HEG Q2 results with Rs 282 cr GST show cause notice

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HEG · price

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

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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.

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AI summary

Board approved Sep 2025 quarter standalone results: revenue Rs 696.85 cr, H1 PAT Rs 246.96 cr. Also received GST show cause notices for FY20 and FY21 seeking IGST refund recovery plus Rs 282.34 cr penalty each year. Company is confident these will be dropped, noting similar earlier notices for FY18 and FY19 were cleared. Also approved Rs 633 cr OCD subscription in wholly owned subsidiary TACC and sale of 26 percent stake in Texnere India.

Likely market impact

Strong Q2 results. GST notice is only show cause stage; company expects favorable outcome since prior similar notices were dropped.