HEG Advanced Materials shares closed Wednesday's trading session locked in the 20% upper circuit at ₹289 apiece, marking the stock's biggest single-day gain since October 2018. According to reports from LiveMint, the rally also lifted the company's returns in 2026 to 27.35%, putting it on track to post gains for the fourth consecutive year. The multibagger small-cap stock has extended its winning run for the third consecutive year in 2026, even as the broader market came under renewed selling pressure.
For the quarter ended September 2026, HEG Advanced Materials reported consolidated revenue from continuing operations of ₹429.94 crore and total income of ₹546.59 crore. As reported by LiveMint, EBITDA stood at ₹312.78 crore, while profit after tax (PAT) came in at ₹208.89 crore. For H1 FY27, the company achieved consolidated revenue from continuing operations of ₹725.80 crore and total income of ₹870.77 crore, with EBITDA at ₹438 crore and PAT at ₹269.07 crore. The company's consolidated cash and bank balances stood at ₹1,322.84 crore as of September 30, 2026.
The board of HEG Advanced Materials has approved ₹2,581 crore in expansion projects across anode materials, crucibles and graphene manufacturing. According to the company's press release, the board approved an investment of ₹1,606 crore to expand the company's anode materials manufacturing capacity to 44,000 metric tonnes. The first phase, comprising 20,000 metric tonnes, is scheduled for commissioning in June 2027, while the additional 24,000 metric tonnes is targeted for March 2029. The company clarified that current financial results are not comparable with previous figures following the demerger of its graphite electrodes business.
Riju Jhunjhunwala, Chairman, Managing Director, and CEO of HEG Advanced Materials Limited, stated that Q2 FY27 reflected the company's continued progress towards building HEG Advanced Materials into a technology-led, globally competitive advanced materials platform. According to LiveMint, the company's focus remains on strengthening R&D, developing proprietary technologies, and creating differentiated, scalable businesses across anode materials, graphene, battery energy storage, and green power. The management emphasized their motto of 'research to revenue' and priorities including disciplined capital allocation, timely execution, customer development, and improving long-term competitiveness.
From its 2016 low of ₹8.30, the stock has surged 3,369% to trade at its current market price of ₹283 apiece, according to LiveMint. The company, part of the LNJ Bhilwara Group, operates as a new-age platform spanning advanced battery materials with a strong manufacturing, research and development (R&D), and innovation foundation, also engaged in battery energy solutions and green power. Global lithium-ion battery production is expected to grow from around 2.3 TWh in 2025 to approximately 8 TWh by 2035, while non-China anode demand is projected to exceed 1 million tonnes by 2030 as cell manufacturers diversify their supply chains.
