Market Cap ₹9934 Cr.
Stock P/E 31.9
P/B 2.4
Current Price ₹514.8
Book Value ₹ 213.7
Face Value 2
52W High ₹619.3
Dividend Yield 0.87%
52W Low ₹ 317.4
HEG Ltd is engaged in manufacturing and exporting graphite electrodes. The Company's segments include Graphite electrodes (along with other carbon products) and Power. The Graphite electrodes are used in steelmaking via the Electric Arc Furnace (EAF) course that is in metallic making about 1.5-2.0 kg of graphite electrode. The Power generation is made out of two thermal electricity plants and a hydroelectric power facility for its graphite electrode. It also operates three power generation facilities with a total rated capacity of over 77 megawatt (MW). Its energy plants are positioned in Tawanagar, District Hoshangabad, Madhya Pradesh, and it additionally operates about 12.8-MW waste heat recovery power plant in District Durg, Chhattisgarh.
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₹ | |
| #(Fig in Cr.) | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 191 | 186 | 174 | 204 | 251 | 267 | 214 | 410 | 843 | 1292 |
| Other Income | 1 | 1 | 1 | 4 | 1 | 1 | 1 | 3 | 5 | 4 |
| Total Income | 192 | 187 | 175 | 207 | 253 | 268 | 214 | 412 | 848 | 1296 |
| Total Expenditure | 151 | 176 | 171 | 185 | 222 | 237 | 190 | 220 | 285 | 342 |
| Operating Profit | 41 | 11 | 4 | 22 | 30 | 31 | 24 | 192 | 563 | 955 |
| Interest | 13 | 13 | 13 | 15 | 14 | 12 | 13 | 13 | 13 | 18 |
| Depreciation | 20 | 20 | 19 | 18 | 18 | 18 | 18 | 18 | 19 | 18 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 7 | -23 | -28 | -12 | -2 | 1 | -7 | 161 | 531 | 919 |
| Provision for Tax | 1 | 5 | 1 | 2 | 2 | 4 | 2 | 47 | 189 | 285 |
| Profit After Tax | 6 | -27 | -29 | -14 | -4 | -3 | -8 | 114 | 342 | 634 |
| Adjustments | -6 | 27 | 29 | 14 | 4 | 3 | 8 | -114 | -342 | -634 |
| Profit After Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted Earnings Per Share | 0.3 | -1.4 | -1.4 | -0.7 | -0.2 | -0.2 | -0.4 | 5.7 | 17.1 | 31.7 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1467 | 1233 | 870 | 860 | 2750 | 6593 | 2149 | 1256 | 2202 | 2467 | 2395 | 2759 |
| Other Income | 22 | 15 | 8 | 8 | 35 | 109 | 144 | 113 | 80 | 109 | 142 | 13 |
| Total Income | 1489 | 1248 | 877 | 868 | 2785 | 6702 | 2293 | 1369 | 2281 | 2576 | 2537 | 2770 |
| Total Expenditure | 1221 | 1051 | 737 | 780 | 1051 | 1935 | 2155 | 1315 | 1674 | 1848 | 2011 | 1037 |
| Operating Profit | 268 | 197 | 141 | 88 | 1734 | 4767 | 138 | 54 | 607 | 729 | 526 | 1734 |
| Interest | 72 | 77 | 60 | 55 | 56 | 18 | 37 | 11 | 7 | 26 | 36 | 57 |
| Depreciation | 73 | 75 | 79 | 74 | 73 | 72 | 72 | 73 | 79 | 102 | 175 | 73 |
| Exceptional Income / Expenses | -25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 97 | 44 | 1 | -41 | 1605 | 4677 | 29 | -31 | 520 | 600 | 315 | 1604 |
| Provision for Tax | 11 | 5 | 9 | 9 | 523 | 1627 | -24 | -5 | 129 | 145 | 84 | 523 |
| Profit After Tax | 87 | 39 | -8 | -50 | 1081 | 3050 | 53 | -25 | 391 | 456 | 232 | 1082 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1082 |
| Profit After Adjustments | 87 | 39 | -8 | -50 | 1081 | 3050 | 53 | -25 | 391 | 456 | 232 | 0 |
| Adjusted Earnings Per Share | 4.3 | 2 | -0.4 | -2.5 | 54.1 | 158.1 | 2.8 | -1.3 | 20.2 | 23.6 | 12 | 54.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -3% | 24% | -18% | 5% |
| Operating Profit CAGR | -28% | 114% | -36% | 7% |
| PAT CAGR | -49% | 0% | -40% | 10% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 43% | 18% | 18% | 27% |
| ROE Average | 6% | 9% | 6% | 21% |
| ROCE Average | 7% | 11% | 7% | 26% |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 924 | 941 | 921 | 872 | 1809 | 3719 | 3423 | 3399 | 3777 | 4077 | 4145 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 169 | 252 | 157 | 136 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 394 | 409 | 311 | 67 | 125 | 133 | 110 | 105 | 107 | 95 | 106 |
| Total Current Liabilities | 1258 | 887 | 745 | 698 | 706 | 1218 | 817 | 644 | 1415 | 1316 | 1165 |
| Total Liabilities | 2744 | 2489 | 2134 | 1772 | 2640 | 5070 | 4350 | 4148 | 5299 | 5488 | 5417 |
| Fixed Assets | 941 | 907 | 932 | 885 | 830 | 785 | 741 | 691 | 755 | 1356 | 1776 |
| Other Non-Current Assets | 601 | 648 | 467 | 186 | 196 | 849 | 1549 | 1383 | 1409 | 1289 | 1041 |
| Total Current Assets | 1203 | 935 | 735 | 700 | 1615 | 3436 | 2059 | 2074 | 3135 | 2844 | 2600 |
| Total Assets | 2744 | 2489 | 2134 | 1772 | 2640 | 5070 | 4350 | 4148 | 5299 | 5488 | 5417 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 15 | 12 | 4 | 5 | 8 | 5 | 29 | 33 | 21 | 41 | 24 |
| Cash Flow from Operating Activities | 773 | 276 | 249 | 157 | 594 | 1488 | 739 | 716 | -141 | 114 | 615 |
| Cash Flow from Investing Activities | -294 | -83 | -29 | -1 | -9 | -676 | -275 | -417 | -183 | -31 | -205 |
| Cash Flow from Financing Activities | -482 | -202 | -219 | -153 | -588 | -788 | -460 | -310 | 344 | -100 | -324 |
| Net Cash Inflow / Outflow | -3 | -8 | 1 | 3 | -3 | 24 | 4 | -11 | 20 | -17 | 86 |
| Closing Cash & Cash Equivalent | 12 | 4 | 5 | 8 | 5 | 29 | 33 | 21 | 41 | 24 | 110 |
| # | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 4.34 | 1.95 | -0.38 | -2.5 | 54.12 | 158.07 | 2.77 | -1.31 | 20.24 | 23.6 | 12 |
| CEPS(Rs) | 7.97 | 5.72 | 3.59 | 1.19 | 57.75 | 161.82 | 6.5 | 2.48 | 24.35 | 28.91 | 21.05 |
| DPS(Rs) | 1.2 | 0.6 | 0 | 0 | 16 | 16 | 5 | 0.6 | 8 | 8.5 | 4.5 |
| Book NAV/Share(Rs) | 46.25 | 47.08 | 46.1 | 43.63 | 90.52 | 192.72 | 177.37 | 176.12 | 195.71 | 211.28 | 214.8 |
| Core EBITDA Margin(%) | 14.5 | 12.39 | 12.06 | 7.38 | 61.58 | 70.66 | -0.27 | -4.71 | 23.94 | 25.07 | 15.99 |
| EBIT Margin(%) | 10.01 | 8.28 | 5.56 | 1.28 | 60.22 | 71.21 | 3.06 | -1.54 | 23.95 | 25.35 | 14.62 |
| Pre Tax Margin(%) | 5.74 | 3.02 | 0.09 | -3.75 | 58.18 | 70.94 | 1.36 | -2.45 | 23.61 | 24.3 | 13.13 |
| PAT Margin (%) | 5.11 | 2.66 | -0.69 | -4.6 | 39.2 | 46.27 | 2.48 | -2.01 | 17.74 | 18.43 | 9.64 |
| Cash Profit Margin (%) | 9.39 | 7.8 | 6.51 | 2.2 | 41.83 | 47.37 | 5.84 | 3.8 | 21.34 | 22.57 | 16.91 |
| ROA(%) | 3.06 | 1.49 | -0.33 | -2.56 | 49.02 | 79.13 | 1.13 | -0.6 | 8.27 | 8.45 | 4.25 |
| ROE(%) | 9.69 | 4.18 | -0.81 | -5.58 | 80.68 | 110.37 | 1.49 | -0.74 | 10.89 | 11.6 | 5.63 |
| ROCE(%) | 8.06 | 6.38 | 3.44 | 0.86 | 90.73 | 144.65 | 1.57 | -0.5 | 12.97 | 13.53 | 7.33 |
| Receivable days | 120.75 | 115.7 | 119.91 | 114.02 | 88.22 | 59.78 | 134.71 | 99.97 | 72.81 | 79.63 | 75.8 |
| Inventory Days | 118.52 | 111.54 | 128.05 | 105.58 | 50.89 | 50.38 | 196.47 | 230.14 | 129.14 | 178.56 | 200.2 |
| Payable days | 131.71 | 158.55 | 156.7 | 103.38 | 213.89 | 102.44 | 57.82 | 88.13 | 155.15 | 171.39 | 132.61 |
| PER(x) | 9.28 | 22.31 | 0 | 0 | 11.76 | 2.65 | 35.06 | 0 | 13.58 | 7.8 | 30.73 |
| Price/Book(x) | 0.87 | 0.93 | 0.6 | 1.02 | 7.03 | 2.17 | 0.55 | 1.66 | 1.4 | 0.87 | 1.72 |
| Dividend Yield(%) | 2.98 | 1.38 | 0 | 0 | 2.51 | 3.82 | 5.16 | 0.2 | 2.91 | 4.62 | 1.22 |
| EV/Net Sales(x) | 1.24 | 1.45 | 1.53 | 1.82 | 4.73 | 1.24 | 0.94 | 4.3 | 2.44 | 1.46 | 3.07 |
| EV/Core EBITDA(x) | 6.79 | 9.06 | 9.48 | 17.82 | 7.5 | 1.72 | 14.69 | 100.45 | 8.84 | 4.96 | 13.99 |
| Net Sales Growth(%) | -9.6 | -15.94 | -29.48 | -1.09 | 219.76 | 139.73 | -67.4 | -41.54 | 75.26 | 12.07 | -2.93 |
| EBIT Growth(%) | -10.13 | -28.45 | -49.55 | -77.24 | 0 | 182.64 | -98.6 | -129.47 | 2820.42 | 18.77 | -43.98 |
| PAT Growth(%) | -18.13 | -54.97 | -119.36 | -562.88 | 2260.73 | 182.1 | -98.25 | -147.4 | 1643.84 | 16.62 | -49.17 |
| EPS Growth(%) | -18.13 | -54.97 | -119.36 | -562.9 | 2260.73 | 192.06 | -98.25 | -147.4 | 1643.84 | 16.62 | -49.17 |
| Debt/Equity(x) | 1.11 | 0.97 | 0.85 | 0.78 | 0.16 | 0.18 | 0.17 | 0.09 | 0.18 | 0.18 | 0.15 |
| Current Ratio(x) | 0.96 | 1.05 | 0.99 | 1 | 2.29 | 2.82 | 2.52 | 3.22 | 2.22 | 2.16 | 2.23 |
| Quick Ratio(x) | 0.56 | 0.6 | 0.49 | 0.63 | 1.56 | 1.75 | 1.29 | 2.32 | 1.52 | 1.07 | 1.21 |
| Interest Cover(x) | 2.35 | 1.57 | 1.02 | 0.25 | 29.42 | 261.29 | 1.8 | -1.71 | 70.45 | 24.09 | 9.82 |
| Total Debt/Mcap(x) | 1.28 | 1.05 | 1.41 | 0.77 | 0.02 | 0.08 | 0.32 | 0.05 | 0.13 | 0.21 | 0.09 |
| # | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 55.13 | 55.13 | 55.13 | 55.78 | 55.78 | 55.78 | 55.78 | 55.78 | 55.78 | 55.78 |
| FII | 6.81 | 5.68 | 4.98 | 6.25 | 6.73 | 6.81 | 6.86 | 6.86 | 6.05 | 6.92 |
| DII | 8.45 | 8.52 | 6.68 | 6.26 | 7.43 | 7.21 | 8.86 | 10.38 | 13.09 | 12.8 |
| Public | 29.61 | 30.68 | 33.22 | 31.71 | 30.06 | 30.2 | 28.51 | 26.98 | 25.08 | 24.5 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.13 | 2.13 | 2.13 | 2.15 | 2.15 | 2.15 | 2.15 | 2.15 | 2.15 | 2.15 |
| FII | 0.26 | 0.22 | 0.19 | 0.24 | 0.26 | 0.26 | 0.26 | 0.26 | 0.23 | 0.27 |
| DII | 0.33 | 0.33 | 0.26 | 0.24 | 0.29 | 0.28 | 0.34 | 0.4 | 0.51 | 0.49 |
| Public | 1.14 | 1.18 | 1.28 | 1.22 | 1.16 | 1.17 | 1.1 | 1.04 | 0.97 | 0.95 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 3.86 | 3.86 | 3.86 | 3.86 | 3.86 | 3.86 | 3.86 | 3.86 | 3.86 | 3.86 |
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