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In the news
HEG Advanced Materials hits 20% upper circuit on strong Q2 results
Saregama shares surge 13.3% to ₹637 on strong Q2 results beating estimates
Replus Engitech secures ₹127 crore battery order from Indus Towers
Order Wins: Revenue Visibility, Margins, and Competitive Edge
HEG's Replus Engitech hits 15% gains on ₹218 cr Indus Towers order
HEG Stock Falls 5% as Salil Bawa Exits Post-Demerger
Stock Performance Drivers: Demergers, IPOs, and Sectoral Shifts
HEG's ₹13,895 Crore Split: Two Companies, One Smart Move
HEG demerger completed: Shares rise 3% on debut, valued at ₹5,300 cr
HEG's Bold Split: Two Companies, One Strategic Vision
HEG demerger effective Sept 1, creates two listed entities
HEG gets NCLT approval for demerger into two listed companies
Choice Broking bullish on HEG, Supreme Industries, Astra Micro
Neogen Chemicals beats Q1 profit estimates, raises guidance
HEG Q1 profit rises 16.7% to ₹122 crore, shares surge 13%
IIFL Capital's GV Giri sees upside in financials, metals & tech
HEG Q4 net loss widens to ₹114 cr despite 12% revenue growth
HEG, Graphite India surge 13% on GrafTech price hike
HEG Greentech demerger: ₹500 crore funding for clean-tech pivot
HEG subsidiary TACC signs long-term nitrogen supply pact
The Quarter story
The two most recent quarterly results, compared side-by-side.
HEG Ltd rebounds strongly in Q2 FY27 with record profits, though input costs and debt remain watch items.
PAT recovered from a loss of ₹113.77 Cr in Q4 FY26 to ₹306.1 Cr in Q2 FY27 — strong profitability turnaround
PAT margin compressed from 19% in Q3 FY26 to 15% in Q1 FY27 — profitability per rupee of sales is declining
Revenue from operations grew from ₹603 Cr in Q4 FY26 to ₹956.4 Cr in Q2 FY27 — significant top-line expansion
Power and fuel costs peaked at ₹100.02 Cr in Q1 FY27 from ₹92.58 Cr in Q2 FY26 — rising energy expenses
Global crude steel production rose from 424.2 MT in Q3 FY26 to 468.3 MT in Q1 FY27 — increased industrial output
Finance costs doubled from ₹8.92 Cr in Q2 FY26 to ₹19.7 Cr in Q2 FY27 — higher interest burden on debt
Cost of materials consumed rose from ₹234.10 Cr in Q2 FY26 to ₹265.17 Cr in Q1 FY27 — persistent input inflation
Company insights, generated from the most recent coverage.
Anode Phase-1 and Phase-2 both sit on the existing Dewas site and share one 220 kV power connection. Sharing power and site infrastructure keeps incremental phase capex lower than a greenfield build.
Management targets non-China anode demand above 1 million tonnes by 2030 and cites MoUs covering over 100,000 MT under discussion. Even if only a third converts, a 44,000 MT plant is absorbable — but none of it is signed.
Needle coke, the key electrode input, is deliberately unhedged because its price tracks electrode prices. That removes a cost lever — if the correlation ever breaks, margin has no protection.