Heidelberg Cement
HeidelbergCement India Ltd
- P/E
- 23.33
Key Fundamentals
MicrocapCement & Cement ProductsConstruction MaterialsPrice-based figures as of · EPS basis: Standalone · TTM
- ROCE
- 14.70%
- Debt to Equity
- 0.01
- EPS (TTM)
- ₹5.14
- Book Value
- ₹55.62
- Market Cap
- —
- P/E (TTM)
- 23.33
- P/B
- 2.16
- ROE
- 10.10%
- Dividend Yield
- 5.85%
- EBITDA
- ₹319 Cr
- 52W High
- ₹195.50
- 52W Low
- ₹114.03
- Day Range
- ₹118.52 – ₹120.43
- Volume
- 1,32,743
Peer Comparison
Commodities › Construction › Cement › Cement & Cement Products
| ₹11,816.00 | 39.56 | ₹3,46,219 Cr | 4.73 | 2.05% | 11.10% | 12.70% | ₹95,572 Cr | ₹8,834 Cr | |
| ₹3,138.00 | 37.92 | ₹2,11,790 Cr | 2.05 | 0.32% | 4.98% | 8.01% | ₹1,84,029 Cr | ₹11,261 Cr | |
| ₹375.95 | 21.09 | ₹92,920 Cr | 1.57 | 0.54% | 8.85% | 5.61% | ₹39,867 Cr | ₹5,222 Cr | |
| ₹24,175.00 | 53.51 | ₹86,846 Cr | 3.66 | 0.63% | 7.51% | 10.30% | ₹21,896 Cr | ₹1,637 Cr | |
| ₹5,076.30 | 41.48 | ₹39,409 Cr | 5.34 | 0.39% | 15.60% | 15.10% | ₹14,401 Cr | ₹939 Cr | |
| ₹1,407.00 | 28.29 | ₹26,437 Cr | 1.48 | 0.29% | 6.11% | 7.59% | ₹15,058 Cr | ₹953 Cr | |
| ₹1,185.30 | 11.66 | ₹22,384 Cr | 1.08 | 0.64% | 10.90% | 11.20% | ₹25,442 Cr | ₹1,908 Cr | |
| Heidelberg Cement (this company) | ₹119.94 | 23.33 | ₹2,690 Cr | 2.16 | 5.85% | 10.10% | 14.70% | ₹2,360 Cr | ₹117 Cr |
| Median 8 companies | ₹2,272.50 | 33.11 | ₹63,128 Cr | 2.11 | 0.59% | 9.48% | 10.75% | ₹23,669 Cr | ₹1,773 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 72
- Strong
- Returns, margins, earnings quality 22% weight
- Valuation
- 54
- Average
- Cheap vs sector & own history 24% weight
- Growth
- 42
- Weak
- Sales & profit trajectory 9% weight
- Financial Health
- 60
- Good
- Solvency, leverage, coverage 9% weight
- Momentum
- 13
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 29
- Poor
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
3- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 125%
Weaknesses
2- The company has delivered a poor sales growth of 1.94% over past five years.
- Company has a low return on equity of 9.67% over last 3 years.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 11 | 6 | 2 |
| Oscillators | Bullish | 1 | 6 | 2 |
| Moving Averages | Strong Bearish | 10 | 0 | 0 |
Oscillators
Bullish
Overall
Strong Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 32.39
- Neutral
- MACD (12,26,9)
- −4.55
- Bullish
- SMA (50)
- 138.18
- Bearish
- SMA (200)
- 153.05
- Bearish
As of
Analyst Rating
2 of 9 analysts rate Buy, 3 Hold, 4 Sell.
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +3.52% |
|---|---|
| 5Y | +1.94% |
| 3Y | +1.35% |
| 1Y | +8.42% |
| TTM | +6.59% |
Net profit
| 10Y | +14.37% |
|---|---|
| 5Y | −15.71% |
| 3Y | +10.62% |
| 1Y | +25.23% |
| TTM | +2.63% |
Operating cash flow
| 10Y | −2.57% |
|---|---|
| 5Y | −14.72% |
| 3Y | −4.31% |
| 1Y | −25.28% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | −1.70 pp |
|---|---|
| 5Y | −11.63 pp |
| 3Y | +1.19 pp |
| 1Y | +1.15 pp |
| TTM | −0.02 pp |
Revenue by year
| Mar 2017 | ₹1,717 Cr |
|---|---|
| Mar 2018 | ₹1,889 Cr |
| Mar 2019 | ₹2,133 Cr |
| Mar 2020 | ₹2,170 Cr |
| Mar 2021 | ₹2,117 Cr |
| Mar 2022 | ₹2,297 Cr |
| Mar 2023 | ₹2,238 Cr |
| Mar 2024 | ₹2,366 Cr |
| Mar 2025 | ₹2,149 Cr |
| Mar 2026 | ₹2,330 Cr |
Net profit by year
| Mar 2017 | ₹76.00 Cr |
|---|---|
| Mar 2018 | ₹133 Cr |
| Mar 2019 | ₹221 Cr |
| Mar 2020 | ₹268 Cr |
| Mar 2021 | ₹315 Cr |
| Mar 2022 | ₹252 Cr |
| Mar 2023 | ₹99.00 Cr |
| Mar 2024 | ₹168 Cr |
| Mar 2025 | ₹107 Cr |
| Mar 2026 | ₹134 Cr |
Analyst Forecasts
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 596 | 566 | 607 | 597 | 532 | 461 | 543 | 612 | 598 | 512 | 574 | 646 | 628 | 568 |
| Expenses | 503 | 497 | 542 | 508 | 454 | 424 | 510 | 522 | 509 | 454 | 521 | 558 | 561 | 520 |
| Operating Profit | 93 | 69 | 65 | 89 | 78 | 37 | 33 | 91 | 89 | 58 | 53 | 88 | 67 | 48 |
| OPM % | 16% | 12% | 11% | 15% | 15% | 8% | 6% | 15% | 15% | 11% | 9% | 14% | 11% | 8% |
| Other Income | 13 | 14 | 13 | 14 | 12 | 13 | 9 | 11 | 9 | 9 | 1 | 4 | 6 | 7 |
| Interest | 9 | 9 | 8 | 9 | 9 | 9 | 7 | 5 | 6 | 6 | 4 | 1 | 3 | 3 |
| Depreciation | 27 | 27 | 27 | 28 | 28 | 26 | 28 | 27 | 27 | 27 | 28 | 27 | 29 | 29 |
| PBT | 70 | 48 | 43 | 66 | 53 | 15 | 8 | 70 | 65 | 33 | 22 | 63 | 41 | 23 |
| Tax % | 25% | 26% | 26% | 27% | 25% | 26% | 31% | 27% | 25% | 26% | 31% | 28% | 25% | 26% |
| Net Profit | 52 | 36 | 31 | 48 | 40 | 11 | 5 | 50 | 48 | 25 | 16 | 45 | 31 | 17 |
| EPS (₹) | 2.31 | 1.58 | 1.39 | 2.13 | 1.76 | 0.49 | 0.23 | 2.23 | 2.13 | 1.1 | 0.69 | 2 | 1.35 | — |
Sep 2026: from the results filed on 29 Oct 2026, ahead of the full statement, so some rows are blank.
Profit & Loss
₹ Cr| Particulars | Mar 2015 15m | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,044 | 1,648 | 1,717 | 1,889 | 2,133 | 2,170 | 2,117 | 2,297 | 2,238 | 2,366 | 2,149 | 2,330 | 2,360 |
| Expenses | 1,783 | 1,417 | 1,439 | 1,526 | 1,650 | 1,642 | 1,610 | 1,862 | 1,989 | 2,049 | 1,909 | 2,043 | 2,095 |
| Operating Profit | 261 | 231 | 279 | 363 | 483 | 528 | 507 | 435 | 249 | 317 | 240 | 287 | 265 |
| OPM % | 13% | 14% | 16% | 19% | 23% | 24% | 24% | 19% | 11% | 13% | 11% | 12% | 11% |
| Other Income | 135 | 22 | 24 | 20 | 35 | 53 | 46 | 49 | 45 | 55 | 45 | 24 | 20 |
| Interest | 139 | 108 | 90 | 74 | 75 | 74 | 51 | 36 | 46 | 35 | 29 | 18 | 15 |
| Depreciation | 138 | 100 | 99 | 101 | 102 | 109 | 111 | 112 | 112 | 110 | 110 | 109 | 111 |
| PBT | 120 | 45 | 114 | 208 | 342 | 398 | 391 | 335 | 136 | 227 | 146 | 184 | 160 |
| Tax % | 50% | 22% | 33% | 36% | 35% | 33% | 20% | 25% | 27% | 26% | 27% | 27% | — |
| Net Profit | 60 | 35 | 76 | 133 | 221 | 268 | 315 | 252 | 99 | 168 | 107 | 134 | 116 |
| EPS (₹) | 2.63 | 1.56 | 3.36 | 5.88 | 9.74 | 11.83 | 13.9 | 11.13 | 4.38 | 7.4 | 4.71 | 5.91 | 5.14 |
| Div. Payout % | 0% | 0% | 59% | 43% | 41% | 63% | 58% | 81% | 160% | 108% | 149% | 118% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 227 | 227 | 227 | 227 | 227 | 227 | 227 | 227 | 227 | 227 | 227 | 227 |
| Reserves | 645 | 668 | 740 | 820 | 945 | 1,088 | 1,267 | 1,339 | 1,235 | 1,243 | 1,169 | 1,145 |
| Borrowings | 1,299 | 1,039 | 705 | 619 | 517 | 413 | 306 | 199 | 182 | 137 | 75 | 14 |
| Other Liabilities | 650 | 681 | 735 | 867 | 1,008 | 1,065 | 1,045 | 1,060 | 1,022 | 1,054 | 1,071 | 1,052 |
| Total Liabilities | 2,820 | 2,615 | 2,408 | 2,533 | 2,696 | 2,793 | 2,845 | 2,824 | 2,665 | 2,661 | 2,542 | 2,438 |
| Fixed Assets | 1,794 | 1,901 | 1,877 | 1,806 | 1,737 | 1,693 | 1,618 | 1,562 | 1,490 | 1,410 | 1,346 | 1,392 |
| CWIP | 127 | 56 | 6 | 8 | 17 | 16 | 19 | 27 | 6 | 28 | 110 | 10 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 5 | 14 | 20 | 20 |
| Other Assets | 899 | 657 | 524 | 719 | 941 | 1,084 | 1,208 | 1,230 | 1,164 | 1,209 | 1,065 | 1,016 |
| Total Assets | 2,820 | 2,615 | 2,408 | 2,533 | 2,696 | 2,793 | 2,845 | 2,824 | 2,665 | 2,661 | 2,542 | 2,438 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 238 | 257 | 361 | 377 | 393 | 459 | 439 | 302 | 226 | 350 | 265 | 198 |
| Investing | 6 | −108 | −40 | −14 | −26 | −14 | −173 | −35 | 144 | −48 | −73 | −341 |
| Financing | −212 | −287 | −315 | −165 | −242 | −314 | −304 | −328 | −267 | −242 | −271 | −244 |
| Net Cash Flow | 32 | −138 | 6 | 198 | 125 | 131 | −38 | −61 | 104 | 60 | −79 | −386 |
| Free Cash Flow | 65 | 135 | 317 | 359 | 351 | 415 | 394 | 255 | 199 | 277 | 165 | 146 |
| CFO/OP | 95 | 117 | 138 | 116 | 96 | 101 | 100 | 82 | 109 | 130 | 131 | 90 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 3 | 6 | 3 | 4 | 4 | 4 | 6 | 6 | 5 | 8 | 10 | 9 |
| Inventory Days | 168 | 195 | 141 | 125 | 158 | 137 | 157 | 147 | 160 | 139 | 141 | 125 |
| Days Payable | 168 | 204 | 194 | 223 | 262 | 243 | 265 | 225 | 239 | 235 | 245 | 244 |
| Cash Conversion Cycle | 3 | −3 | −50 | −95 | −100 | −101 | −102 | −71 | −75 | −88 | −94 | −109 |
| Working Capital Days | −62 | −93 | −36 | −79 | −62 | −63 | −61 | −5 | −37 | −49 | −67 | −50 |
| ROCE % | 9% | 7% | 11% | 17% | 25% | 28% | 25% | 21% | 11% | 16% | 11% | 15% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Heidelberg Cement insights
71 extracted metrics across FY11–FY27.
Documents
- Q4 FY26 concall · Jun 2026Transcript PPT
- Q4 FY26 concall · May 2026PPT
- Q4 FY25 concall · May 2025Transcript PPT
- Concall · May 2025Transcript
- Q4 FY24 concall · Jun 2024Transcript PPT
- 29 Oct 2026
- 29 Jul 2026
- 25 May 2026
- 6 Feb 2026
- 29 Oct 2025
- 31 Jan 2023
- 3 Nov 2021
- 5 Nov 2020
- 27 Mar 2020
- 29 Mar 2019
- General announcements 30 Oct 2026
Frequently Asked Questions about Heidelberg Cement
What does HeidelbergCement India Ltd do?
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Which sector does HeidelbergCement India Ltd belong to?
What is the PE ratio of HeidelbergCement India Ltd?
What is the 52-week high and low of HeidelbergCement India Ltd?
Does HeidelbergCement India Ltd pay dividends?
What is the Return on Equity (ROE) of HeidelbergCement India Ltd?
Company Information
Heidelberg Cement India is the Indian subsidiary of HeidelbergCement Group, Germany. The Company has its operations in Central India at Damoh (Madhya Pradesh), Jhansi (Uttar Pradesh), and in Southern India at Ammasandra (Karnataka). The company sells under the MyCem and MyCem Power brand.
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