HEG LIMITED — Quarter and year ended 31st March, 2026
| Sl. No. |
Particulars |
Quarter Ended 31-03-2026 Audited |
Quarter Ended 31-12-2025 Unaudited |
Quarter Ended 31-03-2025 Audited |
Year Ended 31-03-2026 Audited |
Year Ended 31-03-2025 Audited |
| I |
Revenue from operations |
603.21 |
655.66 |
536.58 |
2,568.50 |
2,152.71 |
| II |
Other income (refer note no. 4) |
16.73 |
100.54 |
43.63 |
91.96 |
126.68 |
| III |
Total Income (I+II) |
619.94 |
756.20 |
580.21 |
2,660.46 |
2,279.39 |
| IV |
Expenses |
|
|
|
|
|
|
Cost of materials consumed |
260.51 |
243.62 |
243.53 |
975.52 |
954.73 |
|
Changes in inventories of finished goods and work-in-progress |
(4.61) |
16.39 |
(35.29) |
87.91 |
(50.97) |
|
Employee benefit expenses (refer note no. 3) |
35.37 |
32.24 |
27.39 |
123.53 |
97.18 |
|
Finance costs |
10.72 |
9.39 |
12.01 |
37.21 |
39.20 |
|
Depreciation and amortisation expense |
52.59 |
53.87 |
54.55 |
213.20 |
200.54 |
|
Power and fuel |
93.08 |
86.43 |
78.35 |
369.49 |
331.65 |
|
Other expenses (refer note no. 4) |
361.29 |
134.16 |
271.27 |
607.20 |
559.24 |
|
Total expenses (IV) |
808.95 |
576.10 |
651.81 |
2,414.06 |
2,131.57 |
| V |
Profit/(loss) before exceptional items and tax (III-IV) |
(189.01) |
180.10 |
(71.60) |
246.40 |
147.82 |
| VI |
Exceptional items |
– |
– |
– |
– |
– |
| VII |
Profit/(loss) before tax (V-VI) |
(189.01) |
180.10 |
(71.60) |
246.40 |
147.82 |
| VIII |
Tax expense |
|
|
|
|
|
|
(1) Current tax (net of adjustment of earlier year tax) |
7.78 |
31.25 |
20.88 |
76.44 |
48.42 |
|
(2) Deferred tax |
(33.60) |
7.60 |
(30.80) |
(10.76) |
(1.91) |
| IX |
Profit/(loss) for the period / year (VII-VIII) |
(163.19) |
141.25 |
(61.68) |
180.72 |
101.31 |
| X |
Other comprehensive income |
|
|
|
|
|
|
A (i) Items that will not be classified to profit or loss |
|
|
|
|
|
|
– Remeasurement of employee defined benefit plan |
(1.98) |
0.22 |
(0.94) |
(3.13) |
(0.04) |
|
(ii) Tax expense relating to items that will not be reclassified to profit or loss |
0.50 |
(0.05) |
0.24 |
0.79 |
0.01 |
|
B (i) Items that will be reclassified to profit or loss |
– |
– |
– |
– |
– |
|
(ii) Tax relating to items that will be reclassified to profit or loss |
– |
– |
– |
– |
– |
| XI |
Total comprehensive income for the period / year (IX+X) |
(164.67) |
141.42 |
(62.38) |
178.38 |
101.28 |
| XII |
Paid-Up Equity Share Capital (Face Value ₹ 2/- per share) |
38.60 |
38.60 |
38.60 |
38.60 |
38.60 |
| XIII |
Other equity (excluding revaluation reserves) |
– |
– |
– |
4,264.57 |
4,120.93 |
| XIV |
Earnings per share (₹) (not annualised for the quarter) |
|
|
|
|
|
|
– Basic (₹) |
(8.46) |
7.32 |
(3.20) |
9.36 |
5.25 |
|
– Diluted (₹) |
(8.46) |
7.32 |
(3.20) |
9.36 |
5.25 |
| Sl. No. |
Particulars |
Quarter Ended 31-03-2026 Audited |
Quarter Ended 31-12-2025 Unaudited |
Quarter Ended 31-03-2025 Audited |
Year Ended 31-03-2026 Audited |
Year Ended 31-03-2025 Audited |
| A |
Segment revenue |
|
|
|
|
|
|
Graphite |
596.98 |
647.36 |
526.27 |
2,539.55 |
2,120.05 |
|
Power |
6.23 |
8.30 |
10.31 |
28.95 |
32.66 |
|
Others |
– |
– |
– |
– |
– |
|
Total |
603.21 |
655.66 |
536.58 |
2,568.50 |
2,152.71 |
|
Less: Inter segment sales |
– |
– |
– |
– |
– |
|
Revenue from operations |
603.21 |
655.66 |
536.58 |
2,568.50 |
2,152.71 |
| B |
Segment results |
|
|
|
|
|
|
Graphite |
15.39 |
107.27 |
90.46 |
270.34 |
216.61 |
|
Power |
2.92 |
4.30 |
4.38 |
14.72 |
15.77 |
|
Others |
– |
– |
– |
– |
– |
|
Total |
18.31 |
111.57 |
94.84 |
285.06 |
232.38 |
|
Add/(less): |
|
|
|
|
|
|
Interest income |
7.59 |
8.14 |
2.66 |
22.08 |
19.22 |
|
Gain/(loss) on sale of investments (including gain/(loss) on its fair valuation) |
(190.52) |
75.28 |
(151.68) |
5.44 |
(42.76) |
|
Other unallocable income/(expenses) (on net basis) |
(13.67) |
(5.50) |
(5.41) |
(28.97) |
(21.82) |
|
Finance costs |
(10.72) |
(9.39) |
(12.01) |
(37.21) |
(39.20) |
|
Profit before tax |
(189.01) |
180.10 |
(71.60) |
246.40 |
147.82 |
| C |
Segment assets |
|
|
|
|
|
|
Graphite |
3,718.87 |
3,872.10 |
3,861.14 |
3,718.87 |
3,861.14 |
|
Power |
17.48 |
20.14 |
21.05 |
17.48 |
21.05 |
|
Unallocated / others |
1,957.19 |
1,915.90 |
1,463.62 |
1,957.19 |
1,463.62 |
|
Total assets |
5,693.54 |
5,808.14 |
5,345.81 |
5,693.54 |
5,345.81 |
| D |
Segment liabilities |
|
|
|
|
|
|
Graphite |
1,278.81 |
1,182.00 |
1,065.26 |
1,278.81 |
1,065.26 |
|
Power |
2.97 |
3.00 |
2.50 |
2.97 |
2.50 |
|
Unallocated / others |
108.59 |
155.29 |
118.52 |
108.59 |
118.52 |
|
Total liabilities |
1,390.37 |
1,340.29 |
1,186.28 |
1,390.37 |
1,186.28 |
| Particulars |
As at 31-03-2026 Audited |
As at 31-03-2025 Audited |
| A. ASSETS |
|
|
| (1) Non-current assets |
|
|
| a) Property, Plant and Equipment |
1,735.26 |
1,886.98 |
| b) Capital work-in-progress |
43.34 |
20.87 |
| c) Right of use Asset |
6.07 |
6.25 |
| d) Investment Property |
6.15 |
6.48 |
| e) Other Intangible assets |
0.83 |
1.11 |
| f) Intangible assets under development |
0.66 |
0.49 |
| g) Financial assets |
|
|
| (i) Investments |
1,241.69 |
886.48 |
| (ii) Loans |
0.59 |
0.97 |
| (iii) Other Financial Assets |
42.65 |
52.19 |
| h) Income Tax Assets (Net) |
46.85 |
104.56 |
| i) Other non-current assets |
40.10 |
13.93 |
| Total Non Current Assets |
3,164.19 |
2,980.31 |
| (2) Current assets |
|
|
| (a) Inventories |
1,133.74 |
1,254.64 |
| (b) Financial assets |
|
|
| (i) Investments |
394.95 |
344.81 |
| (ii) Trade receivables |
499.46 |
439.94 |
| (iii) Cash & Cash equivalents |
22.02 |
23.65 |
| (iv) Bank balances other than (iii) above |
45.54 |
94.78 |
| (v) Loans |
209.16 |
0.83 |
| (vi) Others Financial Assets |
82.80 |
68.25 |
| (c) Other current assets |
141.68 |
138.60 |
| Total Current Assets |
2,529.35 |
2,365.50 |
| Total Assets |
5,693.54 |
5,345.81 |
| Particulars |
As at 31-03-2026 Audited |
As at 31-03-2025 Audited |
| B EQUITY AND LIABILITIES |
|
|
| Equity |
|
|
| (a) Equity share capital |
38.60 |
38.60 |
| (b) Other equity |
4,264.57 |
4,120.93 |
| Total equity |
4,303.17 |
4,159.53 |
| LIABILITIES |
|
|
| (1) Non-current liabilities |
|
|
| (a) Financial liabilities |
|
|
| (i) Lease Liabilities |
1.17 |
0.80 |
| (b) Provisions |
6.65 |
5.29 |
| (c) Deferred tax liabilities (Net) |
82.57 |
94.12 |
| (d) Other non-current liabilities |
4.83 |
4.95 |
| Total Non Current Liabilities |
95.22 |
105.16 |
| (2) Current liabilities |
|
|
| (a) Financial liabilities |
|
|
| (i) Borrowings |
793.28 |
584.86 |
| (ia) Lease Liabilities |
0.02 |
0.47 |
| (ii) Trade Payables |
|
|
| (A) Total Outstanding dues of micro enterprises and small enterprises |
25.58 |
10.79 |
| (B) Total Outstanding dues of creditors other than micro enterprises and small enterprises |
362.45 |
387.61 |
| (iii) Other financial liabilities |
74.63 |
61.85 |
| (b) Other current liabilities |
18.31 |
17.03 |
| (c) Provisions |
8.31 |
4.30 |
| (d) Current Tax Liabilities (Net) |
12.57 |
14.21 |
| Total Current Liabilities |
1,295.15 |
1,081.12 |
| Total Liabilities |
1,390.37 |
1,186.28 |
| Total Equity and Liabilities |
5,693.54 |
5,345.81 |
| PARTICULARS |
₹ in Crores |
31-03-2025 Audited |
| A CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Cash flows from/(used in) operating activities (A) |
354.87 |
318.99 |
| Net Cash flows from/(used in) operating activities (A) |
354.87 |
318.99 |
| PARTICULARS |
₹ in Crores |
31-03-2025 Audited |
| B CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Net Cash flows from/(used in) investing activities (B) |
(453.39) |
(246.36) |
| C CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Net Cash flows from/(used in) financing activities (C) |
96.89 |
(159.13) |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (A+B+C) |
(1.63) |
(86.50) |
| Cash and cash equivalents at the beginning of the year |
23.65 |
110.15 |
| Cash and cash equivalents at the end of the year |
22.02 |
23.65 |
| Sl. No. | Particulars | Quarter Ended 31-03-2026 (Audited) | Quarter Ended 31-12-2025 (Unaudited) | Quarter Ended 31-03-2025 (Audited) | Year Ended 31-03-2026 (Audited) | Year Ended 31-03-2025 (Audited) |
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