HEG Limited
HEG Limited (HEG) financial statements and selected valuation metrics from NSE/BSE exchange filings through 30 June 2026.
Industrials›Capital Goods›Industrial Products›Electrodes & Refractories
lnjbhilwara.com(opens the company website in a new tab)Key metrics
Price as of 2026-09-03
Stock price
₹707.45
Market cap
13,651 Cr
Stock P/E
32.3
P/B
2.87
Dividend yield
0.3%
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Share price
NSE closing price from historical market data.
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Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · NSE preferred when both exchanges report the same period · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 614 Cr | 562 Cr | 547 Cr | 571 Cr | 568 Cr | 478 Cr | 542 Cr | 617 Cr | 699 Cr | 656 Cr | 603 Cr | 681 Cr |
| Operating expenses (approx.) | 512 Cr | 476 Cr | 504 Cr | 533 Cr | 471 Cr | 399 Cr | 598 Cr | 511 Cr | 581 Cr | 514 Cr | 752 Cr | 530 Cr |
| EBITDA | 102 Cr | 87 Cr | 43 Cr | 39 Cr | 97 Cr | 80 Cr | -55 Cr | 105 Cr | 118 Cr | 142 Cr | -148 Cr | 151 Cr |
| OPM % | 16.6% | 15.4% | 7.8% | 6.8% | 17.0% | 16.7% | -10.2% | 17.1% | 16.9% | 21.7% | -24.6% | 22.1% |
| Other income | 28 Cr | 23 Cr | 64 Cr | 20 Cr | 43 Cr | 112 Cr | 48 Cr | 67 Cr | 112 Cr | 102 Cr | 40 Cr | 44 Cr |
| Interest | 9 Cr | 10 Cr | 9 Cr | 8 Cr | 9 Cr | 9 Cr | 12 Cr | 8 Cr | 9 Cr | 9 Cr | 11 Cr | 10 Cr |
| Depreciation | 38 Cr | 47 Cr | 50 Cr | 47 Cr | 48 Cr | 51 Cr | 55 Cr | 53 Cr | 54 Cr | 54 Cr | 53 Cr | 50 Cr |
| Profit before tax | 118 Cr | 59 Cr | 46 Cr | 24 Cr | 103 Cr | 119 Cr | -85 Cr | 127 Cr | 175 Cr | 246 Cr | -166 Cr | 165 Cr |
| Tax % | 18.4% | 26.5% | 29.0% | 2.9% | 19.9% | 29.7% | 12.9% | 17.8% | 18.2% | 15.9% | 15.7% | 25.9% |
| Net profit | 96 Cr | 44 Cr | 33 Cr | 23 Cr | 82 Cr | 83 Cr | -74 Cr | 105 Cr | 143 Cr | 207 Cr | -114 Cr | 122 Cr |
| EPS (₹) | ₹24.87 | ₹11.32 | ₹8.53 | ₹5.97 | ₹4.26 | ₹4.32 | ₹-3.82 | ₹5.43 | ₹7.43 | ₹10.72 | ₹-5.90 | ₹6.34 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 6,593 Cr | 2,149 Cr | 1,256 Cr | 2,202 Cr | 2,467 Cr | 2,395 Cr | 2,160 Cr | 2,569 Cr | Sign in for TTM |
| Operating expenses (approx.) | 1,935 Cr | 2,155 Cr | 1,315 Cr | 1,674 Cr | 1,849 Cr | 2,012 Cr | 1,905 Cr | 2,170 Cr | Sign in for TTM |
| EBITDA | 4,658 Cr | -6 Cr | -59 Cr | 527 Cr | 618 Cr | 382 Cr | 255 Cr | 398 Cr | Sign in for TTM |
| OPM % | 70.7% | -0.3% | -4.7% | 23.9% | 25.1% | 16.0% | 11.8% | 15.5% | Sign in for TTM |
| Other income | 109 Cr | 144 Cr | 113 Cr | 80 Cr | 109 Cr | 142 Cr | 128 Cr | 141 Cr | Sign in for TTM |
| Interest | 18 Cr | 37 Cr | 11 Cr | 7 Cr | 26 Cr | 36 Cr | 39 Cr | 37 Cr | Sign in for TTM |
| Depreciation | 72 Cr | 72 Cr | 73 Cr | 79 Cr | 102 Cr | 175 Cr | 201 Cr | 213 Cr | Sign in for TTM |
| Profit before tax | 4,653 Cr | 44 Cr | -23 Cr | 560 Cr | 677 Cr | 395 Cr | 160 Cr | 294 Cr | Sign in for TTM |
| Tax % | 35.0% | -55.3% | 23.3% | 23.1% | 21.4% | 21.2% | 28.3% | 22.6% | Sign in for TTM |
| Net profit | 3,026 Cr | 68 Cr | -18 Cr | 431 Cr | 532 Cr | 312 Cr | 115 Cr | 341 Cr | Sign in for TTM |
| EPS (₹) | ₹757.53 | ₹17.52 | ₹-4.65 | ₹111.68 | ₹137.93 | ₹80.75 | ₹5.96 | ₹17.69 | Sign in for TTM |
| Dividend payout % | — | — | — | 2.8% | 28.9% | 52.5% | 75.8% | 10.7% | Sign in for TTM |
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Trailing twelve months totals and margin rows
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 39 Cr | 39 Cr | 39 Cr | 39 Cr | 39 Cr | 39 Cr | 39 Cr | 39 Cr |
| Reserves | 3,755 Cr | 3,473 Cr | 3,456 Cr | 3,875 Cr | 4,242 Cr | 4,387 Cr | 4,415 Cr | 4,719 Cr |
| Borrowings | 666 Cr | — | — | — | 741 Cr | 619 Cr | 587 Cr | 793 Cr |
| Other liabilities | 684 Cr | 927 Cr | 749 Cr | 1,394 Cr | 670 Cr | 656 Cr | 607 Cr | 615 Cr |
| Total liabilities | 5,144 Cr | 4,438 Cr | 4,244 Cr | 5,308 Cr | 5,692 Cr | 5,701 Cr | 5,648 Cr | 6,166 Cr |
| Fixed assets (net) | 784 Cr | — | — | — | 1,348 Cr | 1,769 Cr | 1,892 Cr | 1,743 Cr |
| CWIP | 19 Cr | — | — | — | 472 Cr | 212 Cr | 71 Cr | 224 Cr |
| Investments | 945 Cr | — | — | — | 866 Cr | 1,207 Cr | 1,407 Cr | 1,484 Cr |
| Loans & advances | 0.62 Cr | — | — | — | 0.60 Cr | 0.66 Cr | 0.83 Cr | 209 Cr |
| Inventories | 1,308 Cr | — | — | — | 1,440 Cr | 1,194 Cr | 1,255 Cr | 1,134 Cr |
| Trade receivables | 1,187 Cr | — | — | — | 489 Cr | 508 Cr | 445 Cr | 500 Cr |
| Cash & bank | 29 Cr | — | — | — | 33 Cr | 137 Cr | 51 Cr | 41 Cr |
| Other assets | 871 Cr | 4,438 Cr | 4,244 Cr | 5,308 Cr | 1,042 Cr | 673 Cr | 527 Cr | 832 Cr |
| Total assets | 5,144 Cr | 4,438 Cr | 4,244 Cr | 5,308 Cr | 5,692 Cr | 5,701 Cr | 5,648 Cr | 6,166 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | — | — | — | -141 Cr | 113 Cr | 612 Cr | 280 Cr | 213 Cr |
| Cash from investing | — | — | — | -183 Cr | -21 Cr | -186 Cr | -208 Cr | -320 Cr |
| Cash from financing | — | — | — | 344 Cr | -100 Cr | -323 Cr | -159 Cr | 97 Cr |
| Net cash flow | — | — | — | 20 Cr | -8 Cr | 104 Cr | -88 Cr | -10 Cr |
| Free cash flow (OCF − Capex) | — | — | — | -500 Cr | -366 Cr | 209 Cr | 97 Cr | -39 Cr |
Ratios
Ratios as reported or derived per annual period.
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| ROCE % | 104.7% | 2.3% | -0.3% | 14.5% | 14.0% | 8.5% | 4.0% | 6.0% |
| ROE % | 0.0% | 1.9% | 0.0% | 11.0% | 12.4% | 7.0% | 2.6% | 7.2% |
| Debtor days | 66 | — | — | — | 72 | 77 | 75 | 71 |
| Inventory days | 295 | — | — | — | 399 | 399 | 478 | 423 |
| Days payable | 86 | — | — | — | 114 | 142 | 152 | 150 |
| Cash conversion cycle | 275 | — | — | — | 357 | 334 | 401 | 344 |
| Debt / equity | 0.18 | 0.00 | — | — | 0.17 | 0.14 | 0.13 | 0.17 |
| Current ratio | 2.82 | — | — | — | 2.17 | 2.25 | 2.26 | 2.21 |
| Net debt / EBITDA | 0.14 | — | — | 0.00 | 1.14 | 1.26 | 2.10 | 1.89 |
Compare with peers
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