Heidelberg Cement India Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: April 3, 2025, 1:23 am

Market Cap	4,491 Cr.
Current Price	198
High / Low	258/187
Stock P/E	43.0
Book Value	59.1
Dividend Yield	4.04 %
ROCE	16.1 %
ROE	11.4 %
Face Value	10.0
PEG Ratio	-2.17

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Heidelberg Cement India Ltd

Competitors of Heidelberg Cement India Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Bheema Cements Ltd	52.7 Cr.	16.2	35.3/16.2		13.2	0.00 %	11.8 %	56.4 %	10.0
UltraTech Cement Ltd	3,31,607 Cr.	11,251	12,145/9,250	52.9	2,126	0.62 %	15.1 %	12.2 %	10.0
The Ramco Cements Ltd	21,666 Cr.	917	1,060/700	114	302	0.27 %	8.17 %	5.63 %	1.00
The India Cements Ltd	8,690 Cr.	280	386/173		170	0.00 %	0.78 %	4.81 %	10.0
Star Cement Ltd	8,704 Cr.	215	256/172	65.3	67.9	0.00 %	16.5 %	11.5 %	1.00
Industry Average	36,531.81 Cr	1,985.43		47.31	529.57	0.66%	11.18%	15.93%	7.13

All Competitor Stocks of Heidelberg Cement India Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	544.52	620.03	589.89	506.05	540.12	602.04	595.64	566.46	607.13	596.55	532.19	461.41	542.82
Expenses	476.08	501.47	494.84	458.47	503.04	532.90	502.76	496.97	541.67	507.66	454.15	423.95	509.54
Operating Profit	68.44	118.56	95.05	47.58	37.08	69.14	92.88	69.49	65.46	88.89	78.04	37.46	33.28
OPM %	12.57%	19.12%	16.11%	9.40%	6.87%	11.48%	15.59%	12.27%	10.78%	14.90%	14.66%	8.12%	6.13%
Other Income	12.29	12.41	10.26	11.01	10.55	13.47	13.38	14.26	13.08	13.80	12.13	12.77	9.36
Interest	9.88	5.17	8.00	20.66	10.89	6.51	9.14	8.59	8.49	8.54	8.56	8.53	7.15
Depreciation	28.32	27.96	28.00	28.13	28.74	27.44	27.00	26.91	27.42	28.34	28.14	26.47	27.94
Profit before tax	42.53	97.84	69.31	9.80	8.00	48.66	70.12	48.25	42.63	65.81	53.47	15.23	7.55
Tax %	28.43%	4.32%	25.54%	28.47%	30.25%	28.13%	25.39%	25.80%	26.18%	26.82%	25.38%	26.40%	31.26%
Net Profit	30.44	93.61	51.61	7.01	5.58	34.97	52.32	35.80	31.47	48.16	39.90	11.21	5.19
EPS in Rs	1.34	4.13	2.28	0.31	0.25	1.54	2.31	1.58	1.39	2.13	1.76	0.49	0.23

Last Updated: February 28, 2025, 7:34 pm

Below is a detailed analysis of the quarterly data for Heidelberg Cement India Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is ₹542.82 Cr.. The value appears strong and on an upward trend. It has increased from 461.41 Cr. (Sep 2024) to ₹542.82 Cr., marking an increase of 81.41 Cr..
For Expenses, as of Dec 2024, the value is ₹509.54 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 423.95 Cr. (Sep 2024) to ₹509.54 Cr., marking an increase of 85.59 Cr..
For Operating Profit, as of Dec 2024, the value is ₹33.28 Cr.. The value appears to be declining and may need further review. It has decreased from 37.46 Cr. (Sep 2024) to ₹33.28 Cr., marking a decrease of 4.18 Cr..
For OPM %, as of Dec 2024, the value is 6.13%. The value appears to be declining and may need further review. It has decreased from 8.12% (Sep 2024) to 6.13%, marking a decrease of 1.99%.
For Other Income, as of Dec 2024, the value is ₹9.36 Cr.. The value appears to be declining and may need further review. It has decreased from 12.77 Cr. (Sep 2024) to ₹9.36 Cr., marking a decrease of 3.41 Cr..
For Interest, as of Dec 2024, the value is ₹7.15 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 8.53 Cr. (Sep 2024) to ₹7.15 Cr., marking a decrease of 1.38 Cr..
For Depreciation, as of Dec 2024, the value is ₹27.94 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 26.47 Cr. (Sep 2024) to ₹27.94 Cr., marking an increase of 1.47 Cr..
For Profit before tax, as of Dec 2024, the value is ₹7.55 Cr.. The value appears to be declining and may need further review. It has decreased from 15.23 Cr. (Sep 2024) to ₹7.55 Cr., marking a decrease of 7.68 Cr..
For Tax %, as of Dec 2024, the value is 31.26%. The value appears to be increasing, which may not be favorable. It has increased from 26.40% (Sep 2024) to 31.26%, marking an increase of 4.86%.
For Net Profit, as of Dec 2024, the value is ₹5.19 Cr.. The value appears to be declining and may need further review. It has decreased from 11.21 Cr. (Sep 2024) to ₹5.19 Cr., marking a decrease of 6.02 Cr..
For EPS in Rs, as of Dec 2024, the value is 0.23. The value appears to be declining and may need further review. It has decreased from 0.49 (Sep 2024) to 0.23, marking a decrease of 0.26.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 7, 2025, 8:10 pm

Metric	Dec 2012	Dec 2013	Mar 2015n n 15m	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	870	1,209	2,044	1,648	1,717	1,889	2,133	2,170	2,117	2,297	2,238	2,366	2,133
Expenses	807	1,107	1,783	1,417	1,439	1,526	1,650	1,642	1,610	1,862	1,989	2,049	1,895
Operating Profit	63	102	261	231	279	363	483	528	507	435	249	317	238
OPM %	7%	8%	13%	14%	16%	19%	23%	24%	24%	19%	11%	13%	11%
Other Income	16	12	135	22	24	20	35	53	46	49	45	55	48
Interest	10	106	139	108	90	74	75	74	51	36	46	35	33
Depreciation	24	89	138	100	99	101	102	109	111	112	112	110	111
Profit before tax	46	-81	120	45	114	208	342	398	391	335	136	227	142
Tax %	32%	-50%	50%	22%	33%	36%	35%	33%	20%	25%	27%	26%
Net Profit	31	-41	60	35	76	133	221	268	315	252	99	168	104
EPS in Rs	1.36	-1.80	2.63	1.56	3.36	5.88	9.74	11.83	13.90	11.13	4.38	7.40	4.61
Dividend Payout %	0%	0%	0%	0%	59%	43%	41%	63%	58%	81%	160%	108%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	117.14%	75.00%	66.17%	21.27%	17.54%	-20.00%	-60.71%	69.70%
Change in YoY Net Profit Growth (%)	0.00%	-42.14%	-8.83%	-44.90%	-3.73%	-37.54%	-40.71%	130.41%

Heidelberg Cement India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2016-2017 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	7%
5 Years:	2%
3 Years:	4%
TTM:	-10%

Compounded Profit Growth
10 Years:	20%
5 Years:	-5%
3 Years:	-19%
TTM:	-32%

Stock Price CAGR
10 Years:	10%
5 Years:	8%
3 Years:	-1%
1 Year:	-2%

Return on Equity
10 Years:	13%
5 Years:	15%
3 Years:	12%
Last Year:	11%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 11:36 pm

Month	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	227	227	227	227	227	227	227	227	227	227	227	227	227
Reserves	620	607	645	668	740	820	945	1,088	1,267	1,339	1,235	1,243	1,113
Borrowings	1,031	1,357	1,299	1,039	705	619	517	413	306	199	182	137	143
Other Liabilities	578	568	650	681	735	867	1,008	1,065	1,045	1,060	1,022	1,054	1,068
Total Liabilities	2,455	2,759	2,820	2,615	2,408	2,533	2,696	2,793	2,845	2,824	2,665	2,661	2,551
Fixed Assets	374	1,787	1,794	1,901	1,877	1,806	1,737	1,693	1,618	1,562	1,490	1,410	1,366
CWIP	1,517	167	127	56	6	8	17	16	19	27	6	28	92
Investments	0	0	0	0	0	0	0	0	0	5	5	14	14
Other Assets	564	804	899	657	524	719	941	1,084	1,208	1,230	1,164	1,209	1,078
Total Assets	2,455	2,759	2,820	2,615	2,408	2,533	2,696	2,793	2,845	2,824	2,665	2,661	2,551

Below is a detailed analysis of the balance sheet data for Heidelberg Cement India Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹227.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 227.00 Cr..
For Reserves, as of Sep 2024, the value is ₹1,113.00 Cr.. The value appears to be declining and may need further review. It has decreased from 1,243.00 Cr. (Mar 2024) to ₹1,113.00 Cr., marking a decrease of 130.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹143.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 137.00 Cr. (Mar 2024) to ₹143.00 Cr., marking an increase of 6.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹1,068.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,054.00 Cr. (Mar 2024) to ₹1,068.00 Cr., marking an increase of 14.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹2,551.00 Cr.. The value appears to be improving (decreasing). It has decreased from 2,661.00 Cr. (Mar 2024) to ₹2,551.00 Cr., marking a decrease of 110.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹1,366.00 Cr.. The value appears to be declining and may need further review. It has decreased from 1,410.00 Cr. (Mar 2024) to ₹1,366.00 Cr., marking a decrease of 44.00 Cr..
For CWIP, as of Sep 2024, the value is ₹92.00 Cr.. The value appears strong and on an upward trend. It has increased from 28.00 Cr. (Mar 2024) to ₹92.00 Cr., marking an increase of 64.00 Cr..
For Investments, as of Sep 2024, the value is ₹14.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 14.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹1,078.00 Cr.. The value appears to be declining and may need further review. It has decreased from 1,209.00 Cr. (Mar 2024) to ₹1,078.00 Cr., marking a decrease of 131.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹2,551.00 Cr.. The value appears to be declining and may need further review. It has decreased from 2,661.00 Cr. (Mar 2024) to ₹2,551.00 Cr., marking a decrease of 110.00 Cr..

Notably, the Reserves (₹1,113.00 Cr.) exceed the Borrowings (143.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	50	119	238	257	361	377	393	459	439	302	226	350
Cash from Investing Activity +	-431	-195	6	-108	-40	-14	-26	-14	-173	-35	144	-48
Cash from Financing Activity +	144	117	-212	-287	-315	-165	-242	-314	-304	-328	-267	-242
Net Cash Flow	-238	41	32	-138	6	198	125	131	-38	-61	104	60

Free Cash Flow

Month	Dec 2012	Dec 2013	Mar 2015n n 15m	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	62.00	101.00	261.00	230.00	-426.00	-256.00	-34.00	115.00	201.00	236.00	67.00	180.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	9	9	3	6	3	4	4	4	6	6	5	8
Inventory Days	370	288	168	195	141	125	158	137	157	147	160	139
Days Payable	333	276	168	204	194	223	262	243	265	225	239	245
Cash Conversion Cycle	46	22	3	-3	-50	-95	-100	-101	-102	-71	-75	-98
Working Capital Days	-52	-25	-62	-77	-36	-79	-62	-63	-40	0	-27	-38
ROCE %	2%	1%	9%	7%	11%	17%	25%	28%	25%	21%	11%	16%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	69.39%	69.39%	69.39%	69.39%	69.39%	69.39%	69.39%	69.39%	69.39%	69.39%	69.39%	69.39%
FIIs	5.45%	6.40%	5.16%	4.81%	4.76%	4.73%	3.91%	4.33%	4.48%	4.42%	3.13%	2.31%
DIIs	10.65%	10.04%	9.72%	10.12%	10.32%	9.04%	8.97%	10.01%	10.82%	10.81%	11.89%	12.67%
Government	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%
Public	14.36%	14.03%	15.59%	15.53%	15.38%	16.70%	17.58%	16.12%	15.16%	15.25%	15.43%	15.49%
No. of Shareholders	1,03,076	1,00,827	1,02,639	1,02,580	1,02,721	1,02,999	1,02,650	91,101	89,345	89,805	92,039	87,647

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Axis Small Cap Fund	5,040,690	0.49	116.45	1,129,090	2025-04-02	346.44%
ICICI Prudential Smallcap Fund	2,499,622	0.66	57.74	1,129,090	2025-04-02	121.38%
SBI Long Term Equity Fund	1,844,489	0.15	42.61	1,129,090	2025-04-02	63.36%
ICICI Prudential Dividend Yield Equity Fund	1,727,506	0.82	39.91	1,129,090	2025-04-02	53%
SBI Multi Asset Allocation Fund	1,300,000	0.5	30.11	1,129,090	2025-04-02	15.14%
ICICI Prudential Infrastructure Fund	1,286,961	0.48	29.73	1,129,090	2025-04-02	13.98%
ICICI Prudential Multi Asset Fund	1,216,705	0.06	28.11	1,129,090	2025-04-02	7.76%
Aditya Birla Sun Life MNC Fund - Div	1,129,090	0.64	26.08	1,129,090	2025-04-02	0%
Aditya Birla Sun Life MNC Fund - Gr	1,129,090	0.64	26.08	1,129,090	2025-04-02	0%
ICICI Prudential Manufacturing Fund	106,764	0.04	2.47	1,129,090	2025-04-02	-90.54%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	7.40	4.38	11.13	13.90	11.83
Diluted EPS (Rs.)	7.40	4.38	11.13	13.90	11.83
Cash EPS (Rs.)	12.24	9.33	16.07	18.80	16.62
Book Value[Excl.RevalReserv]/Share (Rs.)	64.86	64.49	69.07	65.92	58.01
Book Value[Incl.RevalReserv]/Share (Rs.)	64.86	64.49	69.07	65.92	58.01
Dividend / Share (Rs.)	8.00	7.00	9.00	8.00	7.50
Revenue From Operations / Share (Rs.)	104.39	98.76	101.36	93.40	95.74
PBDIT / Share (Rs.)	16.38	12.98	21.34	24.41	25.62
PBIT / Share (Rs.)	11.54	8.02	16.40	19.51	20.82
PBT / Share (Rs.)	10.01	5.99	14.79	17.26	17.57
Net Profit / Share (Rs.)	7.40	4.38	11.13	13.90	11.83
PBDIT Margin (%)	15.69	13.14	21.05	26.13	26.75
PBIT Margin (%)	11.05	8.12	16.17	20.88	21.75
PBT Margin (%)	9.58	6.06	14.59	18.48	18.34
Net Profit Margin (%)	7.09	4.43	10.98	14.87	12.35
Return on Networth / Equity (%)	11.41	6.78	16.11	21.08	20.39
Return on Capital Employeed (%)	14.89	10.02	18.69	22.93	25.31
Return On Assets (%)	6.30	3.72	8.93	11.06	9.59
Long Term Debt / Equity (X)	0.03	0.07	0.10	0.11	0.21
Total Debt / Equity (X)	0.08	0.11	0.12	0.19	0.21
Asset Turnover Ratio (%)	0.88	0.81	0.81	0.75	0.79
Current Ratio (X)	1.26	1.31	1.42	1.09	1.10
Quick Ratio (X)	1.07	1.10	1.21	0.91	0.94
Inventory Turnover Ratio (X)	2.47	2.37	2.70	2.41	2.45
Dividend Payout Ratio (NP) (%)	94.56	205.65	71.86	43.17	38.04
Dividend Payout Ratio (CP) (%)	57.18	96.43	49.76	31.91	27.07
Earning Retention Ratio (%)	5.44	-105.65	28.14	56.83	61.96
Cash Earning Retention Ratio (%)	42.82	3.57	50.24	68.09	72.93
Interest Coverage Ratio (X)	10.68	6.39	13.27	10.88	7.86
Interest Coverage Ratio (Post Tax) (X)	5.83	3.15	7.92	7.19	4.63
Enterprise Value (Cr.)	4015.47	3322.47	4101.41	5144.22	3029.71
EV / Net Operating Revenue (X)	1.70	1.48	1.79	2.43	1.40
EV / EBITDA (X)	10.82	11.30	8.48	9.30	5.22
MarketCap / Net Operating Revenue (X)	1.88	1.63	1.87	2.50	1.48
Retention Ratios (%)	5.43	-105.65	28.13	56.82	61.95
Price / BV (X)	3.02	2.49	2.74	3.54	2.45
Price / Net Operating Revenue (X)	1.88	1.63	1.87	2.50	1.48
EarningsYield	0.03	0.02	0.05	0.05	0.08

After reviewing the key financial ratios for Heidelberg Cement India Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 24, the value is 7.40. This value is within the healthy range. It has increased from 4.38 (Mar 23) to 7.40, marking an increase of 3.02.
For Diluted EPS (Rs.), as of Mar 24, the value is 7.40. This value is within the healthy range. It has increased from 4.38 (Mar 23) to 7.40, marking an increase of 3.02.
For Cash EPS (Rs.), as of Mar 24, the value is 12.24. This value is within the healthy range. It has increased from 9.33 (Mar 23) to 12.24, marking an increase of 2.91.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 64.86. It has increased from 64.49 (Mar 23) to 64.86, marking an increase of 0.37.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 64.86. It has increased from 64.49 (Mar 23) to 64.86, marking an increase of 0.37.
For Dividend / Share (Rs.), as of Mar 24, the value is 8.00. This value exceeds the healthy maximum of 3. It has increased from 7.00 (Mar 23) to 8.00, marking an increase of 1.00.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 104.39. It has increased from 98.76 (Mar 23) to 104.39, marking an increase of 5.63.
For PBDIT / Share (Rs.), as of Mar 24, the value is 16.38. This value is within the healthy range. It has increased from 12.98 (Mar 23) to 16.38, marking an increase of 3.40.
For PBIT / Share (Rs.), as of Mar 24, the value is 11.54. This value is within the healthy range. It has increased from 8.02 (Mar 23) to 11.54, marking an increase of 3.52.
For PBT / Share (Rs.), as of Mar 24, the value is 10.01. This value is within the healthy range. It has increased from 5.99 (Mar 23) to 10.01, marking an increase of 4.02.
For Net Profit / Share (Rs.), as of Mar 24, the value is 7.40. This value is within the healthy range. It has increased from 4.38 (Mar 23) to 7.40, marking an increase of 3.02.
For PBDIT Margin (%), as of Mar 24, the value is 15.69. This value is within the healthy range. It has increased from 13.14 (Mar 23) to 15.69, marking an increase of 2.55.
For PBIT Margin (%), as of Mar 24, the value is 11.05. This value is within the healthy range. It has increased from 8.12 (Mar 23) to 11.05, marking an increase of 2.93.
For PBT Margin (%), as of Mar 24, the value is 9.58. This value is below the healthy minimum of 10. It has increased from 6.06 (Mar 23) to 9.58, marking an increase of 3.52.
For Net Profit Margin (%), as of Mar 24, the value is 7.09. This value is within the healthy range. It has increased from 4.43 (Mar 23) to 7.09, marking an increase of 2.66.
For Return on Networth / Equity (%), as of Mar 24, the value is 11.41. This value is below the healthy minimum of 15. It has increased from 6.78 (Mar 23) to 11.41, marking an increase of 4.63.
For Return on Capital Employeed (%), as of Mar 24, the value is 14.89. This value is within the healthy range. It has increased from 10.02 (Mar 23) to 14.89, marking an increase of 4.87.
For Return On Assets (%), as of Mar 24, the value is 6.30. This value is within the healthy range. It has increased from 3.72 (Mar 23) to 6.30, marking an increase of 2.58.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.03. This value is below the healthy minimum of 0.2. It has decreased from 0.07 (Mar 23) to 0.03, marking a decrease of 0.04.
For Total Debt / Equity (X), as of Mar 24, the value is 0.08. This value is within the healthy range. It has decreased from 0.11 (Mar 23) to 0.08, marking a decrease of 0.03.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.88. It has increased from 0.81 (Mar 23) to 0.88, marking an increase of 0.07.
For Current Ratio (X), as of Mar 24, the value is 1.26. This value is below the healthy minimum of 1.5. It has decreased from 1.31 (Mar 23) to 1.26, marking a decrease of 0.05.
For Quick Ratio (X), as of Mar 24, the value is 1.07. This value is within the healthy range. It has decreased from 1.10 (Mar 23) to 1.07, marking a decrease of 0.03.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 2.47. This value is below the healthy minimum of 4. It has increased from 2.37 (Mar 23) to 2.47, marking an increase of 0.10.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 94.56. This value exceeds the healthy maximum of 50. It has decreased from 205.65 (Mar 23) to 94.56, marking a decrease of 111.09.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 57.18. This value exceeds the healthy maximum of 50. It has decreased from 96.43 (Mar 23) to 57.18, marking a decrease of 39.25.
For Earning Retention Ratio (%), as of Mar 24, the value is 5.44. This value is below the healthy minimum of 40. It has increased from -105.65 (Mar 23) to 5.44, marking an increase of 111.09.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 42.82. This value is within the healthy range. It has increased from 3.57 (Mar 23) to 42.82, marking an increase of 39.25.
For Interest Coverage Ratio (X), as of Mar 24, the value is 10.68. This value is within the healthy range. It has increased from 6.39 (Mar 23) to 10.68, marking an increase of 4.29.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 5.83. This value is within the healthy range. It has increased from 3.15 (Mar 23) to 5.83, marking an increase of 2.68.
For Enterprise Value (Cr.), as of Mar 24, the value is 4,015.47. It has increased from 3,322.47 (Mar 23) to 4,015.47, marking an increase of 693.00.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 1.70. This value is within the healthy range. It has increased from 1.48 (Mar 23) to 1.70, marking an increase of 0.22.
For EV / EBITDA (X), as of Mar 24, the value is 10.82. This value is within the healthy range. It has decreased from 11.30 (Mar 23) to 10.82, marking a decrease of 0.48.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 1.88. This value is within the healthy range. It has increased from 1.63 (Mar 23) to 1.88, marking an increase of 0.25.
For Retention Ratios (%), as of Mar 24, the value is 5.43. This value is below the healthy minimum of 30. It has increased from -105.65 (Mar 23) to 5.43, marking an increase of 111.08.
For Price / BV (X), as of Mar 24, the value is 3.02. This value exceeds the healthy maximum of 3. It has increased from 2.49 (Mar 23) to 3.02, marking an increase of 0.53.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 1.88. This value is within the healthy range. It has increased from 1.63 (Mar 23) to 1.88, marking an increase of 0.25.
For EarningsYield, as of Mar 24, the value is 0.03. This value is below the healthy minimum of 5. It has increased from 0.02 (Mar 23) to 0.03, marking an increase of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Heidelberg Cement India Ltd as of April 4, 2025 is: 241.13

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of April 4, 2025, Heidelberg Cement India Ltd is Undervalued by 21.78% compared to the current share price 198.00

Intrinsic Value of Heidelberg Cement India Ltd as of April 4, 2025 is: 193.37

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of April 4, 2025, Heidelberg Cement India Ltd is Overvalued by 2.34% compared to the current share price 198.00

Last 5 Year EPS CAGR: -19.81%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a low average Working Capital Days of -46.75, which is a positive sign. The stock has a low average Cash Conversion Cycle of -52.00, which is a positive sign. The company has higher reserves (948.46 cr) compared to borrowings (611.31 cr), indicating strong financial stability. The company has shown consistent growth in sales (68.46 cr) and profit (186.38 cr) over the years.	The stock has a low average ROCE of 14.42%, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Heidelberg Cement India Ltd:
1. Net Profit Margin: 7.09%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 14.89% (Industry Average ROCE: 11.18%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 11.41% (Industry Average ROE: 15.93%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 5.83
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.07
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 43 (Industry average Stock P/E: 47.31)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.08
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Heidelberg Cement India Ltd. is a Public Limited Listed company incorporated on 13/05/1958 and has its registered office in the State of Haryana, India. Company's Corporate Identification Number(CIN) is L26942HR1958FLC042301 and registration number is 042301. Currently Company is involved in the business activities of Manufacture of clinkers and cement. Company's Total Operating Revenue is Rs. 2365.78 Cr. and Equity Capital is Rs. 226.62 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Cement	2 Floor, Block - B, DLF Cyber Greens, Gurgaon Haryana 122002	investors.mcl@mycem.in http://www.mycemco.com

Management
Name	Position Held
Ms. Jyoti Narang	Chairperson & Independent Director
Mr. Joydeep Mukherjee	Managing Director
Mr. Vimal Kumar Jain	Whole Time Director
Ms. Soek Peng Sim	Non Executive Director
Mr. Roberto Callieri	Non Executive Director
Mr. Atul Khosla	Independent Director

FAQ

What is the intrinsic value of Heidelberg Cement India Ltd?

Heidelberg Cement India Ltd's intrinsic value (as of 04 April 2025) is ₹241.13 — 21.78% higher the current market price of ₹198.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's 4,491 Cr. market cap, FY2025-2026 high/low of ₹258/187, reserves of 1,113 Cr, and liabilities of 2,551 Cr.

What is the Market Cap of Heidelberg Cement India Ltd?

The Market Cap of Heidelberg Cement India Ltd is 4,491 Cr..

What is the current Stock Price of Heidelberg Cement India Ltd as on 04 April 2025?

The current stock price of Heidelberg Cement India Ltd as on 04 April 2025 is 198.

What is the High / Low of Heidelberg Cement India Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Heidelberg Cement India Ltd stocks is ₹258/187.

What is the Stock P/E of Heidelberg Cement India Ltd?

The Stock P/E of Heidelberg Cement India Ltd is 43.0.

What is the Book Value of Heidelberg Cement India Ltd?

The Book Value of Heidelberg Cement India Ltd is 59.1.

What is the Dividend Yield of Heidelberg Cement India Ltd?

The Dividend Yield of Heidelberg Cement India Ltd is 4.04 %.

What is the ROCE of Heidelberg Cement India Ltd?

The ROCE of Heidelberg Cement India Ltd is 16.1 %.

What is the ROE of Heidelberg Cement India Ltd?

The ROE of Heidelberg Cement India Ltd is 11.4 %.

What is the Face Value of Heidelberg Cement India Ltd?

The Face Value of Heidelberg Cement India Ltd is 10.0.