Fundamental Analysis of Heidelberg Cement India Ltd

About the Company - Heidelberg Cement India Ltd

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. 2296.96 Cr. and Equity Capital is Rs. 226.62 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Cement	2nd Floor, Gurgaon Haryana 122002	investors.mcl@mycem.in http://www.mycemco.com

Management
Name	Position Held
Mr. Ramakrishnan Ramamurthy	Chairman & Ind.Director
Mr. Joydeep Mukherjee	Managing Director
Ms. Soek Peng Sim	Non Executive Director
Mr. Kevin Gerard Gluskie	Non Executive Director
Mr. Vimal Kumar Jain	Whole Time Director
Ms. Jyoti Narang	Independent Director

Basic Stock Data of Heidelberg Cement India Ltd

Last Updated: July 26, 2024, 10:36 pm

Market Cap	5,310 Cr.
Current Price	234
High / Low	247/174
Stock P/E	31.6
Book Value	64.9
Dividend Yield	3.42 %
ROCE	16.1 %
ROE	11.4 %
Face Value	10.0
PEG Ratio	-2.32

Data Source: screener.in

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	88.6 Cr.	27.2	37.7/21.0		13.2	0.00 %	11.8 %	56.4 %	10.0
UltraTech Cement Ltd	3,36,780 Cr.	11,673	12,078/7,941	47.9	2,086	0.60 %	15.1 %	12.2 %	10.0
The Ramco Cements Ltd	19,584 Cr.	828	1,058/700	55.7	302	0.30 %	8.17 %	5.63 %	1.00
The India Cements Ltd	11,595 Cr.	374	377/173		180	0.00 %	0.73 %	4.72 %	10.0
Star Cement Ltd	8,479 Cr.	210	256/141	28.7	67.0	0.00 %	16.4 %	11.5 %	1.00
Industry Average	31,570.04 Cr	2,000.01		30.87	492.19	0.40%	12.70%	17.11%	7.41

Heidelberg Cement India Ltd Quarterly Results

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	595	600	556	576	545	620	590	506	540	602	596	566	607
Expenses	475	448	425	460	476	501	495	458	503	533	503	497	542
Operating Profit	120	152	131	116	68	119	95	48	37	69	93	69	65
OPM %	20%	25%	24%	20%	13%	19%	16%	9%	7%	11%	16%	12%	11%
Other Income	12	15	11	14	12	12	10	11	11	13	13	14	13
Interest	12	9	10	11	10	5	8	21	11	7	9	9	8
Depreciation	28	27	28	28	28	28	28	28	29	27	27	27	27
Profit before tax	92	130	104	91	43	98	69	10	8	49	70	48	43
Tax %	31%	-7%	34%	34%	28%	4%	26%	28%	30%	28%	25%	26%	26%
Net Profit	64	140	69	60	30	94	52	7	6	35	52	36	31
EPS in Rs	2.81	6.18	3.03	2.63	1.34	4.13	2.28	0.31	0.25	1.54	2.31	1.58	1.39

Last Updated: July 10, 2024, 5:47 pm

Heidelberg Cement India Ltd Quarterly Chart

Heidelberg Cement India Ltd Profit & Loss

Last Updated: July 10, 2024, 5:47 pm

Month	Dec 2011	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	988	870	1,209	2,044	1,648	1,717	1,889	2,133	2,170	2,117	2,297	2,238	2,304
Expenses	922	807	1,107	1,783	1,417	1,439	1,526	1,650	1,642	1,610	1,862	1,989	2,036
Operating Profit	66	63	102	261	231	279	363	483	528	507	435	249	269
OPM %	7%	7%	8%	13%	14%	16%	19%	23%	24%	24%	19%	11%	12%
Other Income	12	16	12	135	22	24	20	35	53	46	49	45	52
Interest	4	10	106	139	108	90	74	75	74	51	36	46	35
Depreciation	31	24	89	138	100	99	101	102	109	111	112	112	110
Profit before tax	42	46	-81	120	45	114	208	342	398	391	335	136	175
Tax %	31%	32%	50%	50%	22%	33%	36%	35%	33%	20%	25%	27%
Net Profit	29	31	-41	60	35	76	133	221	268	315	252	99	129
EPS in Rs	1.29	1.36	-1.80	2.63	1.56	3.36	5.88	9.74	11.83	13.90	11.13	4.38	5.68
Dividend Payout %	0%	0%	0%	0%	0%	59%	43%	41%	63%	58%	81%	160%

Heidelberg Cement India Ltd Profit & Loss Yearly Chart

Heidelberg Cement India Ltd Growth

Compounded Sales Growth
10 Years:	7%
5 Years:	2%
3 Years:	4%
TTM:	6%

Compounded Profit Growth
10 Years:	20%
5 Years:	-5%
3 Years:	-19%
TTM:	69%

Stock Price CAGR
10 Years:	14%
5 Years:	3%
3 Years:	-4%
1 Year:	33%

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

Last Updated: July 17, 2024, 5:38 pm

Heidelberg Cement India Ltd Balance Sheet

Last Updated: July 10, 2024, 5:47 pm

Month	Dec 2011	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	227	227	227	227	227	227	227	227	227	227	227	227	227
Reserves	589	620	607	645	668	740	820	945	1,088	1,267	1,339	1,235	1,164
Borrowings	777	1,031	1,357	1,299	1,039	705	619	517	413	306	199	182	195
Other Liabilities	563	578	568	650	681	735	867	1,008	1,065	1,045	1,060	1,022	1,048
Total Liabilities	2,156	2,455	2,759	2,820	2,615	2,408	2,533	2,696	2,793	2,845	2,824	2,665	2,634
Fixed Assets	348	374	1,787	1,794	1,901	1,877	1,806	1,737	1,693	1,618	1,562	1,490	1,446
CWIP	1,054	1,517	167	127	56	6	8	17	16	19	27	6	9
Investments	0	0	0	0	0	0	0	0	0	0	5	5	5
Other Assets	754	564	804	899	657	524	719	941	1,084	1,208	1,230	1,164	1,174
Total Assets	2,156	2,455	2,759	2,820	2,615	2,408	2,533	2,696	2,793	2,845	2,824	2,665	2,634

Heidelberg Cement India Ltd Reserves and Borrowings Chart

Heidelberg Cement India Ltd 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

Heidelberg Cement India Ltd Financial Efficiency Indicators

Month	Dec 2011	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	9	9	9	3	6	3	4	4	4	6	6	5
Inventory Days	173	370	288	168	195	141	125	158	137	157	147	160
Days Payable	219	333	276	168	204	194	223	262	243	265	225	239
Cash Conversion Cycle	-38	46	22	3	-3	-50	-95	-100	-101	-102	-71	-75
Working Capital Days	-70	-52	-25	-62	-77	-36	-79	-62	-63	-40	0	-27
ROCE %	4%	2%	1%	9%	7%	11%	17%	25%	28%	25%	21%	11%

Heidelberg Cement India Ltd Financial Efficiency Indicators Chart

Heidelberg Cement India Ltd Share Holding Pattern

Month	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
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	8.87%	6.59%	5.81%	5.47%	5.45%	6.40%	5.16%	4.81%	4.76%	4.73%	3.91%	4.33%
DIIs	7.98%	10.09%	10.94%	10.91%	10.65%	10.04%	9.72%	10.12%	10.32%	9.04%	8.97%	10.01%
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	13.62%	13.79%	13.72%	14.09%	14.36%	14.03%	15.59%	15.53%	15.38%	16.70%	17.58%	16.12%
No. of Shareholders	80,978	88,987	96,958	1,01,586	1,03,076	1,00,827	1,02,639	1,02,580	1,02,721	1,02,999	1,02,650	91,101

Heidelberg Cement India Ltd Shareholding Pattern Chart

No. of Heidelberg Cement India Ltd Shareholders

Heidelberg Cement India Ltd 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	0.54	96.91	456,822	2024-07-24	1003.43%
ICICI Prudential Dividend Yield Equity Fund	1,950,200	1.29	37.49	456,822	2024-07-24	326.91%
SBI Multi Asset Allocation Fund	1,300,000	0.92	24.99	456,822	2024-07-24	184.57%
ICICI Prudential Infrastructure Fund	1,286,961	0.67	24.74	456,822	2024-07-24	181.72%
ICICI Prudential Multi Asset Fund	1,216,705	0.08	23.39	456,822	2024-07-24	166.34%
Aditya Birla Sun Life MNC Fund - Div	1,117,918	0.62	21.49	456,822	2024-07-24	144.72%
Aditya Birla Sun Life MNC Fund - Gr	1,117,918	0.62	21.49	456,822	2024-07-24	144.72%
ICICI Prudential Business Cycle Fund	923,104	0.25	17.75	456,822	2024-07-24	102.07%
ICICI Prudential Smallcap Fund	456,822	0.13	8.78	456,822	2024-07-24	0%
SBI Long Term Equity Fund	290,496	0.03	5.58	456,822	2024-07-24	-36.41%

Heidelberg Cement India Ltd ROCE Trend

Heidelberg Cement India Ltd EPS Trend

Heidelberg Cement India Ltd 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) (%)	0.00	205.65	71.86	43.17	38.04
Dividend Payout Ratio (CP) (%)	0.00	96.43	49.76	31.91	27.07
Earning Retention Ratio (%)	0.00	-105.65	28.14	56.83	61.96
Cash Earning Retention Ratio (%)	0.00	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 (%)	0.00	-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

Heidelberg Cement India Ltd Profitability Ratios (%)

Heidelberg Cement India Ltd Liquidity Ratios

Heidelberg Cement India Ltd Liquidity Ratios (%)

Heidelberg Cement India Ltd Interest Coverage Ratios (%)

Heidelberg Cement India Ltd Valuation Ratios

Fair Value

Fair Value: 241.79

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.

Undervalued: 3.33% compared to the current price 234

Intrinsic Value: 208.79

Calculation basis:

Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Overvalued: 10.77% compared to the current price 234

Last 5 Year EPS CAGR: -13.65%

*Investments are subject to market risks

Strength and Weakness of Heidelberg Cement India Ltd Stock

Strength	Weakness
The stock has a low average Working Capital Days of -49.42, which is a positive sign. The stock has a low average Cash Conversion Cycle of -47.00, which is a positive sign. The company has higher reserves (934.75 cr) compared to borrowings (650.33 cr), indicating strong financial stability. The company has shown consistent growth in sales (144.31 cr) and profit (174.69 cr) over the years.	The stock has a low average ROCE of 13.42%, which may not be favorable.

FAQ

What is the latest fair value of Heidelberg Cement India Ltd?

The latest fair value of Heidelberg Cement India Ltd is ₹241.79.

What is the Market Cap of Heidelberg Cement India Ltd?

The Market Cap of Heidelberg Cement India Ltd is 5,310 Cr..

What is the current Stock Price of Heidelberg Cement India Ltd as on 27 July 2024?

The current stock price of Heidelberg Cement India Ltd as on 27 July 2024 is 234.

What is the High / Low of Heidelberg Cement India Ltd stocks in FY 2024?

In FY 2024, the High / Low of Heidelberg Cement India Ltd stocks is 247/174.

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

The Stock P/E of Heidelberg Cement India Ltd is 31.6.

What is the Book Value of Heidelberg Cement India Ltd?

The Book Value of Heidelberg Cement India Ltd is 64.9.

What is the Dividend Yield of Heidelberg Cement India Ltd?

The Dividend Yield of Heidelberg Cement India Ltd is 3.42 %.

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.

About the Company - Heidelberg Cement India Ltd

Basic Stock Data of Heidelberg Cement India Ltd

Competitors of Heidelberg Cement India Ltd

Heidelberg Cement India Ltd Quarterly Results

Heidelberg Cement India Ltd Quarterly Chart

Heidelberg Cement India Ltd Profit & Loss

Heidelberg Cement India Ltd Profit & Loss Yearly Chart

Heidelberg Cement India Ltd Growth

Heidelberg Cement India Ltd Balance Sheet

Heidelberg Cement India Ltd Reserves and Borrowings Chart

Heidelberg Cement India Ltd Cash Flow

Heidelberg Cement India Ltd Financial Efficiency Indicators

Heidelberg Cement India Ltd Financial Efficiency Indicators Chart

Heidelberg Cement India Ltd Share Holding Pattern

Heidelberg Cement India Ltd Shareholding Pattern Chart

No. of Heidelberg Cement India Ltd Shareholders

Heidelberg Cement India Ltd Mutual Fund Holdings

Heidelberg Cement India Ltd ROCE Trend

Heidelberg Cement India Ltd EPS Trend

Heidelberg Cement India Ltd Key Financial Ratios

Heidelberg Cement India Ltd Profitability Ratios (%)

Heidelberg Cement India Ltd Liquidity Ratios

Heidelberg Cement India Ltd Liquidity Ratios (%)

Heidelberg Cement India Ltd Interest Coverage Ratios (%)

Heidelberg Cement India Ltd Valuation Ratios

Fair Value

Strength and Weakness of Heidelberg Cement India Ltd Stock

FAQ

What is the latest fair value of Heidelberg Cement India Ltd?

What is the Market Cap of Heidelberg Cement India Ltd?

What is the current Stock Price of Heidelberg Cement India Ltd as on 27 July 2024?

What is the High / Low of Heidelberg Cement India Ltd stocks in FY 2024?

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

What is the Book Value of Heidelberg Cement India Ltd?

What is the Dividend Yield of Heidelberg Cement India Ltd?

What is the ROCE of Heidelberg Cement India Ltd?

What is the ROE of Heidelberg Cement India Ltd?

What is the Face Value of Heidelberg Cement India Ltd?

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