HEG Limited has informed the Exchange regarding 'Outcome of Board Meeting dated 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 standalone revenue of ₹612.78 crores for Q1 FY26 (ended June 30, 2025), up about 7% from ₹571.46 crores in Q1 FY25. Profit after tax jumped sharply to ₹71.80 crores from just ₹3.26 crores a year ago, helped by a ₹23.25 crore fair value gain on its investment in Graftech International. Consolidated profit after tax stood at ₹104.83 crores versus a loss in the year-ago quarter, also boosted by share of profits from associates. The board approved a ₹650 crore capacity expansion to add 15,000 tonnes per annum of graphite electrodes over 30 months, funded through internal accruals and debt, citing strong industry demand and healthy payback. The existing plant is running at 85-90% utilization. The composite scheme of arrangement (demerger of graphite business into HEG Graphite Ltd and merger of Bhilwara Energy Ltd with HEG) remains pending NCLT and other approvals. The auditor noted an unmodified review conclusion but flagged a going concern uncertainty at Chango Yangthang Hydro Power (a subsidiary of associate Bhilwara Energy) and emphasis of matter on NJC Hydro Power.
The sharp earnings recovery and a sizeable capacity expansion plan signal management confidence in robust graphite electrode demand, which is likely to be viewed positively by investors. The pending demerger and amalgamation scheme could be a key near-term catalyst for value unlocking, though regulatory delays remain a risk.