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Nifty
Sensex
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:
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169.90 (0.68%)
594.95 (0.73%)

HEG Ltd.

Electrodes & Welding Equipment

Rating :
51/99

BSE: 509631 | NSE: HEG

NSE BSE
510.50
16-Sep-2025
  • Open
  • High
  • Low
  • Previous Close
  •  516
  •  529.45
  •  508.15
  •  514.45
  • Volume
  • Traded Value (lacs)
  • 52 Week High
  • 52 Week Low
  •  1206242
  •  626366751.55
  •  619.5
  •  331.25

Stock Summary

  • Market Cap(Crs)
  • Stock P:E
  • Face Value
  • 9,852.47
  • 50.05
  • 2
  • Enterprise Value(Crs)
  • Dividend Yield
  • Price:Book Value
  • 10,290.28
  • 0.35%
  • 2.17

Shareholding Pattern

  • Promoter
  • Corporate
  • Public
  • 55.78%
  • 3.07%
  • 16.95%
  • FII
  • DII
  • Others
  • 7.29%
  • 10.77%
  • 6.14%

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 9.52
  • 11.45
  • -4.34

EBITDA CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 6.74
  • -
  • -16.23

PAT CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • -
  • -
  • -39.99

P:E (Median)

  • 8 Years
  • 5 Years
  • 3 Years
  • 9.97
  • 15.10
  • 18.55

P:BV (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 2.80
  • 1.62
  • 1.62

EV:EBITDA (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 21.93
  • 18.92
  • 14.22

Earnings Forecasts:

(Updated: 16-09-2025)
Description
2024
2025
2026
2027
Adj EPS
5.96
9.5
18.7
24.7
P/E Ratio
85.65
53.74
27.30
20.67
Revenue
2144.32
2477.8
3085
3990.3
EBITDA
255.11
403.8
685.5
929
Net Income
115.06
183.8
360.8
477.1
ROA
2.03
P/B Ratio
2.21
2.12
1.97
1.80
ROE
2.59
4
7.2
8.7
FCFF
95.34
FCFF Yield
0.97
Net Debt
47.56
BVPS
230.79
240.3
259
283.7

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone
Description
Jun 25
Jun 24
Var%
Mar 25
Mar 24
Var%
Dec 24
Dec 23
Var%
Sep 24
Sep 23
Var%
Net Sales
616.93
571.46
7.96%
542.25
546.90
-0.85%
478.38
562.40
-14.94%
567.60
614.17
-7.58%
Expenses
511.50
532.77
-3.99%
597.72
504.11
18.57%
398.52
475.76
-16.24%
470.99
512.32
-8.07%
EBITDA
105.43
38.69
172.50%
-55.47
42.79
-
79.86
86.64
-7.83%
96.61
101.85
-5.14%
EBIDTM
17.09%
6.77%
-10.23%
7.82%
16.69%
15.41%
17.02%
16.58%
Other Income
66.92
20.44
227.40%
48.02
64.31
-25.33%
111.58
23.22
380.53%
42.95
28.02
53.28%
Interest
8.18
8.47
-3.42%
12.01
8.63
39.17%
9.38
9.73
-3.60%
9.34
8.53
9.50%
Depreciation
53.05
47.50
11.68%
54.59
50.44
8.23%
50.56
47.39
6.69%
47.94
38.48
24.58%
PBT
111.12
3.16
3,416.46%
-74.05
48.03
-
131.50
52.74
149.34%
82.28
82.86
-0.70%
Tax
22.63
0.69
3,179.71%
-10.93
13.46
-
35.17
15.75
123.30%
20.39
21.70
-6.04%
PAT
88.49
2.47
3,482.59%
-63.12
34.57
-
96.33
36.99
160.42%
61.89
61.16
1.19%
PATM
14.34%
0.43%
-11.64%
6.32%
20.14%
6.58%
10.90%
9.96%
EPS
5.43
1.19
356.30%
-3.82
1.71
-
4.32
2.26
91.15%
0.85
4.97
-82.90%

Annual Results

Consolidated Figures in Rs. Crores /

Standalone
Description
TTM
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Mar 16
Net Sales
2,205.16
2,159.69
2,394.90
2,467.24
2,201.61
1,256.23
2,149.02
6,592.83
2,750.07
860.04
869.50
Net Sales Growth
-3.91%
-9.82%
-2.93%
12.07%
75.26%
-41.54%
-67.40%
139.73%
219.76%
-1.09%
 
Cost Of Goods Sold
881.92
903.76
1,151.39
915.56
829.01
809.09
1,621.08
1,114.78
283.76
243.96
210.38
Gross Profit
1,323.24
1,255.93
1,243.52
1,551.68
1,372.60
447.14
527.95
5,478.04
2,466.31
616.08
659.12
GP Margin
60.01%
58.15%
51.92%
62.89%
62.35%
35.59%
24.57%
83.09%
89.68%
71.63%
75.80%
Total Expenditure
1,978.73
1,904.58
2,012.47
1,848.84
1,674.39
1,315.41
2,154.85
1,934.58
1,051.31
779.83
736.62
Power & Fuel Cost
-
331.67
310.08
315.90
271.11
141.85
165.83
184.00
359.26
263.23
239.85
% Of Sales
-
15.36%
12.95%
12.80%
12.31%
11.29%
7.72%
2.79%
13.06%
30.61%
27.58%
Employee Cost
-
103.67
95.27
92.05
80.00
54.53
65.60
197.57
112.44
58.78
62.58
% Of Sales
-
4.80%
3.98%
3.73%
3.63%
4.34%
3.05%
3.00%
4.09%
6.83%
7.20%
Manufacturing Exp.
-
247.56
227.44
248.89
223.95
132.05
137.45
182.59
133.61
120.47
125.26
% Of Sales
-
11.46%
9.50%
10.09%
10.17%
10.51%
6.40%
2.77%
4.86%
14.01%
14.41%
General & Admin Exp.
-
36.85
31.59
29.33
23.19
33.46
40.00
51.14
29.72
14.72
14.37
% Of Sales
-
1.71%
1.32%
1.19%
1.05%
2.66%
1.86%
0.78%
1.08%
1.71%
1.65%
Selling & Distn. Exp.
-
190.70
155.14
213.11
185.26
78.95
82.67
156.85
120.58
67.50
70.93
% Of Sales
-
8.83%
6.48%
8.64%
8.41%
6.28%
3.85%
2.38%
4.38%
7.85%
8.16%
Miscellaneous Exp.
-
90.37
41.55
34.01
61.86
65.48
42.22
47.64
11.95
11.16
70.93
% Of Sales
-
4.18%
1.73%
1.38%
2.81%
5.21%
1.96%
0.72%
0.43%
1.30%
1.52%
EBITDA
226.43
255.11
382.43
618.40
527.22
-59.18
-5.83
4,658.25
1,698.76
80.21
132.88
EBITDA Margin
10.27%
11.81%
15.97%
25.06%
23.95%
-4.71%
-0.27%
70.66%
61.77%
9.33%
15.28%
Other Income
269.47
127.57
141.67
109.14
79.55
112.91
143.76
109.19
34.93
7.65
7.69
Interest
38.91
39.20
35.74
26.01
7.49
11.37
36.51
17.97
56.42
54.72
60.31
Depreciation
206.14
200.59
174.65
102.30
79.29
73.12
72.13
72.39
72.56
73.92
79.30
PBT
250.85
142.89
313.71
599.22
520.00
-30.76
29.29
4,677.08
1,604.71
-40.77
0.96
Tax
67.26
45.31
83.70
144.96
129.41
-5.46
-24.08
1,626.65
523.37
9.27
8.51
Tax Rate
26.81%
31.71%
26.68%
24.19%
24.89%
17.75%
-82.21%
34.78%
32.61%
-22.74%
886.46%
PAT
183.59
115.06
311.68
532.41
431.04
-25.30
53.37
3,050.43
1,081.34
-50.05
-7.55
PAT before Minority Interest
183.59
115.06
311.68
532.41
431.04
-25.30
53.37
3,050.43
1,081.34
-50.05
-7.55
Minority Interest
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
PAT Margin
8.33%
5.33%
13.01%
21.58%
19.58%
-2.01%
2.48%
46.27%
39.32%
-5.82%
-0.87%
PAT Growth
35.80%
-63.08%
-41.46%
23.52%
-
-
-98.25%
182.10%
-
-
 
EPS
9.51
5.96
16.15
27.59
22.33
-1.31
2.77
158.05
56.03
-2.59
-0.39

Results Balance Sheet

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Mar 16
Shareholder's Funds
4,453.77
4,425.94
4,280.94
3,913.63
3,495.07
3,511.72
3,793.69
1,907.52
952.56
995.86
Share Capital
38.60
38.60
38.60
38.60
38.60
38.60
38.60
39.96
39.96
39.96
Total Reserves
4,415.17
4,387.35
4,242.34
3,875.03
3,456.48
3,473.12
3,755.09
1,867.56
912.60
955.90
Non-Current Liabilities
108.91
107.86
94.93
107.22
105.06
110.12
132.81
125.08
202.28
468.02
Secured Loans
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
135.64
156.55
Unsecured Loans
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Long Term Provisions
6.80
4.98
3.06
3.81
3.58
3.91
3.87
3.41
3.43
259.02
Current Liabilities
1,085.49
1,167.56
1,316.09
1,415.00
644.03
816.51
1,217.87
706.50
697.67
745.28
Trade Payables
399.29
425.30
411.95
447.89
257.31
133.81
380.07
246.44
86.49
51.72
Other Current Liabilities
82.54
106.95
143.74
162.71
79.08
78.80
146.23
121.00
198.64
171.80
Short Term Borrowings
584.86
619.38
740.91
663.40
296.51
592.62
666.36
297.45
411.84
520.00
Short Term Provisions
18.80
15.93
19.50
141.00
11.12
11.28
25.21
41.60
0.70
1.77
Total Liabilities
5,648.17
5,701.36
5,691.96
5,435.85
4,244.16
4,438.35
5,144.37
2,739.10
1,852.51
2,209.16
Net Block
1,931.81
1,808.74
1,355.50
755.17
694.01
741.27
784.84
829.65
885.04
932.43
Gross Block
3,444.56
3,151.72
2,535.35
1,842.71
1,717.19
1,713.17
1,691.37
1,673.40
1,665.86
1,645.81
Accumulated Depreciation
1,512.74
1,342.98
1,179.85
1,087.54
1,023.18
971.90
906.53
843.75
780.82
713.38
Non Current Assets
3,191.61
3,071.53
2,839.50
2,300.91
2,170.53
2,379.47
1,708.85
1,124.37
1,152.06
1,473.97
Capital Work in Progress
71.38
212.27
472.01
696.08
373.27
100.61
18.58
1.61
1.20
26.70
Non Current Investment
1,007.16
876.13
735.57
501.99
798.59
1,231.59
837.03
251.88
233.88
226.93
Long Term Loans & Adv.
171.33
165.36
266.27
232.34
279.48
301.48
65.24
41.09
29.55
287.91
Other Non Current Assets
3.45
2.12
2.90
107.73
25.19
4.52
3.17
0.13
2.38
0.00
Current Assets
2,456.55
2,629.83
2,852.46
3,134.94
2,073.63
2,058.88
3,435.51
1,614.74
700.45
735.19
Current Investments
393.07
323.61
123.69
668.86
559.10
16.53
108.24
0.00
0.55
0.47
Inventories
1,254.64
1,194.15
1,440.12
977.81
580.61
1,005.14
1,308.39
511.44
257.80
371.19
Sundry Debtors
444.70
508.25
489.14
589.17
289.42
399.41
1,186.89
972.69
360.79
318.48
Cash & Bank
147.04
410.24
690.34
601.66
550.58
437.28
557.32
7.62
8.28
5.15
Other Current Assets
217.11
124.83
59.85
61.71
93.93
200.51
274.68
122.99
73.04
39.89
Short Term Loans & Adv.
65.64
68.75
49.33
235.72
42.24
27.16
108.22
42.19
28.45
6.70
Net Current Assets
1,371.07
1,462.27
1,536.37
1,719.94
1,429.60
1,242.37
2,217.65
908.24
2.78
-10.09
Total Assets
5,648.16
5,701.36
5,691.96
5,435.85
4,244.16
4,438.35
5,144.36
2,739.11
1,852.51
2,209.16

Cash Flow

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Mar 16
Cash From Operating Activity
279.71
612.22
113.32
-140.61
715.79
738.71
1,488.23
594.06
157.04
249.29
PBT
160.37
395.38
677.37
560.46
-23.40
29.29
4,677.08
1,604.71
-40.77
0.96
Adjustment
237.79
19.46
-26.12
-18.08
-6.89
-30.63
-27.42
119.51
132.84
146.34
Changes in Working Capital
-73.73
232.81
-389.92
-554.83
748.56
843.81
-1,534.78
-606.79
74.68
110.38
Cash after chg. in Working capital
324.43
647.65
261.33
-12.46
718.27
842.47
3,114.88
1,117.43
166.76
257.68
Interest Paid
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Tax Paid
-44.72
-35.43
-148.01
-128.15
-2.49
-103.76
-1,626.65
-523.37
-9.72
-8.39
Other Direct Exp. Paid
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Extra & Other Items
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Cash From Investing Activity
-208.45
-184.34
-21.11
-183.36
-417.40
-275.45
-675.78
-9.17
-1.35
-28.77
Net Fixed Assets
-112.70
-305.19
-468.57
-448.33
-276.68
-103.83
-34.94
-7.95
5.45
-22.69
Net Investments
-235.18
-331.81
369.63
227.32
-101.97
-288.70
-717.60
0.71
-1.12
-3.01
Others
139.43
452.66
77.83
37.65
-38.75
117.08
76.76
-1.93
-5.68
-3.07
Cash from Financing Activity
-159.15
-324.12
-99.95
343.63
-309.82
-459.62
-788.47
-587.96
-152.56
-219.47
Net Cash Inflow / Outflow
-87.89
103.76
-7.75
19.66
-11.43
3.64
23.99
-3.08
3.13
1.05
Opening Cash & Equivalents
137.05
33.29
41.04
21.37
32.80
29.16
5.17
8.25
5.15
4.10
Closing Cash & Equivalent
50.76
137.05
33.29
41.04
21.37
32.80
29.16
5.17
8.28
5.15

Financial Ratios

Consolidated /

Standalone
Description
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Mar 16
Book Value (Rs.)
230.79
229.35
221.84
1014.01
905.57
909.88
982.93
477.37
238.38
249.22
ROA
2.03%
5.47%
9.57%
8.91%
-0.58%
1.11%
77.39%
47.10%
-2.46%
-0.32%
ROE
2.59%
7.16%
12.99%
11.64%
-0.72%
1.46%
107.01%
75.62%
-5.14%
-0.75%
ROCE
3.96%
8.56%
14.66%
13.57%
-0.49%
1.54%
140.89%
86.49%
0.82%
3.30%
Fixed Asset Turnover
0.66
0.84
1.13
1.24
0.73
1.26
3.92
1.65
0.66
0.69
Receivable days
79.87
75.80
79.63
72.81
99.97
134.71
59.78
88.22
114.02
119.91
Inventory Days
205.25
200.19
178.56
129.14
230.14
196.47
50.38
50.89
105.58
128.05
Payable days
166.51
132.71
171.39
155.24
88.22
43.73
52.07
45.97
26.82
33.00
Cash Conversion Cycle
118.60
143.29
86.80
46.70
241.89
287.45
58.09
93.14
192.77
214.96
Total Debt/Equity
0.13
0.14
0.17
0.17
0.08
0.17
0.18
0.16
0.72
0.78
Interest Cover
5.09
12.06
27.04
75.85
-1.71
1.80
261.29
29.44
0.25
1.02

Annual Reports:

FY 2025
FY 2024
FY 2023
FY 2022
FY 2021
FY 2020
FY 2019
FY 2018
FY 2017
FY 2016

News Update:


  • LNJ Bhilwara strengthens renewable energy portfolio by acquiring stake from Statkraft
    10th Sep 2025, 15:11 PM

    The transaction includes Statkraft's stake in the Malana Hydropower Plant and Allain Duhangan Hydropower Plant, both located in Himachal Pradesh

    Read More
  • HEG’s arm signs technical collaboration agreement with Ceylon Graphene Technologies
    30th Aug 2025, 17:22 PM

    The Agreement is to jointly accelerate the commercialization and large-scale adoption of graphene and its derivatives

    Read More
  • HEG gets nod to expand capacity for Graphite Electrodes and related products
    31st Jul 2025, 11:52 AM

    The expansion will be financed through internal accruals and potentially debt and is expected to be completed within 30 months

    Read More
  • HEG - Quarterly Results
    30th Jul 2025, 17:12 PM

    Read More
  • HEG’s arm signs MoU with NCB
    22nd Jul 2025, 16:30 PM

    This collaboration will drive advancements in next generation construction materials, paving the way for high-performance, sustainable infrastructure

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