---
title: "Bheema Cements Ltd (518017) — Share Price, Financials & Analysis"
symbol: "518017"
company: "Bheema Cements Ltd"
canonical: "https://tapetide.com/stocks/518017"
isin: "INE333H01020"
bse_code: "518017"
sector: "Commodities"
industry: "Cement & Cement Products"
generated_at: "2026-09-13T18:38:05.843Z"
---

# Bheema Cements Ltd (518017)

Canonical page: https://tapetide.com/stocks/518017

## Company

- **BSE Code:** 518017
- **ISIN:** INE333H01020
- **Sector:** Commodities
- **Industry:** Cement & Cement Products
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2008-03-27
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** bheemacements.co.in

## About

Incorporated in 1978, Bheema Cements Ltd in the business of manufacturing and distribution of cement[1]

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of -59.0% over last 3 years.
- Promoter holding has decreased over last 3 years: -11.5%

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | 15% | 6% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 4.08 | 0.32 | 0.26 | 0.26 | 1.27 | 0.33 | 0.27 | 0.23 | 0.59 | 0.23 | 0.25 | 0.22 |
| Operating Profit | -4.08 | -0.32 | -0.26 | -0.26 | -1.27 | -0.33 | -0.27 | -0.23 | -0.59 | -0.23 | -0.25 | -0.22 |
| Other Income | 0.02 | 0 | 0 | 0 | 0.04 | 0.01 | 0 | 0 | 0.06 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 7.14 | 7.12 | 7.12 | 7.12 | 7.12 | 7.12 | 7.12 | 7.12 | 7.12 | 7.12 | 7.12 | 7.12 |
| Profit before tax | -11.2 | -7.44 | -7.38 | -7.38 | -8.35 | -7.44 | -7.39 | -7.35 | -7.65 | -7.35 | -7.37 | -7.34 |
| Tax % | 7.05 | 0 | 21.68 | 0 | 19.16 | 0 | 20.84 | 0 | -16.34 | 0 | 1.9 | 0 |
| Net Profit | -12 | -7.43 | -8.98 | -7.38 | -9.94 | -7.43 | -8.93 | -7.35 | -6.39 | -7.35 | -7.51 | -7.34 |
| EPS in Rs | -3.68 | -2.28 | -2.75 | -2.26 | -3.05 | -2.28 | -2.74 | -2.25 | -1.96 | -2.25 | -2.3 | -2.25 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 8 | 19 | 5 | 11 | 3 | 4 | 15 | 2 | 1 | 1 |
| Operating Profit | -8 | -19 | -5 | -11 | -3 | -4 | -15 | -2 | -1 | -1 |
| OPM % | — | — | — | — | — | — | — | — | — | — |
| Other Income | -1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Interest | 2 | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 12 | 14 | 14 | 0 | 21 | 28 | 28 | 28 | 29 | 28 |
| Profit before tax | -23 | -34 | -19 | -11 | -24 | -32 | -44 | -31 | -30 | -30 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 16 | 7 | 10 | 1 | — |
| Net Profit | -23 | -34 | -19 | -11 | -24 | -37 | -47 | -34 | -30 | -29 |
| EPS in Rs | -8.05 | -12 | -6.83 | -3.8 | -7.38 | -11.33 | -14.42 | -10.35 | -9.23 | -8.76 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 28 | 28 | 28 | 0 | 33 | 33 | 33 | 33 | 33 | 33 |
| Reserves | -53 | -95 | -121 | 175 | 128 | 91 | 44 | 10 | -20 | -35 |
| Borrowings | 235 | 235 | 235 | 179 | 174 | 171 | 199 | 199 | 200 | 200 |
| Other Liabilities | 197 | 206 | 212 | 3 | 2 | 15 | 18 | 23 | 23 | 24 |
| Total Liabilities | 407 | 375 | 354 | 357 | 337 | 309 | 294 | 265 | 237 | 222 |
| Fixed Assets | 380 | 358 | 337 | 337 | 316 | 288 | 260 | 232 | 203 | 189 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 2 | 8 | 8 | 8 | 8 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 27 | 16 | 17 | 20 | 21 | 19 | 26 | 25 | 25 | 25 |
| Total Assets | 407 | 375 | 354 | 357 | 337 | 309 | 294 | 265 | 237 | 222 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 5 | 0 | -6 | -4 | -9 | -9 | -10 | 1 | 0 | 0 |
| Cash from Investing Activity | 0 | 1 | 0 | 0 | 0 | 0 | 0 | -1 | 0 | 0 |
| Cash from Financing Activity | -5 | -1 | 6 | 4 | 20 | 9 | 0 | 0 | 0 | 0 |
| Net Cash Flow | 0 | 0 | 0 | 0 | 11 | 0 | -10 | 0 | 0 | 0 |
| Free Cash Flow | 5 | 1 | -6 | -4 | -9 | -9 | -10 | 0 | 0 | 0 |
| CFO/OP | -84 | -1 | 32 | 85 | 82 | 350 | 277 | -3 | 6 | 5 |

### Ratios

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | -16103 | — | — | — | — | — | — | — | — | — |
| Inventory Days | -9232 | — | — | — | — | — | — | — | — | — |
| Days Payable | — | — | — | — | — | — | — | — | — | — |
| Cash Conversion Cycle | -25335 | — | — | — | — | — | — | — | — | — |
| Working Capital Days | -393191 | — | — | — | — | — | — | — | — | — |
| ROCE % | 0 | -8 | -17 | -12 | -4 | -7 | -10 | -15 | -12 | -13 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 62.22% | 62.22% | 62.6% | 50% | 92% | 90% | 70.81% | 46.52% | 46.52% | 46.52% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 2.76% | 2.76% | 3.06% | 3.06% |
| DIIs | 6.46% | 6.46% | 5.89% | 50% | 8% | 8% | 0% | 0% | 0% | 0% |
| Public | 31.32% | 31.32% | 31.51% | 0% | 0% | 2% | 26.43% | 50.72% | 50.42% | 50.41% |
| No. of Shareholders | 2441 | 2448 | 2448 | 2 | 6 | 37 | 1728 | 5293 | 5218 | 5197 |

### Quarterly

| Category | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 58.04% | 46.52% | 46.52% | 46.52% | 46.52% | 46.52% | 46.52% | 46.52% | 46.52% | 46.52% | 46.52% | 46.52% |
| FIIs | 2.76% | 2.76% | 2.76% | 2.76% | 2.76% | 2.76% | 3.06% | 3.06% | 3.06% | 3.06% | 3.06% | 3.06% |
| DIIs | 0% | 0% | 0% | 0% | 0.18% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 39.2% | 50.72% | 50.72% | 50.72% | 50.54% | 50.72% | 50.41% | 50.42% | 50.41% | 50.41% | 50.41% | 50.41% |
| No. of Shareholders | 2839 | 4218 | 4928 | 5293 | 5388 | 5342 | 5240 | 5218 | 5215 | 5193 | 5196 | 5197 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 6 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 215.16 | Buy |
| EMA (10) | 214.96 | Buy |
| SMA (20) | 224.13 | Sell |
| EMA (20) | 220.45 | Sell |
| SMA (50) | 230.18 | Sell |
| EMA (50) | 231.13 | Sell |
| SMA (100) | 248.59 | Sell |
| EMA (100) | 243.99 | Sell |
| SMA (200) | 265.17 | Sell |
| EMA (200) | 259.1 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 43.89 | Neutral |
| MACD (12,26,9) | -6.61 | Sell |
| Stochastic (14,3,3) | 28.51 | Neutral |
| ADX (14) | 22.96 | Neutral |
| Williams %R (14) | -49.04 | Neutral |
| ATR (14) | 9.76 | High Volatility |
| ROC (12) | -6.06 | Sell |
| Stoch RSI (14) | 81.1 | Sell |
| UO (7,14,28) | 47.25 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-05-06 | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=527d6d26-1e08-49ec-97ee-0ac72b4c5ca2.pdf) |
| 2026-04-29 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d415b5b8-e843-462c-beeb-ffd831c7778d.pdf) |
| 2026-04-29 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4b0ece5f-02ac-42bc-9260-ae4d522dd0e7.pdf) |
| 2026-04-29 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a4f3ccea-425c-4fc8-b325-508901ac8a43.pdf) |
| 2026-04-29 | [Re-Appointment Of Mr. Kuchampudi Srinivasa Upendrasaketh Varma (DIN: 07087346) As The Whole-Time Director Of The Company](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e1f0d6c3-8434-427f-a408-bc398b984b5c.pdf) |
| 2026-04-29 | [Re-Appointment Of Mr. Kandula Prasanna Sai Raghuveer (DIN:07063368) As The Managing Director Of The Company](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=545df9b1-7951-4a85-845b-00f302b2cdbc.pdf) |
| 2026-04-27 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a355ce93-4bf9-4e47-b67d-d9e525be1c7f.pdf) |
| 2026-04-27 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=486b5b8d-1827-4999-b91b-fa8339663e81.pdf) |
| 2026-04-27 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d2d2c32b-ba70-4fd5-ad8f-f9b81034f335.pdf) |
| 2026-04-07 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c9a6ff65-bc0d-4cb1-8771-3da0a178c910.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9h - ICRA reaffirmed Bharat Forge AA+ (Stable)/A1+; Rs.700.0 crore NCD rating withdrawn, Rs.125.0 crore NCD reaffirmed. | [Announcement under Regulation 30 (LODR)-Credit Rating 9h - ICRA reaffirmed Bharat Forge AA+ (Stable)/A1+; Rs.700.0 crore NCD rating withdrawn, Rs.125.0 crore NCD reaffirmed.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/537c3136-0a04-44ed-9d4e-267815b8f178.pdf) |
| 9h - Board meeting 23 Mar 2026 to approve three AGMs (Apr 27, 2026), reports, auditors, e-voting dates. | [Board Meeting Intimation for Meeting To Be Held On 23Rd March, 2026. 9h - Board meeting 23 Mar 2026 to approve three AGMs (Apr 27, 2026), reports, auditors, e-voting dates.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/0c4abdf3-ac86-4736-825f-c3d120ab7775.pdf) |
| 8h - KSSL and GRSE signed MoU on Mar 5, 2026 to collaborate on indigenous ship propulsion and marine engineering. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 8h - KSSL and GRSE signed MoU on Mar 5, 2026 to collaborate on indigenous ship propulsion and marine engineering.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/71f98c66-ef3c-4e70-9a20-6924dd1f9704.pdf) |
| 8h - AGM 27 Apr 2026; adopt FY2023-24 financials; reappoint MD/WTD; approve RPTs up to INR200/300 Crore. | [Notice Of 45Th Annual General Meeting Of The Company 8h - AGM 27 Apr 2026; adopt FY2023-24 financials; reappoint MD/WTD; approve RPTs up to INR200/300 Crore.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/80b2907a-d6a4-4e3a-be62-f817278bc1b2.pdf) |
| 7 Apr - Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 7 Apr - Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c9a6ff65-bc0d-4cb1-8771-3da0a178c910.pdf) |
| 6h - Bheema Cements held its 44th AGM on April 27, 2026; adopted financials and approved related-party transactions. | [Shareholder Meeting / Postal Ballot-Outcome of AGM 6h - Bheema Cements held its 44th AGM on April 27, 2026; adopted financials and approved related-party transactions.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/a355ce93-4bf9-4e47-b67d-d9e525be1c7f.pdf) |
| 6 May - Bheema Cements confirms it is not a Large Corporate; outstanding borrowings were Rs 200.42 crore as of 31 March 2026. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 6 May - Bheema Cements confirms it is not a Large Corporate; outstanding borrowings were Rs 200.42 crore as of 31 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/527d6d26-1e08-49ec-97ee-0ac72b4c5ca2.pdf) |
| 5 Feb - Board meeting on 10 Feb 2026 to approve Q3 and nine-month unaudited results; trading window closed till 48 hours. | [Board Meeting Intimation for Board Meeting Scheduled To Be Held On 10Th February, 2026 5 Feb - Board meeting on 10 Feb 2026 to approve Q3 and nine-month unaudited results; trading window closed till 48 hours.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/567ff543-e329-4d2d-8ee3-32c1405d56d0.pdf) |
| 5 Feb - Auditors qualified FY2024-25; NCLAT payment defaults, potential liquidation, unpaid TDS Rs9.58L, PPE net block Rs19,864.35L. | [Revised Statement On Impact Of Audit Qualification 5 Feb - Auditors qualified FY2024-25; NCLAT payment defaults, potential liquidation, unpaid TDS Rs9.58L, PPE net block Rs19,864.35L.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/380c3874-bc7d-4dd0-be3e-027e5dcce347.pdf) |
| 4h - Approved three AGMs on 27 April 2026; e-voting Apr 24–26; appointed M/s Surabhi Agrawal secretarial auditor. | [Appointment Of Secretarial Auditor 4h - Approved three AGMs on 27 April 2026; e-voting Apr 24–26; appointed M/s Surabhi Agrawal secretarial auditor.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/b29a1565-aa67-4207-b0c6-216a15a95331.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2023 | [Concall - Sep 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/866d3166-02d5-4b40-99e2-fb1fd7d34400.pdf) |
| Oct 2019 | [Concall - Oct 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bf28c77a-e859-48ad-9340-b88f2cc5421b.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/500fea5f-8edb-4e4b-b877-16672e02b4ad.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6c3f9ac9-5077-4226-b1b1-787b65099274.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/da272db5-d4e3-4173-b4c0-5bdae852cffc.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9f3e3200-32b5-4aa5-a56a-81ba6bf1122e.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/05caf2e7-1fc5-46c8-8289-d2b78126724a.pdf) |
| Nov 2020 | [Concall - Nov 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/077ebe57-296a-4a78-b6f7-e4fa4ee3d912.pdf) |
| Nov 2019 | [Concall - Nov 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/494d0757-9987-4592-9281-76b03e6e8fcd.pdf) |
| Nov 2018 | [Concall - Nov 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/11/dbc1fa64-bb5e-4fc8-a1e7-15ce8062f631.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2012 from nse](https://archives.nseindia.com/annual_reports/AR_BHARATFORG_2011_2012_06072012121315.zip) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5f41eef7-88ba-4b5c-be68-cdc1f4a6aa74.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/62cec6c2-4017-448e-b67a-2072cc1c96f6.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4f998b3b-2131-45d8-9b54-de7e34960f48.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/500493/73829500493.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5e9f8167-8731-45ca-aa88-583980f35816.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/500493/69025500493.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/518017/72722518017.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/500493/65275500493.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/518017/72721518017.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:38:05.843Z.