In times of economic uncertainty and unpredictable market circumstances, investors frequently seek a safe haven in industries recognised for their stability and steady returns.
Investors looking for steady income from their investments frequently look to the best dividend-paying Indian stocks, since dividends have always been the best source of additional income for many investors.
Here are five such cement stocks with a high dividend yield.
Heidelberg Cement India Ltd
With a market cap of Rs. 4,829.12 crores, the dividend yield of the company is 3.28% and has given a dividend of Rs. 7 on 20th September 2023.
The share price of Heidelberg Cement India moved up by nearly 1.35 percent to Rs. 216.80 in the morning session on Wednesday, compared to its previous closing price of Rs. 213.85.
HeidelbergCement India witnessed a decrease in the net profit by 13.88 percent QoQ to Rs. 31 crore in Q3 FY23-24 from Rs. 36 crore in Q2 FY23-24. However, the company’s revenue from operations grew by around 7.24 percent QoQ from Rs. 566 crore in Q2 FY23-24 to Rs. 607 crore in Q3 FY23-24.
It has given over 15.1 percent returns in the last six months, and nearly 26.1 percent in the last one year. However, so far in 2024, it delivered negative returns of around 8.2 percent.
Heidelberg Cement India is the Indian subsidiary of HeidelbergCement Group, Germany and is one of the world’s largest integrated manufacturers of building materials.
Shree Digvijay Cement Co. Ltd
The share price of the company jumped by nearly 1.04 percent to Rs. 110.7 on February 22nd, compared to its previous closing price of Rs. 109.55.
The dividend yield of Shree Digvijay Cement is 3.61% and has given a dividend of Rs. 2.50 on 21st June 2023. The cement stock has delivered returns of over 10.1 percent in the last six months, and nearly 64.3 percent in the last one year. So far in 2024, it delivered positive returns of around 11.2 percent.
The company’s net profit increased by 342.85 percent QoQ to Rs. 31 crore in Q3 FY23-24 from Rs. 7 crore in Q2 FY23-24, and the revenue from operations grew by around 4.37 percent QoQ from Rs. 183 crore in Q2 FY23-24 to Rs. 191 crore in Q3 FY23-24.
Started its operations in 1944, Shree Digvijay Cement Co. Ltd. is one of the pioneers in manufacturing cement in India and is presently a part of True North formerly known as India Value Fund Advisers (IVFA).
Hil Limited
The dividend yield of Hil Limited is 1.60% and has given a dividend of Rs. 15.0 on 14th February 2024. Earlier, the company had given a dividend of Rs. 25.0 on 21st July 2023.
The share price of the company jumped by nearly 1.21 percent on BSE to Rs. 2,854.35 on Thursday, compared to its previous closing price of Rs. 2,820.15.
It has delivered negative returns of over 7.70 percent in the last six months, as well as around 1.57 percent of negative returns, so far in 2024. However, the company has given positive returns of nearly 21.0 percent in the last one year.
With a market cap of Rs. 2,128 crore, the company’s revenue from operations grew by around 8.43 percent QoQ from Rs. 723.22 crore in Q2 FY23-24 to Rs. 784.24 crore in Q3 FY23-24.
Established in 1946, HIL Limited, a flagship company of CK Birla Group, is one of the leading companies in the building materials and construction industry.
NCL Industries Ltd
With a market cap of Rs. 1,055 crores, the dividend yield of the company is 1.27% and has given a dividend of Rs. 1.5 on 15th September 2023.
The company declared an Interim dividend of Rs. 1.5 per share equating to a 15 percent payout as compared to the face value of Rs. 10. The ex-dividend date has been fixed as 21st February 2024.
The share price of NCL Industries moved up by nearly 0.67 percent to Rs. 238.75 in the morning session of Thursday, compared to its previous closing price of Rs. 237.15.
The company’s net profit by 78.57 percent QoQ to Rs. 25 crore in Q3 FY23-24 from Rs. 14 crore in Q2 FY23-24, whereas, the company’s revenue from operations grew by around 17.16 percent QoQ from Rs. 431 crore in Q2 FY23-24 to Rs. 505 crore in Q3 FY23-24.
It has given positive returns of around 0.43 percent in the last six months, and nearly 35.09 percent in the last one year. So far in 2024, the company has given more than 3.2 percent of returns.
Incorporated in 1979, NCL Industries Ltd. is mainly engaged in the business of manufacturing and selling cement, ready mix concrete, cement bonded particle boards, and doors, along with operating two Small Hydro Power (SHP) projects.
Kakatiya Cement Sugar & Industries Ltd
The share price of the company jumped by nearly 7.0 percent to Rs. 244.0 in the morning session of Wednesday, compared to its previous closing price of Rs. 228.05.
The dividend yield of Kakatiya Cement Sugar & Industries is 1.33% and has given a dividend of Rs. 3.0 on 18th September 2023. The stock has delivered returns of over 13.3 percent in the last six months, and nearly 21.8 percent in the last one year. So far in 2024, it delivered negative returns of around 8.55 percent.
The company’s net profit decreased by 257.77 percent QoQ from Rs. 1.8 crore in Q2 FY23-24 to a loss of Rs. 2.84 crore in Q3 FY23-24. However, the revenue from operations grew by around 24.64 percent QoQ from Rs. 37.73 crore in Q2 FY23-24 to Rs. 47.03 crore in Q3 FY23-24.
Kakatiya Cement Sugar & Industries Limited (KCSIL), previously known as Kakatiya Cements Limited, was incorporated in 1979 for the manufacture of Ordinary Portland Cement. The company presently engages in deals in all kinds of Portland Cement, sugar, generation and distribution of power.
Written by Shivani Singh
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