Share Price and Basic Stock Data
Last Updated: November 13, 2025, 9:00 pm
| PEG Ratio | -2.65 |
|---|
Analyst Insight & Comprehensive Analysis
Business Overview and Revenue Trends
HEG Ltd, a player in the graphite electrodes industry, reported a price of ₹535 and a market capitalization of ₹10,320 Cr. The company has demonstrated fluctuating revenue trends, with total sales reported at ₹2,463 Cr for the fiscal year ending March 2023, a decline from ₹2,201 Cr in March 2022. The trailing twelve months (TTM) sales stood at ₹2,205 Cr, indicating a slight recovery. Quarterly sales figures have varied, with the latest recorded sales of ₹614 Cr in September 2023, down from ₹671 Cr in June 2023. The company’s operating profit margin (OPM) for the same quarter was 17%, reflecting a decrease from previous quarters, highlighting the volatility in operational efficiency. Over the past year, the company’s revenue has been impacted by fluctuating demand and pricing pressures in the graphite electrode market, which are influenced by global steel production trends.
Profitability and Efficiency Metrics
HEG Ltd’s profitability metrics reveal a challenging landscape, with a net profit of ₹197 Cr reported for the fiscal year ending March 2025, down from ₹532 Cr in March 2023. The company’s return on equity (ROE) stood at a modest 2.59%, while return on capital employed (ROCE) was reported at 3.96%. The operating profit margin (OPM) has shown a declining trend, with the latest quarterly OPM at 17% compared to 25% in March 2023. The interest coverage ratio (ICR) of 9.76x indicates that the company is managing its interest obligations effectively, but the declining profitability raises concerns about long-term sustainability. Additionally, the cash conversion cycle (CCC) was recorded at 421 days, which is significantly higher than typical industry norms, suggesting potential inefficiencies in working capital management.
Balance Sheet Strength and Financial Ratios
HEG Ltd’s balance sheet reflects a solid capital structure, with total reserves increasing to ₹4,415 Cr as of March 2025. The company reported borrowings of ₹588 Cr, resulting in a low debt-to-equity ratio of 0.13, indicating a conservative leverage position. The current ratio stood at 2.26, demonstrating a strong liquidity position, while the quick ratio was at 1.11, suggesting adequate short-term financial flexibility. However, the price-to-book value (P/BV) ratio of 2.10x indicates that the stock is trading at a premium compared to its book value, which may concern value investors. The company’s asset turnover ratio of 0.38% reflects lower efficiency in utilizing its assets to generate revenue compared to sector norms, which typically range higher, pointing to the need for improved operational efficiency.
Shareholding Pattern and Investor Confidence
HEG Ltd’s shareholding pattern indicates a stable ownership structure, with promoters holding 55.77% of the stake as of March 2025. Foreign institutional investors (FIIs) accounted for 7.97%, while domestic institutional investors (DIIs) held 11.99%. The public shareholding stood at 24.27%, reflecting a diversified ownership base. Notably, the number of shareholders decreased to 1,41,576, down from 1,52,118 in December 2022, which may indicate a decline in retail investor confidence. The recent fluctuations in share price and profitability metrics could be contributing factors to this trend. Despite these challenges, the consistent promoter holding suggests a long-term commitment to the company’s growth, potentially instilling confidence among existing investors.
Outlook, Risks, and Final Insight
The outlook for HEG Ltd remains cautiously optimistic, given its strong balance sheet and stable promoter backing. However, the company faces significant risks including declining profitability, operational inefficiencies reflected in high CCC, and potential market volatility due to fluctuating demand in the graphite electrode sector. If the company can improve its operational efficiencies and manage its working capital effectively, it may navigate these challenges successfully. Conversely, continued pressure on margins and reduced demand could lead to further declines in profitability. Investors should monitor the company’s strategic initiatives aimed at enhancing operational performance and adapting to market changes to assess future growth potential.
Source: Getaka Fundamental Analysis | Generated using proprietary financial data.
Competitors of HEG Ltd
| Stock Name ⇩ | Market Cap ⇩ | Current Price ⇩ | High / Low ⇩ | Stock P/E ⇩ | Book Value ⇩ | Dividend Yield ⇩ | ROCE ⇩ | ROE ⇩ | Face Value ⇩ |
|---|---|---|---|---|---|---|---|---|---|
| HEG Ltd | 9,936 Cr. | 515 | 622/331 | 38.5 | 242 | 0.35 % | 3.96 % | 2.59 % | 2.00 |
| Graphite India Ltd | 11,161 Cr. | 571 | 652/366 | 46.3 | 301 | 1.93 % | 10.1 % | 8.00 % | 2.00 |
| DE Nora India Ltd | 400 Cr. | 751 | 1,458/675 | 151 | 240 | 0.00 % | 0.88 % | 1.84 % | 10.0 |
| Industry Average | 7,165.67 Cr | 612.33 | 78.60 | 261.00 | 0.76% | 4.98% | 4.14% | 4.67 |
Quarterly Result
| Metric | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 722 | 598 | 530 | 617 | 671 | 614 | 562 | 547 | 571 | 568 | 478 | 542 | 617 |
| Expenses | 538 | 419 | 398 | 493 | 520 | 512 | 476 | 506 | 533 | 471 | 411 | 608 | 512 |
| Operating Profit | 184 | 179 | 132 | 123 | 151 | 102 | 87 | 41 | 39 | 97 | 67 | -66 | 105 |
| OPM % | 25% | 30% | 25% | 20% | 23% | 17% | 15% | 8% | 7% | 17% | 14% | -12% | 17% |
| Other Income | 21 | 20 | 40 | 42 | 68 | 63 | 30 | 64 | 41 | 63 | 112 | 48 | 83 |
| Interest | 4 | 7 | 8 | 7 | 9 | 9 | 10 | 9 | 8 | 9 | 9 | 12 | 8 |
| Depreciation | 21 | 23 | 25 | 33 | 38 | 38 | 47 | 50 | 48 | 48 | 51 | 55 | 53 |
| Profit before tax | 180 | 168 | 139 | 125 | 172 | 118 | 59 | 46 | 24 | 103 | 119 | -85 | 127 |
| Tax % | 26% | 23% | 25% | 20% | 19% | 18% | 27% | 29% | 3% | 20% | 30% | -13% | 18% |
| Net Profit | 159 | 169 | 105 | 100 | 139 | 96 | 44 | 33 | 23 | 82 | 83 | -74 | 105 |
| EPS in Rs | 8.24 | 8.75 | 5.42 | 5.17 | 7.21 | 4.97 | 2.26 | 1.71 | 1.19 | 4.26 | 4.32 | -3.82 | 5.43 |
Last Updated: August 1, 2025, 8:20 pm
Below is a detailed analysis of the quarterly data for HEG Ltd based on the most recent figures (Jun 2025) and their trends compared to the previous period:
- For Sales, as of Jun 2025, the value is 617.00 Cr.. The value appears strong and on an upward trend. It has increased from 542.00 Cr. (Mar 2025) to 617.00 Cr., marking an increase of 75.00 Cr..
- For Expenses, as of Jun 2025, the value is 512.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 608.00 Cr. (Mar 2025) to 512.00 Cr., marking a decrease of 96.00 Cr..
- For Operating Profit, as of Jun 2025, the value is 105.00 Cr.. The value appears strong and on an upward trend. It has increased from -66.00 Cr. (Mar 2025) to 105.00 Cr., marking an increase of 171.00 Cr..
- For OPM %, as of Jun 2025, the value is 17.00%. The value appears strong and on an upward trend. It has increased from -12.00% (Mar 2025) to 17.00%, marking an increase of 29.00%.
- For Other Income, as of Jun 2025, the value is 83.00 Cr.. The value appears strong and on an upward trend. It has increased from 48.00 Cr. (Mar 2025) to 83.00 Cr., marking an increase of 35.00 Cr..
- For Interest, as of Jun 2025, the value is 8.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 12.00 Cr. (Mar 2025) to 8.00 Cr., marking a decrease of 4.00 Cr..
- For Depreciation, as of Jun 2025, the value is 53.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 55.00 Cr. (Mar 2025) to 53.00 Cr., marking a decrease of 2.00 Cr..
- For Profit before tax, as of Jun 2025, the value is 127.00 Cr.. The value appears strong and on an upward trend. It has increased from -85.00 Cr. (Mar 2025) to 127.00 Cr., marking an increase of 212.00 Cr..
- For Tax %, as of Jun 2025, the value is 18.00%. The value appears to be increasing, which may not be favorable. It has increased from -13.00% (Mar 2025) to 18.00%, marking an increase of 31.00%.
- For Net Profit, as of Jun 2025, the value is 105.00 Cr.. The value appears strong and on an upward trend. It has increased from -74.00 Cr. (Mar 2025) to 105.00 Cr., marking an increase of 179.00 Cr..
- For EPS in Rs, as of Jun 2025, the value is 5.43. The value appears strong and on an upward trend. It has increased from -3.82 (Mar 2025) to 5.43, marking an increase of 9.25.
Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.
Profit & Loss - Annual Report
Last Updated: October 15, 2025, 5:13 am
| Metric | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,440 | 1,228 | 870 | 859 | 2,748 | 6,591 | 2,145 | 1,254 | 2,201 | 2,463 | 2,393 | 2,158 | 2,205 |
| Expenses | 1,193 | 1,046 | 733 | 778 | 1,027 | 1,930 | 2,150 | 1,308 | 1,670 | 1,844 | 2,011 | 1,902 | 2,002 |
| Operating Profit | 247 | 182 | 137 | 81 | 1,721 | 4,662 | -5 | -53 | 530 | 619 | 382 | 255 | 203 |
| OPM % | 17% | 15% | 16% | 9% | 63% | 71% | -0% | -4% | 24% | 25% | 16% | 12% | 9% |
| Other Income | -4 | 15 | 4 | 7 | 12 | 106 | 143 | 114 | 117 | 187 | 223 | 145 | 306 |
| Interest | 72 | 77 | 60 | 55 | 56 | 18 | 37 | 11 | 7 | 26 | 36 | 39 | 39 |
| Depreciation | 73 | 75 | 79 | 74 | 73 | 72 | 72 | 73 | 79 | 102 | 175 | 201 | 206 |
| Profit before tax | 97 | 44 | 1 | -41 | 1,605 | 4,677 | 29 | -23 | 560 | 677 | 395 | 160 | 264 |
| Tax % | 11% | 12% | 886% | 23% | 33% | 35% | -82% | -23% | 23% | 21% | 21% | 28% | |
| Net Profit | 81 | 36 | 4 | -44 | 1,099 | 3,026 | 68 | -18 | 431 | 532 | 312 | 115 | 197 |
| EPS in Rs | 4.04 | 1.82 | 0.22 | -2.21 | 55.02 | 156.80 | 3.50 | -0.93 | 22.33 | 27.59 | 16.15 | 5.96 | 10.19 |
| Dividend Payout % | 30% | 33% | 0% | 0% | 29% | 10% | 143% | -65% | 36% | 31% | 28% | 30% |
YoY Net Profit Growth
| Year | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| YoY Net Profit Growth (%) | -55.56% | -88.89% | -1200.00% | 2597.73% | 175.34% | -97.75% | -126.47% | 2494.44% | 23.43% | -41.35% | -63.14% |
| Change in YoY Net Profit Growth (%) | 0.00% | -33.33% | -1111.11% | 3797.73% | -2422.39% | -273.09% | -28.72% | 2620.92% | -2471.01% | -64.79% | -21.79% |
HEG Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.
Growth
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 0% |
| 3 Years: | -1% |
| TTM: | -4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 92% |
| 3 Years: | -36% |
| TTM: | 1% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 33% |
| 5 Years: | 25% |
| 3 Years: | 27% |
| 1 Year: | 26% |
| Return on Equity | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 7% |
| 3 Years: | 7% |
| Last Year: | 3% |
Last Updated: September 5, 2025, 5:55 am
Balance Sheet
Last Updated: October 10, 2025, 2:09 pm
| Month | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 40 | 40 | 40 | 40 | 40 | 39 | 39 | 39 | 39 | 39 | 39 | 39 |
| Reserves | 960 | 974 | 956 | 913 | 1,868 | 3,755 | 3,473 | 3,456 | 3,875 | 4,242 | 4,387 | 4,415 |
| Borrowings | 1,027 | 917 | 782 | 684 | 297 | 667 | 594 | 298 | 665 | 743 | 623 | 588 |
| Other Liabilities | 478 | 315 | 176 | 216 | 534 | 684 | 332 | 451 | 730 | 668 | 653 | 607 |
| Total Liabilities | 2,506 | 2,246 | 1,953 | 1,853 | 2,739 | 5,144 | 4,438 | 4,244 | 5,308 | 5,692 | 5,701 | 5,648 |
| Fixed Assets | 941 | 907 | 932 | 889 | 833 | 788 | 745 | 694 | 763 | 1,363 | 1,816 | 1,938 |
| CWIP | 119 | 108 | 27 | 1 | 2 | 19 | 101 | 373 | 696 | 472 | 212 | 71 |
| Investments | 174 | 223 | 227 | 231 | 248 | 942 | 1,245 | 1,358 | 1,171 | 859 | 1,200 | 1,400 |
| Other Assets | 1,273 | 1,009 | 767 | 732 | 1,656 | 3,396 | 2,348 | 1,819 | 2,678 | 2,998 | 2,474 | 2,238 |
| Total Assets | 2,506 | 2,246 | 1,953 | 1,853 | 2,739 | 5,144 | 4,438 | 4,244 | 5,308 | 5,692 | 5,701 | 5,648 |
Below is a detailed analysis of the balance sheet data for HEG Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:
- For Equity Capital, as of Mar 2025, the value is 39.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 39.00 Cr..
- For Reserves, as of Mar 2025, the value is 4,415.00 Cr.. The value appears strong and on an upward trend. It has increased from 4,387.00 Cr. (Mar 2024) to 4,415.00 Cr., marking an increase of 28.00 Cr..
- For Borrowings, as of Mar 2025, the value is 588.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 623.00 Cr. (Mar 2024) to 588.00 Cr., marking a decrease of 35.00 Cr..
- For Other Liabilities, as of Mar 2025, the value is 607.00 Cr.. The value appears to be improving (decreasing). It has decreased from 653.00 Cr. (Mar 2024) to 607.00 Cr., marking a decrease of 46.00 Cr..
- For Total Liabilities, as of Mar 2025, the value is 5,648.00 Cr.. The value appears to be improving (decreasing). It has decreased from 5,701.00 Cr. (Mar 2024) to 5,648.00 Cr., marking a decrease of 53.00 Cr..
- For Fixed Assets, as of Mar 2025, the value is 1,938.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,816.00 Cr. (Mar 2024) to 1,938.00 Cr., marking an increase of 122.00 Cr..
- For CWIP, as of Mar 2025, the value is 71.00 Cr.. The value appears to be declining and may need further review. It has decreased from 212.00 Cr. (Mar 2024) to 71.00 Cr., marking a decrease of 141.00 Cr..
- For Investments, as of Mar 2025, the value is 1,400.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,200.00 Cr. (Mar 2024) to 1,400.00 Cr., marking an increase of 200.00 Cr..
- For Other Assets, as of Mar 2025, the value is 2,238.00 Cr.. The value appears to be declining and may need further review. It has decreased from 2,474.00 Cr. (Mar 2024) to 2,238.00 Cr., marking a decrease of 236.00 Cr..
- For Total Assets, as of Mar 2025, the value is 5,648.00 Cr.. The value appears to be declining and may need further review. It has decreased from 5,701.00 Cr. (Mar 2024) to 5,648.00 Cr., marking a decrease of 53.00 Cr..
Notably, the Reserves (4,415.00 Cr.) exceed the Borrowings (588.00 Cr.), indicating a solid financial buffer.
Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.
Cash Flow - No data available for this post.
Free Cash Flow
| Month | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Free Cash Flow | 246.00 | -735.00 | -645.00 | -603.00 | -296.00 | -663.00 | -599.00 | -351.00 | -135.00 | -124.00 | -241.00 | -333.00 |
Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)
Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.
Financial Efficiency Indicators
| Month | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 133 | 121 | 134 | 153 | 129 | 66 | 68 | 84 | 98 | 72 | 78 | 75 |
| Inventory Days | 256 | 238 | 342 | 216 | 391 | 428 | 226 | 262 | 431 | 574 | 379 | 507 |
| Days Payable | 119 | 76 | 48 | 73 | 188 | 124 | 30 | 116 | 197 | 164 | 135 | 161 |
| Cash Conversion Cycle | 270 | 282 | 428 | 297 | 332 | 370 | 264 | 230 | 331 | 483 | 321 | 421 |
| Working Capital Days | -17 | 13 | -7 | -3 | 120 | 86 | 134 | 93 | 75 | 107 | 111 | 141 |
| ROCE % | 9% | 6% | 3% | 1% | 86% | 139% | -0% | -2% | 14% | 15% | 9% | 4% |
Mutual Fund Holdings
| Fund Name | No of Shares | AUM (%) | Amount Invested (Cr) | Previous Number of Shares | Previous Date | Percentage Change |
|---|---|---|---|---|---|---|
| Quant Small Cap Fund | 1,076,103 | 1.57 | 176.32 | 1,076,103 | 2025-04-22 17:25:33 | 0% |
| Quant Flexi Cap Fund | 230,000 | 1.53 | 37.69 | 230,000 | 2025-04-22 17:25:33 | 0% |
| Bank of India Tax Advantage Fund | 78,000 | 1.34 | 12.78 | 78,000 | 2025-04-22 17:25:33 | 0% |
| Bank of India Tax Advantage Fund - Eco Plan | 78,000 | 1.34 | 12.78 | 78,000 | 2025-04-22 17:25:33 | 0% |
| Bank of India Mid & Small Cap Equity & Debt Fund | 38,000 | 1.12 | 6.23 | 38,000 | 2025-04-22 17:25:33 | 0% |
| Bank of India Flexi Cap Fund | 23,500 | 0.78 | 3.85 | 23,500 | 2025-04-22 17:25:33 | 0% |
| Bank of India Multi Cap Fund | 18,439 | 0.88 | 3.02 | 18,439 | 2025-04-22 17:25:33 | 0% |
| JM Flexicap Fund | 12,498 | 0.24 | 2.05 | 12,498 | 2025-04-22 17:25:33 | 0% |
| Nippon India Nifty Smallcap 250 Index Fund | 10,794 | 0.21 | 1.77 | 10,794 | 2025-04-22 17:25:33 | 0% |
| Bank of India Manufacturing & Infrastructure Fund | 8,403 | 0.84 | 1.38 | 8,403 | 2025-04-22 17:25:33 | 0% |
Key Financial Ratios
| Month | Mar 25 | Mar 24 | Mar 23 | Mar 22 | Mar 21 |
|---|---|---|---|---|---|
| FaceValue | 2.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Basic EPS (Rs.) | 5.96 | 80.75 | 137.95 | 111.68 | -4.65 |
| Diluted EPS (Rs.) | 5.96 | 80.75 | 137.95 | 111.68 | -4.65 |
| Cash EPS (Rs.) | 15.45 | 104.85 | 144.20 | 121.74 | 12.39 |
| Book Value[Excl.RevalReserv]/Share (Rs.) | 230.79 | 1146.74 | 1109.17 | 1014.00 | 905.55 |
| Book Value[Incl.RevalReserv]/Share (Rs.) | 230.79 | 1146.74 | 1109.17 | 1014.00 | 905.55 |
| Revenue From Operations / Share (Rs.) | 111.91 | 620.51 | 639.25 | 570.43 | 325.48 |
| PBDIT / Share (Rs.) | 19.83 | 135.79 | 188.50 | 157.21 | 13.92 |
| PBIT / Share (Rs.) | 9.44 | 90.54 | 161.99 | 136.67 | -5.02 |
| PBT / Share (Rs.) | 7.40 | 81.28 | 155.26 | 134.73 | -7.97 |
| Net Profit / Share (Rs.) | 5.06 | 59.60 | 117.69 | 101.20 | -6.55 |
| NP After MI And SOA / Share (Rs.) | 5.96 | 80.75 | 137.94 | 111.68 | -4.65 |
| PBDIT Margin (%) | 17.71 | 21.88 | 29.48 | 27.56 | 4.27 |
| PBIT Margin (%) | 8.43 | 14.59 | 25.34 | 23.95 | -1.54 |
| PBT Margin (%) | 6.61 | 13.09 | 24.28 | 23.61 | -2.44 |
| Net Profit Margin (%) | 4.51 | 9.60 | 18.41 | 17.74 | -2.01 |
| NP After MI And SOA Margin (%) | 5.32 | 13.01 | 21.57 | 19.57 | -1.42 |
| Return on Networth / Equity (%) | 2.58 | 7.04 | 12.43 | 11.01 | -0.51 |
| Return on Capital Employeed (%) | 3.99 | 7.70 | 14.28 | 13.11 | -0.53 |
| Return On Assets (%) | 2.03 | 5.46 | 9.35 | 8.12 | -0.42 |
| Total Debt / Equity (X) | 0.13 | 0.13 | 0.17 | 0.16 | 0.08 |
| Asset Turnover Ratio (%) | 0.38 | 0.42 | 0.44 | 0.46 | 0.29 |
| Current Ratio (X) | 2.26 | 2.25 | 2.17 | 2.34 | 3.22 |
| Quick Ratio (X) | 1.11 | 1.23 | 1.07 | 1.58 | 2.32 |
| Inventory Turnover Ratio (X) | 1.76 | 0.82 | 1.09 | 1.21 | 0.63 |
| Dividend Payout Ratio (NP) (%) | 75.47 | 52.62 | 28.99 | 2.68 | 0.00 |
| Dividend Payout Ratio (CP) (%) | 27.51 | 33.72 | 24.32 | 2.26 | 0.00 |
| Earning Retention Ratio (%) | 24.53 | 47.38 | 71.01 | 97.32 | 0.00 |
| Cash Earning Retention Ratio (%) | 72.49 | 66.28 | 75.68 | 97.74 | 0.00 |
| Interest Coverage Ratio (X) | 9.76 | 14.66 | 27.97 | 81.04 | 4.73 |
| Interest Coverage Ratio (Post Tax) (X) | 3.49 | 7.44 | 18.47 | 53.16 | -1.23 |
| Enterprise Value (Cr.) | 9772.24 | 7325.45 | 3604.09 | 5365.01 | 5396.96 |
| EV / Net Operating Revenue (X) | 4.52 | 3.06 | 1.46 | 2.44 | 4.30 |
| EV / EBITDA (X) | 25.54 | 13.98 | 4.95 | 8.84 | 100.45 |
| MarketCap / Net Operating Revenue (X) | 4.32 | 2.97 | 1.44 | 2.41 | 4.50 |
| Retention Ratios (%) | 24.52 | 47.37 | 71.00 | 97.31 | 0.00 |
| Price / BV (X) | 2.10 | 1.61 | 0.83 | 1.36 | 1.62 |
| Price / Net Operating Revenue (X) | 4.32 | 2.97 | 1.44 | 2.41 | 4.50 |
| EarningsYield | 0.01 | 0.04 | 0.14 | 0.08 | 0.00 |
After reviewing the key financial ratios for HEG Ltd, here is a detailed analysis based on the latest available data and recent trends:
- For FaceValue, as of Mar 25, the value is 2.00. This value is within the healthy range. It has decreased from 10.00 (Mar 24) to 2.00, marking a decrease of 8.00.
- For Basic EPS (Rs.), as of Mar 25, the value is 5.96. This value is within the healthy range. It has decreased from 80.75 (Mar 24) to 5.96, marking a decrease of 74.79.
- For Diluted EPS (Rs.), as of Mar 25, the value is 5.96. This value is within the healthy range. It has decreased from 80.75 (Mar 24) to 5.96, marking a decrease of 74.79.
- For Cash EPS (Rs.), as of Mar 25, the value is 15.45. This value is within the healthy range. It has decreased from 104.85 (Mar 24) to 15.45, marking a decrease of 89.40.
- For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 230.79. It has decreased from 1,146.74 (Mar 24) to 230.79, marking a decrease of 915.95.
- For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 230.79. It has decreased from 1,146.74 (Mar 24) to 230.79, marking a decrease of 915.95.
- For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 111.91. It has decreased from 620.51 (Mar 24) to 111.91, marking a decrease of 508.60.
- For PBDIT / Share (Rs.), as of Mar 25, the value is 19.83. This value is within the healthy range. It has decreased from 135.79 (Mar 24) to 19.83, marking a decrease of 115.96.
- For PBIT / Share (Rs.), as of Mar 25, the value is 9.44. This value is within the healthy range. It has decreased from 90.54 (Mar 24) to 9.44, marking a decrease of 81.10.
- For PBT / Share (Rs.), as of Mar 25, the value is 7.40. This value is within the healthy range. It has decreased from 81.28 (Mar 24) to 7.40, marking a decrease of 73.88.
- For Net Profit / Share (Rs.), as of Mar 25, the value is 5.06. This value is within the healthy range. It has decreased from 59.60 (Mar 24) to 5.06, marking a decrease of 54.54.
- For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 5.96. This value is within the healthy range. It has decreased from 80.75 (Mar 24) to 5.96, marking a decrease of 74.79.
- For PBDIT Margin (%), as of Mar 25, the value is 17.71. This value is within the healthy range. It has decreased from 21.88 (Mar 24) to 17.71, marking a decrease of 4.17.
- For PBIT Margin (%), as of Mar 25, the value is 8.43. This value is below the healthy minimum of 10. It has decreased from 14.59 (Mar 24) to 8.43, marking a decrease of 6.16.
- For PBT Margin (%), as of Mar 25, the value is 6.61. This value is below the healthy minimum of 10. It has decreased from 13.09 (Mar 24) to 6.61, marking a decrease of 6.48.
- For Net Profit Margin (%), as of Mar 25, the value is 4.51. This value is below the healthy minimum of 5. It has decreased from 9.60 (Mar 24) to 4.51, marking a decrease of 5.09.
- For NP After MI And SOA Margin (%), as of Mar 25, the value is 5.32. This value is below the healthy minimum of 8. It has decreased from 13.01 (Mar 24) to 5.32, marking a decrease of 7.69.
- For Return on Networth / Equity (%), as of Mar 25, the value is 2.58. This value is below the healthy minimum of 15. It has decreased from 7.04 (Mar 24) to 2.58, marking a decrease of 4.46.
- For Return on Capital Employeed (%), as of Mar 25, the value is 3.99. This value is below the healthy minimum of 10. It has decreased from 7.70 (Mar 24) to 3.99, marking a decrease of 3.71.
- For Return On Assets (%), as of Mar 25, the value is 2.03. This value is below the healthy minimum of 5. It has decreased from 5.46 (Mar 24) to 2.03, marking a decrease of 3.43.
- For Total Debt / Equity (X), as of Mar 25, the value is 0.13. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 0.13.
- For Asset Turnover Ratio (%), as of Mar 25, the value is 0.38. It has decreased from 0.42 (Mar 24) to 0.38, marking a decrease of 0.04.
- For Current Ratio (X), as of Mar 25, the value is 2.26. This value is within the healthy range. It has increased from 2.25 (Mar 24) to 2.26, marking an increase of 0.01.
- For Quick Ratio (X), as of Mar 25, the value is 1.11. This value is within the healthy range. It has decreased from 1.23 (Mar 24) to 1.11, marking a decrease of 0.12.
- For Inventory Turnover Ratio (X), as of Mar 25, the value is 1.76. This value is below the healthy minimum of 4. It has increased from 0.82 (Mar 24) to 1.76, marking an increase of 0.94.
- For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 75.47. This value exceeds the healthy maximum of 50. It has increased from 52.62 (Mar 24) to 75.47, marking an increase of 22.85.
- For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 27.51. This value is within the healthy range. It has decreased from 33.72 (Mar 24) to 27.51, marking a decrease of 6.21.
- For Earning Retention Ratio (%), as of Mar 25, the value is 24.53. This value is below the healthy minimum of 40. It has decreased from 47.38 (Mar 24) to 24.53, marking a decrease of 22.85.
- For Cash Earning Retention Ratio (%), as of Mar 25, the value is 72.49. This value exceeds the healthy maximum of 70. It has increased from 66.28 (Mar 24) to 72.49, marking an increase of 6.21.
- For Interest Coverage Ratio (X), as of Mar 25, the value is 9.76. This value is within the healthy range. It has decreased from 14.66 (Mar 24) to 9.76, marking a decrease of 4.90.
- For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 3.49. This value is within the healthy range. It has decreased from 7.44 (Mar 24) to 3.49, marking a decrease of 3.95.
- For Enterprise Value (Cr.), as of Mar 25, the value is 9,772.24. It has increased from 7,325.45 (Mar 24) to 9,772.24, marking an increase of 2,446.79.
- For EV / Net Operating Revenue (X), as of Mar 25, the value is 4.52. This value exceeds the healthy maximum of 3. It has increased from 3.06 (Mar 24) to 4.52, marking an increase of 1.46.
- For EV / EBITDA (X), as of Mar 25, the value is 25.54. This value exceeds the healthy maximum of 15. It has increased from 13.98 (Mar 24) to 25.54, marking an increase of 11.56.
- For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 4.32. This value exceeds the healthy maximum of 3. It has increased from 2.97 (Mar 24) to 4.32, marking an increase of 1.35.
- For Retention Ratios (%), as of Mar 25, the value is 24.52. This value is below the healthy minimum of 30. It has decreased from 47.37 (Mar 24) to 24.52, marking a decrease of 22.85.
- For Price / BV (X), as of Mar 25, the value is 2.10. This value is within the healthy range. It has increased from 1.61 (Mar 24) to 2.10, marking an increase of 0.49.
- For Price / Net Operating Revenue (X), as of Mar 25, the value is 4.32. This value exceeds the healthy maximum of 3. It has increased from 2.97 (Mar 24) to 4.32, marking an increase of 1.35.
- For EarningsYield, as of Mar 25, the value is 0.01. This value is below the healthy minimum of 5. It has decreased from 0.04 (Mar 24) to 0.01, marking a decrease of 0.03.
Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.
Strength and Weakness
| Strength | Weakness |
|---|---|
|
|
Stock Analysis
- Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in HEG Ltd:
- Net Profit Margin: 4.51%
- Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
- ROCE: 3.99% (Industry Average ROCE: 4.98%)
- ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
- ROE%: 2.58% (Industry Average ROE: 4.14%)
- ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
- Interest Coverage Ratio (Post Tax): 3.49
- Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
- Quick Ratio: 1.11
- Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
- Stock P/E: 38.5 (Industry average Stock P/E: 78.6)
- Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
- Total Debt / Equity: 0.13
- Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
Stock Rating: - Net Profit Margin: 4.51%
About the Company - Qualitative Analysis
| INDUSTRY | ADDRESS | CONTACT |
|---|---|---|
| Electrodes - Graphite | Mandideep (Near Bhopal), Raisen District Madhya Pradesh 462046 | heg.investor@lnjbhilwara.com http://www.hegltd.com |
| Management | |
|---|---|
| Name | Position Held |
| Mr. L N Jhunjhunwala | Chairman Emeritus |
| Mr. Ravi Jhunjhunwala | Chairman & M.D & CEO |
| Mr. Riju Jhunjhunwala | Vice Chairman |
| Mr. Manish Gulati | Executive Director |
| Mrs. Vinita Singhania | Non Executive Director |
| Mr. Shekhar Agarwal | Non Executive Director |
| Dr. Kamal Gupta | Non Executive Director |
| Mr. Jayant Davar | Independent Director |
| Mrs. Ramni Nirula | Independent Director |
| Mr. Satish Chand Mehta | Independent Director |
| Mr. Sandip Somany | Independent Director |
| Dr. Nand Gopal Khaitan | Independent Director |
| Mr. P S Dasgupta | Independent Director |
FAQ
What is the intrinsic value of HEG Ltd?
HEG Ltd's intrinsic value (as of 13 November 2025) is 193.72 which is 62.38% lower the current market price of 515.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 9,936 Cr. market cap, FY2025-2026 high/low of 622/331, reserves of ₹4,415 Cr, and liabilities of 5,648 Cr.
What is the Market Cap of HEG Ltd?
The Market Cap of HEG Ltd is 9,936 Cr..
What is the current Stock Price of HEG Ltd as on 13 November 2025?
The current stock price of HEG Ltd as on 13 November 2025 is 515.
What is the High / Low of HEG Ltd stocks in FY 2025-2026?
In FY 2025-2026, the High / Low of HEG Ltd stocks is 622/331.
What is the Stock P/E of HEG Ltd?
The Stock P/E of HEG Ltd is 38.5.
What is the Book Value of HEG Ltd?
The Book Value of HEG Ltd is 242.
What is the Dividend Yield of HEG Ltd?
The Dividend Yield of HEG Ltd is 0.35 %.
What is the ROCE of HEG Ltd?
The ROCE of HEG Ltd is 3.96 %.
What is the ROE of HEG Ltd?
The ROE of HEG Ltd is 2.59 %.
What is the Face Value of HEG Ltd?
The Face Value of HEG Ltd is 2.00.