HEG Limited Reports Strong Q2 Performance

Revenue from operations reached Rs 740.40 crore for the quarter ended September 30, 2026.
Net profit for the period (PAT) stood at Rs 156.51 crore with basic EPS of Rs 8.11.

Reader Takeaway: Strong graphite segment demand drives core profitability, though power division segments remain a minor drag.

What just happened

HEG Limited, the resulting company from the recent composite scheme of arrangement, has disclosed its unaudited financial results for the quarter ending September 30, 2026. Because the equity shares of HEG Limited are currently unlisted, the disclosure was routed through the demerged entity, HEG Advanced Materials Limited, to ensure transparency for shareholders. Auditors SCV & Co. LLP have provided an unmodified review conclusion on these accounts.

Why this matters

This filing provides the first clear look at the independent operational health of the graphite business and the TAWA power plant assets following their transfer. Investors can now accurately assess the earning potential of the demerged graphite operations, which serves as the primary revenue engine for the resulting entity.

The backstory

The reported financials are presented under the accounting treatment for business combinations under common control. Comparative figures have been restated per Appendix C to Ind AS 103 to reflect the transfer of the graphite and power assets, allowing for a like-for-like comparison against the previous periods.

Segment Performance

The Graphite segment remains the company's powerhouse, contributing Rs 740.40 crore to quarterly revenue. Conversely, the power segment delivered negligible revenue and reported a marginal loss of Rs 1.73 crore for the quarter, indicating the primary focus remains heavily weighted toward graphite manufacturing.

What to track next

Investors should monitor the timeline for the eventual listing of HEG Limited shares on the stock exchanges. Market participants should also continue to track global graphite demand trends, as this remains the central driver of the company’s revenue and profitability.