Financial Results - Standalone Performance

  • Revenue from operations in Q1 FY27: ₹680.91 crore, up 11.1% year-on-year
  • Profit before tax: ₹151.79 crore in June 2026 quarter, up 64.2% year-on-year
  • Profit after tax: ₹109.50 crore in Q1 FY27, up 52.5% year-on-year
  • Basic and diluted earnings per share: ₹5.67 for June 2026 quarter (compared to ₹3.72 a year earlier)
  • Total assets as at June 30, 2026: ₹5,784.28 crore (₹5,693.54 crore as at March 31, 2026)
  • Total liabilities as at June 30, 2026: ₹1,371.62 crore (₹1,390.37 crore as at March 31, 2026)

Financial Results - Consolidated Performance

  • Revenue from continuing operations: ₹680.79 crore in Q1 FY27, up 11.1% year-on-year
  • Consolidated profit before tax (including ₹30.50 crore share of profit from associates): ₹165.08 crore in June 2026 quarter, up 36.1%
  • Consolidated profit after tax from continuing operations: ₹122.34 crore in Q1 FY27, up 22.6% year-on-year
  • Consolidated basic earnings per share from continuing operations: ₹6.34 in June 2026 quarter (compared to ₹5.17 a year earlier)
  • Total consolidated assets as at June 30, 2026: ₹6,333.97 crore
  • Total consolidated liabilities as at June 30, 2026: ₹1,453.78 crore

Segment Performance

  • Graphite electrode segment (principal business): Revenue of ₹677.77 crore for Q1 FY27, up 11.3%; Segment results more than doubled to ₹149.64 crore in June 2026 quarter
  • Power segment (hydro power plant at Tawa Nagar): Revenue of ₹3.14 crore for June 2026 quarter; Seasonal generation with intermittent operation in first quarter, ramping up with monsoon in second quarter, and tapering in fourth quarter

Management Commentary

Ravi Jhunjhunwala, Chairman, Managing Director & CEO, stated: "We have begun FY27 on a strong note, delivering an 11% growth in revenue from operations and a 23% increase in profit after tax. The improvement reflects continued focus on operational excellence, cost optimization and disciplined execution across the business. While the global steel industry continues to witness periods of volatility, we remain encouraged by the improving demand environment for graphite electrodes in key markets."

Composite Scheme of Arrangement Update

The Board provided an update on the previously approved Composite Scheme of Arrangement amongst HEG Limited, HEG Graphite Limited (Resulting Company) and Bhilwara Energy Limited (Transferor Company). The Scheme involves:

  • Demerger of the graphite business from HEG Limited into HEG Graphite Limited on a going-concern basis, with HEG Graphite Limited issuing equity shares to HEG Limited's shareholders
  • Amalgamation of Bhilwara Energy Limited with HEG Limited, with HEG Limited issuing equity shares to Bhilwara Energy Limited's shareholders (other than HEG Limited itself)
  • Appointed Date for the Scheme: April 1, 2024

Regulatory Timeline

  • BSE Limited and National Stock Exchange of India provided no-objection/observation letters on January 8 and 9, 2026 respectively
  • Scheme filed with NCLT, Indore Bench on January 24, 2026
  • NCLT order dated March 26, 2026 convened meetings of equity shareholders and secured/unsecured creditors of both companies on May 5, 2026, where Scheme was approved
  • Hearing held on July 2, 2026, with NCLT reserving its order
  • No adjustments for the Scheme have been made to the unaudited financial results for quarter ended June 30, 2026, pending final order and statutory approvals

Subsidiaries and Associate Companies

The consolidated results comprise HEG Limited, its wholly owned subsidiaries TACC Limited, HEG Graphite Limited and Bhilwara Infotechnology Limited, and its share of profit from associate Bhilwara Energy Limited.

Disclaimer

The press release contains forward-looking statements relating to the proposed Scheme of Arrangement and business plans, based on current management expectations and subject to risks and uncertainties.