Cement’s next big player: Sprint or Marathon?

Dalmia Bharat is sprinting for, while JK Cement is pacing for returns. Dalmia’s South/East mix brings more price swings; JK’s North/Central footprint keeps freight lower and EBITDA/tonne steadier. Both are cutting costs via renewables and logistics, but JK’s savings are more visible today. Yet the market’s message: JK gets a discipline premium; Dalmia’s re-rating hinges on on-time ramps and durable per-tonne margins.