New Delhi, Oct. 23 -- Dalmia Bharat Ltd's focus on capacity expansion could help it regain lost ground. The company's volumes had declined year-on-year from Q3FY25 to Q1FY26 amid muted cement demand and rising competition in its core southern and eastern markets.

However, in the September quarter (Q2FY26), volumes rose about 3% year-on-year to 6.9 million tonnes (mt), broadly in line with industry growth. The ramp-up of recently added capacities and the completion of ongoing projects provide visibility for medium-term volume growth.

According to the Q2 earnings call, capacity addition projects in Belgaum, Pune, and Kadapa are progressing as planned. These will together add about 12 mtpa of new capacity, reinforcing Dalmia's presence in ...