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HeidelbergCement India Ltd

HEIDELBERG
NSE
159.13
0.37%
Last Updated:
29 Apr '26, 4:00 PM
Company Overview
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HeidelbergCement India Ltd

HEIDELBERG
NSE
159.13
0.37%
29 Apr '26, 4:00 PM
Company Overview
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6M
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Quick Ratios

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Mkt Cap
Market Capitalization
3,606Cr
Close
Close Price
159.13
Industry
Industry
Cement
PE
Price To Earnings
25.87
PS
Price To Sales
1.57
Revenue
Revenue
2,296Cr
Rev Gr TTM
Revenue Growth TTM
7.64%
PAT Gr TTM
PAT Growth TTM
33.27%
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Quarterly Results

Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
602596566607597532461543612598512574
Growth YoY
Revenue Growth YoY%
-2.91.011.912.4-0.9-10.7-18.5-10.62.712.310.95.8
Expenses
ExpensesCr
533503497542508454424510522509454521
Operating Profit
Operating ProfitCr
699369658978373391895853
OPM
OPM%
11.515.612.310.814.914.78.16.114.814.811.29.2
Other Income
Other IncomeCr
13131413141213911991
Interest Expense
Interest ExpenseCr
799899975664
Depreciation
DepreciationCr
272727272828262827272728
PBT
PBTCr
49704843665315870653322
Tax
TaxCr
14181211181442191697
PAT
PATCr
35523631484011550482516
Growth YoY
PAT Growth YoY%
-62.61.4410.7464.037.7-23.7-68.7-83.54.820.9122.4200.6
NPM
NPM%
5.88.86.35.28.17.52.41.08.28.14.92.7
EPS
EPS
1.52.31.61.42.11.80.50.22.22.11.10.7

Profit & Loss

Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
2,0441,6481,7171,8892,1332,1702,1172,2972,2382,3662,1492,296
Growth
Revenue Growth%
-19.44.210.012.91.7-2.48.5-2.65.7-9.26.8
Expenses
ExpensesCr
1,7221,4171,4391,5261,6501,6421,6101,8621,9892,0491,9092,006
Operating Profit
Operating ProfitCr
322231279363483528507435249317239290
OPM
OPM%
15.814.016.219.222.724.323.918.911.113.411.112.6
Other Income
Other IncomeCr
742224203553464945554531
Interest Expense
Interest ExpenseCr
13910890747574513646352922
Depreciation
DepreciationCr
13810099101102109111112112110110109
PBT
PBTCr
12045114208342398391335136227146190
Tax
TaxCr
60103774121130768337593951
PAT
PATCr
60357613322126831525299168107139
Growth
PAT Growth%
-40.6115.374.865.721.517.5-19.9-60.769.2-36.430.4
NPM
NPM%
2.92.14.47.010.312.414.911.04.47.15.06.1
EPS
EPS
2.61.63.45.99.711.813.911.14.47.44.76.2

Balance Sheet

Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
227227227227227227227227227227227227
Reserves
ReservesCr
6456687408209451,0881,2671,3391,2351,2431,1691,083
Current Liabilities
Current LiabilitiesCr
934972752858913929918837850905928914
Non Current Liabilities
Non Current LiabilitiesCr
1,014747689629611549434422353286219214
Total Liabilities
Total LiabilitiesCr
2,8202,6152,4082,5332,6962,7932,8452,8242,6652,6612,5422,437
Current Assets
Current AssetsCr
7355624666618871,0249961,1841,1131,1411,013942
Non Current Assets
Non Current AssetsCr
2,0852,0531,9421,8721,8081,7691,8491,6401,5521,5201,5291,495
Total Assets
Total AssetsCr
2,8202,6152,4082,5332,6962,7932,8452,8242,6652,6612,5422,437

Cash Flow

Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
257361377393459439302226350265
Investing Cash Flow
Investing Cash FlowCr
-108-40-14-26-14-173-35144-48-73
Financing Cash Flow
Financing Cash FlowCr
-287-315-165-242-314-304-328-267-242-271
Net Cash Flow
Net Cash FlowCr
-1386198125131-38-6110460-79
Free Cash Flow
Free Cash FlowCr
135317359351415394255199277165
CFO To PAT
CFO To PAT%
726.0474.2283.2178.2171.1139.5119.7228.0208.4247.9
CFO To EBITDA
CFO To EBITDA%
111.2129.6103.881.386.986.769.590.9110.4110.5

Ratios

Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
1,6921,8382,8263,2254,0993,2205,2814,2933,6414,4454,486
Price To Earnings
Price To Earnings
35.552.037.124.218.612.016.817.036.726.542.0
Price To Sales
Price To Sales
0.81.11.61.71.91.52.51.91.61.92.1
Price To Book
Price To Book
2.02.02.93.13.52.53.52.72.53.03.2
EV To EBITDA
EV To EBITDA
7.711.112.29.68.65.810.29.513.412.717.1
Profitability Ratios
Profitability Ratios
GPM
GPM%
79.779.879.080.481.982.182.481.382.180.579.4
OPM
OPM%
15.814.016.219.222.724.323.918.911.113.411.1
NPM
NPM%
2.92.14.47.010.312.414.911.04.47.15.0
ROCE
ROCE%
14.49.413.218.626.629.424.621.111.116.311.9
ROE
ROE%
6.84.07.912.718.820.421.116.16.811.47.7
ROA
ROA%
2.11.43.25.38.29.611.18.93.76.34.2
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** HeidelbergCement India Ltd (HCIL), a subsidiary of Heidelberg Materials Group (Germany), is a leading cement manufacturer in India with a strong regional presence, particularly in Central India. Since entering India in 2006 through the acquisition of Mysore Cements Limited and Indorama Cement Limited, HCIL has undergone significant transformation, rebranding, and capacity expansion. It now operates under the "mycem" brand portfolio and leverages its parent group’s 150-year legacy, German engineering excellence, and global sustainability leadership to achieve differentiation in a highly competitive market. HCIL currently has a cement grinding capacity of **6.26 million tonnes per annum (MTPA)**, with operations in Damoh (Madhya Pradesh), Jhansi (Uttar Pradesh), and Ammasandra (Karnataka). The company is strategically expanding capacity through brownfield and greenfield initiatives, including a major project in Gujarat. It also plays a key role as a **procurement hub** for the Heidelberg Materials Group, supporting the global network with equipment, spares, and consumables. --- ### **Strategic Growth & Market Position** - **India’s Fastest-Growing Cement Market**: India is growing at **6–7% CAGR**, outpacing global cement growth (4–5% CAGR), driven by infrastructure, housing, and industrial demand. Asia-Pacific accounts for **70%** of global cement consumption. - **Competitive Retail & Institutional Presence**: HCIL maintains strong **retail shelf space** and a balanced sales strategy across trade (distributors, dealers) and non-trade (direct institutional sales to developers, government agencies). - **Expansion Strategy**: - Secured a **60-million-tonne limestone block** in Sukha Satpara (Madhya Pradesh) through competitive bid, extending mine life by over 20 years and enabling future capacity expansion. - Greenfield project in Gujarat to add **6.5 million TPY capacity** in two phases (3.5 MTPA in Phase I), with capex of ~₹2,500 crores. - Debottlenecking projects underway to add **300,000 T clinker** and **500,000 T grinding capacity**. --- ### **Product Innovation & Brand Strategy** HCIL continues to strengthen its premium product portfolio, leveraging innovation, German engineering, and customer insights. - **mycem Power Shield (Launched Q1 2025)**: - Water-repellent cement engineered to prevent seepage, dampness, and structural damage in residential construction. - Commands a **price premium of ₹40–50 per bag (15% over standard PPC)** and accounts for **~10% of sales volume**. - Used across **all RCC applications** (foundations, slabs, columns) and backed by **on-site technical support** for masons. - **mycem Primo (Mid-Tier Product)**: - Launched to fill pricing gap between standard and premium products. - Priced **₹15 above standard cement**, it avoids cannibalization of the higher-end **mycem Power**. - Features **3–30 micron particle size** for crack-free structures and **waterproof Box Bottom Bag packaging**. - **Brand Refresh (FY24–FY25)**: - Rebranded 'mycem' to emphasize **150-year German legacy and engineering excellence**. - New packaging, strengthened brand recall, and enhanced top-of-mind perception. - Mascot **'Chutkoo'** continues as a symbol of **durable, high-quality construction**, widely recognized in Central India. --- ### **Sales, Marketing & Customer Engagement** HCIL employs a modern, digital-first marketing strategy combined with targeted traditional outreach. - **Sales Excellence Program (RISE)**: Launched in FY24 to boost branding, customer service, and channel growth. - Unified **CRM-SIAS platform** integrates data across sales, CRM, and logistics. - Provides **360° visibility** into performance, enabling real-time sales tracking, territory planning, and mobile access for field teams. - **Sambandh+ Mobile App (Influencer Loyalty Program)**: - Targets **masons, contractors, engineers, and architects**. - Users **self-register purchases** and earn points redeemable in **15–25 days** (industry benchmark: 45–50 days). - Integrated with CRM to provide **primary, secondary, and tertiary sales data** and optimize promotions. - Delivers **real-time promotional updates and technical content**, enhancing engagement. - **Marketing Mix**: - Increased focus on **digital and social media campaigns** (organic + paid). - Maintains **BTL methods**: shop paintings, wall branding, on-site demos, and WhatsApp chatbots. - **WhatsApp Business Platform**: Customers can message “Hi” to 7236955555 to access **authorized dealers, pricing, and construction advice**. --- ### **Digital Transformation & Operational Efficiency** HCIL is a leader in digitalization, process automation, and sustainability across its value chain. - **Automation & AI**: - **Imlai plant operated remotely** from Narsingarh via Central Control Room, using **Simplehelp** (remote monitoring) and **AI-based Expert System** for autopilot process optimization. - **Px Trend** system provides real-time performance dashboards and long-term trends across manufacturing units. - **Smart Procurement & Global Sourcing**: Utilizes Heidelberg Materials’ global network for cost-effective, high-quality materials. - **Energy Resilience & Green Initiatives**: - **Solar Power**: Plants in Damoh (~6 MW), Jhansi (~15 MW), and Ammasandra (>90% green energy via long-term agreements). - **Waste Heat Recovery (WHR)**: 13 MW WHR plant at Damoh reduces grid dependency. - **Alternative Fuels Target**: 5% thermal substitution initially, aiming for double digits. Utilizes biomass, municipal waste, and plastic waste. - **Carbon Capture & evoZero Cement**: - Parent company **Heidelberg Materials launched evoZero**, the **world’s first net-zero carbon cement** (2023), using carbon captured at its **Brevik, Norway plant**. - A **carbon capture facility** using **Linde’s amine scrubbing technology** is under development at its Indian plant, aligned with global decarbonization goals. --- ### **Leadership & Organizational Strength** - **Mr. Joydeep Mukherjee** (Key Leadership Figure): - Joined HCIL after leadership roles at **H&R Johnson (CEO & Board Member), RR Kabel (COO), and Prism Johnson Limited (Board Member)**. - Earlier, served at **ACC Limited** in critical roles including **Chief Executive (South & West)** and **Director Sales (North & Central)**. - Credited with launching **two premium cement products** and improving **revenue and plant efficiency** at ACC. - Holds **MBA in International Business (IIFT)** and completed executive programs at **IMD Lausanne and ISB Hyderabad**. - **Mr. S.P. Tiwari (Technical Leadership)**: - Over **35 years of experience** in cement operations. - Legal 'Occupier' under Factories Act and 'Owner' under Mines Act. - Oversees technical operations, post-expansion integration, and WHR plant commissioning. - **Non-Executive Director at Zuari Cement Limited**. --- ### **Sustainability & Corporate Responsibility** - **Water Positive in Damoh**: Achieved despite operating in water-scarce region. - **Green Manufacturing**: Focus on **waste reduction, alternative fuels, and automation**. - **CSR & Community Engagement**: - Trains masons and contractors on best practices. - Free **Mobile Technical Labs (MTL)** provide on-site construction testing and guidance. - **Concrete Solutions Lab** supports structural integrity and sustainability in building projects.