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Heidelbergcement India Limited.
(HEIDELBERG)
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Rating:69Neutral
Price Target:
₹132.00
▼(-18.27% Downside)
Action:Reiterated
Date:08/26/26
The score is primarily supported by strong financial resilience (especially the very low-leverage balance sheet and consistently positive free cash flow). This is tempered by only moderate technical strength (below the 200-day average and elevated stochastic) and a valuation trade-off where a high P/E offsets an attractive dividend yield.
Positive Factors
Very Low Leverage
Debt-to-equity of about 0.01 in FY2026, down materially from earlier periods, leaves the company conservatively financed. This strengthens resilience through cement-cycle volatility, reduces financing pressure, and preserves flexibility to fund operations or growth without relying heavily on creditors.
Negative Factors
Choppy Revenue Trend
Revenue growth has been inconsistent, with a decline in FY2025 followed by only modest growth in FY2026. This uneven top-line trajectory makes demand momentum less dependable, can limit operating leverage, and complicates planning for capacity utilization and sustained earnings expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Debt-to-equity of about 0.01 in FY2026, down materially from earlier periods, leaves the company conservatively financed. This strengthens resilience through cement-cycle volatility, reduces financing pressure, and preserves flexibility to fund operations or growth without relying heavily on creditors.
Read all positive factors
Heidelbergcement India Limited. (HEIDELBERG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹28.09B
Dividend Yield5.65%
Average Volume (3M)16.08K
Price to Earnings (P/E)24.1
Beta (1Y)1.01
Revenue Growth6.59%
EPS Growth1.05%
CountryIN
Employees958
SectorGeneral
Sector StrengthN/A
IndustryConstruction Materials
Share Statistics
EPS (TTM)5.14
Shares Outstanding226,613,110
10 Day Avg. Volume7,913
30 Day Avg. Volume16,077
Financial Highlights & Ratios
PEG Ratio0.93
Price to Book (P/B)2.27
Price to Sales (P/S)1.34
P/FCF Ratio19.43
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)6.2
Revenue Forecast (FY)₹24.69B
Heidelbergcement India Limited. Business Overview & Revenue Model
Company Description
HeidelbergCement India Limited is an Indian enterprise specializing in the production and distribution of cement. Its product portfolio features Portland pozzolana and Portland slag cement, marketed under brand names such as mycem, mycem Primo, an...
How the Company Makes Money
HeidelbergCement India primarily makes money by manufacturing cement and selling it to (1) the trade/retail channel (dealers, distributors, and retailers supplying individual homebuilders and small contractors) and (2) institutional/bulk customers...
Heidelbergcement India Limited. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
90
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 23.60B | 23.30B | 21.49B | 23.66B | 22.38B | 22.97B |
| Gross Profit | 9.63B | 9.76B | 8.81B | 7.43B | 5.99B | 7.59B |
| EBITDA | 2.86B | 3.11B | 2.85B | 3.71B | 2.94B | 4.84B |
| Net Income | 1.16B | 1.34B | 1.07B | 1.68B | 991.70M | 2.52B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 24.38B | 25.42B | 26.61B | 26.65B | 28.24B |
| Cash, Cash Equivalents and Short-Term Investments | 4.08B | 4.08B | 4.63B | 5.68B | 5.84B | 4.98B |
| Total Debt | 0.00 | 142.30M | 754.10M | 1.37B | 1.82B | 1.99B |
| Total Liabilities | -13.72B | 10.66B | 11.47B | 11.91B | 12.03B | 12.59B |
| Stockholders Equity | 13.72B | 13.72B | 13.95B | 14.70B | 14.61B | 15.65B |
Cash Flow | ||||||
| Free Cash Flow | 620.60M | 1.60B | 1.74B | 2.76B | 1.99B | 2.55B |
| Operating Cash Flow | 838.00M | 2.13B | 2.84B | 3.50B | 2.26B | 3.02B |
| Investing Cash Flow | 116.40M | -3.68B | -1.09B | -479.10M | 1.44B | -350.00M |
| Financing Cash Flow | -1.68B | -2.31B | -2.54B | -2.42B | -2.67B | -3.28B |
Heidelbergcement India Limited. Technical Analysis
Negative
161.50
Price Trends
138.85
Negative
143.68
Negative
148.25
Negative
Market Momentum
-4.44
Negative
39.45
Neutral
70.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HEIDELBERG, the sentiment is Negative. The current price of 161.5 is above the 20-day moving average (MA) of 125.38, above the 50-day MA of 138.85, and above the 200-day MA of 148.25, indicating a bearish trend. The MACD of -4.44 indicates Negative momentum. The RSI at 39.45 is Neutral, neither overbought nor oversold. The STOCH value of 70.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HEIDELBERG.
Heidelbergcement India Limited. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹28.09B | 24.11 | ― | 5.65% | 6.59% | 1.05% | |
68 Neutral | ₹884.35B | 20.04 | ― | 0.56% | 10.70% | 1.03% | |
64 Neutral | ₹3.30T | 37.35 | ― | 2.14% | 17.79% | 18.30% | |
62 Neutral | ₹216.53B | 24.55 | ― | 0.65% | 7.96% | -73.56% | |
62 Neutral | ₹834.21B | 52.68 | ― | 0.65% | 14.32% | -7.88% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹264.06B | 54.11 | ― | 0.68% | 6.14% | -56.44% |
* General Sector Average
IN:HEIDELBERG
Heidelbergcement India Limited.
120.75
-67.09
-35.71%
IN:ACC
ACC Limited
1,130.30
-740.18
-39.57%
IN:AMBUJACEM
Ambuja Cements Limited
348.50
-213.96
-38.04%
IN:DALBHARAT
Dalmia Bharat Ltd.
1,324.70
-759.54
-36.44%
IN:SHREECEM
Shree Cement Limited
23,069.05
-5,066.00
-18.01%
IN:ULTRACEMCO
UltraTech Cement Limited
11,050.10
-657.72
-5.62%
Heidelbergcement India Limited. Corporate Events
HeidelbergCement India Secures 50-Year Limestone Mining Rights in Madhya Pradesh
Sep 13, 2026
HeidelbergCement India Limited has signed a 50-year Mine Development and Production Agreement with the Department of Mineral Resources, Government of Madhya Pradesh, for the Sukha–Satpara limestone block in Damoh district. The block spans ab...
HeidelbergCement India Sets AGM Date and Dividend Record for FY 2025-26
Sep 2, 2026
HeidelbergCement India has scheduled its 67th Annual General Meeting for September 24, 2026, to be held via video conferencing and other audio-visual means in line with regulatory guidance. The company will circulate its 2025-26 annual report, inc...
HeidelbergCement India Files FY 2025-26 Sustainability Report with Exchanges
Sep 2, 2026
HeidelbergCement India Limited has submitted its Business Responsibility and Sustainability Report for the 2025-26 financial year to the Indian stock exchanges. The filing complies with Regulation 34(2)(f) of SEBI’s listing obligations, sign...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.