HEG Advanced Materials Demerger Cost Apportionment Guidance

Date: September 29, 2026

KMP / Board / Auditor Changes

Not Specified

Dividend Declaration or Non-Declaration

Not Specified

Board Meeting Outcomes

Not Specified

Financial Results (Standalone & Consolidated)

Not Specified

Auditor’s Report

Not Specified

Disinvestment / Strategic Actions

The Hon'ble National Company Law Tribunal (NCLT), Indore Bench sanctioned the Composite Scheme of Arrangement on August 13, 2026.

The Scheme involved: (a) the demerger, transfer and vesting of the Demerged Undertaking (Graphite Business) from HEG Advanced Materials Limited (Demerged Company) into HEG Graphite Limited (Resulting Company) on a going concern basis; (b) the amalgamation of Bhilwara Energy Limited (Transferor Company) with HEG Advanced Materials Limited (Transferee Company); and (c) various other consequent and incidental matters.

Other Operational / Legal / Strategic Disclosures

The document serves as a formal disclosure of the cost apportionment guidance required post the NCLT-approved scheme.