HeidelbergCement India Limited (HEIDELBERG) Fair Value & Analysis
Basic Materials · IN · Market cap ₹36.3B (≈ $385M) · ISIN INE578A01017
What is HeidelbergCement India Limited really worth?
A solid business, but trading 67% above our fair value of ₹95.71.
As of Aug 21, 2026, the fair value of HeidelbergCement India Limited is ₹95.71 per share against a price of ₹160.05, so the fair value sits 40% below the price. A model estimate blended from multiple valuation models, recalculated regularly.
Strengths
Risks
Fair value as of: Aug 21, 2026
From 22 valuation models · updated 16 days ago
Share price +2.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (₹125.63). The favourable scenario is already priced in.
- Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (₹66.14 to ₹125.63) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
60‑month range ₹137.10 – ₹230.02 · fair‑value band ₹66.14 – ₹125.63 · the ₹160.05 price screens above the ₹95.71 fair value. Dashed = 300-day average. As of Aug 21, 2026.
Analysis
HeidelbergCement India Limited (HEIDELBERG) currently trades at ₹160.05, while our model-based Fair Value estimate is ₹95.71, implying the stock looks roughly 67.2% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of ₹100.97 per share, and 0 of the 22 models we run sit above the ₹160.05 price. Bear case: the Asset-Based group reads lowest at ₹40.56, and 22 of the 22 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, HeidelbergCement India Limited generated revenue of ₹22.6B at a net margin of 5.7%. Revenue grew 10.9% year over year. It earns a return on equity of 9.7%. Net debt stands at ₹1.8B. Fundamentals as of Aug 21, 2026
Our scenario range runs from ₹66.14 (bear case) to ₹125.63 (bull case); at ₹160.05, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 26% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −59% fair-value upside, at −40%, HEIDELBERG screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹2.47 per share, which is 2.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 22 models by family
Widest divergence: DCF Models (₹100.97) versus Asset-Based (₹40.56). Highest evidence: FCF DCF (81).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 67 · Market factors (momentum, volatility) 48
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
HeidelbergCement India Limited engages in the manufacture and sale of cement in India. The company offers Portland pozzolana cement and Portland slag cement under the mycem, mycem Primo, mycem Power, and mycem Power Shield brand names.
Full company description
HeidelbergCement India Limited engages in the manufacture and sale of cement in India. The company offers Portland pozzolana cement and Portland slag cement under the mycem, mycem Primo, mycem Power, and mycem Power Shield brand names. It also manufactures and sells clinker; and sells scrap materials, as well as provides concrete solution lab, including mobile technical lab services. The company was formerly known as Mysore Cements Limited and changed its name to HeidelbergCement India Limited in April 2009. HeidelbergCement India Limited was incorporated in 1958 and is based in Gurugram, India. HeidelbergCement India Limited is a subsidiary of Cementrum I.B.V.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
HeidelbergCement India Limited reported revenue of ₹23.3B in FY2026 versus ₹23.0B in FY2022, a compound +0.4%/yr. Reported net income was ₹1.3B in FY2026, compounding −14.6%/yr from FY2022.
HEIDELBERG screens 67% overvalued. Compare with CRH plc →
Peer Group
Building Materials · 258 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Building Materials median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CRH plc CRH | $96.05 | $69.69 | −27% |
| Holcim AG HOLN | CHF 71.04 | CHF 20.00 | −72% |
| Vulcan Materials Company VMC | $259.69 | $114.48 | −56% |
| UltraTech Cement Limited ULTRACEMCO | ₹11,408 | ₹4,718 | −59% |
| Martin Marietta Materials, Inc MLM | $543.90 | $215.31 | −60% |
| China Jushi Co 600176 | ¥40.56 | ¥13.22 | −67% |
| Amrize AG AMRZ | CHF 37.65 | CHF 29.67 | −21% |
| Grasim Industries Limited GRASIM | ₹3,293 | ₹1,245 | −62% |
| CEMEX, S.A. CX | $11.24 | $11.31 | +1% |
| James Hardie Industries plc JHX | A$41.54 | A$9.80 | −76% |
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