HEIDELBERGCommodities

HeidelbergCement India Limited

Cement & Cement Products · ISIN INE578A01017 · BSE 500292 · NSE EQ · FV ₹10
Last price
₹120
+0.30%today
What this company does

HeidelbergCement India Limited operates in Cement & Cement Products, part of the Commodities sector. It booked ₹568 cr of revenue in its latest quarter (Q2 FY27) and kept 3.0% of sales as profit.

“The Company is primarily engaged in the manufacturing of cement and hence entire operation represents a single primary segment.”
In the report:
57out of 100
Equitytale Health Score
Mixed

Healthier than 57% of companies in Commodities, on all six measures of filed financials. Each measure is ranked against the 91–176 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
31

At close. Not part of the score.

Profitability & returns30

How much profit it earns on the money it employs

Balance sheet73

How much it owes, and whether earnings cover the interest

Cash quality77

Whether reported profit actually arrives as cash

Growth & consistency70

Whether sales and profit have grown, and how steadily

Valuation20

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 11% vs last year
✓ Promoters hold 69%
✓ No promoter shares pledged
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
! Thin 3.0% net margin
! Profit down 33% vs last year
! Low 5.3% return on equity

What if I invest in HEIDELBERG?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹120▲ +0.30%
latest close · 2026-11-04
1-year return
-52.9%
52-wk low ₹11452-wk high ₹261
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio40.5High
LowAverageHigh
P/B ratio2.16Moderate
Below bookModerateHigh
EV / EBITDA11.5Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity5.3%Weak
WeakFairStrong ▸15%
Return on capital7.0%Weak
WeakFairStrong
Net margin3.0%Thin
ThinDecentStrong
EBITDA margin9.7%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover8.2×Strong
RiskyOkayStrong ▸5×
Current ratio1.01Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹2,718 cr
Book value
₹56
EPS
₹0.74
latest quarter
Net debt
₹-189 cr
more cash than debt
Enterprise value
₹2,529 cr
EBITDA
₹219 cr
annualised
EBIT
₹103 cr
annualised
Operating margin
4.5%
Return on assets
3.0%
Earnings yield
2.47%
P/S
1.20
Sales / share
₹100.2
Tax rate
25.8%
Face value
₹10
Shares
22.7 cr
Working capital
₹10 cr
Current assets
₹780 cr
Current liabilities
₹770 cr
Delivery %
52.2%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹31–₹62, midpoint ₹47

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹568 cr
Other Income₹7 cr
Total Income₹574 cr
Cost of Materials₹121 cr
Purchases of Stock-in-Trade₹8 cr
Inventory Change (±)₹3 cr
Employee Benefit Expense₹43 cr
Finance Costs₹3 cr
Depreciation & Amortisation₹29 cr
Other Expenses₹346 cr
Total Expenses₹552 cr
Profit before Tax₹23 cr
Tax Expense₹6 cr
Net Profit₹17 cr
Net margin on total income2.9%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹131 cr22.9%
Employee benefit expense₹43 cr7.4%
Finance costs₹3 cr0.5%
Depreciation & amortisation₹29 cr5.1%
Other expenses₹346 cr60.2%
Tax expense₹6 cr1.0%
Profit for the period₹17 cr2.9%
Total income ₹574 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue646 cr628 cr568 cr
Total income653 cr634 cr574 cr
Expenses587 cr593 cr552 cr
Profit before tax63 cr41 cr23 cr
Tax18 cr10 cr6 cr
Net profit (owners' share)45 cr31 cr17 cr
Net margin (owners' share, on revenue)7.0%4.9%3.0%
EPS (₹)2.001.350.74
YoY (latest quarter): total income +10.3% · net profit -32.7%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹2,239 cr
Shareholder equity
₹1,261 cr
parent shareholders
Total debt
₹0 cr
Cash
₹189 cr
Cash flow · H1 FY27
Operating
₹22 cr
Investing
₹265 cr
Financing
₹-165 cr
Peer comparison
Cement & Cement Products · by market value
CompanyPriceMarket capP/E
UltraTech Cement Limited₹11,700₹3.45 L cr57.6
Grasim Industries Limited₹3,090₹2.10 L cr24.4
Ambuja Cements Limited₹369₹91,672 cr118.2
SHREE CEMENT LIMITED₹23,910₹86,267 cr82.4
JK Cement Limited₹5,085₹39,289 cr56.8
Dalmia Bharat Limited₹1,381₹26,247 cr—
ACC Limited₹1,170₹21,998 cr59.1
The Ramco Cements Limited₹745₹17,604 cr141.1
JSW Cement Limited₹122₹16,499 cr48.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
5.84%
trailing 12 months
Dividend / share (TTM)
₹7
Last dividend
₹7
ex 11 Sep 2026
ActionDetailEx-date
Dividend₹7 / share11 Sep 2026
Dividend₹7 / share12 Sep 2025
Dividend₹8 / share17 Sep 2024
Dividend₹7 / share20 Sep 2023
Dividend₹9 / share30 Aug 2022
Dividend₹8 / share17 Sep 2021
Who owns it · 2026-09-30
No pledge
Promoter
69.4%
FII / Foreign
1.0%
DII / Domestic
13.3%
Retail / others
16.3%
Smart-money activity
Bulk / block deals
BoughtGRAVITON RESEARCH CAPITAL LLP · NSE14.85 L @ ₹242.697 Oct 24
SoldGRAVITON RESEARCH CAPITAL LLP · NSE14.85 L @ ₹243.097 Oct 24
BoughtPLUTUS WEALTH MANAGEMENT LLP · NSE14.85 L @ ₹191.7214 Aug 20
Stake changes
SoldMitsubishi UFJ Financial Group (MUFG) alongwith PAC→ 3.30% · 45.78 L6 Oct 21
BoughtMitsubishi UFJ Financial Group→ 5.32% · 1.21 cr2 Aug 19
BoughtFirst State Investment Management (UK) Limited→ 5.37% · 23.63 L17 Feb 17
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 24 Sep 2025
See the official result
1
Adoption of the Audited Financial Statements together with the Reports of the Board of Directors and Auditors’ and other requisite documents for the financial year ended 31st March 2025
Backed by 100% of shareholders other than promotersneeded 50%
3.64 cr votes for, 1.32 L against · 0% of mutual funds and other big investors said no
2
Declaration of dividend of INR 7 per equity share of the face value of INR 10 each for the financial year 2024-2025.
Backed by 100% of shareholders other than promotersneeded 50%
3.65 cr votes for, 891 against · 0% of mutual funds and other big investors said no
3
To appoint a Director in place of Mr. Roberto Callieri (DIN:05139888), who retires by rotation and being eligible has offered himself for reappointment.
Backed by 94% of shareholders other than promotersneeded 50%
3.45 cr votes for, 20.34 L against · 6% of mutual funds and other big investors said no
4
To re-appoint Mr. Joydeep Mukherjee as Managing Director of the Company for a further term of three years.
Backed by 74% of shareholders other than promotersneeded 50%
2.11 cr votes for, 72.83 L against · 28% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 6 named members
owning 69.4% between them · as of 2026-09-30
HEIDELBERG MATERIALS SOUTH ASIA B.V.69.39%
Heidelberg Materials AGno shares
Heidelberg Materials Holding S.à r.l.no shares
Heidelberg Materials International Holding GmbHno shares
Heidelberg Materials Netherlands Holding B.V.no shares
S.A. Heidelberg Materials Benelux N.V.no shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.