Heidelbergcement (I) Ltd
NSE: HEIDELBERG · Cement & Cement Products · sector
₹120.63NSE close 2026-10-26
Key numbers
Market cap₹2,734 cr
Price₹120.63
52w high / low₹207 / ₹121
P/E23.5xSector median 21.5x
P/B2.0xSector median 1.4x
Book value₹60.5
Dividend yield5.80%Sector median 0.64%
ROE8.4%Sector median 7.3%
ROCE12.7%Sector median 6.3%
OPM10.9%Sector median 10.9%
Debt / equity0.00xSector median 0.48x
EV/EBITDA9.0xSector median 14.1x
Interest cover12.0x
Current ratio1.10x
Sales growth 3y+1.3%Sector median +1.9%
Profit growth 3y+10.6%Sector median +16.8%
PEG2.24x
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 38 companies in Cement & Cement Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹408 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Borrowings fell in each of the last 3 years (₹174 cr → ₹0 cr).
- Operating profit covered interest 12.0x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 0 of the last 5 years.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 25% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹120.63 on 2026-10-26: -41.6% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹231.76 · low ₹120.63
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 461 | 543 | 612 | 598 | 512 | 574 | 646 | 628 |
| EBITDA | 37 | 33 | 91 | 89 | 58 | 48 | 84 | 67 |
| OPM % | 8.1% | 6.1% | 14.8% | 14.8% | 11.2% | 8.4% | 13.1% | 10.6% |
| Other income | 13 | 9 | 11 | 9 | 9 | 6 | 7 | 6 |
| Net profit | 11 | 5 | 50 | 48 | 25 | 16 | 45 | 31 |
| EPS (₹) | 0.49 | 0.23 | 2.23 | 2.13 | 1.10 | 0.69 | 2.00 | 1.35 |
| Revenue YoY | +10.9% | +5.8% | +5.5% | +5.1% | ||||
| Profit YoY | +122.4% | +200.6% | -10.4% | -36.7% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,297 | 2,238 | 2,366 | 2,149 | 2,330 | 2,360 |
| EBITDA | 435 | 249 | 317 | 239 | 279 | 257 |
| Net profit | 252 | 99 | 168 | 107 | 134 | 116 |
| EPS (₹) | 11.13 | 4.38 | 7.40 | 4.71 | 5.91 | 5.14 |
| Revenue growth | -2.6% | +5.7% | -9.2% | +8.4% | +6.6% | |
| Profit growth | -60.7% | +69.2% | -36.4% | +25.5% | +1.1% | |
| Dividend / share (₹) | 8.00 | 9.00 | 7.00 | 8.00 | 7.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +1.3% | +1.9% | +6.6% |
| Net profit | +10.5% | -15.7% | +1.1% |
| EPS | +10.5% | -15.7% | – |
| Share price | – | -25.7% (2y) | -37.0% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,461 | 1,470 | 1,395 | 1,372 |
| Borrowings | – | 174 | 125 | 65 | 0 |
| Cash & equivalents | – | 492 | 555 | 478 | 408 |
| Total assets | – | 2,665 | 2,661 | 2,542 | 2,438 |
| Fixed assets | – | 1,482 | 1,397 | 1,335 | 1,377 |
| Capital work in progress | – | 6 | 28 | 110 | 10 |
| Investments | – | 5 | 14 | 20 | 20 |
| Receivables | – | 31 | 55 | 57 | 60 |
| Inventory | – | 175 | 176 | 171 | 159 |
| Payables | – | 263 | 310 | 296 | 310 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 302 | 226 | 350 | 265 | 198 |
| Cash from investing | -35 | 144 | -48 | -73 | -341 |
| Cash from financing | -328 | -267 | -242 | -271 | -244 |
| Capex | 47 | 28 | 74 | 109 | 52 |
| Free cash flow | 255 | 199 | 276 | 155 | 146 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 6.8% | 11.4% | 7.7% | 9.8% |
| ROCE % | – | 11.1% | 16.4% | 12.0% | 14.7% |
| Debtor days | – | 5 | 8 | 10 | 9 |
| Inventory days | – | 159 | 139 | 141 | 125 |
| Payable days | – | 239 | 245 | 245 | 244 |
| Cash conversion cycle (days) | – | -75 | -98 | -94 | -110 |
| Working capital days | – | 43 | 35 | 14 | 14 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 69.39% |
| FIIs | 1.01% |
| DIIs | 13.35% |
| of which Mutual funds | 9.78% |
| of which Insurance | 3.57% |
| Public (non-institutions) | 16.24% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 69.39% | 69.39% | 69.39% | 69.39% | 69.39% | 69.39% | 69.39% | 69.39% |
| Promoter group | % |
|---|---|
| Heidelberg Materials South Asia B.V. | 69.39% |
| Heidelberg Materials Netherlands Holding B.V. | 0.00% |
| S.A. Heidelberg Materials Benelux N.V. | 0.00% |
| Heidelberg Materials Holding S.à r.l. | 0.00% |
| Heidelberg Materials International Holding GmbH | 0.00% |
| Heidelberg Materials AG | 0.00% |
| Public holders above 1% | % |
|---|---|
| SBI Elss TAX Saver Fund | 4.72% |
| Life Insurance Corporation of India | 3.57% |
| ICICI Prudential Infrastructure Fund | 3.16% |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small CAP Fund | 1.90% |
| Nihar Nandan Nilekani | 1.43% |
80,801 shareholders. Pledged: 0.00% of promoter shares.
Peers in Cement & Cement Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| ULTRACEMCO | ₹3,29,452 cr | 37.4x | 4.5x | 12.1% | 13.5% | 19.0% | +11.9% | 0.69% |
| GRASIM | ₹2,00,762 cr | 35.1x | 1.9x | 5.7% | 5.9% | 14.2% | +14.2% | 0.83% |
| AMBUJACEM | ₹91,448 cr | 20.8x | 1.5x | 7.8% | 4.8% | 14.6% | +1.4% | 0.62% |
| SHREECEM | ₹84,932 cr | 52.1x | 3.6x | 7.3% | 9.6% | 20.9% | +5.5% | 0.60% |
| JKCEMENT | ₹38,133 cr | 40.3x | 5.4x | 14.4% | 13.7% | 15.9% | +12.2% | 0.30% |
| DALBHARAT | ₹30,890 cr | 32.6x | 1.7x | 2.3% | 6.9% | 18.5% | +3.0% | 0.55% |
| ACC | ₹21,934 cr | 11.5x | 1.1x | 9.8% | 9.2% | 10.4% | +5.3% | 0.64% |
| RAMCOCEM | ₹17,620 cr | 27.3x | 2.2x | 8.3% | 10.1% | 20.7% | +3.4% | 0.27% |
| JSWCEMENT | ₹15,880 cr | 20.5x | 2.4x | 11.6% | 9.8% | 17.2% | – | – |
| HEIDELBERG | ₹2,734 cr | 23.5x | 2.0x | 8.4% | 12.7% | 10.9% | +1.3% | 5.80% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-11 | Dividend | Dividend - Rs 7 Per Share |
| 2025-09-12 | Dividend | Dividend - Rs 7 Per Share |
| 2024-09-17 | Dividend | Annual General Meeting/Dividend - Rs 8 Per Share |
| 2023-09-20 | Dividend | Annual General Meeting/Dividend - Rs 7 Per Share |
| 2022-08-30 | Dividend | Annual General Meeting/Dividend - Rs 9 Per Share |
| 2021-09-17 | Dividend | Annual General Meeting/Dividend - Rs 8 Per Share |
| 2020-09-10 | Dividend | Annual General Meeting/Dividend - Rs 6 Per Share |
| 2019-12-05 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2019-09-11 | Dividend | Annual General Meeting/Dividend - Rs 3 Per Share |
| 2018-11-05 | Dividend | Interim Dividend - Re 1 Per Sh |
| 2018-09-12 | Dividend | Annual General Meeting/Dividend Rs 2.5 Per Share |
| 2017-09-14 | Dividend | Annual General Meeting/Dividend - Rs 2/- Per Share |
| 2016-09-12 | Other | Annual General Meeting |
| 2015-07-30 | Other | Annual General Meeting |
| 2014-06-12 | Other | Annual General Meeting |
| 2013-05-09 | Other | Annual General Meeting |
| 2012-04-13 | Other | Annual General Meeting |
| 2011-06-02 | Other | Annual General Meeting |
| 2010-05-05 | Other | Annual General Meeting |
| 2009-05-22 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Manufacturing and Selling of Cement
| Sector | Commodities |
| Industry | Cement & Cement Products |
| Sub-industry | Cement & Cement Products |
| Symbol | HEIDELBERG |
| BSE code | 500292 |
| ISIN | INE578A01017 |
| Face value | ₹10.0 |
| Incorporated | 1958-05-13 |
| Website | www.mycemco.com |
| Plants (India / abroad) | 3 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.