The biggest highlight of the quarter was HEG’s operating performance. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) climbed 42.5% year-on-year to ₹150.6 crore, significantly outpacing revenue growth. As a result, EBITDA margin expanded to 22.1% from 17.3% in the year-ago quarter, underscoring improved profitability.
The company’s core graphite segment generated revenue of ₹677.7 crore, compared with ₹609 crore in Q1 FY26, continuing to account for nearly all of HEG’s revenue base.
Meanwhile, the power segment contributed ₹3.1 crore in revenue, down from ₹3.8 crore a year earlier. Segment profit from the business stood at ₹1.1 crore, compared with ₹1.6 crore in the corresponding quarter last year.
Supported by stronger operating performance, total segment results from continuing operations nearly doubled to ₹149.8 crore, versus ₹75.3 crore in the year-ago period.
ended the June quarter with total assets of ₹6,333.97 crore, while total liabilities stood at ₹1,453.78 crore, highlighting a solid balance-sheet position as the company pursues growth opportunities in advanced materials.
In a strategic move that signals its ambitions beyond traditional graphite electrodes, HEG said its board has taken note of the company’s application to the Ministry of Corporate Affairs (MCA) for reserving the proposed name “HEG Advanced Materials Limited.”
The MCA has approved the name reservation for a period of 60 days. The company said the proposed rebranding reflects its increasing focus on advanced manufacturing, specialised capabilities and value-added material technologies. The change will take effect after the proposed Composite Scheme of Arrangement becomes operational and all regulatory approvals are obtained.
HEG has been steadily building its presence in the energy-transition value chain through subsidiary TACC Ltd.
Earlier this year, TACC signed a long-term agreement with INOX Air Products for the supply of nitrogen at its upcoming greenfield facility in Dewas, Madhya Pradesh. The plant is being developed to manufacture lithium-ion battery-grade graphite anode material, a key component used in electric vehicle and energy storage batteries.
The partnership will see INOX Air Products establish a dedicated onsite nitrogen facility at the upcoming plant.
HEG shares closed at ₹599 on July 22, down 0.98% or ₹5.95 on the NSE ahead of the earnings announcement. Despite the improved quarterly performance, the stock remains down around 4% year-to-date.
