FrontPage is India's Stock Market Social Network
Join 50,000+ Traders and Investors

HEIDELBERG Consensus Forecast

No. of reports in last year
1
No. of analysts
1
Average Consensus Forecast
191
Consensus Potential
-39.27%

HEIDELBERG Price Target Potential

BrokerageTargetPotential

HEIDELBERG Targets in FrontPage Forums

5 Users have submitted 5 trade ideas of Rs. 233,636.3 for HEIDELBERG
100% Bullish
0% Bearish
See buy or sell ideas on FrontPage Forums >>

HEIDELBERG Ratings

Long term HEIDELBERG rating by FrontPage users
4.3/5 (4 Ratings)

1 HEIDELBERG share price target reports by brokerages below. See what is analyst's view on HEIDELBERG share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
  1. Home
  2. HEIDELBERG Forum
  3. HEIDELBERG Price Target

HEIDELBERG Share Price Target

HEIDELBERG Share Price Target - Broker Reports - 2020

24-Jul-20
Price @ Call: 173.38
Target: 191
ACCUMULATE
HEIM’s EBITDA/EPS grew at a CAGR of 25%/66% over FY16-FY20, predominantly led by strong revival in region’s pricing. EBITDA/t grew at CAGR of 23% while volumes grew marginally by 1.4% due to lack of capacity. Strong prices in the region has resulted in meaningful surge in volumes from other regions. Admittedly, increased competition from other regions and new capacities added in the Central region would bring down realisations in the region. However, we believe that HEIM’s recently added 1mnt capacity (equivalent to 20%) in Q4FY20 and ongoing cost reduction programs would materially offset the impact of softness in realisations. Driven by quality operations and strong outlook on the central region, we maintain ACCUMULATE rating with TP of Rs191, EV/EBITDA of 7x FY22e.
... Read more
14-Feb-20
Price @ Call: 196.5
Target: 215
HOLD
HEIM’s EBITDA/EPS grew at a CAGR of 26%/68% over FY16-FY20, predominantly led by strong revival in region’s pricing. EBITDA/t grew at CAGR of 23% while volumes grew marginally at a rate of 2.5%. Region is going to see sizeable capacity addition (12-14mnt) over next couple of years coupled with entry of three new players. HEIM is expanding capacity by 15% to 6.3mnt (to become operational by Q4FY20 in phases) through debottlenecking. However, we believe that contraction in margins would offset volume growth largely. Hence, we expect EPS to grow at a CAGR of 2% over FY20e-FY22e. Given the peaked out margins and slow earnings growth, we downgrade the stock to Hold with TP of Rs215, EV/EBITDA of 8.5x FY21e.
... Read more

HEIDELBERG Share Price Target - Broker Reports - 2019

31-Oct-19
Price @ Call: 186.36
Target: 215
ACCUMULATE
Heidelberg cement (HEIM) reported EBITDA below ours/consensus estimates by 2%/5%. Miss was primarily due to higher than expected energy cost (purchased higher power from grid) partially offset by better than expected realisations. Unitary EBITDA rose 16% YoY to Rs1,060 (PLe:Rs1,140). Exhaustion of capacity remains Achilles heel for HEIM. To address the same, it is expanding capacity by 0.5mnt through debottlenecking which would support 4-5% YoY growth in volumes for next couple of years. In addition, it is also exploring inorganic route to expand volumes. Despite exhausted capacity, HIEM maintained its strong earnings growth trajectory on the back of steep increase in margins. Led by better outlook on Central region, quality operations and attractive valuations, we maintain Accumulate with TP of Rs215, EV/EBITDA of 8.5x FY21e.
... Read more
2-Aug-19
Price @ Call: 187.68
Target: 245
ACCUMULATE
At a CMP of INR 194, the stock trades at an EV per tonne of USD 101 on FY21E capacity. As the central region is expected to witness the least capacity addition, we believe pricing power for the region to sustain. Further, we expect HEIM to turn net cash company by end- FY20. Therefore, we remain positive and reiterate Buy, with a TP of INR 245 on EV per tonne of 130 on FY21E capacity.
... Read more
1-Aug-19
Price @ Call: 192.45
Target: 220
ACCUMULATE
Despite exhausted capacity, HIEM maintained its strong earnings growth trajectory on the back of steep increase in margins. Led by better outlook on Central region, quality operations and attractive valuations, we maintain Accumulate with TP of Rs220, EV/EBITDA of 9x FY21e.
... Read more
4-Jul-19
Price @ Call: 203.22
Target: 263
BUY
5-Jun-19
Price @ Call: 211.4
Target: 245
BUY
HEIM’s robust performance in FY19 is attributable to healthy sales volume, superior realisation and cost saving measures. Looking ahead, we expect visible de-leveraging of balance-sheet (net debt at mere Rs1.8bn currently) and healthy operating efficiencies to result in the best return ratios vis-à-vis its comparable peers. Expecting HEIM to sort out the capacity constraint issues in due course, we maintain our BUY recommendation on the stock with a revised Target Price of Rs245 (9x FY21 EBITDA).
... Read more
6-Jun-19
Price @ Call: 211.85
Target: 235
BUY
We remain positive on demand outlook in Central region on the back of strong government spending in rural and affordable housing/infrastructure sector and better sentiments compared to other regions. To factor increased realisations, we upgrade our EBITDA estimates by 6.3%/10.5% for FY20e/FY21e. Led by strong outlook in Central region, quality operations and attractive valuations, we reiterate BUY with TP of Rs235 (Earlier Rs214), EV/EBITDA of 10x FY21e.
... Read more
31-May-19
Price @ Call: 208.05
Target: 220
HOLD
Heidelberg continues to have a strong retail presence. With firm pricing in its region led by efficient operations of Heidelberg Cement India, we maintain a positive outlook on the company’s profitability. However, capacity issues for the longer term would continue to persist. Considering rich valuations, the upside, however, remains limited. Valuing the company at 9.5x FY21E EV/EBITDA, we have a HOLD rating with a TP of Rs 220/share.
... Read more
25-Feb-19
Price @ Call: 150.75
Target: 189
BUY
The company is operating with an installed cement manufacturing capacity of 5.4 MTPA. The company has sustainable business model wherein the company is also taking various measures for uninterrupted operations and cost reduction, which clearly states that the margins shall be in intact. HeidelbergCement India Ltd is currently trading at EV/EBITDA of 6.16x of FY20E. We maintain the ‘BUY’ rating valuing at 7.7x EV/EBITDA (5 years average forward multiple) on FY20E EBITDA for the target price of Rs.189, representing an upside of 24%, for next 12 to 15 months. Key risks are increase in raw material cost and power & fuel cost.
... Read more
14-Feb-19
Price @ Call: 147.81
Target: 165
BUY
The company has consistently put up a good performance over the past year led by a healthy pricing environment, higher presence in the trade segment along with steps taken by the management to lower the power cost through WHRS. With firm pricing in the central region along with a decline in prices of major fuels like petcoke, we expect a healthy margin trajectory to continue, going forward, as well. Consequently, we maintain our BUY rating with a target price of | 165 [i.e. valuing at 8x FY20E EV/EBITDA (@20% discount to its peers), $125/tonne on capacity of 5.4 MT]. As the company is expected to reach its peak utilisation levels by FY20E, growth would moderate, going forward, unless it is addressed with the new capacity.
... Read more
14-Feb-19
Price @ Call: 148
Target: 177
BUY
HeidelbergCement India (HEIM) reported a strong performance in 3QFY19 driven by higher realisation which was up ~8.5% YoY/flat QoQ at Rs4,316/tn (better thanour estimate) because of higher trade sales and contribution from premium products (~9% in total sales). This was accompanied by volume gain of ~6% YoY at 1.29mnmt backed by strong demand in Uttar Pradesh (UP), HEIM’s key market, as Madhya Pradesh (MP) took a breather because of assembly elections. Effectively, revenues grew ~15% YoY to ~Rs5.58bn (above our estimate). Commendably, operating costs stayed flat YoYat Rs3,411/tn following cost control measures by HEIM with focus on energy (contribution from waste heat recovery system or WHRS) and logistics expenditure (Rs38mn railway rebate). Effectively, EBITDA grew ~59% YoY to ~Rs1.22bn driven by realisation gains and controlled cost inflation (9MFY19 EBITDA grew 55% YoY). EBITDA margin jumped by 600bps YoY from 15.7% in 3QFY18 to 21.7% in 3QFY19 (primarily driven by realisation gain). The robust performance led HEIM to report EBITDA/mt of Rs947, up ~50% YoY but down 9% QoQ (below our estimate of Rs1,066/tn). This is the third consecutive quarter of EBITDA/tn hovering ~Rs1,000 for HEIM. With no surprises in depreciation and lower interest expenses, APAT doubled YoY from Rs276mn to Rs586mn in 3QFY19. HEIM had a consistent strong performance for the past four quarters. The presence in relatively better pricing regions like Central India, focus on retail segment sales (trade segment) and cost benefits from the combination of effective measures taken by HEIM and synergies of scale will continue to guard its earnings. We still believe HEIM has limited headroom for incremental cement despatches as it moves upwards of 90% capacity utilisation and may only retain its existing market share (even lose market share), and the realisation gain that helps cost inflation pass-through will continue to be stronger and guard HEIM’s earnings. This has prompted us to revise our EPS estimates upwards for FY19/FY20/FY21 to Rs9.8/Rs11.5/Rs12.8, respectively, (Rs8.1/Rs10.2/Rs11.5, respectively, earlier). Factoring in the same and assigning the replacement cost valuation of Rs7.5bn/mnmt (taking away the 12% discount assigned earlier) based on September 2020E forward capacity, we have arrived at a fair value for HEIM that encourages us to upgrade the rating on the stock to Buy (from Accumulate earlier) with a revised target price (TP) of Rs177 (from Rs151 earlier). At our TP, the stock trades at EV/EBITDA of 6.7x September 2020E earnings.
... Read more
13-Feb-19
Price @ Call: 147.29
Target: 190
BUY
Heidelberg cement (HEIM) reported strong set of Q3FY19 earnings. Led by better than expected realisations, EBITDA/t beat our estimates by over 9% at Rs875 (PLe:Rs800), up 41% YoY. HEIM maintained its strong hold on costs with increase limited to 2.5% YoY despite steep increase in pet coke and diesel costs. Optimisation of logistics, rationalization of employee cost and other fixed overheads, increase in share of power from Waste heat recovery (WHR) plant helped contain the cost. Market has apprehensions on HEIM’s volume growth due to absence of capacity expansion. However, we believe that it can easily show volume growth in the range of 4-5% for next couple of years through debottlenecking of capacity by 0.3mn-0.4mn tonnes and efficiency improvements.
We remain positive on the demand outlook in Central region on the back of strong govt spending on rural and affordable housing/infrastructure sector and better sentiments compared to other regions. Led by strong outlook on Central region, quality operations and attractive valuations, we reiterate BUY with TP of Rs190, EV/EBITDA of 9x FY21e.
... Read more

HEIDELBERG Share Price Target - Broker Reports - 2018

29-Oct-18
Price @ Call: 137.22
Target: 165
BUY
29-Oct-18
Price @ Call: 137.22
Target: 210
BUY
26-Oct-18
Price @ Call: 129.5
Target: 200
BUY
31-Jul-18
Price @ Call: 159.08
Target: 186
BUY
2-Aug-18
Price @ Call: 158.65
Target: 213
BUY
31-Jul-18
Price @ Call: 161
Target: 200
BUY
27-Jul-18
Price @ Call: 154.8
Target: 180
BUY
9-Apr-18
Price @ Call: 156.22
Target: 205
BUY
9-Feb-18
Price @ Call: 160.95
Target: 180
BUY
8-Feb-18
Price @ Call: 161.06
Target: 195
BUY

HEIDELBERG Share Price Target - Broker Reports - 2017

14-Dec-17
Price @ Call: 155.9
Target: 190
BUY
13-Nov-17
Price @ Call: 149.5
Target: 192
BUY
5-Jul-17
Price @ Call: 131
Target: 150
BUY
6-Jun-17
Price @ Call: 129
Target: 150
BUY
7-Jun-17
Price @ Call: 128.55
Target: 157
BUY
26-May-17
Price @ Call: 129
Target: 145
BUY
10-Feb-17
Price @ Call: 124
Target: 135
HOLD

HEIDELBERG Share Price Target - Broker Reports - 2016

25-May-16
Price @ Call: 98
Target: 105
BUY
16-Nov-16
Price @ Call: 112
Target: 88
SELL
16-Nov-16
Price @ Call: 113
Target: 124
HOLD
22-Sep-16
Price @ Call: 134.45
Target: 160
BUY
Join FrontPage
FrontPage is India's favorite stock discussions community
Join 2,00,000 Indian traders and discuss trades, strategies, news & views on any stock.
  • HEIDELBERG Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3270.17
    Upside Target 2267.33
    Upside Target 1263.92
    Pivot261.08
    Downside Target 1257.67
    Downside Target 2254.83
    Downside Target 3251.42
  • HEIDELBERG Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3288.33
    Upside Target 2281.87
    Upside Target 1271.18
    Pivot264.72
    Downside Target 1254.03
    Downside Target 2247.57
    Downside Target 3236.88
  • HEIDELBERG Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3280.12
    Upside Target 2272.58
    Upside Target 1262.62
    Pivot255.08
    Downside Target 1245.12
    Downside Target 2237.58
    Downside Target 3227.62
  • HEIDELBERG Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3267.33
    Upside Target 2264.95
    Upside Target 1263.47
    Pivot261.08
    Downside Target 1258.7
    Downside Target 2257.22
    Downside Target 3254.83
  • HEIDELBERG Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3281.87
    Upside Target 2275.32
    Upside Target 1271.27
    Pivot264.72
    Downside Target 1258.17
    Downside Target 2254.12
    Downside Target 3247.57
  • HEIDELBERG Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3272.58
    Upside Target 2265.9
    Upside Target 1261.77
    Pivot255.08
    Downside Target 1248.4
    Downside Target 2244.27
    Downside Target 3237.58
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
DISCLAIMER: Information is provided "as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and FrontPage will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein.
PrivacyTerms
FrontPage © 2020