Q2 results: PAT jumps on Graftech gain, GST notice of about 565 cr

Pat Growth 25pctRevenue DeclineContingent Liabilities IncreasedResults View source PDF Explain this filing

HEG · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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 H1 FY26 standalone PAT rose to Rs 255.31 cr from Rs 85.74 cr, aided by Rs 102.10 cr fair value gain on Graftech shares. Q2 standalone revenue from operations fell to Rs 696.85 cr from Rs 1,139.06 cr. Board approved subscribing to OCDs of wholly owned subsidiary TACC up to Rs 633 cr. Subsidiary BIL plans to sell 26 percent stake in Texnere India. GST show cause notices of Rs 282.34 cr each for FY20 and FY21 received.

Likely market impact

Headline PAT up on non-cash Graftech gains, core revenue trend weak. GST demand is a sizable overhang.