DBL's 18.05% operating margin beats 91-peer Industrials median
Interest of Rs 244.95 cr and other income of Rs 47.29 cr shaped consolidated profit before tax of Rs 157.27 cr.
Filed 10 Aug 2026, 19:30 IST · after market close · Dilip Buildcon Ltd (DBL)
Key takeaways
- Consolidated operating profit of Rs 429.18 cr produced an 18.05% margin, 3.41 percentage points above the 91-peer Industrials median.
- Interest of Rs 244.95 cr was a major counterweight to operating profit, leaving profit before tax at Rs 157.27 cr.
- Management said its mining MDO order book extends 25–55 years, while Q1 FY27 coal output was 3.78 Mn MT at Siarmal and 1.01 Mn MT at Pachhwara.
Price around the results
Operating margin cleared the Industrials peer median
Dilip Buildcon reported consolidated operating profit of Rs 429.18 cr on revenue of Rs 2,377.78 cr, giving an 18.05% operating margin. That was 3.41 percentage points above the 14.64% median for 91 Industrials peers that had reported the quarter. With no year-on-year or sequential comparison supplied, the peer position is the clearest benchmark for this quarter.
Interest remained the main drag below operating profit
Interest of Rs 244.95 cr was a substantial charge against operating profit of Rs 429.18 cr, limiting the conversion of operating earnings into profit before tax of Rs 157.27 cr. Other income of Rs 47.29 cr also provided support to reported pre-tax profit, so earnings quality was not driven by operations alone. Consolidated net profit was Rs 128.01 cr, with EPS of Rs 7.88.
Mining production and long-duration orders anchor the business update
Management reported Q1 FY27 overburden production of 7.00 Mn BCM and coal production of 3.78 Mn MT at Siarmal, while Pachhwara produced 4.12 Mn BCM of overburden and 1.01 Mn MT of coal. The company said its mining MDO order book covers the next 25–55 years. Management also said its manufacturing units for road furniture and other materials are intended to control costs and timelines through backward integration.
Results were filed after market close
The consolidated results were filed after market close, so there is no post-result market reaction to assess yet. The presentation also said the renewable-energy projects have stated revenue of Rs 24,173 cr over the concession period.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹2,378 cr |
| Other income | ₹47 cr |
| Expenses | ₹1,949 cr |
| Operating profit | ₹429 cr |
| Operating margin (%) | 18.05% |
| Interest | ₹245 cr |
| Depreciation | ₹74 cr |
| Profit before tax | ₹157 cr |
| Tax | ₹29 cr |
| Net profit | ₹128 cr |
| EPS (₹) | ₹7.88 |
Operating margin of 18.05% compares with a Industrials sector median of 14.64% across 91 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Siarmal produced 7.00 Mn BCM of overburden and 3.78 Mn MT of coal in Q1 FY27.
- Pachhwara produced 4.12 Mn BCM of overburden and 1.01 Mn MT of coal in Q1 FY27.
Guidance & outlook
- The company has a long-term mining MDO order book for the next 25–55 years.
Expansion
- The company has set up manufacturing units for road furniture and materials used in its business.
New initiatives
- DBL says its manufacturing units help control costs and timelines through strategic backward integration.
- The company has developed renewable energy business projects with a stated revenue over the concession period of Rs.24,173 Cr.
What to watch
- Whether consolidated operating margin holds above 18.05%.
- Whether interest remains below the Rs 244.95 cr reported in Q1 FY27.
- Whether Siarmal and Pachhwara coal production moves from 3.78 Mn MT and 1.01 Mn MT, respectively.