About
HEG Limited manufactures and sells graphite electrodes in India and internationally. The company operates through two segments, Graphite Electrodes and Power Generation segments. It provides ultra-high power, high power, and regular power electrodes; graphite electrodes and nipples; blocks and rounds; graphite and carbon specialties; mini-rods; flux and heat exchanger tubes; and custom machined components. The company operates thermal power plants and a hydroelectric power facility. It serves refractory solutions, iron and steel, aluminum, chemical, metallurgy, electrochemical, power, cement, and glass industries. HEG Limited was incorporated in 1972 and is headquartered in Noida, India.
Key Metrics
as of Sep 2026Market Cap14,041 Cr
P/E39.60
Div Yield0.47 %
Book Value₹247.00
52w High₹754.00
52w Low₹471.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 681.00 | 603.00 | 656.00 | 699.00 | 613.00 | 537.00 | 478.00 | 568.00 | 571.00 | 547.00 | 562.00 | 614.00 | 671.00 |
| Expenses | 530.00 | 752.00 | 513.00 | 581.00 | 507.00 | 598.00 | 411.00 | 471.00 | 533.00 | 506.00 | 476.00 | 512.00 | 520.00 |
| Operating Profit | 151.00 | -148.00 | 143.00 | 118.00 | 106.00 | -61.00 | 67.00 | 97.00 | 39.00 | 41.00 | 87.00 | 102.00 | 151.00 |
| OPM % | 22.00 | -25.00 | 22.00 | 17.00 | 17.00 | -11.00 | 14.00 | 17.00 | 7.00 | 8.00 | 15.00 | 17.00 | 23.00 |
| Other Income | 74.00 | 72.00 | 167.00 | 120.00 | 82.00 | 43.00 | 112.00 | 63.00 | 41.00 | 64.00 | 30.00 | 63.00 | 68.00 |
| Depreciation | 50.00 | 53.00 | 54.00 | 54.00 | 53.00 | 55.00 | 51.00 | 48.00 | 48.00 | 50.00 | 47.00 | 38.00 | 38.00 |
| Interest | 10.00 | 11.00 | 9.00 | 9.00 | 8.00 | 12.00 | 9.00 | 9.00 | 8.00 | 9.00 | 10.00 | 9.00 | 9.00 |
| Profit before tax | 165.00 | -140.00 | 246.00 | 175.00 | 126.00 | -85.00 | 119.00 | 103.00 | 24.00 | 46.00 | 59.00 | 118.00 | 172.00 |
| Tax % | 26.00 | -19.00 | 16.00 | 18.00 | 17.00 | -13.00 | 30.00 | 20.00 | 3.00 | 29.00 | 27.00 | 18.00 | 19.00 |
| Net Profit | 122.00 | -114.00 | 207.00 | 143.00 | 105.00 | -74.00 | 83.00 | 82.00 | 23.00 | 33.00 | 44.00 | 96.00 | 139.00 |
| EPS in Rs | 6.34 | -5.90 | 10.73 | 7.43 | 5.43 | -3.82 | 4.32 | 4.26 | 1.19 | 1.71 | 2.26 | 4.97 | 7.21 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,568.00 | 2,151.00 | 2,393.00 | 2,463.00 | 2,201.00 | 1,254.00 | 2,145.00 | 6,591.00 | 2,748.00 | 859.00 | 870.00 | 1,228.00 |
| Expenses | 2,169.00 | 1,891.00 | 2,011.00 | 1,844.00 | 1,670.00 | 1,308.00 | 2,150.00 | 1,930.00 | 1,027.00 | 778.00 | 733.00 | 1,046.00 |
| Operating Profit | 399.00 | 260.00 | 382.00 | 619.00 | 530.00 | -53.00 | -5.00 | 4,662.00 | 1,721.00 | 81.00 | 137.00 | 182.00 |
| OPM % | 16.00 | 12.00 | 16.00 | 25.00 | 24.00 | -4.20 | -0.20 | 71.00 | 63.00 | 9.00 | 16.00 | 15.00 |
| Other Income | 259.00 | 141.00 | 223.00 | 187.00 | 117.00 | 114.00 | 143.00 | 106.00 | 12.00 | 7.00 | 4.00 | 15.00 |
| Interest | 37.00 | 39.00 | 36.00 | 26.00 | 7.00 | 11.00 | 37.00 | 18.00 | 56.00 | 55.00 | 60.00 | 77.00 |
| Depreciation | 213.00 | 201.00 | 175.00 | 102.00 | 79.00 | 73.00 | 72.00 | 72.00 | 73.00 | 74.00 | 79.00 | 75.00 |
| Profit before tax | 408.00 | 162.00 | 395.00 | 677.00 | 560.00 | -23.00 | 29.00 | 4,677.00 | 1,605.00 | -41.00 | 1.00 | 44.00 |
| Tax % | 16.00 | 29.00 | 21.00 | 21.00 | 23.00 | -23.00 | -82.00 | 35.00 | 33.00 | 23.00 | 886.00 | 12.00 |
| Net Profit | 341.00 | 115.00 | 312.00 | 532.00 | 431.00 | -18.00 | 68.00 | 3,026.00 | 1,099.00 | -44.00 | 4.00 | 36.00 |
| EPS in Rs | 17.69 | 5.96 | 16.15 | 27.59 | 22.33 | -0.93 | 3.50 | 156.80 | 55.02 | -2.21 | 0.22 | 1.82 |
| Dividend Payout % | 19.00 | 30.00 | 28.00 | 31.00 | 36.00 | -65.00 | 143.00 | 10.00 | 29.00 | 0.00 | 0.00 | 33.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 39.00 | 39.00 | 39.00 | 39.00 | 39.00 | 39.00 | 39.00 | 39.00 | 40.00 | 40.00 | 40.00 | 40.00 |
| Reserves | 4,719.00 | 4,415.00 | 4,387.00 | 4,242.00 | 3,875.00 | 3,456.00 | 3,473.00 | 3,755.00 | 1,868.00 | 913.00 | 956.00 | 974.00 |
| Borrowings | 796.00 | 588.00 | 623.00 | 743.00 | 665.00 | 298.00 | 594.00 | 667.00 | 297.00 | 684.00 | 782.00 | 917.00 |
| Other Liabilities | 612.00 | 607.00 | 653.00 | 668.00 | 730.00 | 451.00 | 332.00 | 684.00 | 534.00 | 216.00 | 176.00 | 315.00 |
| Total Liabilities | 6,166.00 | 5,648.00 | 5,701.00 | 5,692.00 | 5,308.00 | 4,244.00 | 4,438.00 | 5,144.00 | 2,739.00 | 1,853.00 | 1,953.00 | 2,246.00 |
| Fixed Assets | 1,788.00 | 1,938.00 | 1,816.00 | 1,363.00 | 763.00 | 694.00 | 745.00 | 788.00 | 833.00 | 889.00 | 932.00 | 907.00 |
| CWIP | 224.00 | 71.00 | 212.00 | 472.00 | 696.00 | 373.00 | 101.00 | 19.00 | 2.00 | 1.00 | 27.00 | 108.00 |
| Investments | 1,478.00 | 1,400.00 | 1,200.00 | 859.00 | 1,171.00 | 1,358.00 | 1,245.00 | 942.00 | 248.00 | 231.00 | 227.00 | 223.00 |
| Other Assets | 2,676.00 | 2,238.00 | 2,474.00 | 2,998.00 | 2,678.00 | 1,819.00 | 2,348.00 | 3,396.00 | 1,656.00 | 732.00 | 767.00 | 1,009.00 |
| Total Assets | 6,166.00 | 5,648.00 | 5,701.00 | 5,692.00 | 5,308.00 | 4,244.00 | 4,438.00 | 5,144.00 | 2,739.00 | 1,853.00 | 1,953.00 | 2,246.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 213.00 | 280.00 | 612.00 | 113.00 | -141.00 | 716.00 | 739.00 | 1,488.00 | 594.00 | 157.00 | 249.00 | 276.00 |
| Cash from Investing Activity | -320.00 | -207.00 | -184.00 | -21.00 | -183.00 | -417.00 | -275.00 | -676.00 | -9.00 | -1.00 | -29.00 | -83.00 |
| Cash from Financing Activity | 97.00 | -159.00 | -324.00 | -100.00 | 344.00 | -310.00 | -460.00 | -788.00 | -588.00 | -153.00 | -219.00 | -202.00 |
| Net Cash Flow | -10.00 | -86.00 | 104.00 | -8.00 | 20.00 | -11.00 | 4.00 | 24.00 | -3.00 | 3.00 | 1.00 | -8.00 |
| Free Cash Flow | -35.00 | 102.00 | 244.00 | -364.00 | -499.00 | 460.00 | 503.00 | 1,441.00 | 580.00 | 154.00 | 218.00 | 249.00 |
| CFO/OP % | 59.00 | 125.00 | 169.00 | 42.00 | -2.00 | -1,349.00 | -17,020.00 | 67.00 | 65.00 | 205.00 | 188.00 | 155.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 71.00 | 75.00 | 78.00 | 72.00 | 98.00 | 84.00 | 68.00 | 66.00 | 129.00 | 153.00 | 134.00 | 121.00 |
| Inventory Days | 389.00 | 507.00 | 379.00 | 574.00 | 431.00 | 262.00 | 226.00 | 428.00 | 391.00 | 216.00 | 342.00 | 238.00 |
| Days Payable | 138.00 | 161.00 | 135.00 | 164.00 | 197.00 | 116.00 | 30.00 | 124.00 | 188.00 | 73.00 | 48.00 | 76.00 |
| Cash Conversion Cycle | 323.00 | 421.00 | 321.00 | 483.00 | 331.00 | 230.00 | 264.00 | 370.00 | 332.00 | 297.00 | 428.00 | 282.00 |
| Working Capital Days | 132.00 | 141.00 | 111.00 | 107.00 | 75.00 | 93.00 | 134.00 | 86.00 | 120.00 | -3.00 | -7.00 | 13.00 |
| ROCE % | 8.00 | 4.00 | 9.00 | 15.00 | 14.00 | -2.00 | 0.00 | 139.00 | 86.00 | 1.00 | 3.00 | 6.00 |
Corporate Actions
35 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 22 Jul 2026 | 22 Jul 2026 | — | 3.40 | |
| Dividend | 13 Aug 2025 | 13 Aug 2025 | — | 1.80 | |
| Split | 18 Oct 2024 | 18 Oct 2024 | 10:2 | — | |
| Dividend | 31 Jul 2024 | — | — | 22.50 | |
| Dividend | 24 Aug 2023 | — | — | 42.50 | |
| Dividend | 24 Aug 2022 | — | — | 40.00 | |
| Dividend | 19 Jul 2021 | 21 Jul 2021 | — | 3.00 | |
| Other | 03 Sep 2020 | — | — | — | Annual General Meeting |
| Dividend | 17 Feb 2020 | 19 Feb 2020 | — | 25.00 | |
| Dividend | 09 Aug 2019 | — | — | 50.00 | |
| Other | 07 Feb 2019 | 09 Feb 2019 | — | — | Buy Back of Shares |
| Other | 07 Feb 2019 | 09 Feb 2019 | — | — | Buy Back |
| Dividend | 12 Nov 2018 | 13 Nov 2018 | — | 30.00 | |
| Dividend | 13 Jul 2018 | — | — | 50.00 | |
| Dividend | 15 Feb 2018 | 19 Feb 2018 | — | 30.00 | |
| Other | 14 Sep 2017 | — | — | — | Annual General Meeting |
| Other | 20 Sep 2016 | — | — | — | Annual General Meeting |
| Dividend | 14 Sep 2015 | — | — | 3.00 | |
| Dividend | 14 Aug 2014 | — | — | 6.00 | |
| Dividend | 06 Sep 2013 | — | — | 8.00 | |
| Other | 06 Sep 2013 | — | — | — | Annual General Meeting / Final Dividend Rs.8/- Per Equity Share |
| Dividend | 07 Sep 2012 | — | — | 5.00 | |
| Dividend | 02 Sep 2011 | — | — | 5.00 | |
| Dividend | 14 Feb 2011 | 15 Feb 2011 | — | 5.00 | |
| Dividend | 08 Sep 2010 | — | — | 10.00 | |
| Dividend | 08 Sep 2009 | — | — | 6.50 | |
| Dividend | 17 Sep 2008 | — | — | 3.00 | NSE/BSE dividend mismatch: NSE=0.6; BSE=3.0 |
| Dividend | 17 Sep 2008 | — | — | 0.60 | NSE/BSE dividend mismatch: NSE=0.6; BSE=3.0 |
| Dividend | 11 Jan 2008 | 14 Jan 2008 | — | 7.00 | NSE/BSE dividend mismatch: NSE=1.4; BSE=7.0 |
| Dividend | 11 Jan 2008 | 14 Jan 2008 | — | 1.40 | NSE/BSE dividend mismatch: NSE=1.4; BSE=7.0 |
| Dividend | 18 Sep 2007 | — | — | 5.00 | NSE/BSE dividend mismatch: NSE=1.0; BSE=5.0 |
| Dividend | 18 Sep 2007 | — | — | 1.00 | NSE/BSE dividend mismatch: NSE=1.0; BSE=5.0 |
| Dividend | 13 Sep 2006 | — | — | 0.60 | |
| Dividend | 22 Sep 2005 | — | — | 0.60 | |
| Dividend | 05 Sep 2001 | — | — | 2.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update27 May from fitch
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Rating update29 May 2025 from fitch
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Rating update11 Jul 2023 from fitch
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Rating update12 Jul 2022 from fitch
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Rating update13 Jul 2021 from fitch
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Rating update14 Jul 2020 from fitch
Conference Calls
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