HEG Limited has informed the Exchange regarding Board meeting held on July 30, 2025.
HEG · price
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On the reaction day the stock moved 7.9 pts more than Nifty Smallcap 250 and 6.8 pts more than its Electrodes & Refractories peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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HEG Limited reported strong Q1 FY26 (quarter ended June 30, 2025) results. Standalone revenue grew to ₹612.78 crore from ₹571.46 crore in Q1 FY25, while profit after tax surged to ₹92.42 crore from just ₹2.58 crore a year ago, boosted by a ₹23.25 crore fair-value gain on its Graftech International investment. Consolidated PAT stood at ₹104.77 crore vs ₹23.02 crore, aided by ₹16.34 crore share of profit from associates. The Board approved a ₹650 crore capacity expansion of 15,000 TPA in graphite electrodes (15% addition over existing 1,00,000 TPA), to be completed in 30 months, funded through internal accruals and debt. The auditor (SCV & Co. LLP) issued an unmodified review opinion, though flagged going-concern uncertainty and emphasis-of-matter items relating to two subsidiaries of associate Bhilwara Energy Limited (NJC Hydro Power and Chango Yangthang Hydro Power), both involving stalled/surrendered hydro projects.
The sharp profit rebound and ₹650 crore capex plan signal management confidence in graphite electrode demand, likely positive for the stock in the near term. However, the ongoing composite scheme of arrangement (graphite demerger + Bhilwara Energy amalgamation) is still pending regulatory approvals, which adds some uncertainty on the final corporate structure.