Heidelbergcement India Limited. (IN:HEIDELBERG)
:HEIDELBERG
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Heidelbergcement India Limited.
(HEIDELBERG)
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Rating:55Neutral
Price Target:
₹141.00
▼(-19.75% Downside)
Action:ReiteratedDate:04/01/26
The score is held back primarily by weak technicals (clear downtrend and bearish momentum). Financial performance is mixed—balance sheet stability and steady operating cash flow help, but declining margins, negative revenue growth, and weakening free cash flow are key risks. Valuation is also mixed, with a strong dividend yield offset by a very high P/E.
Positive Factors
Balance sheet strength
A conservatively levered balance sheet with a robust equity ratio provides durable financial flexibility. This supports capex, cyclical cushioning, and access to funding without straining interest coverage, enabling the company to invest or withstand demand slowdowns over a multi-month horizon.
Negative Factors
Declining free cash flow
Falling free cash flow constrains reinvestment, deleveraging and shareholder returns over the medium term. Persistently weaker FCF reduces optionality for maintenance capex, strategic projects, or buffer against demand shocks, pressuring long-term growth and financial resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
A conservatively levered balance sheet with a robust equity ratio provides durable financial flexibility. This supports capex, cyclical cushioning, and access to funding without straining interest coverage, enabling the company to invest or withstand demand slowdowns over a multi-month horizon.
Read all positive factors
Heidelbergcement India Limited. (HEIDELBERG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹33.14B
Dividend Yield4%
Average Volume (3M)9.69K
Price to Earnings (P/E)63.5
Beta (1Y)1.00
Revenue Growth3.06%
EPS Growth-1.48%
CountryIN
Employees1,017
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)0.80
Shares Outstanding226,613,110
10 Day Avg. Volume5,272
30 Day Avg. Volume9,688
Financial Highlights & Ratios
PEG Ratio-1.16
Price to Book (P/B)3.20
Price to Sales (P/S)2.08
P/FCF Ratio25.59
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)8.26
Revenue Forecast (FY)₹24.41B
Heidelbergcement India Limited. Business Overview & Revenue Model
Company Description
HeidelbergCement India Limited manufactures and sells cement in India. The company offers Portland pozzolana cement and Portland slag cement under the mycem, mycem Primo, and mycem Power brand. It also provides concrete solution lab and mobile tec...
How the Company Makes Money
HeidelbergCement India Limited primarily makes money by manufacturing and selling cement. Its core revenue stream is domestic sales of cement to (1) trade channels such as dealers and retailers who supply individual home builders and small contrac...
Heidelbergcement India Limited. Financial Statement Overview
Summary
Income Statement
55
Neutral
Balance Sheet
73
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.64B | 21.49B | 23.66B | 22.38B | 22.97B | 21.17B |
| Gross Profit | 13.62B | 8.81B | 7.43B | 5.99B | 7.59B | 8.10B |
| EBITDA | 3.09B | 2.85B | 3.71B | 2.94B | 4.84B | 5.53B |
| Net Income | 1.29B | 1.07B | 1.68B | 991.70M | 2.52B | 3.15B |
Balance Sheet | ||||||
| Total Assets | 24.37B | 25.42B | 26.61B | 26.65B | 28.24B | 28.45B |
| Cash, Cash Equivalents and Short-Term Investments | 3.90B | 4.63B | 5.68B | 5.84B | 4.98B | 4.30B |
| Total Debt | 835.50M | 754.10M | 1.37B | 1.82B | 1.99B | 3.06B |
| Total Liabilities | 11.28B | 11.47B | 11.91B | 12.03B | 12.59B | 13.52B |
| Stockholders Equity | 13.10B | 13.95B | 14.70B | 14.61B | 15.65B | 14.94B |
Cash Flow | ||||||
| Free Cash Flow | 620.60M | 1.74B | 2.76B | 1.99B | 2.55B | 3.91B |
| Operating Cash Flow | 838.00M | 2.84B | 3.50B | 2.26B | 3.02B | 4.39B |
| Investing Cash Flow | 116.40M | -1.09B | -479.10M | 1.44B | -350.00M | -1.73B |
| Financing Cash Flow | -1.68B | -2.54B | -2.42B | -2.67B | -3.28B | -3.04B |
Heidelbergcement India Limited. Technical Analysis
Negative
175.70
Price Trends
160.70
Negative
169.14
Negative
185.92
Negative
Market Momentum
-4.96
Positive
40.98
Neutral
38.35
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 175.7 is above the 20-day moving average (MA) of 150.59, above the 50-day MA of 160.70, and below the 200-day MA of 185.92, indicating a bearish trend. The MACD of -4.96 indicates Positive momentum. The RSI at 40.98 is Neutral, neither overbought nor oversold. The STOCH value of 38.35 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 (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ₹27.13B | 31.64 | ― | 0.29% | 3.43% | 100.99% | |
59 Neutral | ₹22.15B | 46.52 | ― | 0.19% | 10.61% | 43.88% | |
58 Neutral | ₹83.81B | 30.41 | ― | 0.45% | 18.13% | 52.87% | |
55 Neutral | ₹33.14B | 63.47 | ― | 4.00% | 3.06% | -1.48% | |
52 Neutral | ₹21.34B | -12.17 | ― | 0.33% | 3.34% | -112.79% | |
44 Neutral | ₹12.96B | -3.63 | ― | ― | 32.54% | 19.65% |
* Basic Materials Sector Average
IN:HEIDELBERG
Heidelbergcement India Limited.
146.25
-33.77
-18.76%
IN:MANGLMCEM
Mangalam Cement Ltd
805.65
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4.19%
IN:ORIENTCEM
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132.05
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IN:SAGCEM
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163.30
-26.25
-13.85%
IN:SANGHIIND
Sanghi Industries Limited
50.15
-8.33
-14.24%
IN:STARCEMENT
Star Cement Ltd.
207.35
-8.65
-4.00%
Heidelbergcement India Limited. Corporate Events
HeidelbergCement India Faces IGST Demand, Sees No Material Impact
Mar 29, 2026
HeidelbergCement India Limited has disclosed that it received an order from the Assistant Commissioner of CGST Division Damoh, imposing Integrated GST of Rs 1.41 crore along with an equivalent penalty and applicable interest. The order, issued und...
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.