HEIDELBERG

Q4 2025 Result Analysis

reported a modest performance in Q4FY25, with sales volumes up 1.9% YoY and revenue growing by 2.7% to ₹6,125 million. EBITDA saw a marginal 2% rise, and PAT increased by 4.7% to ₹504 million. However, profitability metrics remained largely flat, as seen in the minimal change in EBITDA per tonne and a slight drop in EBITDA margin by 10 basis points to 14.8%. For the full year FY25, performance weakened significantly. Sales volumes declined by 6.1% and revenue dropped by 9.2% to ₹21,489 million. EBITDA fell by 24.4% and PAT dropped steeply by 36.4% to ₹1,068 million. EBITDA per tonne also shrank by nearly 20%. However, the company maintained a strong balance sheet, ending the year with ₹4,536 million in cash and bank balance, against interest-free borrowings of ₹687 million. Conclusion: While Q4FY25 performance showed stability, FY25 as a whole reflects a challenging year for Heidelberg Cement India, marked by volume and margin pressure. Despite weak operational metrics for the year, the company’s debt-free position and strong cash reserves provide financial resilience going forward.