HEG LTD·ELECTRODES AND WELDING EQUIPMENT 63.80·Industrial Products Companies

Price

514.25

-2.36%
O:527.95
H:529.95
L:509.1
C:514.25

52W Range

459.8690
+12%/-25%

Market Cap

₹9,923.87 Cr

Traded: ₹57.32 Cr (0.58%) 0.0x

Free Float: ₹2,223.94 Cr (2.58% of FF traded)

Volume · 60D trend

11.03 L 0.0x

Delivery: % 0.0x

View Delivery Data

Returns

1W:+0% 1M:-5% 3M:-13% 6M:-5% 12M:-13%

Valuation

P/E29.1
P/B2.1
P/S3.9
EV/EBIT25.9

Business Strength

ROE2.6%
ROCE4.0%
OPM15.5%
NPM13.3%

Growth (3Y CAGR)

EPS+196.8%
Sales+1.0%
Profit-14.0%
3Y Return+39.0%

Balance Sheet

Debt/Equity0.2
Debt793 Cr
Pledge0.0%
CWIP/Fixed Asset12.5%

Cash Position

CFO/NP62.5%
FCF-35.8 Cr
FCF 3Y Avg311 Cr
Cash/MCap2.0%

Others

Div Yield0.9%
Div Payout19.0%
Cash Conv. Cycle323 days
Tradeable Free Float22.4%

MTF Exposure Trend

60 sessions · funded amount, % of FF, daily delta

Current
₹ 172.25 Cr
7.75% FF
60d high
₹ 172.25 Cr
60d low
₹ 93.14 Cr
60d mean
₹ 140.39 Cr
vs mean
▲ 22.69%

Growth Trends

Metric10Y5Y3Y1YTTMTrend
ROE
+17.0%
+8.0%
+6.0%
--
--
Decelerating
Return
+34.0%
+5.0%
+39.0%
+28.0%
--
Stable
Sales
+11.0%
+15.0%
+1.0%
--
+19.0%
Stable
Profit
+63.0%
+46.0%
-14.0%
--
+194.0%
Stable

Quarterly Results

Mar 2026

29 Apr
Rev
603 Cr
+12% YoY-8% QoQ
OPM-25.0%
NPM-18.9%
PAT
-73% YoY-114 Cr
EPS
-54% YoY-5.9

Dec 2025

10 Feb
Rev
656 Cr
+37% YoY-6% QoQ
OPM22.0%
NPM31.6%
PAT
+148% YoY207 Cr
EPS
+148% YoY10.7

Sep 2025

Rev
699 Cr
+23% YoY+13% QoQ
OPM17.0%
NPM20.5%
PAT
+74% YoY143 Cr
EPS
+74% YoY7.4

Jun 2025

Rev
617 Cr
+8% YoY+15% QoQ
OPM17.0%
NPM17.0%
PAT
+355% YoY105 Cr
EPS
+356% YoY5.4

Mar 2025

Rev
537 Cr
-2% YoY+12% QoQ
OPM-11.0%
NPM-13.8%
PAT
-309% YoY-74 Cr
EPS
-323% YoY-3.8

Dec 2024

Rev
478 Cr
-15% YoY-16% QoQ
OPM14.0%
NPM17.4%
PAT
+91% YoY83 Cr
EPS
+91% YoY4.3

Sep 2024

Rev
568 Cr
-7% YoY-1% QoQ
OPM17.0%
NPM14.4%
PAT
-14% YoY82 Cr
EPS
-14% YoY4.3

Jun 2024

Rev
571 Cr
-15% YoY+4% QoQ
OPM7.0%
NPM4.0%
PAT
-83% YoY23 Cr
EPS
-84% YoY1.2

Mar 2024

Rev
547 Cr
-11% YoY-3% QoQ
OPM8.0%
NPM6.0%
PAT
-67% YoY33 Cr
EPS
-67% YoY1.7

Dec 2023

Rev
562 Cr
+6% YoY-8% QoQ
OPM15.0%
NPM7.8%
PAT
-58% YoY44 Cr
EPS
-58% YoY2.3

Sep 2023

Rev
614 Cr
+3% YoY-8% QoQ
OPM17.0%
NPM15.6%
PAT
-43% YoY96 Cr
EPS
-43% YoY5.0

Jun 2023

Rev
671 Cr
--+9% QoQ
OPM23.0%
NPM20.7%
PAT
-12% YoY139 Cr
EPS
--7.2

Mar 2023

Rev
617 Cr
--+16% QoQ
OPM20.0%
NPM16.2%
PAT
-23% YoY100 Cr
EPS
--5.2

Dec 2022

Rev
530 Cr
---11% QoQ
OPM25.0%
NPM19.8%
PAT
-8% YoY105 Cr
EPS
--5.4

Sep 2022

Rev
598 Cr
----
OPM30.0%
NPM28.3%
PAT
+28% YoY169 Cr
EPS
--8.8

Revenue & Margin Trends

Annual

Quarterly

Balance Sheet Health

Leverage

Debt / Equity0.17
Interest Coverage6.6x
Promoter Pledge0.0%
Borrowings796 Cr

Efficiency

Receivable Days71 days
Inventory Days389 days
Payable Days138 days
Cash Conversion cycle323 days

Cash Position

Operating Cash Flow213 Cr
Investing Cash Flow-320 Cr
Financing Cash Flow97 Cr
Free Cash Flow-36 Cr

Detailed Financials

Mar 2026
Dec 2025
Sep 2025
Jun 2025
Mar 2025
Dec 2024
Sep 2024
Jun 2024
Mar 2024
Dec 2023
Sep 2023
Jun 2023
Mar 2023
Dec 2022
Sep 2022
Sales603656699617537478568571547562614671617530598
Expenses752513581512598411471533506476512520493398419
Operating Profit-148143118105-616797394187102151123132179
OPM %-25.0%22.0%17.0%17.0%-11.0%14.0%17.0%7.0%8.0%15.0%17.0%23.0%20.0%25.0%30.0%
Other Income721671208343112634164306368424020
Interest119981299891099787
Depreciation535454535551484850473838332523
Profit Before Tax-140246175127-85119103244659118172125139168
Tax %-19.0%16.0%18.0%18.0%-13.0%30.0%20.0%3.0%29.0%27.0%18.0%19.0%20.0%25.0%23.0%
Net Profit-114207143105-74838223334496139100105169
Exceptional Items5000-500000000----
EPS (Rs)-5.910.77.45.4-3.84.34.31.21.72.35.07.25.25.48.8
Sales Growth (YoY)12.3%37.2%23.1%8.1%-1.8%-14.9%-7.5%-14.9%-11.3%6.0%2.7%--------
Sales Growth (QoQ)-8.1%-6.2%13.3%14.9%12.3%-15.8%-0.5%4.4%-2.7%-8.5%-8.5%8.8%16.4%-11.4%--
OP Growth (YoY)-142.6%113.4%21.6%169.2%-248.8%-23.0%-4.9%-74.2%-66.7%-34.1%-43.0%--------
OP Growth (QoQ)-203.5%21.2%12.4%272.1%-191.0%-30.9%148.7%-4.9%-52.9%-14.7%-32.5%22.8%-6.8%-26.3%--
Profit Growth (YoY)-73.0%148.0%74.0%355.0%-309.0%91.0%-14.0%-83.0%-67.0%-58.0%-43.0%-12.0%-23.0%-8.0%28.0%
EPS Growth (YoY)-54.5%148.4%74.4%356.3%-323.4%91.2%-14.3%-83.5%-66.9%-58.3%-43.2%--------
EPS Growth (QoQ)-155.0%44.4%36.8%242.2%-188.4%1.4%258.0%-30.4%-24.3%-54.5%-31.1%39.5%-4.6%-38.1%--
OP Margin-24.5%21.8%16.9%17.0%-11.4%14.0%17.1%6.8%7.5%15.5%16.6%22.5%19.9%24.9%29.9%
Net Margin-18.9%31.6%20.5%17.0%-13.8%17.4%14.4%4.0%6.0%7.8%15.6%20.7%16.2%19.8%28.3%
Material Cost %42.4%39.7%41.9%41.3%38.8%37.3%42.4%48.4%53.5%49.7%44.9%45.2%43.5%34.5%30.2%
Employee Cost %5.9%4.9%4.1%5.0%4.7%5.2%4.0%4.2%4.6%4.1%3.8%3.6%4.0%4.2%3.7%
P/S3.855.054.77------------------------
P/E29.0733.3043.24------------------------
P/B2.092.722.39------------------------

Shareholding Pattern

Shareholders:1.4L (-7.1%)
Current MixMar 2026

Exchange Filings

50
Company Update06 Jul 2026

Attached

Company Update06 Jul 2026

Attached

Company Update02 Jul 2026

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Company Update01 Jul 2026

Attached

Company Update30 Jun 2026

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Company Update27 Jun 2026

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Others25 Jun 2026

Attached

Company Update25 Jun 2026

Attached

AGM/EGM25 Jun 2026

Attached

Others25 Jun 2026

Attached

Board Meeting25 Jun 2026

HEG Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 22/07/2026 ,inter alia, to consider and approve the Un-audited Financial Results (Standalone ....

Insider Trading / SAST25 Jun 2026

Closure of Trading Window

Company Update23 Jun 2026

Newspaper Publication regarding the 54th AGM to be held through VC/OAVM.

Company Update23 Jun 2026

Attached

Company Update22 Jun 2026

Attached

Corp. Action22 Jun 2026

Attached

AGM/EGM22 Jun 2026

Attached

Corp. Action22 Jun 2026

Attached

Company Update22 Jun 2026

Completion of Tenure of Independent Director

Company Update22 Jun 2026

Attached

Company Update21 Jun 2026

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Company Update19 Jun 2026

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Company Update18 Jun 2026

Attached

Company Update06 Jun 2026

Attached

Company Update02 Jun 2026

Please find attached a press release being issued by TACC Limited, a Wholly Owned Subsidiary of HEG Limited, announcing about signing of MOU with and Institute for functional intellignet ....

Company Update27 May 2026

Attached

Company Update27 May 2026

Attached

Company Update23 May 2026

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Company Update19 May 2026

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Company Update08 May 2026

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Company Update06 May 2026

Attached

AGM/EGM06 May 2026

Voting Result and Scrutinizer''s Report of NCLT Convened Equity Shareholders Meeting, Secured Creditors Meeting and Unsecured Creditors Meeting

Company Update06 May 2026

Voting Result and Scrutinizer''s Report of NCLT Convened Equity Shareholders Meeting, Secured Creditors Meeting and Unsecured Creditors Meeting.

AGM/EGM05 May 2026

Attached

Company Update05 May 2026

Attached

Company Update05 May 2026

Attached

Company Update04 May 2026

Attached

Company Update01 May 2026

Attached

Company Update30 Apr 2026

Attached

Board Meeting29 Apr 2026

Outcome of Board Meeting held on April 29, 2026

Company Update29 Apr 2026

Attached

Result29 Apr 2026

Attached

Company Update29 Apr 2026

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Corp. Action29 Apr 2026

Attached

Company Update29 Apr 2026

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Company Update29 Apr 2026

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Company Update29 Apr 2026

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Company Update27 Apr 2026

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Company Update22 Apr 2026

Attached

Others08 Apr 2026

<b>Format of Initial Disclosure to be made by an entity identified as a Large Corporate.</b><br/><br/> <table border=''1px''><tr> <td><b>Sr. No.</b></td> <td><b>Particulars</b></td> <td><b>Details</b></td> ....

Annual Reports

14

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

Credit Ratings

6
fitchRating update
29 May 2025Report
fitchRating update
11 Jul 2023Report
fitchRating update
12 Jul 2022Report
fitchRating update
13 Jul 2021Report
fitchRating update
14 Jul 2020Report
fitchRating update
24 Jun 2019Report

Concalls

63

Feb 2026

28 Feb 2026

Jan 2026

31 Jan 2026

Nov 2025

30 Nov 2025

Aug 2025

31 Aug 2025

May 2025

31 May 2025

Feb 2025

28 Feb 2025

Nov 2024

30 Nov 2024

Aug 2024

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Jun 2024

30 Jun 2024

May 2024

31 May 2024

Feb 2024

29 Feb 2024

Nov 2023

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Aug 2023

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Jun 2023

30 Jun 2023

Feb 2023

28 Feb 2023

Nov 2022

30 Nov 2022

Aug 2022

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Jun 2022

30 Jun 2022

Feb 2022

28 Feb 2022

Nov 2021

30 Nov 2021

Aug 2021

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Jun 2021

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Jun 2021

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Mar 2021

31 Mar 2021

Feb 2021

28 Feb 2021

Nov 2020

30 Nov 2020

Aug 2020

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Aug 2020

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Jul 2020

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Mar 2020

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Nov 2019

30 Nov 2019

Sep 2019

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Sep 2019

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Aug 2019

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Jun 2019

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Jun 2019

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May 2019

31 May 2019

May 2019

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May 2019

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Feb 2019

28 Feb 2019

Jan 2019

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Jan 2019

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Dec 2018

31 Dec 2018

Nov 2018

30 Nov 2018

Nov 2018

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Sep 2018

30 Sept 2018

Aug 2018

31 Aug 2018

Jun 2018

30 Jun 2018

May 2018

31 May 2018

Feb 2018

28 Feb 2018

Dec 2017

31 Dec 2017

Dec 2017

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Dec 2017

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Nov 2017

30 Nov 2017

Oct 2017

31 Oct 2017

Aug 2017

31 Aug 2017

Jun 2017

30 Jun 2017

Feb 2017

28 Feb 2017

Nov 2016

30 Nov 2016

May 2016

31 May 2016

Feb 2016

29 Feb 2016

Nov 2015

30 Nov 2015

Aug 2015

31 Aug 2015

Held by ETFs

11 ETFs hold heg · sorted by weight

#ETFWeight %
1

SMALL250

MIRAEAMC - SMALL250

0.23%
2

SBISMLETF

SBIAMC - SBISMLETF

0.23%
3

SMALLADD

DSPAMC - SMALLADD

0.23%
4

GROWWSC250

GROWWAMC - GROWWSC250

0.23%
5

MULTICAP

MIRAEAMC - MULTICAP

0.06%
6

HDFCSML250

HDFCAMC - HDFCSML250

0.20%
7

BSE500IETF

ICICIPRAMC - ICICI500

0.03%
8

MONIFTY500

MOTILALAMC - MONIFTY500

0.02%
9

HDFCBSE500

HDFCAMC - HDFCBSE500

0.02%
10

AONETOTAL

AONEAMC - AONETOTAL

0.02%
11

MOSMALL250

MOTILALAMC - MOSMALL250

0.23%

Held by Mutual Funds

2 schemes hold heg · sorted by weight

#SchemeWeight %
1

Bank of India Small Cap Fund

Bank of India Mutual Fund

0.98%
2

SBI Energy Opportunities Fund

SBI Mutual Fund

4.15%