MarketFriction

HeidelbergCement India Ltd

NSE HEIDELBERG · BSE 500292 · Cement & Cement Products
₹130.57 -1.53%
NSE close2026-10-01
52 week range129.01 - 206.70
Market cap₹2,951 Cr.
P/E24.3
Price band 20% Delivery 56.7%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales566607597532461543612598512574646628
Expenses497542508454424510522509454521558561
Operating Profit696589783733918958538867
OPM %12%11%15%15%8%6%15%15%11%9%14%11%
Other Income141314121391199146
Interest989997566413
Depreciation272728282628272727282729
Profit before tax48436653158706533226341
Tax %26%26%27%25%26%31%27%25%26%31%28%25%
Net Profit36314840115504825164531
EPS in Rs1.581.392.131.760.490.232.232.131.100.692.001.35
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,6481,7171,8892,1332,1702,1172,2972,2382,3662,1492,3302,360
Expenses1,4171,4391,5261,6501,6421,6101,8621,9892,0491,9092,0432,095
Operating Profit231279363483528507435249317240287265
OPM %14%16%19%23%24%24%19%11%13%11%12%11%
Other Income222420355346494555452420
Interest1089074757451364635291815
Depreciation10099101102109111112112110110109111
Profit before tax45114208342398391335136227146184160
Tax %22%33%36%35%33%20%25%27%26%27%27%
Net Profit357613322126831525299168107134116
EPS in Rs1.563.365.889.7411.8313.9011.134.387.404.715.915.14
Dividend Payout %0%59%43%41%63%58%81%160%108%149%118%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth4%2%1%7%
Compounded Profit Growth15%-15%12%6%
Stock Price CAGR0%-13%-10%-35%
Return on Equity14%10%10%10%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital227227227227227227227227227227227227
Reserves6456687408209451,0881,2671,3391,2351,2431,1691,145
Borrowings1,2991,0397056195174133061991821377514
Other Liabilities6506817358671,0081,0651,0451,0601,0221,0541,0711,052
Total Liabilities2,8202,6152,4082,5332,6962,7932,8452,8242,6652,6612,5422,438
Fixed Assets1,7941,9011,8771,8061,7371,6931,6181,5621,4901,4101,3461,392
CWIP12756681716192762811010
Investments000000055142020
Other Assets8996575247199411,0841,2081,2301,1641,2091,0651,016
Total Assets2,8202,6152,4082,5332,6962,7932,8452,8242,6652,6612,5422,438
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity238257361377393459439302226350265198
Cash from Investing Activity6-108-40-14-26-14-173-35144-48-73-341
Cash from Financing Activity-212-287-315-165-242-314-304-328-267-242-271-244
Net Cash Flow32-1386198125131-38-6110460-79-386
Free Cash Flow65135317359351415394255199277165146
CFO/OP95%117%138%116%96%101%100%82%109%130%131%90%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days3634446658109
Inventory Days168195141125158137157147160139141125
Days Payable168204194223262243265225239235245244
Cash Conversion Cycle3-3-50-95-100-101-102-71-75-88-94-109
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%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters69.39%69.39%69.39%69.39%69.39%69.39%69.39%69.39%69.39%69.39%69.39%69.39%
FIIs3.91%4.33%4.48%4.42%3.13%2.31%2.27%1.35%1.42%1.18%1.15%1.07%
DIIs8.97%10.01%10.82%10.81%11.89%12.67%13.27%13.98%14.08%14.24%14.21%13.87%
Government0.14%0.14%0.14%0.14%0.14%0.14%0.14%0.14%0.34%0.00%0.00%0.00%
Public17.58%16.12%15.16%15.25%15.43%15.49%14.91%15.13%14.76%15.18%15.25%15.66%
No. of Shareholders1,02,65091,10189,34589,80592,03987,64785,19083,55680,78179,80678,43378,468

Fundamentals

Market Cap₹ 2,951 Cr.
Current Price₹ 130
Stock P/E24.3
Book Value₹ 60.5
ROCE14.7 %
ROE10.1 %
Dividend Yield5.37 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)7%
Compounded Profit Growth (TTM)6%
Standalone figures.
Valuation
Market capRs 2,959 Cr
Enterprise valueRs 2,566 Cr
P/E (TTM)25.45x
Price to book2.16x
Price to sales1.25x
EV / EBITDA8.98x
EV / EBIT14.68x
EV / sales1.09x
Price to cash flow14.94x
Earnings yield3.93%
Dividend yield5.36%
P/E, 3-year average30.60x
P/B, 3-year average2.84x
P/E, 5-year average29.12x
P/B, 5-year average2.75x
Profitability
Operating margin (excl. other income)12.32%
Operating margin (incl. other income)13.33%
EBITDA margin12.10%
Pre-tax margin6.78%
Net profit margin4.93%
Net margin, latest quarter4.86%
ROE9.68%
ROCE14.11%
ROA5.38%
ROE, 3-year average9.53%
ROCE, 3-year average13.86%
ROA, 3-year average5.26%
ROE, 5-year average10.33%
ROCE, 5-year average14.62%
ROA, 5-year average5.66%
ROIC (approx.)13.02%
Tax rate27.09%
Other income / net worth1.72%
Growth
Sales growth (latest year)8.41%
Profit growth (latest year)25.50%
Sales CAGR, 3 years1.34%
Sales CAGR, 5 years1.94%
Profit CAGR, 3 years10.55%
Profit CAGR, 5 years-15.71%
Sales growth QoQ-2.80%
Profit growth QoQ-32.43%
Sales growth YoY (latest quarter)5.12%
Profit growth YoY (latest quarter)-36.66%
Per share
EPS (TTM)Rs 5.13
EPS (latest year)Rs 5.91
EPS (latest quarter)Rs 1.35
EPS, 3-year averageRs 6.01
EPS, 5-year averageRs 6.71
Book value per shareRs 60.53
Sales per shareRs 104.14
Cash flow per shareRs 8.74
Free cash flow per shareRs 6.44
Dividend per share (latest year)Rs 7.00
Dividend per share, 3-year averageRs 7.33
Dividend per share, 5-year averageRs 7.60
Dividends
Dividend payout118.41%
Dividend payout, 3-year average125.03%
Dividend payout, 5-year average123.18%
Efficiency
Asset turnover0.96x
Fixed asset turnover1.67x
Inventory turnover8.41x
Inventory days43 days
Debtor days9 days
Debtors turnover39.06x
Creditor days244 days
Cash conversion cycle-109 days
Working capital days-50 days
Leverage
Total debtRs 14 Cr
Cash and bankRs 408 Cr
Net debtRs -394 Cr
Debt to equity0.01x
Net debt / EBITDA-1.38x
Interest coverage11.96x
Current ratio (filing 2026-03-31)1.10x
Quick ratio (filing 2026-03-31)0.92x
Trade payables (filing 2026-03-31)Rs 310 Cr
Owners' fund to total sources56.26%
Debt to assets0.58%
Cash flow
Cash from Operating Activity (latest year)Rs 198 Cr
Cash from Investing Activity (latest year)Rs -341 Cr
Cash from Financing Activity (latest year)Rs -244 Cr
Net Cash Flow (latest year)Rs -386 Cr
Free cash flow (latest year)Rs 146 Cr
FCFE (approx.: FCF + change in debt)Rs 85 Cr
Cash from ops / profit, 5 years1.76x
Sales to cash flow11.76x
Statement figures
Net sales (TTM)Rs 2,360 Cr
Net sales (latest year)Rs 2,330 Cr
Sales (latest quarter)Rs 628 Cr
Operating profit excl. other income (latest year)Rs 287 Cr
Operating profit (latest quarter)Rs 67 Cr
Other income (TTM)Rs 20 Cr
EBITDA (TTM)Rs 286 Cr
PBDT (TTM)Rs 271 Cr
Profit before tax (TTM)Rs 160 Cr
Tax (latest year)Rs 50 Cr
Net profit (TTM)Rs 116 Cr
Net profit (latest year)Rs 134 Cr
Net profit (latest quarter)Rs 31 Cr
Depreciation (TTM)Rs 111 Cr
Depreciation (latest quarter)Rs 29 Cr
Interest (TTM)Rs 15 Cr
Cost of goods sold (latest year)Rs 1,338 Cr
Total expenditure (latest year)Rs 2,043 Cr
Total income (latest year)Rs 2,353 Cr
Share capitalRs 227 Cr
ReservesRs 1,145 Cr
Shareholders' fundsRs 1,372 Cr
Total assetsRs 2,438 Cr
Net blockRs 1,392 Cr
Capital work in progressRs 10 Cr
InvestmentsRs 20 Cr
ReceivablesRs 60 Cr
InventoryRs 159 Cr
Other liabilitiesRs 1,052 Cr
Shares outstanding (crore)22.66
Ownership
Promoter holding69.39% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 25.4 is at the 47th percentile of its own 9.4-year range (median 25.8, low 13.2, high 53.6).
P/B 2.16 is the lowest in 9.4 years (median 3.20).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodHEIDELBERGNifty 50Difference
1 week-6.4%-2.8% -3.6 pts
1 month-17.4%-6.8% -10.6 pts
3 months-16.5%-7.6% -8.9 pts
6 months-5.1%+0.4% -5.5 pts
1 year-37.3%-9.9% -27.3 pts
2 years-41.7%-13.6% -28.1 pts
3 years-27.1%+14.2% -41.3 pts
5 years-49.1%+27.9% -77.0 pts
9 mutual fund schemes hold about ₹396 Cr. Over three months 8 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI ELSS Tax Saver Fund0.38%120 +24%
Axis Small Cap Fund0.24%75 +13%
SBI Multi Asset Allocation Fund(A0.23%48 +14%
ICICI Pru Dividend Yield Fund0.71%47 +22%
ICICI Pru Small Cap Fund0.35%34 +11%
ICICI Pru Small Cap Fund0.35%33 +11%
ICICI Pru Infrastructure Fund0.24%20 +23%
ICICI Pru Multi Asset Allocation Fund0.02%18 +14%
Motilal Oswal BSE 1000 Index Fund0.01%0

Red flags

F-score 8 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹628 Cr +5.0% vs Jun 2025. Net profit ₹31 Cr -35.4%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-11Dividend - Rs 7 Per Share
2025-09-12Dividend - Rs 7 Per Share
2024-09-17Annual General Meeting/Dividend - Rs 8 Per Share
2023-09-20Annual General Meeting/Dividend - Rs 7 Per Share
2022-08-30Annual General Meeting/Dividend - Rs 9 Per Share
2021-09-17 Annual General Meeting/Dividend - Rs 8 Per Share
2020-09-10 Annual General Meeting/Dividend - Rs 6 Per Share
2019-12-05 Interim Dividend - Rs 1.50 Per Share
2019-09-11 Annual General Meeting/Dividend - Rs 3 Per Share
2018-11-05 Interim Dividend - Re 1 Per Sh
2018-09-12 Annual General Meeting/Dividend Rs 2.5 Per Share
2017-09-14 Annual General Meeting/Dividend - Rs 2/- Per Share
2016-09-12 Annual General Meeting
2015-07-30Annual General Meeting
2014-06-12Annual General Meeting
2013-05-09Annual General Meeting
2012-04-13Annual General Meeting
2011-06-02Annual General Meeting
2010-05-05Annual General Meeting
2009-05-22Annual General Meeting
2008-06-18Annual General Meeting
2007-05-30Agm
2006-08-30Agm Bc Date Revised
DateTypeWhat it says
2026-09-30General UpdatesMonthly Reporting regarding request for re-lodgement of transfer request of physical form.
2026-09-28Shareholder meetingVoting results.
2026-09-24Shareholder meetingShareholders meeting
2026-09-13General UpdatesDisclosure under Regulation 30 of SEBI LODR
2026-09-02General UpdatesSubmission of Business Responsibility and Sustainability Report for FY 2025-26
2026-09-02Record DateRecord date for the purpose of Dividend is 11-Sep-2026.
2026-09-02Shareholder meetingNotice of Annual General Meeting to be held on September 24, 2026
2026-08-31UpdatesMonthly Reporting regarding request for re-lodgement of transfer request of physical form.
2026-07-31UpdatesMonthly Reporting regarding request for re-lodgement of transfer request of physical form.
2026-07-29Board meeting outcomeHeidelbergCement India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-06-30General UpdatesMonthly Reporting regarding request for re-lodgement of transfer request of physical form.
2026-06-16Disclosure under SEBI TakeovM.C.M. Cremers and I.M. Westerhof-Zwevernink For and on behalf of Heidelberg Materials South Asia B.V. (formerly known as Cementrum I BV) has Submitte...
2026-06-03Concall / analyst meetTranscript
2026-05-30UpdatesAnnual Secretarial Compliance Report.
2026-05-30UpdatesMonthly Reporting regarding request for re-lodgement of transfer request of physical form.
2026-05-30Concall / analyst meetLink of Recording
2026-05-29Investor PresentationInvestor Presentation
2026-05-25Concall / analyst meetSchedule of meet
2026-05-25Change in ManagementChange in Management
2026-05-25Record DateRecord date for the purpose of Dividend is 11-Sep-2026.
2026-05-25Board meeting outcomeHeidelbergCement India Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-25DividendBoard of Directors at its meeting held on May 25, 2026, recommended Final Dividend of Rs. 7 per equity share.
2026-05-18UpdatesHeidelbergCement India Limited has informed the Exchange regarding general update under Regulation 30 of the SEBI (Listing Obligations & Disclosure Re...
2026-04-28General UpdatesMonthly Reporting regarding request for re-lodgement of transfer request of physical form
2026-04-23Disclosure under SEBI TakeovHeidelberg Materials South Asia B.V. (formerly known as Cementrum I BV) has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of t...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of HeidelbergCement India Ltd?

HeidelbergCement India Ltd (HEIDELBERG) has a market capitalisation of Rs 2,951 Cr. at the 2026-10-01 close.

What is the P/E ratio of HeidelbergCement India Ltd?

HeidelbergCement India Ltd trades at a P/E of 24.3 on trailing twelve-month profit, at the 2026-10-01 close.

What were HeidelbergCement India Ltd's latest quarterly results?

In the Jun 2026 quarter, HeidelbergCement India Ltd sales was Rs 628 Cr (+5.0% vs Jun 2025) and net profit was Rs 31 Cr.

What is the 52-week high and low of HeidelbergCement India Ltd?

The 52-week high is Rs 206.70 and the 52-week low is Rs 129.01.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03