# HeidelbergCement India share price today (HeidelbergCement India Ltd, NSE: HEIDELBERG)

> HeidelbergCement India share price today: ₹119.58 at the NSE close on 3 November 2026, down 39.1% in a year. HeidelbergCement India (NSE: HEIDELBERG) is worth ₹2,709 crore, trades at a P/E of 23.9 and has closed between ₹118.40 and ₹188.43 over the past 52 weeks. > HeidelbergCement India Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. HEIDELBERG · Cement · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/heidelbergcement-india-ltd

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## Key numbers

- Business trend: Getting worse, from the last 12 quarters
- Price: ₹119.58 (−39.1% in a year)
- P/E: 23.9× (lower than 56% of the last 11 years)
- Revenue (Sep 2026): ₹568 Cr (+10.9% on a year ago)
- Profit (Sep 2026): ₹17.0 Cr (−32.0% on a year ago)
- Operating margin: 8.0% (−3.0 points on a year ago)
- ROCE: 15%, FY26
- ROIC: 11.2%, against a 12.0% cost of capital: −0.8 points

The main question: yearly earnings per share moved +25.5% while the share price moved −39.1%. ## What is the HeidelbergCement India share price today? HeidelbergCement India Ltd's share price was ₹119.58 at the close on 3 November 2026. It has been falling for 53 weeks. That is 22.9% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹118 and ₹188, and at that close it sat 2% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 9 weeks running. Over the last 11 years the share price moved +65% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 4 September 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at HeidelbergCement India this quarter? Three changes stood out: revenue up on a year earlier for 7 quarters in a row, foreign funds (FIIs) cut their stake for 4 quarters in a row and indian funds and insurers (DIIs) cut their stake for 3 quarters in a row. 1. Revenue up on a year earlier for 7 quarters in a row In the September 2026 quarter revenue was ₹568 crore, +10.9% on a year earlier. 2. Foreign funds (FIIs) cut their stake for 4 quarters in a row From 1.4% to 1% of the company by the September 2026 quarter. 3. Indian funds and insurers (DIIs) cut their stake for 3 quarters in a row From 14.2% to 13.4% of the company by the September 2026 quarter. ## What dividend does HeidelbergCement India pay? HeidelbergCement India paid ₹7 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 5.85% at the ₹119.58 close on 3 November 2026. The last was a dividend of ₹7 a share, ex-date 11 September 2026. ### HeidelbergCement India dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 11 Sep 2026 | ₹7 | Dividend | same day |
| 12 Sep 2025 | ₹7 | Dividend | same day |
| 17 Sep 2024 | ₹8 | Dividend | 18 Sep 2024 |
| 20 Sep 2023 | ₹7 | Dividend | same day |
| 30 Aug 2022 | ₹9 | Dividend | 1 Sep 2022 |
| 17 Sep 2021 | ₹8 | Dividend | 20 Sep 2021 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. HeidelbergCement India Ltd paid out 118% of its profit as dividends in FY26, and it paid a dividend in 10 of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What are HeidelbergCement India's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), HeidelbergCement India reported revenue of ₹568 crore, up 10.9% from ₹512 crore a year earlier, and a profit of ₹17.0 crore, down 32.0% from ₹25.0 crore. ### HeidelbergCement India results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹568 crore | ₹512 crore | +10.9% |
| Profit | ₹17.0 crore | ₹25.0 crore | −32.0% |
| Earnings per share | ₹0.74 | ₹1.10 | −32.7% |
| Operating margin | 8.0% | 11.0% | −3.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). The newest call in our records is from 29 May 2026, about January to March 2026; a call about these results is not in our records yet. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the HeidelbergCement India share price history? HeidelbergCement India closed at ₹119.58 on 3 November 2026, down 39.1% from ₹196.46 a year earlier (31 October 2025) and down 51.7% over five years. Its highest weekly close since March 2016 was ₹265.70 on 17 September 2021. ### HeidelbergCement India share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹118.40 | +1.0% |
| 1 month ago · 1 Oct 2026 | ₹130.80 | −8.6% |
| 6 months ago · 30 Apr 2026 | ₹158.83 | −24.7% |
| 1 year ago · 31 Oct 2025 | ₹196.46 | −39.1% |
| 3 years ago · 3 Nov 2023 | ₹187.85 | −36.3% |
| 5 years ago · 4 Nov 2021 | ₹247.55 | −51.7% |
| 10 years ago · 4 Nov 2016 | ₹137.75 | −13.2% |
| Earliest and lowest weekly close in our records · 11 Mar 2016 | ₹72.50 | +64.9% |
| Highest weekly close since March 2016 · 17 Sep 2021 | ₹265.70 | −55.0% |
| 52-week high (weekly close) · 7 Nov 2025 | ₹188.43 | −36.5% |
| 52-week low (weekly close) · 23 Oct 2026 | ₹118.40 | +1.0% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on HeidelbergCement India? 3 Nov 2026: HeidelbergCement India closed at ₹119.58, up 1.0% on the week and down 8.6% on the month. Results for July to September 2026: Revenue up 10.9% and profit down 32.0% on a year earlier. ### Earlier

- 11 Sep 2026: ex-date for a dividend of ₹7 a share. - 29 May 2026: HeidelbergCement India held its results call for January to March 2026. Management guided: Central India cement market expected to grow 7-7.5% FY27 with company aiming for in-line volume expansion; monsoon dip near-term with recovery post-monsoon and Uttar Pradesh election-driven demand surge. ## What did HeidelbergCement India management say on the latest results call? On the call for January to March 2026, held on 29 May 2026, HeidelbergCement India's management guided: Central India cement market expected to grow 7-7.5% FY27 with company aiming for in-line volume expansion; monsoon dip near-term with recovery post-monsoon and Uttar Pradesh election-driven demand surge. > “The cost push affects everyone. If it isn't passed on, balance sheets across the sector will suffer. Historically, serious cost increases are always passed on, albeit with a lag.”
> Managing Director Joydeep Mukherjee, on the call for January to March 2026

### What management guided

- Cost inflation ₹100-150 per ton estimated April to June 2026 (versus industry ₹300-400 per ton) from fuel mix and packaging. - Clinker-to-cement ratio planned to reduce by 50-100 basis points from current 1.5 through new composite cement product mix evolution; supports sufficient capacity headroom for next 1-2 years without new kiln capital spending. - Green power and fuel mix improvements: steady small incremental improvements planned through FY27-FY28 as renewable availability increases; no specific percentage guidance given due to dispatch constraints. - Khandwa blending unit capital spending ₹130-135 crores split FY27-FY28 with backload (approximately ₹50 crore Yr-1, ₹80-85 crore Yr-2); adds 35,000 tons per month capacity utilizing existing clinker. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/215-29-May-2026.pdf). (From the call for January to March 2026, 29 May 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in HeidelbergCement India's next results? When HeidelbergCement India reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: April to June 2026 cost inflation pass-through validation: Management guided for ₹100-150 per ton cost increase in Q1 with stated confidence on pass-through; verify whether Q1 operating profit per ton at least maintained parity or sequential decline signals pass-through failure to end market. - What to check (from the call)
- April to June 2026 cost inflation pass-through validation: Management guided for ₹100-150 per ton cost increase in Q1 with stated confidence on pass-through; verify whether Q1 operating profit per ton at least maintained parity or sequential decline signals pass-through failure to end market. - Clinker ratio reduction trajectory toward 1.45-1.48 range: Management aiming for 50-100 basis points reduction from current 1.5 through composite cement ramp; verify if July to September 2026 commentary confirms ratio progress toward lower end of stated reduction goal. - Khandwa project ₹50 crore Yr-1 capital spending execution: Management specified backloaded capital spending with lighter first year (implied approximately 40% of ₹130-135 total, roughly ₹50 crore); verify FY27 capital spending guidance confirms on-pace for completion timeline. - Green power percentage achievement from 40% baseline: Management stated green power now exceeds 40% and aiming for steady improvements through 2026-2028; verify April to June 2026 update shows progression from 40% baseline and magnitude of quarterly increment toward stated trajectory. ## Which stock lists is HeidelbergCement India on? HeidelbergCement India is on one of our India lists: Dividend stocks. [Dividend stocks Regular dividend yield (%): 5.78](https://www.sectoralpha.in/dividend-stocks-india)

## Is HeidelbergCement India profitable? HeidelbergCement India Ltd earned ₹17.0 Cr of net profit in the Sep 2026 quarter, −32.0% on the same quarter a year earlier. Full-year FY26 profit was ₹134 Cr. Over 10 years profit has grown 14.4% a year on average. That is 3.0% of the quarter's revenue. The same quarter a year earlier earned ₹25.0 Cr. For the full year, FY26 profit was ₹134 Cr (+25.2% on the year before). Why profit moved: revenue changed +10.9% on a year earlier and the margin moved −3.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +35.6% and revenue +6.8%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does HeidelbergCement India make, and is it growing? HeidelbergCement India Ltd reported ₹568 Cr of revenue in the Sep 2026 quarter, +10.9% on the same quarter a year earlier. That is the 7th quarter in a row with growth on the year before. Over 10 years it has grown 3.5% a year on average. The last full year, FY26, came in at ₹2,330 Cr. The last four reported quarters add to ₹2,416 Cr. FY26 revenue was ₹2,330 Cr, +8.4% on the year before. Recent pace: the last four quarters grew +6.8% on average, against 3.5% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +6.7%, against +4.9% a year over the last 8 quarters (stabilising); profit over the last 12 months grew −14.8%, against −8.4% a year (rolling over). ## How much of every ₹100 of sales does HeidelbergCement India keep? HeidelbergCement India Ltd's operating margin was 8.0% in the Sep 2026 quarter, 3.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 8.0% and 24.0%. The latest quarter is within that range. Why the margin moved: operating margin changed −2.8 percentage points on the year while gross margin changed −4.3 points. So the drop came mostly from the gross margin, which means input costs and prices charged. ## Is HeidelbergCement India's profit turning into cash? Over the last 3 years, 199% of HeidelbergCement India Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹198 Cr of operating cash against ₹134 Cr of profit. After ₹55.0 Cr of spending on assets, ₹143 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 199% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets. ## Where does HeidelbergCement India's cash go? HeidelbergCement India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −109 days in FY26, down from −102 days in FY21. It spent ₹235 Cr on assets over the last 3 years. Customers take 9 days to pay, and stock sits for 125 days on average. At FY26 sales of ₹2,330 Cr, each day of that cycle ties up about ₹6.4 Cr, so roughly −₹696 Cr is tied up in the business at any time. FY26: customers took 9 days to pay and stock sat for 125 days, about 4.1 months of sales sitting as stock, for a full cycle of −109 days, shorter than FY21's −102. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 125 days. Customers pay about 9 days after that. Suppliers are paid at 244 days. Together that makes the −109-day cycle. Spending on assets: ₹235 Cr over the last 3 years, against ₹329 Cr of depreciation (the yearly wear and tear on existing assets). So it is spending about what it takes to replace what wears out, or less. Work still in progress is ₹10.0 Cr (FY26): assets paid for that are not earning yet. In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean. ## What is HeidelbergCement India's P/E ratio, and how does it compare with its own history? HeidelbergCement India Ltd's P/E is 23.9×, in the middle of its own history: higher than 44% of past readings. Its usual P/E (the middle reading) is 25.4×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹4.78. Why the multiple is where it is: over the past year earnings per share moved +25.5% while the price moved −39.1%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved −13.5% a year; about −19.3% a year came from earnings growth and about +5.8 percentage points from the multiple (the market paying more); over 10 years the price moved −1.4% a year; about +4.0% a year came from earnings growth and about −5.4 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## Is the HeidelbergCement India business getting better or worse? HeidelbergCement India Ltd's business is getting worse. Profit and EPS growth are shrinking: profit growth is −14.8% in the latest quarter, against +67.0% at its best in 12 quarters, with ROCE falling at 10.7%. This is based on 12 quarters of 4 measures. Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind. ## How much does HeidelbergCement India earn on its capital? HeidelbergCement India Ltd earned a ROCE of 15% in FY26. That is up from a low of 1% in Dec 2013. Its return on capital used (ROIC) is 0.8 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 5.8% net margin and 0.96× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 5.8% net margin × 0.96× asset turnover × 1.78× leverage (assets divided by equity) ≈ 9.9% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 11.2% − 12.0% = −0.8 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 11.2% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 13.8%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does HeidelbergCement India have too much debt? HeidelbergCement India Ltd has total debt of ₹13.0 Cr against shareholder equity of ₹1,261 Cr as of Sep 2026, so its debt is 0.01× its equity, which is very little. Year by year, that ratio went from 0.13 in FY22 to 0.01 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the HeidelbergCement India shareholding pattern? Foreign institutions cut their stake in HeidelbergCement India Ltd by 2.1 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 1.0% of the company. Domestic institutions moved +1.5 points over the same period, to 13.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −2.1 points over 8 quarters, to 1.0%; Domestic institutions: +1.5 points over 8 quarters, to 13.3%; Promoters: +0.0 points over 8 quarters, to 69.4%. Why the owners changed: foreign institutions moved −2.1 points and domestic institutions +1.5 points over 8 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is HeidelbergCement India from balance-sheet trouble? For HeidelbergCement India Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does HeidelbergCement India rank in its industry? 41.7 out of 100, rank 17 of 26 in Cement, with 100% of the evidence available. HeidelbergCement India Ltd scores 41.7 out of 100 against the 26 companies it is compared with in Cement, ranking 17. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 14 + 15.8 + 5.7 + 6.2 = 41.7. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is HeidelbergCement India compared with? HeidelbergCement India ranks 17 of 26 Cement companies on the 4-Factor Sector Score, with 41.7 out of 100. 1. [NCL Industries Ltd](https://www.sectoralpha.in/stocks/ncl-industries-ltd) NCLIND · quiet · Most evidence points up · 96% evidence 72.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.2/35 · Revenue 3.7% · Profit 100% · Operating margin change -3 points · 88% evidence Capital efficiency 18.5/25 · ROCE 14.6% · Operating margin 12% · 100% evidence Valuation 20.0/20 · P/E 5.8× · PEG 0.14 · 100% evidence Relative strength 12.7/20 · Lead over its industry 3.5% · Lead over NIFTY 500 -9.2% · 1 year -19.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 21.2 + 18.5 + 20 + 12.7 = 72.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Star Cement Ltd](https://www.sectoralpha.in/stocks/star-cement-ltd) STARCEMENT · basing · Most evidence points up · 81% evidence 67.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.8/35 · Revenue 14.5% · Profit 55.1% · Operating margin change -4 points · 88% evidence Capital efficiency 22.5/25 · ROCE 16.6% · Operating margin 21% · 100% evidence Valuation 11.9/20 · P/E 18.3× · PEG 1.12 · 100% evidence Relative strength 9.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -14.1% · 1 year -33.4% · 25% evidence · 0 of 12 weeks ahead Exact sum: 23.8 + 22.5 + 11.9 + 9.5 = 67.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Rain Industries Ltd](https://www.sectoralpha.in/stocks/rain-industries-ltd) RAIN · losing its lead · Evidence leans up · 71% evidence 63.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.3/35 · Revenue 17% · Profit 100% · Operating margin change 5 points · 83% evidence Capital efficiency 10.8/25 · ROCE 8.3% · Operating margin 19% · 76% evidence Valuation 11.0/20 · P/E 12.2× · PEG n/a · 15% evidence Relative strength 14.0/20 · Lead over its industry 39.3% · Lead over NIFTY 500 23.4% · 1 year 45.4% · 100% evidence · 9 of 12 weeks ahead Exact sum: 27.3 + 10.8 + 11 + 14 = 63.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [UltraTech Cement Ltd](https://www.sectoralpha.in/stocks/ultratech-cement-ltd) ULTRACEMCO · turning · Evidence leans up · 67% evidence 62.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.0/35 · Revenue 16.9% · Profit 21.1% · Operating margin change 0 points · 95% evidence Capital efficiency 16.9/25 · ROCE 12.7% · Operating margin 16% · 76% evidence Valuation 10.1/20 · P/E 36.6× · PEG n/a · 50% evidence Relative strength 11.2/20 · Lead over its industry n/a · Lead over NIFTY 500 -0.3% · 1 year -7.6% · 25% evidence · 0 of 12 weeks ahead Exact sum: 24 + 16.9 + 10.1 + 11.2 = 62.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 5. [JSW Cement Ltd](https://www.sectoralpha.in/stocks/jsw-cement-ltd) JSWCEMENT · basing · Evidence leans up · 60% evidence 59.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.8/35 · Revenue 19.3% · Profit 100% · Operating margin change -4 points · 95% evidence Capital efficiency 12.3/25 · ROCE 11.1% · Operating margin 15% · 76% evidence Valuation 10.4/20 · P/E 20× · PEG n/a · 15% evidence Relative strength 10.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -1.6% · 1 year -15.3% · 25% evidence · 0 of 12 weeks ahead Exact sum: 25.8 + 12.3 + 10.4 + 10.8 = 59.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Birla Corporation Ltd](https://www.sectoralpha.in/stocks/birla-corporation-ltd) BIRLACORPN · basing · Evidence leans up · 85% evidence 53.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.7/35 · Revenue 3.3% · Profit 0.6% · Operating margin change -5 points · 100% evidence Capital efficiency 12.5/25 · ROCE 9.8% · Operating margin 9% · 100% evidence Valuation 18.6/20 · P/E 11.9× · PEG 0.33 · 100% evidence Relative strength 9.4/20 · Lead over its industry n/a · Lead over NIFTY 500 -15.4% · 1 year -34.1% · 25% evidence · 0 of 12 weeks ahead Exact sum: 12.7 + 12.5 + 18.6 + 9.4 = 53.2 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 7. [Shree Cement Ltd](https://www.sectoralpha.in/stocks/shree-cement-ltd) SHREECEM · basing · Evidence leans up · 100% evidence 51.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.2/35 · Revenue 14.3% · Profit -7.7% · Operating margin change -3 points · 100% evidence Capital efficiency 14.4/25 · ROCE 10.3% · Operating margin 17% · 100% evidence Valuation 5.4/20 · P/E 52.4× · PEG 3.8 · 100% evidence Relative strength 15.8/20 · Lead over its industry 9.7% · Lead over NIFTY 500 -3.8% · 1 year -18.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.2 + 14.4 + 5.4 + 15.8 = 51.8 · What this means: Relative strength against the index is -3.8%, and revenue and profit growth are weak. 8. [Mangalam Cement Ltd](https://www.sectoralpha.in/stocks/mangalam-cement-ltd) MANGLMCEM · losing its lead · Evidence leans up · 96% evidence 51.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.1/35 · Revenue 0.5% · Profit 90% · Operating margin change -5 points · 88% evidence Capital efficiency 10.3/25 · ROCE 11% · Operating margin 12% · 100% evidence Valuation 13.9/20 · P/E 18.6× · PEG 0.68 · 100% evidence Relative strength 14.2/20 · Lead over its industry 19.2% · Lead over NIFTY 500 5.3% · 1 year 13% · 100% evidence · 7 of 12 weeks ahead Exact sum: 13.1 + 10.3 + 13.9 + 14.2 = 51.5 · What this means: Relative strength against the index is 5.3%, and revenue and profit growth are weak. 9. [JK Lakshmi Cement Ltd](https://www.sectoralpha.in/stocks/jk-lakshmi-cement-ltd) JKLAKSHMI · quiet · Too little evidence to rank firmly · 56% evidence 49.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.5/35 · Revenue 8.7% · Profit 0.5% · Operating margin change -4 points · 83% evidence Capital efficiency 14.4/25 · ROCE 12% · Operating margin 14% · 76% evidence Valuation 10.8/20 · P/E 14.7× · PEG n/a · 15% evidence Relative strength 8.2/20 · Lead over its industry n/a · Lead over NIFTY 500 -24.9% · 1 year -47.8% · 25% evidence · 0 of 12 weeks ahead Exact sum: 16.5 + 14.4 + 10.8 + 8.2 = 49.9 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 10. [Nuvoco Vistas Corporation Ltd](https://www.sectoralpha.in/stocks/nuvoco-vistas-corporation-ltd) NUVOCO · losing its lead · Evidence leans down · 78% evidence 49.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.4/35 · Revenue 10.6% · Profit 51.5% · Operating margin change 0 points · 100% evidence Capital efficiency 11.2/25 · ROCE 7% · Operating margin 15% · 100% evidence Valuation 4.9/20 · P/E 25.8× · PEG 8.14 · 65% evidence Relative strength 11.6/20 · Lead over its industry n/a · Lead over NIFTY 500 1.5% · 1 year -22.7% · 25% evidence · 5 of 12 weeks ahead Exact sum: 21.4 + 11.2 + 4.9 + 11.6 = 49.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Orient Cement Ltd](https://www.sectoralpha.in/stocks/orient-cement-ltd) ORIENTCEM · basing · Evidence leans down · 93% evidence 48.2 out of 100 Growth Capital Valuation Relative
12. [India Cements Ltd](https://www.sectoralpha.in/stocks/india-cements-ltd) INDIACEM · basing · Evidence leans down · 75% evidence 47.5 out of 100 Growth Capital Valuation Relative
13. [J K Cements Ltd](https://www.sectoralpha.in/stocks/j-k-cements-ltd) JKCEMENT · quiet · Evidence leans down · 85% evidence 47.3 out of 100 Growth Capital Valuation Relative
14. [K C P Ltd](https://www.sectoralpha.in/stocks/k-c-p-ltd) KCP · basing · Evidence leans down · 63% evidence 46.8 out of 100 Growth Capital Valuation Relative
15. [The Ramco Cements Ltd](https://www.sectoralpha.in/stocks/the-ramco-cements-ltd) RAMCOCEM · quiet · Evidence leans down · 81% evidence 44.2 out of 100 Growth Capital Valuation Relative
16. [Dalmia Bharat Ltd](https://www.sectoralpha.in/stocks/dalmia-bharat-ltd) DALBHARAT · quiet · Evidence leans down · 85% evidence 42.2 out of 100 Growth Capital Valuation Relative
17. HeidelbergCement India Ltd this page HEIDELBERG · quiet · Evidence leans down · 100% evidence 41.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.0/35 · Revenue 6.7% · Profit -14.8% · Operating margin change -3 points · 100% evidence Capital efficiency 15.8/25 · ROCE 14.7% · Operating margin 8% · 100% evidence Valuation 5.7/20 · P/E 24.2× · PEG 4.57 · 100% evidence Relative strength 6.2/20 · Lead over its industry -8.1% · Lead over NIFTY 500 -19.5% · 1 year -38.5% · 100% evidence · 0 of 12 weeks ahead Exact sum: 14 + 15.8 + 5.7 + 6.2 = 41.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 18. [ACC Ltd](https://www.sectoralpha.in/stocks/acc-ltd) ACC · quiet · Evidence leans down · 85% evidence 40.4 out of 100 Growth Capital Valuation Relative
19. [Ambuja Cements Ltd](https://www.sectoralpha.in/stocks/ambuja-cements-ltd) AMBUJACEM · basing · Evidence leans down · 82% evidence 35.7 out of 100 Growth Capital Valuation Relative
20. [BIGBLOC Construction Ltd](https://www.sectoralpha.in/stocks/bigbloc-construction-ltd) BIGBLOC · basing · Evidence leans down · 64% evidence 35.2 out of 100 Growth Capital Valuation Relative
21. [Sagar Cements Ltd](https://www.sectoralpha.in/stocks/sagar-cements-ltd) SAGCEM · quiet · Most evidence points down · 64% evidence 34.7 out of 100 Growth Capital Valuation Relative
22. [Deccan Cements Ltd](https://www.sectoralpha.in/stocks/deccan-cements-ltd) DECCANCE · quiet · Most evidence points down · 89% evidence 34.0 out of 100 Growth Capital Valuation Relative
23. [Saurashtra Cement Ltd](https://www.sectoralpha.in/stocks/saurashtra-cement-ltd) SAURASHCEM · quiet · Most evidence points down · 79% evidence 28.1 out of 100 Growth Capital Valuation Relative
24. [Shree Digvijay Cement Co. Ltd](https://www.sectoralpha.in/stocks/shree-digvijay-cement-co-ltd) SHREDIGCEM · quiet · Most evidence points down · 72% evidence 27.2 out of 100 Growth Capital Valuation Relative
25. [Shiva Cement Ltd](https://www.sectoralpha.in/stocks/shiva-cement-ltd) SHIVACEM · Too little evidence to rank firmly · 48% evidence 51.0 out of 100 Growth Capital Valuation Relative
26. [Prism Johnson Ltd](https://www.sectoralpha.in/stocks/prism-johnson-ltd) PRSMJOHNSN · basing · Too little evidence to rank firmly · 49% evidence 44.2 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Cement](https://www.sectoralpha.in/sectors/cement), all 26 compared on one page. ## Which companies are close to HeidelbergCement India in size? HeidelbergCement India is the 16th largest of 26 Cement companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Birla Corporation, JK Lakshmi Cement and Prism Johnson. Just below it: Mangalam Cement, Orient Cement and K C P. ### Cement companies close in size

1. [Birla Corporation Ltd](https://www.sectoralpha.in/stocks/birla-corporation-ltd) ₹5,978 crore
2. [JK Lakshmi Cement Ltd](https://www.sectoralpha.in/stocks/jk-lakshmi-cement-ltd) ₹5,634 crore
3. [Prism Johnson Ltd](https://www.sectoralpha.in/stocks/prism-johnson-ltd) ₹4,757 crore
4. HeidelbergCement India Ltd ₹2,741 crore
5. [Mangalam Cement Ltd](https://www.sectoralpha.in/stocks/mangalam-cement-ltd) ₹2,413 crore
6. [Orient Cement Ltd](https://www.sectoralpha.in/stocks/orient-cement-ltd) ₹2,316 crore
7. [K C P Ltd](https://www.sectoralpha.in/stocks/k-c-p-ltd) ₹1,865 crore

[All 26 Cement companies, largest first](https://www.sectoralpha.in/sectors/cement#all-companies)

### Companies close in size in other industries

1. [Windsor Machines Ltd](https://www.sectoralpha.in/stocks/windsor-machines-ltd) ₹2,762 crore · Capital Goods - Engineering Heavy
2. [LS Industries Ltd](https://www.sectoralpha.in/stocks/ls-industries-ltd) ₹2,743 crore · Textiles - Weaving
3. HeidelbergCement India Ltd ₹2,741 crore
4. [PSP Projects Ltd](https://www.sectoralpha.in/stocks/psp-projects-ltd) ₹2,741 crore · Construction & Contracting
5. [Varmora Granito Ltd](https://www.sectoralpha.in/stocks/varmora-granito-ltd) ₹2,739 crore

## What else do people ask about HeidelbergCement India? ### What is HeidelbergCement India's share price today? HeidelbergCement India Ltd's share price is ₹119.58, −39.1% over the past year. The whole company is worth ₹2,709 Cr on the market. In the last 52 weeks it traded between ₹118 to ₹188; today it is 2% of the way up from the low, 22.9% below its 200-day average (as of 3 November 2026). ### What were HeidelbergCement India's latest quarterly results? HeidelbergCement India Ltd reported revenue of ₹568 Cr and net profit of ₹17.0 Cr for the Sep 2026 quarter. Revenue rose 10.9% and profit fell 32.0% compared with a year earlier. Earnings per share were ₹0.74. The operating margin was 8.0%, 3.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is HeidelbergCement India's market cap? HeidelbergCement India Ltd's market capitalisation is ₹2,709 Cr at a share price of ₹119.58. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is HeidelbergCement India performing? HeidelbergCement India Ltd's share price has been falling for 53 weeks. In its latest quarter, revenue rose 10.9% and profit fell 32.0% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 9 weeks running (as of 3 November 2026). ### Will HeidelbergCement India's share price go up? This page does not forecast HeidelbergCement India Ltd's share price. What it shows instead: the share price is ₹119.58, and it has been falling for 53 weeks. Its P/E of 23.9× is higher than 44% of its own last 11 years (as of 3 November 2026). ### Who owns HeidelbergCement India? Promoters own 69.4% of HeidelbergCement India Ltd, foreign institutions 1.0%, domestic institutions 13.3% and the public 16.2% (latest quarter). The biggest change over the last two years: Foreign institutions cut their stake by 2.1 percentage points over 8 quarters (as of 3 November 2026). ### Does HeidelbergCement India have too much debt? No, HeidelbergCement India Ltd has little debt: its debt is 0.01× its equity, and its operating profit is 16 times its interest bill. FY26 borrowings were ₹14.0 Cr against equity of ₹1,372 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is HeidelbergCement India in its business cycle? HeidelbergCement India Ltd's FY26 operating margin was 12.0%, against a 13-year range of 8.0% to 24.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 8.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the HeidelbergCement India story? The main question: yearly earnings per share moved +25.5% while the share price moved −39.1%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is HeidelbergCement India a stock worth studying right now? What the numbers show: HeidelbergCement India Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a HeidelbergCement India share price forecast for 2026? What management itself guided: Central India cement market expected to grow 7-7.5% FY27 with company aiming for in-line volume expansion; monsoon dip near-term with recovery post-monsoon and Uttar Pradesh election-driven demand surge. ## Lists

- Dividend stocks: https://www.sectoralpha.in/dividend-stocks-india

This is research, not advice. We’re not SEBI-registered.