| Quarterly Financials | Jun 2018 | Sept 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sept 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sept 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
Revenue  | 1,595 | 1,814 | 1,902 | 1,389 | 856 | 599 | 421 | 417 | 279 | 339 | 345 | 406 | 436 | 543 | 612 | 691 | 743 | 618 | 570 | 659 | 739 | 677 | 592 | 611 | 613 | 631 | 590 | 590 | 700 | 819 |
| Expenses | 399 | 425 | 552 | 559 | 469 | 425 | 389 | 872 | 245 | 365 | 321 | 385 | 341 | 376 | 441 | 516 | 538 | 419 | 398 | 493 | 520 | 512 | 476 | 506 | 533 | 471 | 412 | 608 | 512 | 581 |
| EBITDA | 1,196 | 1,389 | 1,351 | 830 | 387 | 174 | 32 | -455 | 35 | -26 | 24 | 20 | 95 | 167 | 171 | 174 | 205 | 198 | 172 | 166 | 219 | 165 | 117 | 105 | 80 | 160 | 179 | -18 | 189 | 238 |
| Operating Profit % | 75 % | 76 % | 70 % | 59 % | 43 % | 25 % | 1 % | -133 % | -5 % | -13 % | -0 % | -1 % | 18 % | 27 % | 26 % | 23 % | 25 % | 30 % | 25 % | 20 % | 23 % | 17 % | 15 % | 8 % | 7 % | 17 % | 14 % | -12 % | 17 % | 17 % |
| Depreciation | 18 | 18 | 19 | 18 | 18 | 18 | 18 | 19 | 18 | 18 | 19 | 19 | 19 | 18 | 21 | 21 | 21 | 23 | 25 | 33 | 38 | 39 | 47 | 50 | 48 | 48 | 51 | 55 | 53 | 54 |
| Interest | 2 | 5 | 4 | 6 | 9 | 10 | 9 | 9 | 6 | 3 | 1 | 1 | 1 | 1 | 4 | 1 | 4 | 7 | 8 | 7 | 9 | 9 | 10 | 9 | 9 | 9 | 9 | 12 | 8 | 9 |
| Profit Before Tax | 1,177 | 1,366 | 1,329 | 806 | 360 | 146 | 6 | -483 | 11 | -47 | 4 | 1 | 75 | 148 | 146 | 152 | 180 | 168 | 139 | 125 | 172 | 118 | 59 | 46 | 24 | 103 | 119 | -85 | 128 | 175 |
| Tax | 401 | 463 | 463 | 324 | 117 | -56 | 7 | -106 | -3 | -32 | 5 | 17 | 18 | 17 | 32 | 23 | 21 | -1 | 34 | 25 | 33 | 22 | 16 | 14 | 1 | 20 | 35 | -11 | 23 | 32 |
| Net Profit | 776 | 903 | 866 | 482 | 244 | 202 | -1 | -377 | 14 | -15 | -1 | -16 | 57 | 132 | 114 | 129 | 159 | 169 | 105 | 100 | 139 | 96 | 44 | 33 | 23 | 82 | 83 | -74 | 105 | 143 |
| EPS in ₹ | 194.11 | 225.93 | 216.58 | 124.96 | 63.08 | 52.42 | -0.32 | -97.67 | 3.71 | -3.98 | -0.21 | -4.17 | 14.71 | 34.07 | 29.40 | 33.49 | 41.20 | 43.77 | 27.13 | 25.84 | 36.05 | 24.87 | 11.32 | 8.53 | 5.97 | 21.48 | 4.32 | -3.82 | 5.43 | 7.43 |
HEG
HEG
520.10
+3.15
(0.61%)
Key Fundamentals
Market Cap
10,036.76 Cr
EPS
5.96
PE Ratio
38.66
Dividend Yield
0.35 %
Industry
Industrial Products 52 Week High
619.50
52 Week Low
331.25
PB Ratio
2.14
Debt to Equity
0.14
Sector
Electrodes & Refractories Analyst Rating and Forecast
- By Refinitiv from2 analysts
Actual
Company News
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HEG Limited Reports Strong Q2 Performance with 90% Capacity Utilization Despite Industry Challenges
2 days ago
2 days agoHEG Limited recorded revenue of INR 697 crores and EBITDA of INR 226 crores in Q2FY26, driven entirely by higher sales volumes while maintaining 90% capacity utilization amid challenging graphite electrode market conditions. The company remains debt-free with treasury of INR 1,167 crores and announced a 15,000-ton capacity expansion worth INR 650 crores to be completed by 2027, while progressing with its demerger process expected to receive NCLT approval by April 2026.
HEG management expressed confidence about receiving exchange approval for their demerger proposal, which will then be submitted to the National Company Law Tribunal (NCLT). The company anticipates receiving NCLT approval by April 2026.
HEG Limited Reports Financial Results for Quarter Ended September 30, 20258 days ago
HEG Limited, the world's largest single-site graphite electrode plant, shared its financial results for the quarter ended September 30, 2025. The company operates with a capacity of 100,000 tons since November 2023 and exports approximately 65-70% of its production to about 35 countries. HEG announced plans to expand capacity by another 15,000 tons to reach 115,000 tons by end of 2027. The company highlighted challenging market conditions, with global crude steel production falling 1.5% year-over-year in the first nine months of 2025. China's weak domestic demand led to increased steel exports, putting downward pressure on steel and electrode prices. India remained a bright spot with 10.5% growth in crude steel production. The company noted that graphite electrode demand remains soft due to overall global production weakness, with spot market prices under sustained pressure.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
568.55 | #1 11,108.08 | 49.23 | 2,998.50 | -7.85 | #1 458 | -60.82 | 47.79 | |
520.10 | #2 10,036.76 | #4 38.66 | #3 2,287.30 | #9 -9.83 | #4 115 | #2 74.12 | 45.65 | |
481.05 | 9,933.75 | 63.35 | #1 3,700.60 | -2.41 | 203 | -16.56 | 55.80 | |
481.20 | 9,766.47 | 40.04 | 1,550.71 | -19.11 | 184 | -10.22 | 41.57 | |
1,054.85 | 4,843.02 | 101.58 | 201.00 | #1 51.01 | 37 | 56.82 | 81.44 | |
223.52 | 1,611.10 | 55.45 | 1,670.40 | 0.73 | 43 | 4.96 | 32.41 | |
1,571.10 | 879.84 | 35.14 | 113.80 | 0.98 | 16 | -1.12 | 49.14 | |
43.34 | 518.52 | 29.61 | 331.00 | 4.61 | 10 | #1 294.74 | 73.80 | |
718.70 | 381.53 | 148.55 | 74.40 | -5.82 | 2 | 18.18 | 28.99 | |
496.65 | 238.39 | #1 10.83 | 65.80 | 6.65 | 21 | 18.00 | 55.19 |
Growth Rate
Revenue Growth
-9.83 %
Net Income Growth
-63.07 %
Cash Flow Change
-54.31 %
ROE
-63.35 %
ROCE
-54.05 %
EBITDA Margin (Avg.)
-19.02 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 2,246 | 1,953 | 1,853 | 2,739 | 5,144 | 4,438 | 4,244 | 5,308 | 5,692 | 5,701 | 5,648 |
| Fixed Assets | 907 | 935 | 889 | 833 | 788 | 745 | 694 | 763 | 1,363 | 1,816 | 1,938 |
| Current Assets | 926 | 735 | 701 | 1,615 | 3,436 | 2,059 | 2,074 | 3,007 | 2,853 | 2,630 | 2,457 |
| Capital Work in Progress | 108 | 27 | 1 | 2 | 19 | 101 | 373 | 696 | 472 | 212 | 71 |
| Investments | 0 | 225 | 231 | 248 | 942 | 1,245 | 1,358 | 1,171 | 859 | 1,200 | 1,400 |
| Other Assets | 1,232 | 767 | 732 | 1,656 | 3,396 | 2,348 | 1,819 | 2,678 | 2,998 | 2,474 | 2,238 |
| Total Liabilities | 2,246 | 1,953 | 1,853 | 2,739 | 5,144 | 4,438 | 4,244 | 5,308 | 5,692 | 5,701 | 5,648 |
| Current Liabilities | 878 | 745 | 698 | 707 | 1,218 | 817 | 644 | 1,287 | 1,316 | 1,168 | 1,086 |
| Non Current Liabilities | 354 | 212 | 202 | 125 | 133 | 110 | 105 | 107 | 95 | 108 | 109 |
| Total Equity | 1,014 | 996 | 953 | 1,908 | 3,794 | 3,512 | 3,495 | 3,914 | 4,281 | 4,426 | 4,454 |
| Reserve & Surplus | 974 | 956 | 913 | 1,868 | 3,755 | 3,473 | 3,457 | 3,875 | 4,242 | 4,387 | 4,415 |
| Share Capital | 40 | 40 | 40 | 40 | 39 | 39 | 39 | 39 | 39 | 39 | 39 |
Cash Flow
| Cash Flow | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | -8 | 1 | 3 | -3 | 24 | 4 | -11 | 20 | -8 | 104 | -86 |
| Investing Activities | -83 | -29 | -1 | -9 | -676 | -276 | -417 | -183 | -21 | -184 | -207 |
| Operating Activities | 277 | 249 | 157 | 594 | 1,488 | 739 | 716 | -141 | 113 | 612 | 280 |
| Financing Activities | -202 | -220 | -153 | -588 | -789 | -460 | -310 | 344 | -100 | -324 | -159 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
| Promoter | 59.62 % | 59.62 % | 55.13 % | 55.13 % | 55.13 % | 55.13 % | 55.13 % | 55.13 % | 55.78 % | 55.78 % | 55.78 % | 55.78 % | 55.78 % | 55.78 % | 55.78 % | 55.78 % | 55.78 % | 55.78 % | 55.78 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 6.86 % | 6.05 % | 6.92 % | 7.08 % | 7.19 % | 7.30 % | 7.96 % |
| DIIs | 7.40 % | 7.48 % | 7.50 % | 7.49 % | 8.19 % | 8.44 % | 8.46 % | 6.69 % | 6.27 % | 6.81 % | 6.50 % | 8.09 % | 10.39 % | 13.10 % | 12.81 % | 12.09 % | 11.65 % | 11.60 % | 11.98 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 18.14 % | 17.06 % | 14.47 % | 15.32 % | 19.00 % | 20.91 % | 22.16 % | 24.34 % | 23.60 % | 21.70 % | 21.79 % | 19.21 % | 18.15 % | 16.61 % | 16.10 % | 17.04 % | 17.33 % | 16.95 % | 15.99 % |
| Others | 14.83 % | 15.83 % | 22.90 % | 22.05 % | 17.68 % | 15.51 % | 14.24 % | 13.84 % | 14.35 % | 15.70 % | 15.93 % | 16.91 % | 8.81 % | 8.46 % | 8.39 % | 8.01 % | 8.05 % | 8.37 % | 8.28 % |
| No of Share Holders | 1,38,975 | 1,42,607 | 1,26,009 | 1,27,059 | 1,43,578 | 1,45,488 | 1,47,246 | 1,52,118 | 1,48,269 | 1,35,519 | 1,37,342 | 1,32,662 | 1,29,905 | 1,19,399 | 1,18,471 | 1,52,166 | 1,53,063 | 1,48,036 | 1,41,576 |
Dividend History
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 0.00 | 80 | 80 | 25 | 3 | 40 | 42.5 | 22.5 | 1.8 |
| Dividend Yield (%) | 0.00 | 0.00 | 19.11 | 82.64 | 8.54 | 1.09 | 21.72 | 11.52 | 4.66 | 0.35 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 21 Jul 2021 |  Dividend | ₹ 3.00 /share | 19 Jul 2021 | 470.65 | 439.00 |
| 26 Aug 2022 | Dividend | ₹ 40.00 /share | 24 Aug 2022 | 209.63 | 257.74 |
| 25 Aug 2023 | Dividend | ₹ 42.50 /share | 24 Aug 2023 | 244.90 | 351.65 |
| 01 Aug 2024 | Dividend | ₹ 22.50 /share | 31 Jul 2024 | 513.55 | 444.87 |
| 07 Aug 2024 |  Annual General Meeting | NA | 07 Aug 2024 | 450.69 | 398.28 |
| 13 Aug 2024 |  Split | 2:10 | 18 Oct 2024 | 420.13 | 420.13 |
| 13 Nov 2024 |  Quarterly Result Announcement | NA | 13 Nov 2024 | 494.82 | 416.30 |
| 11 Feb 2025 | Quarterly Result Announcement | NA | 11 Feb 2025 | 424.05 | 365.75 |
| 19 May 2025 | Quarterly Result Announcement | NA | 19 May 2025 | 473.75 | 490.60 |
| 30 Jul 2025 | Quarterly Result Announcement | NA | 30 Jul 2025 | 505.15 | 525.35 |
| 13 Aug 2025 | Dividend | ₹ 1.80 /share | 13 Aug 2025 | 490.60 | 507.00 |
| 20 Aug 2025 | Annual General Meeting | NA | 20 Aug 2025 | 503.25 | 509.55 |
| 10 Nov 2025 | Quarterly Result Announcement | NA | 10 Nov 2025 | 521.35 | 549.50 |
Announcements
Announcement under Regulation 30 (LODR)-Earnings Call Transcript2 days ago
2 days agoRTA Report On Re-Lodgment Of Transfer Requests Of Physical Shares.5 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome7 days ago
7 days agoClarification On Volume Movement By The Company7 days ago
7 days agoClarification sought from HEG Ltd7 days ago
7 days agoAnnouncement under Regulation 30 (LODR)-Investor Presentation8 days ago
8 days agoAnnouncement under Regulation 30 (LODR)-Newspaper Publication8 days ago
8 days agoAddition Of Shri Puneet Anand President & Group Chief Strategy Officer W.E.F Dec 1 2025 In Addition To Existing KMPs For The Purpose Of Determining Materiality Of An Event/Information As Per Regulation 30(5) Of The SEBI (LODR) Regulations 2015.9 days ago
9 days agoAnnouncement Under Regulation 30 With Regard To GST9 days ago
9 days agoApproval For The Proposed Subscription Of Unsecured Unlisted Optionally Convertible Debentutes Of TACC Limited (Wholly Owned Subsidiary Company)9 days ago
9 days agoSale Of Stake Held By Bhilwara Infotechnology Limited Awholly Owned Subsidiary Company In Texnere India Private Limited9 days ago
9 days agoAnnouncement under Regulation 30 (LODR)-Change in Management9 days ago
9 days agoUnaudited Financial Results For Quarter And Half Year Ended 30 September 20259 days ago
9 days agoBoard Meeting Outcome for Outcome Of Board Meeting9 days ago
9 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 04, 2025
Nov 04, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationNov 03, 2025
Nov 03, 2025Board Meeting Intimation for Consider Approve And Take On Record The Un-Audited Financial Results (Standalone & Consolidated) Of The Company For The Quarter And Half Year Ended The 30Th September2025.Oct 17, 2025
Oct 17, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseOct 15, 2025
Oct 15, 2025Disclosure Pursuant To Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 - Update On Wholly Owned SubsidiaryOct 15, 2025
Oct 15, 2025RTA Report On Re-Lodgment Of Transfer Requests Of Physical Shares.Oct 07, 2025
Oct 07, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 06, 2025
Oct 06, 2025Closure of Trading WindowSep 25, 2025
Sep 25, 2025APPROVAL FOR GRANT OF INTER-CORPORATE UNSECURED LOAN TO BHILWARA ENERGY LIMITED AN ASSOCIATE COMPANYSep 23, 2025
Sep 23, 2025Board Meeting Outcome for Outcome Of Board Meeting Dated September 23 2025.Sep 23, 2025
Sep 23, 2025Minutes Of 53Rd Annual General MeetingSep 15, 2025
Sep 15, 2025RTA Report On Re-Lodgment Of Transfer Requests Of Physical Shares.Sep 10, 2025
Sep 10, 2025Disclosure Under Regulation 30 Of SEBI (LODR) Regulations 2015Sep 09, 2025
Sep 09, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseSep 09, 2025
Sep 09, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationSep 05, 2025
Sep 05, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationSep 03, 2025
Sep 03, 2025Intimation With Respect To Transfer Of Equity Shares Under Section 124(6) Of The Companies Act 2013 To The Investor Education And Protection Fund (IEPF) Authority.Sep 01, 2025
Sep 01, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseAug 30, 2025
Aug 30, 2025Compliance Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015.
Aug 21, 2025
Aug 21, 2025Announcement under Regulation 30 (LODR)-Dividend UpdatesAug 21, 2025
Aug 21, 2025Compliance Under Regulation 44(3) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015Aug 21, 2025
Aug 21, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportAug 21, 2025
Aug 21, 2025Proceedings Of 53Rd Annual General Meeting Of The Company Pursuant To Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015.Aug 20, 2025
Aug 20, 2025Proceeding Of 53Rd Annual General Meeting Of The CompanyAug 20, 2025
Aug 20, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMAug 20, 2025
Aug 20, 2025Assignment Of ESG Rating By CRISIL ESG RatingsAug 19, 2025
Aug 19, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseAug 13, 2025
Aug 13, 2025Report Of RTA For The Month Of July 2025 Pursuant To SEBI Circular Dated 2Ndjuly 2025Aug 12, 2025
Aug 12, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 08, 2025
Aug 08, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Investor PresentationAug 02, 2025
Aug 02, 2025Clarification On Movement In VolumeAug 01, 2025
Aug 01, 2025Clarification sought from HEG LtdAug 01, 2025
Aug 01, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 31, 2025
Jul 31, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 30, 2025
Jul 30, 2025Board Comments On Fine Levied By The ExchangeJul 30, 2025
Jul 30, 2025Mutual Fund Holdings
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RSI(14)
Neutral 44.22
ATR(14)
Less Volatile 20.63
STOCH(9,6)
Oversold 10.58
STOCH RSI(14)
Oversold 2.84
MACD(12,26)
Bearish -6.16
ADX(14)
Strong Trend 25.37
UO(9)
Bullish 29.28
ROC(12)
Downtrend And Accelerating -12.21
WillR(14)
Oversold -88.76
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