HEG Q2 results, subsidiary OCD approval, GST notice and scheme update

Nclt Scheme FiledStrategic Transactions View source PDF Explain this filing

HEG · price

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Price reactionminutes from the announcement price · days from the prior close

+2.2%Reaction day

₹518.05

prior close

₹540.00

announcement price

After-mkt

timing

Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)-0.1%+2.4% vs market

Electrodes & Refractories peers, median of 10sector-0.2%+2.5% vs sector

On the reaction day the stock moved 2.4 pts more than Nifty Smallcap 250 and 2.5 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.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.5

10m

-0.8

15m

+1.3

30m

+2.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+2.2-0.1+2.4-0.2+2.5

Next day

+0.7+0.6+0.1+0.9-0.2

-0.7+0.2-0.9+1.8-2.5

-0.5+0.4-0.9+2.0-2.6

-1.6+1.0-2.6+2.0-3.6

-0.4+0.0-0.4+1.3-1.8

-0.7-0.5-0.2+2.4-3.1

15d

+0.7-1.9+2.6+0.4+0.3

+3.1-4.5+7.5-2.5+5.6

+10.3-5.4+15.7-5.3+15.6

+1.6-3.8+5.4+2.7-1.1

UpDownMarket · Nifty Smallcap 250Sector · Electrodes & Refractories peers, median of 10Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

HEG Q2 standalone profit was Rs 129.83 cr on revenue of Rs 696.85 cr. Board approved subscribing to OCDs of wholly owned subsidiary TACC Limited for up to Rs 633 cr to fund research, expansion and working capital. Subsidiary BIL decided to sell its 26 percent stake in Texnere India based on valuation report. GST show cause notices of Rs 282.34 cr each for FY 2019-20 and FY 2020-21 received, company says refunds are in order. Modified amalgamation scheme with Bhilwara Energy refiled with stock exchanges, pending NCLT approval. Puneet Anand appointed President and Group Chief Strategy Officer from December 1.

Likely market impact

Strong Q2 profits support outlook, but Rs 565 cr potential GST liability is a key risk. Subsidiary moves signal group restructuring. Watch NCLT scheme progress.