HEIDELBERG

HeidelbergCement India Limited

HeidelbergCement India Limited (HEIDELBERG) financial statements and selected valuation metrics through 30 June 2026.

Commodities›Construction Materials›Cement & Cement Products›Cement & Cement Products

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Key metrics

Price as of 2026-10-16

Stock price
₹125.42
Market cap
2,838 Cr
Stock P/E
24.4
P/B
2.07
Dividend yield
5.6%
ROE (FY26)
9.8%
ROCE (FY26)
14.7%
Operating margin (FY26)
7.6%
Debt / equity (FY26)
0.00
OCF / EBITDA (FY26)
69.0%
OCF / EBITDA (3Y)
96.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

HeidelbergCement India makes and sells cement in central India, mostly blended cement, to dealers and retail buyers and to bulk business customers.

Company snapshot

16thBy market cap

Ranked among 32 companies in Cement & Cement Products.

What we see

Positives
  • ✓96% of operating profit came in as cash over the last three years — profits are backed by real cash.
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Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales566 Cr607 Cr597 Cr532 Cr461 Cr543 Cr612 Cr598 Cr512 Cr574 Cr646 Cr628 Cr
Operating expenses (approx.)497 Cr542 Cr508 Cr454 Cr424 Cr510 Cr522 Cr509 Cr454 Cr521 Cr558 Cr561 Cr
EBITDA69 Cr65 Cr89 Cr78 Cr37 Cr33 Cr91 Cr89 Cr58 Cr53 Cr88 Cr67 Cr
OPM %12.3%10.8%14.9%14.7%8.1%6.1%14.8%14.8%11.2%9.2%13.6%10.6%
Other income14 Cr13 Cr14 Cr12 Cr13 Cr9 Cr11 Cr9 Cr9 Cr6 Cr7 Cr6 Cr
Interest9 Cr8 Cr9 Cr9 Cr9 Cr7 Cr5 Cr6 Cr6 Cr4 Cr1 Cr3 Cr
Depreciation27 Cr27 Cr28 Cr28 Cr26 Cr28 Cr27 Cr27 Cr27 Cr28 Cr27 Cr29 Cr
Profit before tax48 Cr43 Cr66 Cr53 Cr15 Cr8 Cr70 Cr65 Cr33 Cr22 Cr63 Cr41 Cr
Tax %25.8%26.2%26.8%25.4%26.4%31.3%27.5%25.3%25.5%30.6%28.5%25.4%
Net profit36 Cr31 Cr48 Cr40 Cr11 Cr5 Cr50 Cr48 Cr25 Cr16 Cr45 Cr31 Cr
EPS (₹)₹1.58₹1.39₹2.13₹1.76₹0.49₹0.23₹2.23₹2.13₹1.10₹0.69₹2.00₹1.35

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,002 Cr1,962 Cr2,133 Cr2,170 Cr2,117 Cr2,297 Cr2,238 Cr2,366 Cr2,149 Cr2,330 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,723 Cr1,599 Cr1,650 Cr1,642 Cr1,610 Cr1,862 Cr1,989 Cr2,049 Cr1,909 Cr2,043 CrSign in free for the trailing twelve months
EBITDA279 Cr363 Cr483 Cr528 Cr507 Cr435 Cr249 Cr317 Cr239 Cr287 CrSign in free for the trailing twelve months
OPM %13.9%18.5%22.7%24.3%23.9%18.9%11.1%13.4%11.1%12.3%Sign in free for the trailing twelve months
Other income24 Cr20 Cr35 Cr53 Cr46 Cr49 Cr45 Cr55 Cr45 Cr32 CrSign in free for the trailing twelve months
Interest90 Cr74 Cr75 Cr74 Cr51 Cr36 Cr46 Cr35 Cr29 Cr18 CrSign in free for the trailing twelve months
Depreciation99 Cr101 Cr102 Cr109 Cr111 Cr112 Cr112 Cr110 Cr110 Cr109 CrSign in free for the trailing twelve months
Profit before tax114 Cr208 Cr342 Cr398 Cr391 Cr335 Cr136 Cr227 Cr146 Cr184 CrSign in free for the trailing twelve months
Tax %32.9%35.9%35.4%32.7%19.5%24.7%27.0%26.0%26.8%27.1%Sign in free for the trailing twelve months
Net profit76 Cr133 Cr221 Cr268 Cr315 Cr252 Cr99 Cr168 Cr107 Cr134 CrSign in free for the trailing twelve months
EPS (₹)₹3.36₹5.88₹9.74₹11.83₹13.90₹11.13₹4.38₹7.40₹4.71₹5.91Sign in free for the trailing twelve months
Dividend payout %————43.0%71.6%205.0%94.1%169.2%118.4%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital227 Cr227 Cr227 Cr227 Cr227 Cr227 Cr227 Cr227 Cr227 Cr227 Cr
Reserves740 Cr820 Cr945 Cr1,088 Cr1,267 Cr1,339 Cr1,235 Cr1,243 Cr1,169 Cr1,145 Cr
Borrowings575 Cr469 Cr392 Cr280 Cr174 Cr190 Cr174 Cr125 Cr65 Cr—
Other liabilities866 Cr1,017 Cr1,133 Cr1,198 Cr1,177 Cr1,068 Cr1,029 Cr1,066 Cr1,082 Cr1,066 Cr
Total liabilities2,408 Cr2,533 Cr2,696 Cr2,793 Cr2,845 Cr2,824 Cr2,665 Cr2,661 Cr2,542 Cr2,438 Cr
Fixed assets (net)1,874 Cr1,804 Cr1,736 Cr1,681 Cr1,607 Cr1,553 Cr1,482 Cr1,397 Cr1,335 Cr1,377 Cr
CWIP6 Cr8 Cr17 Cr16 Cr19 Cr27 Cr6 Cr28 Cr110 Cr10 Cr
Investments——0 Cr0 Cr0 Cr5 Cr5 Cr14 Cr20 Cr20 Cr
Loans & advances——15 Cr0 Cr0 Cr150 Cr0 Cr0 Cr0 Cr0 Cr
Inventories140 Cr127 Cr167 Cr146 Cr161 Cr173 Cr175 Cr176 Cr171 Cr159 Cr
Trade receivables13 Cr19 Cr25 Cr26 Cr33 Cr40 Cr31 Cr55 Cr57 Cr60 Cr
Cash & bank14 Cr212 Cr337 Cr470 Cr430 Cr369 Cr473 Cr533 Cr454 Cr67 Cr
Other assets361 Cr362 Cr398 Cr455 Cr595 Cr507 Cr493 Cr459 Cr394 Cr744 Cr
Total assets2,408 Cr2,533 Cr2,696 Cr2,793 Cr2,845 Cr2,824 Cr2,665 Cr2,661 Cr2,542 Cr2,438 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity361 Cr385 Cr393 Cr457 Cr439 Cr302 Cr226 Cr350 Cr265 Cr198 Cr
Cash from investing-40 Cr-14 Cr-26 Cr-14 Cr-173 Cr-35 Cr144 Cr-48 Cr-73 Cr-341 Cr
Cash from financing-315 Cr-173 Cr-242 Cr-312 Cr-304 Cr-328 Cr-267 Cr-242 Cr-271 Cr-244 Cr
Net cash flow6 Cr198 Cr125 Cr131 Cr-38 Cr-61 Cr104 Cr60 Cr-79 Cr-386 Cr
Free cash flow (OCF − Capex)314 Cr361 Cr350 Cr414 Cr391 Cr255 Cr199 Cr276 Cr155 Cr146 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %13.2%18.6%26.6%29.6%26.5%21.2%11.1%16.4%12.0%14.7%
ROE %7.9%12.7%18.8%20.4%21.1%16.1%6.8%11.4%7.7%9.8%
Debtor days23446658109
Inventory days156130156139159140154148153132
Days payable214231258246267214231262265256
Cash conversion cycle-56-98-98-103-103-68-72-105-102-115
OCF / EBITDA %129.6%105.8%81.3%86.6%86.7%69.5%90.9%110.4%110.5%69.0%
OCF / EBITDA % (3 years)——101.2%89.8%85.0%81.6%81.3%87.7%104.4%96.3%
Debt / equity0.590.450.330.210.120.120.120.090.050.00
Current ratio0.620.770.971.101.091.421.311.251.091.10
Net debt / EBITDA2.010.710.11-0.36-0.50-0.41-1.20-1.29-1.62-0.24