14) Dalmia performance is significantly better vis a vis Jaypee and provides a sense of the improvement possibilities. For the 6 month period ended September 30, 2015, Dalmia cement operations reported sales revenue of INR 30.0 bn with an estimated EBITDA of INR 6.8 bn (EBITDA margin of ~ 22.8%) and EBITDA per ton of cement sold of INR 1,153