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Last Updated on: 21 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Fundamental Analysis of HEG Ltd

About the Company - HEG Ltd

HEG Ltd. is a Public Limited Listed company incorporated on 27/10/1972 and has its registered office in the State of Madhya Pradesh, India. Company’s Corporate Identification Number(CIN) is L23109MP1972PLC008290 and registration number is 008290. Currently Company is involved in the business activities of Other manufacturing. Company’s Total Operating Revenue is Rs. 2201.61 Cr. and Equity Capital is Rs. 38.60 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Electrodes - GraphiteMandideep (Near Bhopal), Raisen District Madhya Pradesh 462046heg.investor@lnjbhilwara.com
http://www.hegltd.com
Management
NamePosition Held
Mr. L N JhunjhunwalaChairman Emeritus
Mr. Ravi JhunjhunwalaChairman & M.D & CEO
Mr. Riju JhunjhunwalaVice Chairman
Mr. Manish GulatiExecutive Director
Mrs. Vinita SinghaniaNon Executive Director
Mr. Shekhar AgarwalNon Executive Director
Mr. Jayant DavarIndependent Director
Dr. Kamal GuptaIndependent Director
Mrs. Ramni NirulaIndependent Director
Mr. Satish Chand MehtaIndependent Director

Basic Stock Data of HEG Ltd

Last Updated: July 20, 2024, 11:04 pm

Market Cap 7,894 Cr.
Current Price 2,045
High / Low2,745/1,462
Stock P/E25.4
Book Value 1,147
Dividend Yield1.10 %
ROCE8.54 %
ROE7.14 %
Face Value 10.0
PEG Ratio0.56

Data Source: screener.in

Competitors of HEG Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Industry Average0 Cr0000%0%0%0

HEG Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales323320380414518597673722598530617671614
Expenses365321385341376441516538419398493520512
Operating Profit-42-1-572142156157184179132123151102
OPM %-13%-0%-1%18%27%26%23%25%30%25%20%23%17%
Other Income16252522251517212037312628
Interest3111141478799
Depreciation18191819182121212325333838
Profit before tax-47417514814615218016813611413083
Tax %28%-9%900%25%24%25%25%26%23%25%22%25%26%
Net Profit-15-1-165713211312915916910510013996
EPS in Rs-3.98-0.21-4.1714.7134.0829.4033.4941.2043.7727.1225.8436.0524.87

Last Updated: July 10, 2024, 5:47 pm

HEG Ltd Quarterly Chart

HEG Ltd Profit & Loss

Last Updated: July 10, 2024, 5:47 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,4171,6191,4401,2288708592,7486,5912,1451,2542,2012,4632,433
Expenses1,1751,3261,1931,0467337781,0271,9302,1501,3081,6701,8441,924
Operating Profit242293247182137811,7214,662-5-53530619509
OPM %17%18%17%15%16%9%63%71%-0%-4%24%25%21%
Other Income-77-42-4154712106143114117187122
Interest4164727760555618371172632
Depreciation5863737579747372727379102135
Profit before tax6712597441-411,6054,67729-23560677464
Tax %7%16%11%12%886%-23%33%35%-82%23%23%21%
Net Profit5710081364-441,0993,02668-18431532440
EPS in Rs14.3225.1320.209.121.10-11.03275.12784.0717.52-4.65111.68137.95113.88
Dividend Payout %35%32%30%33%0%0%29%10%143%-65%36%31%

HEG Ltd Profit & Loss Yearly Chart

HEG Ltd Growth

Compounded Sales Growth
10 Years:5%
5 Years:-18%
3 Years:24%
TTM:-3%
Compounded Profit Growth
10 Years:12%
5 Years:-36%
3 Years:84%
TTM:-42%
Stock Price CAGR
10 Years:23%
5 Years:16%
3 Years:-2%
1 Year:28%
Return on Equity
10 Years:20%
5 Years:6%
3 Years:11%
Last Year:7%

Last Updated: July 17, 2024, 5:38 pm

HEG Ltd Balance Sheet

Last Updated: July 10, 2024, 5:47 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital40404040404040393939393939
Reserves8099059609749569131,8683,7553,4733,4563,8754,2424,310
Borrowings1,2691,3961,027917782684297667594298665743686
Other Liabilities327358478315176216534684332451730668643
Total Liabilities2,4462,7002,5062,2461,9531,8532,7395,1444,4384,2445,3085,6925,678
Fixed Assets7457189419079328898337887456947631,3631,773
CWIP128215119108271219101373696472188
Investments1561521742232272312489421,2451,3581,1718591,111
Other Assets1,4161,6151,2731,0097677321,6563,3962,3481,8192,6782,9982,605
Total Assets2,4462,7002,5062,2461,9531,8532,7395,1444,4384,2445,3085,6925,678

HEG Ltd Reserves and Borrowings Chart

HEG Ltd Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 1157732762491575941,488739716-141113612
Cash from Investing Activity -145-294-83-29-1-9-676-275-417-183-21-184
Cash from Financing Activity 26-482-202-219-153-588-788-460-310344-100-324
Net Cash Flow-3-3-813-3244-1120-8104

HEG Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days1261351331211341531296668849872
Inventory Days323282256238342216391428226262431574
Days Payable546211976487318812430116197164
Cash Conversion Cycle396355270282428297332370264230331483
Working Capital Days240227151184212172159123235180185217
ROCE %10%11%9%6%3%1%86%139%-0%-2%14%15%

HEG Ltd Financial Efficiency Indicators Chart

HEG Ltd Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters59.62%55.13%55.13%55.13%55.13%55.12%55.12%55.77%55.77%55.77%55.77%55.77%
FIIs11.27%14.29%13.38%8.90%6.81%5.68%4.98%6.25%6.73%6.81%6.85%6.86%
DIIs7.48%7.50%7.49%8.19%8.44%8.51%6.67%6.26%7.42%7.21%8.85%10.38%
Public21.62%23.08%23.99%27.77%29.61%30.67%33.22%31.71%30.07%30.21%28.51%26.98%
No. of Shareholders1,42,6071,26,0091,27,0591,43,5781,45,4881,47,2461,52,1181,48,2691,35,5191,37,3421,32,6621,29,905

HEG Ltd Shareholding Pattern Chart

No. of HEG Ltd Shareholders

HEG Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Quant Small Cap Fund1,076,1031.57176.321,076,1032024-07-200%
Quant Flexi Cap Fund230,0001.5337.691,076,1032024-07-20-78.63%
Bank of India Tax Advantage Fund78,0001.3412.781,076,1032024-07-20-92.75%
Bank of India Tax Advantage Fund - Eco Plan78,0001.3412.781,076,1032024-07-20-92.75%
Bank of India Mid & Small Cap Equity & Debt Fund38,0001.126.231,076,1032024-07-20-96.47%
Bank of India Flexi Cap Fund23,5000.783.851,076,1032024-07-20-97.82%
Bank of India Multi Cap Fund18,4390.883.021,076,1032024-07-20-98.29%
JM Flexicap Fund12,4980.242.051,076,1032024-07-20-98.84%
Nippon India Nifty Smallcap 250 Index Fund10,7940.211.771,076,1032024-07-20-99%
Bank of India Manufacturing & Infrastructure Fund8,4030.841.381,076,1032024-07-20-99.22%

HEG Ltd ROCE Trend

HEG Ltd EPS Trend

HEG Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)80.75137.95111.68-4.6517.52
Diluted EPS (Rs.)80.75137.95111.68-4.6517.52
Cash EPS (Rs.)104.85144.20121.7412.3932.52
Book Value[Excl.RevalReserv]/Share (Rs.)1146.731109.171014.00905.55909.87
Book Value[Incl.RevalReserv]/Share (Rs.)1146.731109.171014.00905.55909.87
Revenue From Operations / Share (Rs.)620.50639.25570.43325.48556.80
PBDIT / Share (Rs.)135.79188.50157.2113.9235.74
PBIT / Share (Rs.)90.54161.99136.67-5.0217.05
PBT / Share (Rs.)81.28155.26134.73-7.977.59
Net Profit / Share (Rs.)59.59117.69101.20-6.5513.83
NP After MI And SOA / Share (Rs.)80.75137.94111.68-4.6517.52
PBDIT Margin (%)21.8829.4827.564.276.41
PBIT Margin (%)14.5925.3423.95-1.543.06
PBT Margin (%)13.0924.2823.61-2.441.36
Net Profit Margin (%)9.6018.4117.74-2.012.48
NP After MI And SOA Margin (%)13.0121.5719.57-1.423.14
Return on Networth / Equity (%)7.0412.4311.01-0.511.92
Return on Capital Employeed (%)7.7014.2813.11-0.531.81
Return On Assets (%)5.469.358.12-0.421.52
Total Debt / Equity (X)0.130.170.160.080.16
Asset Turnover Ratio (%)0.420.450.460.290.45
Current Ratio (X)2.252.172.343.222.52
Quick Ratio (X)1.231.071.582.321.29
Inventory Turnover Ratio (X)0.821.091.210.631.35
Dividend Payout Ratio (NP) (%)0.0028.992.680.00428.01
Dividend Payout Ratio (CP) (%)0.0024.322.260.00207.11
Earning Retention Ratio (%)0.0071.0197.320.00-328.01
Cash Earning Retention Ratio (%)0.0075.6897.740.00-107.11
Interest Coverage Ratio (X)14.6627.9781.044.733.78
Interest Coverage Ratio (Post Tax) (X)7.4418.4753.16-1.232.46
Enterprise Value (Cr.)7325.473604.095365.015396.962026.46
EV / Net Operating Revenue (X)3.061.462.444.300.94
EV / EBITDA (X)13.984.958.84100.4514.69
MarketCap / Net Operating Revenue (X)2.971.442.414.500.87
Retention Ratios (%)0.0071.0097.310.00-328.01
Price / BV (X)1.610.831.361.620.53
Price / Net Operating Revenue (X)2.971.442.414.500.87
EarningsYield0.040.140.080.000.03

HEG Ltd Profitability Ratios (%)

HEG Ltd Liquidity Ratios

HEG Ltd Liquidity Ratios (%)

HEG Ltd Interest Coverage Ratios (%)

HEG Ltd Valuation Ratios

Fair Value

Fair Value: 2,103.04

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 2.84% compared to the current price 2045

Intrinsic Value: 3,057.94

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 49.53% compared to the current price 2045

Last 5 Year EPS CAGR: 45.41%

*Investments are subject to market risks

Strength and Weakness of HEG Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 24.33%, which is a positive sign.
  2. The company has higher reserves (2,480.33 cr) compared to borrowings (724.42 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (134.62 cr) and profit (154.23 cr) over the years.
  1. The stock has a high average Working Capital Days of 190.42, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 336.50, which may not be favorable.

FAQ

What is the latest fair value of HEG Ltd?

The latest fair value of HEG Ltd is ₹2103.04.

What is the Market Cap of HEG Ltd?

The Market Cap of HEG Ltd is 7,894 Cr..

What is the current Stock Price of HEG Ltd as on 21 July 2024?

The current stock price of HEG Ltd as on 21 July 2024 is 2,045.

What is the High / Low of HEG Ltd stocks in FY 2024?

In FY 2024, the High / Low of HEG Ltd stocks is 2,745/1,462.

What is the Stock P/E of HEG Ltd?

The Stock P/E of HEG Ltd is 25.4.

What is the Book Value of HEG Ltd?

The Book Value of HEG Ltd is 1,147.

What is the Dividend Yield of HEG Ltd?

The Dividend Yield of HEG Ltd is 1.10 %.

What is the ROCE of HEG Ltd?

The ROCE of HEG Ltd is 8.54 %.

What is the ROE of HEG Ltd?

The ROE of HEG Ltd is 7.14 %.

What is the Face Value of HEG Ltd?

The Face Value of HEG Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in HEG Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE