HEG Ltd (HEG) — shareholding pattern, promoter holding, financials and share price
About HEG Ltd (HEG)
HEG Ltd operates in the Electrodes & Refractories industry, within the Capital Goods sector. It trades on the NSE as HEG and on the BSE under scrip code 509631. Its ISIN is INE545A01024.
HEG Ltd is a leading manufacturer and exporter of graphite electrodes in India. It operates the largest single-site integrated graphite electrodes plant in the world. [1] It is a part of LNJ Bhilwara Group which also has presence across IT Enabled services, power generation & textiles. [2]
HEG Limited is a leading Indian manufacturer and exporter of graphite electrodes, operating the world’s largest single‑site integrated plant at Mandideep with 100,000 tpa capacity, captive power and a long history within the LNJ Bhilwara Group; the company exports roughly two‑thirds of production to over 35 countries and supplies top global steelmakers.
HEG has expanded capacity from 80,000 tpa to 100,000 tpa (operational since Nov 2023) and announced a brownfield addition of 15,000 tpa to reach 115,000 tpa by early 2028, while reporting industry‑leading utilizations of ~85% in the prior quarter and ~89% across three quarters, and a product mix of about 70–75% Ultra High Power electrodes.
Listed peers in Electrodes & Refractories: Graphite India Ltd, Vesuvius India Ltd, RHI Magnesita India Ltd, Raghav Productivity Enhancers Ltd, IFGL Refractories Ltd, Monolithisch India Ltd.
Valuation & Returns
10 Jul 2026At ₹545.4 a share on 10 Jul 2026, HEG Ltd (HEG) was valued at a price-to-earnings ratio of 31.29x against an industry P/E of 37x and a price-to-book of 2.21x on a book value of ₹246.55 per share as of Mar 2026. Solomo computes return on equity of 7.07% and return on capital employed of 7.94% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 31.29x
- Industry P/E
- 37x
- P/B
- 2.21x
- EPS (TTM)
- ₹17.43
- Book value / share
- ₹246.55
- ROE
- 7.07%
- ROCE
- 7.94%
- ROA
- 5.45%
- Debt / equity
- 0.17x
- Dividend yield
- 0.33%
- EBITDA margin
- 25.61%
- 52-week range
- ₹459.85 – ₹685.1
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, HEG Ltd (HEG) reported revenue of ₹2,568 crore, net profit of ₹341 crore and earnings per share of ₹17.69. That compares with revenue of ₹2,151 crore and net profit of ₹115 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹603 crore and net profit ₹-114 crore (consolidated).
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue (₹ cr) | 2,201 | 2,463 | 2,393 | 2,151 | 2,568 |
| Net profit (₹ cr) | 431 | 532 | 312 | 115 | 341 |
| EPS (₹) | 22.33 | 27.59 | 16.15 | 5.96 | 17.69 |
| Measure | 10Y | 5Y | 3Y | 1Y |
|---|---|---|---|---|
| Sales growth | 12.41% | 15.38% | 1.35% | 19.31% |
| Profit growth | - | - | -14.06% | 196.69% |
| Stock price CAGR | 32% | 6% | 24% | 14% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 56.28% of HEG Ltd (HEG) (unchanged from the previous quarter), foreign institutional investors (FII) hold 8.47% and domestic institutional investors (DII) hold 9.26%. Market capitalisation was ₹10,525 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Mar 2001.
Largest disclosed public shareholders in Jun 2026: SBI ENERGY OPPORTUNITIES FUND 3.42%, MEKIMA CORPORATION 2.29%, BAJAJ FINSERV FLEXI CAP FUND 1.96%, BANK OF INDIA ELSS TAX SAVER 1.21%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 56.28% | - | 8.47% | 9.26% | 43.72% |
| Mar 2026 | 56.28% | - | 10.24% | 8.62% | 43.72% |
| Dec 2025 | 56.13% | - | 8.53% | 12.14% | 43.87% |
| Sep 2025 | 55.78% | - | 7.96% | 11.98% | 44.22% |
| Jun 2025 | 55.78% | - | 7.3% | 11.6% | 44.22% |
| Mar 2025 | 55.78% | - | 7.19% | 11.65% | 44.22% |
| Dec 2024 | 55.78% | - | 7.08% | 12.09% | 44.22% |
| Sep 2024 | 55.78% | - | 6.92% | 12.81% | 44.22% |