HEG Limited has been renamed as “HEG Advanced Materials Limited” with effect from 2 September 2026, following the issuance of a fresh Certificate of Incorporation by the Registrar of Companies, Gwalior, M.P. This change of name follows the Composite Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Indore Bench, vide its order dated 13 August 2026. The Scheme became effective on 1 September 2026, while the Record Date for shareholder entitlement is 07 September 2026.

Reorganisation and Demerger

Under the Scheme, HEG Limited reorganises into two separately listed entities. The demerged graphite electrodes business will form HEG Graphite Limited, which will be listed on BSE and NSE in ~45 days (in the second half of October). The reorganisation gives each business an independent listing, a focused management, and the flexibility to pursue its own growth path.

Shareholder Entitlement

Shareholders of HEG Advanced Materials Limited (formerly HEG Limited) as on the Record Date will receive one fully paid-up equity share of face value Rs. 2 each in the graphite company for every one fully paid-up equity share of face value Rs. 2 each held in HEG Advanced Materials Limited, a one-for-one (1:1) entitlement on a mirror basis. Under the amalgamation, HEG Advanced Materials Limited will issue eight equity shares of face value Rs. 2 each to existing shareholders of Bhilwara Energy Limited (except to the HEG Advanced Materials Limited) for every seven equity shares of face value Rs. 10 each held in Bhilwara Energy Limited.

Mr. Ravi Jhunjhunwala will continue to lead the graphite company as Chairman, Managing Director, and Chief Executive Officer with effect from 1 September 2026, and will continue on the board of HEG Advanced Materials Limited in a non-executive capacity. Mr. Riju Jhunjhunwala has been elevated to Chairman, Managing Director, and Chief Executive Officer of HEG Advanced Materials Limited for a five-year term, subject to shareholders’ approval and will also be on the Board of HEG Graphite Limited in a non-executive capacity.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of HEG Limited

HEG Limited belongs to the Industrials › Electrical Equipment & Parts sector. Here’s a quick read on where the business and the stock stand today.

HEG gains 29.7% over three months and trades near its 52-week highs. Revenue contracts at 1.6% CAGR. That signals structural headwinds, not a short-term blip. No meaningful dividend — total return is entirely dependent on capital appreciation. Buyers show up with 3.2x the volume of sellers. Moreover, they dominated on 16 of recent sessions versus 14 for sellers — a healthy accumulation pattern. The stock rises 29.7% in three months. Yet revenue grows at only 1.6% and the PEG stands at 99.00. Either the market prices in a turnaround that has not shown up yet, or this is momentum without substance. Check the next two earnings prints before drawing conclusions. Check Fundamentals of HEG Limited.

HEG Limited (NSE: HEG), part of the LNJ Bhilwara Group, today announced its unaudited standalone and consolidated financial results for the first quarter of financial year 2026-27 (Q1 FY27), ended June 30, 2026. The consolidated profit after tax rose 22.6% year-on-year to INR 122.34 crore in Q1 FY27, while revenue from continuing operations increased 11.1% to INR 680.79 crore. The improvement reflects the company’s focus on operational excellence and disciplined execution across the business.

Segment Performance

The graphite electrode segment, the company’s principal business, remained the primary driver of growth. Standalone graphite segment revenue was INR 677.77 crore for Q1 FY27, up 11.3%, while segment results more than doubled to INR 149.64 crore in June 2026 quarter. The power segment contributed segment revenue of INR 3.14 crore for the June 2026 quarter, with generation intermittent in the first quarter and ramping up with the monsoon in the second quarter.

Financial Highlights

Consolidated profit before tax, including the company’s INR 30.50 crore share of profit from associates, rose 36.1 percent to INR 165.08 crore in June 2026 quarter. Consolidated basic earnings per share from continuing operations rose to INR 6.34 in June 2026 quarter from INR 5.17 a year earlier. The company’s total assets stood at INR 6,333.97 crore as at June 30, 2026, against total liabilities of INR 1,453.78 crore.

As we move ahead, HEG Limited remains committed to creating long-term value through prudent capital allocation, operational resilience, and sustained investments in technology, sustainability, and growth opportunities.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of HEG Limited

HEG Limited belongs to the Industrials › Electrical Equipment & Parts sector. Here’s a quick read on where the business and the stock stand today.

HEG holds in the upper half of its 52-week range, a sign the market backs the stock. The PEG of 0.73 signals undervaluation relative to growth. It is a potential re-rating candidate. The business compounds revenue at 15.0% and profits at 46.0% CAGR. That is strong double-digit growth on both counts. The stock gains 17.2% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. The stock rises -4.5% in three months on 15.0% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of HEG Limited.

HEG Limited, a leading producer of graphite electrodes, announced its financial results for Q1 of FY 26-27, showing a robust performance. The company reported a 12% increase in revenue and a 16% rise in profit before tax, driven by strong global steel demand and operational efficiencies.

Strong Revenue Growth

Revenue from operations for the quarter stood at Rs. 680.79 crore, up from Rs. 603.21 crore in the same period last year. This growth is attributed to the rising demand for steel, particularly in infrastructure and construction sectors.

Profit Before Tax Rises

Profit before tax for the quarter was Rs. 109.50 crore, compared to a loss of Rs. 189.01 crore in the same quarter last year. The turnaround is largely due to effective cost management and disciplined pricing actions.

Future Outlook

Looking ahead, HEG Limited remains well-positioned for long-term growth. The company is expanding its capacity by 15,000 tonnes to 115,000 tonnes, reinforcing its leadership in the global graphite electrode market. With the global steel demand expected to recover and the shift towards electric arc furnace (EAF) steelmaking, HEG is poised to benefit from these structural trends.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of HEG Limited

HEG Limited belongs to the Industrials › Electrical Equipment & Parts sector. Here’s a quick read on where the business and the stock stand today.

HEG holds in the upper half of its 52-week range, a sign the market backs the stock. The PEG of 0.73 signals undervaluation relative to growth. It is a potential re-rating candidate. The business compounds revenue at 15.0% and profits at 46.0% CAGR. That is strong double-digit growth on both counts. The stock gains 17.2% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. The stock rises -4.5% in three months on 15.0% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of HEG Limited.