement assets under IBC, adds 3.3 MTPA
- today Dalmia Bharat's Q1 shows steady volumes, Jaypee integration on track
- 11d ago Dalmia Bharat sets July 24 for Q1 board meeting
- 68d ago Dalmia buys ₹2,850 cr cement plants from Adani's Jaiprakash, enters central India