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HeidelbergCement India Q2 FY27 results: net profit down 32.7% to ₹16.77 crore, revenue up 11.0%
HeidelbergCement India Limited reported standalone Q2 FY27 revenue of ₹567.78 crore, up 11.0% year on year, while EBITDA fell 16.3% to ₹48.17 crore and net profit declined 32.7% to ₹16.77 crore. Against Q1 FY27, revenue fell 9.6%, EBITDA fell 27.9% and net profit fell 45.1%; the EBITDA margin declined to 8.5% from 10.6% in the previous quarter.
Key points
- Standalone Q2 FY27 revenue was ₹567.78 crore, up 11.0% from ₹511.66 crore in Q2 FY26 and down 9.6% from ₹628.11 crore in Q1 FY27.
- EBITDA was ₹48.17 crore in Q2 FY27, down 16.3% year on year and 27.9% sequentially, while the margin fell 2.7 percentage points year on year to 8.5%.
- Net profit was ₹16.77 crore in Q2 FY27, down 32.7% from ₹24.93 crore a year earlier and 45.1% from ₹30.55 crore in Q1 FY27; basic EPS was ₹0.74.
- For H1 FY27, revenue rose 7.8% to ₹1,195.89 crore, but profit before tax fell 35.2% to ₹63.58 crore and net profit fell 35.3% to ₹47.32 crore.
- On the reaction day, the stock fell 0.8% from its pre-results close; by the next day's close it was down 3.9%.
How did HeidelbergCement India perform in Q2 FY27?
HeidelbergCement India reported standalone revenue from operations of ₹567.78 crore in Q2 FY27, up 11.0% from ₹511.66 crore in Q2 FY26 but down 9.6% from ₹628.11 crore in Q1 FY27. Total income was ₹574.45 crore, while EBITDA fell 16.3% year on year to ₹48.17 crore and declined 27.9% from ₹66.81 crore in the previous quarter.
The EBITDA margin was 8.5% in Q2 FY27, compared with 11.2% in Q2 FY26 and 10.6% in Q1 FY27. Profit before tax fell 32.4% year on year to ₹22.61 crore and 44.8% sequentially to ₹40.97 crore; net profit fell 32.7% to ₹16.77 crore and 45.1% to ₹30.55 crore, respectively. Basic EPS was ₹0.74, against ₹1.10 a year earlier and ₹1.35 in the previous quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 567.78 | 628.11 | 511.66 | +11.0% | −9.6% |
| Other income | 6.67 | 6.29 | 8.96 | −25.6% | +6.0% |
| Total expenses | 551.84 | 593.43 | 487.15 | +13.3% | −7.0% |
| EBITDA | 48.17 | 66.81 | 57.53 | −16.3% | −27.9% |
| EBITDA margin | 8.5% | 10.6% | 11.2% | −2.7 pp | −2.1 pp |
| Profit before tax | 22.61 | 40.97 | 33.47 | −32.4% | −44.8% |
| Tax | 5.84 | 10.42 | 8.54 | −31.6% | −44.0% |
| Net profit | 16.77 | 30.55 | 24.93 | −32.7% | −45.1% |
| EPS (₹) | 0.74 | 1.35 | 1.10 | −32.7% | −45.2% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in HeidelbergCement India's costs and profit?
Total expenses rose 13.3% year on year to ₹551.84 crore, faster than revenue growth of 11.0%. Cost of materials increased 18.2% to ₹120.96 crore, employee cost rose 3.2% to ₹42.72 crore, depreciation increased 7.9% to ₹29.09 crore and other expenses rose 5.9% to ₹345.56 crore. Finance costs declined 48.2% to ₹3.14 crore.
Other income fell 25.6% year on year to ₹6.67 crore, while tax expense decreased 31.6% to ₹5.84 crore. There was no exceptional item in Q2 FY27. EBITDA consequently declined 16.3% to ₹48.17 crore and the margin fell 2.7 percentage points to 8.5%; net profit fell 32.7% to ₹16.77 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 120.96 | 102.36 | +18.60 | +18.2% |
| Employee cost | 42.72 | 41.39 | +1.33 | +3.2% |
| Finance costs | 3.14 | 6.06 | −2.92 | −48.2% |
| Depreciation | 29.09 | 26.96 | +2.13 | +7.9% |
| Other expenses | 345.56 | 326.35 | +19.21 | +5.9% |
| Total expenses | 551.84 | 487.15 | +64.69 | +13.3% |
| Other income | 6.67 | 8.96 | −2.29 | −25.6% |
| Tax | 5.84 | 8.54 | −2.70 | −31.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue rose 7.8% to ₹1,195.89 crore from ₹1,109.2 crore in H1 FY26, while total income increased 7.2% to ₹1,208.85 crore. Profit before tax fell 35.2% to ₹63.58 crore from ₹98.06 crore.
Net profit for H1 FY27 declined 35.3% to ₹47.32 crore from ₹73.16 crore in H1 FY26. Basic EPS fell 35.3% to ₹2.09 from ₹3.23.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,196 | 1,109 | +7.8% |
| Profit before tax | 63.58 | 98.06 | −35.2% |
| Net profit | 47.32 | 73.16 | −35.3% |
| EPS (₹) | 2.09 | 3.23 | −35.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹2,239.11 crore on 30 September 2026, compared with ₹2,438.25 crore on 31 March 2026. Total equity was ₹1,260.54 crore against ₹1,371.85 crore, while borrowings remained nil. Cash and cash equivalents rose to ₹188.95 crore from ₹67.49 crore.
Inventories increased to ₹182.07 crore from ₹159.1 crore, trade receivables fell to ₹57.31 crore from ₹59.64 crore and trade payables declined to ₹239.82 crore from ₹309.62 crore. For H1 FY27, operating cash flow was ₹21.65 crore, compared with ₹83.8 crore in H1 FY26; investing cash flow was ₹264.95 crore against ₹11.64 crore, and financing cash flow was a net outflow of ₹165.14 crore against ₹168.26 crore. Capital expenditure was ₹11.68 crore versus ₹21.74 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,239 | 2,438 |
| Total equity | 1,261 | 1,372 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 188.95 | 67.49 |
| Inventories | 182.07 | 159.10 |
| Trade receivables | 57.31 | 59.64 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 21.65 | 83.80 |
| Cash from investing | 264.95 | 11.64 |
| Cash from financing | −165.14 | −168.26 |
| Capital expenditure | 11.68 | 21.74 |
Source: Company's results filing (XBRL).
How has HeidelbergCement India done over the last 8 quarters?
Revenue reached its highest level in the eight-quarter series at ₹646.22 crore in Q4 FY26 and its lowest at ₹511.66 crore in Q2 FY26. It fell to ₹567.78 crore in Q2 FY27 from ₹628.11 crore in Q1 FY27, although revenue has risen year on year in each of the last seven quarters.
Net profit peaked at ₹50.45 crore in Q4 FY25 and was lowest at ₹5.19 crore in Q3 FY25. It declined from ₹30.55 crore in Q1 FY27 to ₹16.77 crore in Q2 FY27, while the EBITDA margin fell from 10.6% to 8.5% over the same sequential comparison.
What else did the company announce?
The board approved the unaudited financial results for the quarter and half year ended 30 September 2026 on 29 October 2026, along with the statutory auditors’ limited review report and a press release. The trading window, which had been closed from 1 October 2026, was scheduled to reopen from 1 November 2026.
The board also approved the appointment of Anu Mehta as Senior Management Personnel with effect from 1 December 2026, replacing Poonam Sharma following her superannuation from the company’s services with effect from 30 November 2026. The same-day filings did not announce a dividend or a fund raise.
How did HeidelbergCement India shares react?
After the filing appeared, the stock was down 2.4% after five minutes, 1.9% after 15 minutes and 0.4% after 30 minutes. On the reaction day, it closed 0.8% below its pre-results close; by the next day’s close, it was down 3.9% from that pre-results close.
The industry median moved up 0.2% on the reaction day and was down 1.1% by the next day’s close. HeidelbergCement India therefore underperformed the sector by 1.0 percentage point on the reaction day and by 2.8 percentage points by the next day’s close. Earlier reaction-day moves ranged from a fall of 1.8% on 28 October 2024 to a rise of 3.2% on 29 October 2025.
| After the filing | Stock | Cement & Cement Products median |
|---|---|---|
| 5 minutes | −2.4% | |
| 15 minutes | −1.9% | |
| 30 minutes | −0.4% | |
| Reaction day | −0.8% | +0.2% |
| Next day | −3.9% | −1.1% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 29 July 2026 | −0.2% |
| 25 May 2026 | +2.0% |
| 6 February 2026 | −0.2% |
| 29 October 2025 | +3.2% |
| 29 July 2025 | +2.6% |
| 28 May 2025 | −1.2% |
| 30 January 2025 | +1.8% |
| 28 October 2024 | −1.8% |
Source: MarketPing price-reaction measurement.
How did other Cement & Cement Products companies do?
Nineteen other Cement & Cement Products companies filed for the quarter, and their median revenue growth was 13.5%, compared with HeidelbergCement India’s 11.0% growth. Among the peers, nine grew revenue more slowly than HeidelbergCement India and ten grew faster.
Nine of the 19 peers reported higher profit. The peer comparison was as of 4 November 2026, and HeidelbergCement India is excluded from the peer counts.
| HeidelbergCement India revenue growth (YoY) | +11.0% |
|---|---|
| Median of 19 other Cement & Cement Products companies | +13.5% |
| Companies with slower revenue growth than HeidelbergCement India | 9 of 19 |
| Companies with faster revenue growth than HeidelbergCement India | 10 of 19 |
| Companies whose net profit rose | 9 of 19 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was HeidelbergCement India's revenue in Q2 FY27?
Revenue from operations was ₹567.78 crore, up 11.0% from ₹511.66 crore in Q2 FY26 (standalone).
Did HeidelbergCement India make a profit in Q2 FY27?
Yes. Net profit was ₹16.77 crore, against a net profit of ₹24.93 crore in Q2 FY26.
What was HeidelbergCement India's EPS in Q2 FY27?
Basic earnings per share were ₹0.74, against ₹1.10 in Q2 FY26.
How did HeidelbergCement India shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.8% from the previous close; the median Cement & Cement Products stock moved +0.2%.
When did HeidelbergCement India announce its Q2 FY27 results?
On 29 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of Date Of Board Meeting For Approving The Unaudited Financial Results (BSE, 23 October 2026) · PDF
- Outcome Of Board Meeting Dated 29.10.2026 (BSE, 29 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Dated 29.10.2026 (BSE, 29 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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