HEG Q4 FY26 Net Loss INR 189 Crore on Unrealized Losses

HEG reported a Q4 FY26 net loss of INR 189 crore due to unrealized losses on foreign investments and forex, while operating EBITDA margins remained stable at ~20%.
Full-year FY26 sales volume grew 20%, revenue rose to INR 2,569 crore, and net profit increased to INR 181 crore, with over 90% capacity utilization.
Management outlined a structural growth outlook for graphite electrodes, driven by global EAF steel capacity additions and decarbonization policies like EU's CBAM.
The company is progressing on its expansion to 115,000 tons by early 2028 and its investment in backward-integrated GrafTech for long-term needle coke security.