Dalmia Dismisses Drama—No Adverse Orders from CCI, Says Business as Usual

Image Source: The Asia-Pacific Antitrust Review

Dalmia Bharat Ltd. has made a formal statement regarding recent media reports on proceedings against the Competition Commission of India (CCI). The company, in a regulatory filing, stated that there are no adverse findings or orders against it and that the issue is procedural in nature and does not have any material impact on its business or financials.

Clarification comes in the face of speculation regarding the competitive conduct of the cement industry and follows a broader CCI probe into large cement manufacturers' price behavior.

Clarification Points of Significance

No Order or Penalty Handed Down: Dalmia Bharat explained that no punitive order or penalty has been handed down by the CCI to the firm.
Procedural Participation: The company is cooperating with the CCI as part of a broader industry probe and has furnished all paperwork sought.
No Material Effect: Dalmia Bharat maintained that the proceedings do not have any material effect on its business operations or financial results.
Compliance Commitment: The company reiterated its dedication to fair trade practices and regulatory norms.

Industry Paradigm

The cement sector has been in the CCI crosshairs for cartelization and price-fixing. While several firms have been issued notices or information requests, no charge sheet has been received by Dalmia Bharat.

The company stays the course in its expansion plan with new additions in Assam and Bihar and a ₹3,520 crore capex plan for achieving 55.5 MTPA cement capacity by FY27.

Sources: BSE India, Investing.com, Nasdaq, Elara Securities