Financial Performance (Consolidated)

H1 FY27 (Half Year Ended September 30, 2026):

  • Revenue from continuing operations: ₹725.80 crore
  • Total Income: ₹870.77 crore
  • EBITDA: ₹438.00 crore
  • Profit After Tax (PAT): ₹269.07 crore
  • Cash and bank balances as of September 30, 2026: ₹1,322.84 crore

Q2 FY27 (Quarter Ended September 30, 2026):

  • Revenue from continuing operations: ₹429.94 crore
  • Total Income: ₹546.59 crore
  • EBITDA: ₹312.78 crore
  • Profit After Tax (PAT): ₹208.89 crore

Board Approvals and Capital Expenditure

The Board of Directors approved three major projects:

1. Anode Plant Capacity Expansion: Expansion of the current 20,000 MT capacity anode plant to 44,000 MT.

  • Total Capex: ₹1,606 crore
  • Phased Completion: 20,000 MT to be operational by June 2027; the additional 24,000 MT to be operational by March 2029.

2. Crucible Project: A project for backward integration and cost optimization with the anode plant.

  • Capex: ₹475 crore

3. Graphene Project: A new project for graphene production.

  • Capacity: 500 Metric Tons Per Annum (MTPA)
  • Capex: ₹500 crore

Corporate Action

  • The HEG Composite Scheme became effective on September 1, 2026.
  • Under the scheme, the graphite electrodes business was transferred to HEG Limited (formerly HEG Graphite Limited), and Bhilwara Energy Limited was amalgamated into HEG Advanced Materials Limited.
  • Consequently, the current financial results present continuing and discontinued operations separately and are not comparable to previous financial figures.

Business Highlights and Operational Updates

Advanced Materials (TACC Business):

  • The global lithium-ion battery production is projected to grow from 2.3 TWh in 2025 to 8 TWh by 2035, with non-China anode demand expected to exceed 1 million tons by 2030.
  • Construction progress of the Phase I 20,000 MT anode materials facility: 61% overall completion, with the process building at 72.25%.
  • Commercial Operation Date (COD) for Phase I is planned for June 2027.
  • Phase II involves an additional 24,000 MT plant targeting COD in March 2029, utilizing existing infrastructure, power connection, and land at the Dewas site.
  • TACC's R&D pipeline includes next-generation silicon-doped and graphene-based anodes.
  • TACC received the CII Award for Excellence in R&D 2026 in the 'Materials, Chemicals & Textiles - Large Enterprise' category in October 2026.

Battery Energy Solutions (REPLUS Engitech):

  • REPLUS has deployed over 1 GWh of energy storage capacity across BESS, electric mobility, telecom power, and hybrid energy applications.
  • It operates a 1 GWh Giga Factory in Pune.
  • A 5 GWh high-speed, fully automatic prismatic line expansion facility is under construction, which will take total manufacturing capacity to 6 GWh upon completion.

Green Power Businesses:

  • Combined hydroelectric installed capacity: 278 MW in Himachal Pradesh.
  • 86 MW from Malana Power Company Limited (MPCL)
  • 192 MW from AD Hydro Power Limited
  • Additional 14 MW wind power project in Maharashtra (under HEGAM).
  • All operating hydro projects and the wind project are debt-free.
  • The existing hydro assets generate annually stable cash flows of over ₹300 crore.
  • A 200 MWh BESS IPP project in Gujarat for Gujarat Urja Vikas Nigam Limited:
  • Total Capex: ₹227.8 crore
  • Project Progress: 64% complete
  • Target Commissioning: Q3 FY27

Management Commentary

Mr. Riju Jhunjhunwala, Chairman, MD & CEO: Stated the company's focus is on building a technology-led, globally competitive advanced materials platform through strengthening R&D, developing proprietary technologies, and creating scalable businesses across anode materials, graphene, battery energy storage, and green power. Priorities include disciplined capital allocation, timely execution, customer development, and improving long-term competitiveness.

Ms. Neha Rajvanshi, President & CFO: Highlighted that the performance reflects the evolving business mix. The Green Power Business provides a sound financial foundation with its profitable, debt-free operations and stable cash flows. REPLUS is strengthening its presence in BESS and EV solutions. The upcoming anode expansion, graphene, and crucible projects are expected to strengthen the product portfolio and market position.

Other Corporate Updates

  • An ESOP scheme has been implemented (details not provided in the disclosure).

Forward-Looking Statements

The release contains forward-looking statements regarding proposed capacity expansions, timelines, capex plans, market projections, and order pipelines. These are based on current expectations and are subject to risks and uncertainties. The company undertakes no obligation to update them.