HEG Ltd

HEG Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

HEG Ltd

₹ 568 -0.78%
11 Dec 3:59 p.m.
hegltd.com BSE: 509631 NSE: HEG
About

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]

Key Points

Product Offerings
The company offers various grades of graphite electrodes such as ultra-high power (UHP), high power (SHP), and Regular power (HP) electrodes of various different lengths and diameters. Its expertise lies in Graphite Electrodes, Power Division, and Carbon Specialty products.[1] The sector is a High-tech / High Entry Barrier sector; HEG the last new entrant in the world in 1976.[2]

Website BSE NSE
  • Market Cap ₹ 10,937 Cr.
  • Current Price ₹ 568
  • High / Low ₹ 620 / 317
  • Stock P/E 79.9
  • Book Value ₹ 214
  • Dividend Yield 0.79 %
  • ROCE 7.30 %
  • ROE 5.61 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 37.7%

Cons

  • Stock is trading at 2.66 times its book value
  • Company has a low return on equity of 9.28% over last 3 years.
  • Earnings include an other income of Rs.151 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Capital Goods-Non Electrical Equipment Industry: Electrodes - Graphites

Part of BSE 400 MidSmallCap Index BSE 250 SmallCap Index Nifty Total Market Nifty MidSmallcap 400 Nifty 500

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
518 597 673 722 598 530 617 671 614 562 547 571 568
376 441 516 538 419 397 493 520 512 476 504 533 471
Operating Profit 142 156 157 184 179 133 124 151 102 87 43 39 97
OPM % 27% 26% 23% 25% 30% 25% 20% 23% 17% 15% 8% 7% 17%
25 15 17 21 20 37 31 26 28 23 64 20 43
Interest 1 4 1 4 7 8 7 9 9 10 9 8 9
Depreciation 18 21 21 21 23 25 33 38 38 47 50 48 48
Profit before tax 148 146 152 180 168 137 115 130 83 53 49 3 82
Tax % 24% 25% 25% 26% 23% 25% 22% 25% 26% 30% 28% 21% 25%
113 109 113 134 130 103 89 98 62 37 35 3 62
EPS in Rs 5.85 5.62 5.87 6.92 6.73 5.33 4.62 5.05 3.20 1.92 1.82 0.13 3.22
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
1,619 1,467 1,228 870 859 2,748 6,591 2,145 1,254 2,201 2,463 2,393 2,248
1,326 1,220 1,046 733 778 1,027 1,930 2,150 1,308 1,670 1,843 2,009 1,983
Operating Profit 293 247 182 137 81 1,721 4,662 -5 -53 530 620 384 266
OPM % 18% 17% 15% 16% 9% 63% 71% -0% -4% 24% 25% 16% 12%
-42 -4 15 4 7 12 106 143 107 77 109 142 151
Interest 64 72 77 60 55 56 18 37 11 7 26 36 36
Depreciation 63 73 75 79 74 73 72 72 73 79 102 175 193
Profit before tax 125 97 44 1 -41 1,605 4,677 29 -31 520 600 315 187
Tax % 16% 11% 12% 886% 23% 33% 35% -82% -18% 25% 24% 27%
106 87 39 -8 -50 1,081 3,050 53 -25 391 456 232 137
EPS in Rs 5.29 4.34 1.95 -0.38 -2.51 54.12 158.05 2.77 -1.31 20.24 23.60 12.00 7.09
Dividend Payout % 30% 28% 31% 0% 0% 30% 10% 181% -46% 40% 36% 38%
Compounded Sales Growth
10 Years: 5%
5 Years: -18%
3 Years: 24%
TTM: -8%
Compounded Profit Growth
10 Years: 8%
5 Years: -40%
3 Years: 141%
TTM: -61%
Stock Price CAGR
10 Years: 28%
5 Years: 21%
3 Years: 16%
1 Year: 65%
Return on Equity
10 Years: 20%
5 Years: 6%
3 Years: 9%
Last Year: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 40 40 40 40 40 40 39 39 39 39 39 39 39
Reserves 823 884 901 881 832 1,769 3,680 3,384 3,360 3,738 4,039 4,106 4,085
1,396 1,027 917 782 684 297 667 594 298 665 743 621 562
358 478 315 176 216 534 684 332 451 730 668 651 640
Total Liabilities 2,618 2,430 2,173 1,878 1,772 2,640 5,070 4,350 4,148 5,171 5,488 5,417 5,326
718 941 907 932 889 833 788 745 694 763 1,363 1,782 1,764
CWIP 215 119 108 27 1 2 19 101 373 696 472 194 203
Investments 70 98 150 153 150 149 867 1,156 1,261 1,034 664 996 1,117
1,615 1,273 1,009 767 732 1,656 3,396 2,348 1,819 2,678 2,989 2,444 2,241
Total Assets 2,618 2,430 2,173 1,878 1,772 2,640 5,070 4,350 4,148 5,171 5,488 5,417 5,326

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
115 773 276 249 157 594 1,488 739 716 -141 114 615
-145 -294 -83 -29 -1 -9 -676 -275 -417 -183 -31 -205
26 -482 -202 -219 -153 -588 -788 -460 -310 344 -100 -324
Net Cash Flow -3 -3 -8 1 3 -3 24 4 -11 20 -17 86

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 135 130 121 134 153 129 66 68 84 98 72 78
Inventory Days 282 256 238 342 216 391 428 226 262 431 574 379
Days Payable 62 119 76 48 73 188 124 30 116 197 164 135
Cash Conversion Cycle 355 267 282 428 297 332 370 264 230 331 483 321
Working Capital Days 227 149 184 212 172 159 123 235 180 185 217 206
ROCE % 11% 9% 6% 3% 1% 91% 143% -0% -0% 13% 14% 7%

Shareholding Pattern

Numbers in percentages

28 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
55.13% 55.13% 55.13% 55.12% 55.12% 55.77% 55.77% 55.77% 55.77% 55.77% 55.77% 55.77%
13.38% 8.90% 6.81% 5.68% 4.98% 6.25% 6.73% 6.81% 6.85% 6.86% 6.06% 6.93%
7.49% 8.19% 8.44% 8.51% 6.67% 6.26% 7.42% 7.21% 8.85% 10.38% 13.08% 12.79%
23.99% 27.77% 29.61% 30.67% 33.22% 31.71% 30.07% 30.21% 28.51% 26.98% 25.08% 24.51%
No. of Shareholders 1,27,0591,43,5781,45,4881,47,2461,52,1181,48,2691,35,5191,37,3421,32,6621,29,9051,19,3991,18,471

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

Credit ratings

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