HEG Advanced Materials Ltd
HEG Advanced Materials Ltd (HEGAM) last reported results for the quarter ended Jun 2026, with sales of ₹681 crore and net profit of ₹122 crore. The stock last traded at ₹234, a market capitalisation of ₹4,509 crore, on a P/E of 12.7. Over the past 52 weeks the stock has ranged between ₹172 and ₹278. Figures are as of 9 Oct 2026 and are not real time.
HEG Advanced Materials Ltd share price and key metrics
- Current price
- ₹234
- Market cap
- ₹4,509 cr
- Stock P/E
- 12.7
- Book value
- ₹247
- ROE
- 7.42%
- ROCE
- 8.35%
- Dividend yield
- 1.46%
- 52w high / low
- 278/172
Metrics as of 9 Oct 2026. Not real time.
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HEG Advanced Materials Ltd growth and returns
- 10 Years
- 11%
- 5 Years
- 15%
- 3 Years
- 1%
- TTM
- 20%
- 10 Years
- 63%
- 5 Years
- 46%
- 3 Years
- -14%
- TTM
- 80%
- 10 Years
- 34%
- 5 Years
- 5%
- 3 Years
- 22%
- 1 Year
- 19%
- 10 Years
- 17%
- 5 Years
- 8%
- 3 Years
- 6%
- Last Year
- 7%
HEG Advanced Materials Ltd quarterly results
In the quarter ended Jun 2026, sales were ₹681 cr, up 11.1% from ₹613 cr a year earlier. Net profit was ₹122 cr, up 16.2% year on year.
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 568 | 478 | 537 | 613 | 699 | 656 | 603 | 681 |
| Expenses | 471 | 411 | 598 | 507 | 581 | 513 | 752 | 530 |
| Operating profit | 97 | 67 | -61 | 106 | 118 | 143 | -148 | 151 |
| OPM % | 17% | 14% | -11% | 17% | 17% | 22% | -25% | 22% |
| Other income | 63 | 112 | 43 | 82 | 120 | 167 | 72 | 74 |
| Interest | 9 | 9 | 12 | 8 | 9 | 9 | 11 | 10 |
| Depreciation | 48 | 51 | 55 | 53 | 54 | 54 | 53 | 50 |
| Profit before tax | 103 | 119 | -85 | 126 | 175 | 246 | -140 | 165 |
| Tax % | 20% | 30% | -13% | 17% | 18% | 16% | -19% | 26% |
| Net profit | 82 | 83 | -74 | 105 | 143 | 207 | -114 | 122 |
| EPS (₹) | 4.26 | 4.32 | -3.82 | 5.43 | 7.43 | 10.72 | -5.89 | 6.34 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
HEG Advanced Materials Ltd annual results
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 859 | 2,748 | 6,591 | 2,145 | 1,254 | 2,201 | 2,463 | 2,393 | 2,151 | 2,568 | 2,639 |
| Operating profit | 81 | 1,721 | 4,662 | -5 | -53 | 530 | 619 | 382 | 260 | 399 | 263 |
| OPM % | 9% | 63% | 71% | -0.2% | -4.2% | 24% | 25% | 16% | 12% | 16% | 10% |
| Net profit | -44 | 1,099 | 3,026 | 68 | -18 | 431 | 532 | 312 | 115 | 341 | 359 |
| EPS (₹) | -2.20 | 54.97 | 156.80 | 3.50 | -0.93 | 22.33 | 27.59 | 16.15 | 5.96 | 17.69 | 18.60 |
TTM is the trailing twelve months to the most recent quarter.
HEG Advanced Materials Ltd balance sheet
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 40 | 40 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 |
| Reserves | 913 | 1,868 | 3,755 | 3,473 | 3,456 | 3,875 | 4,242 | 4,387 | 4,415 | 4,719 |
| Borrowings | 684 | 297 | 667 | 594 | 298 | 665 | 743 | 623 | 588 | 796 |
| Other liabilities | 216 | 534 | 684 | 332 | 451 | 730 | 668 | 653 | 607 | 612 |
| Total liabilities | 1,853 | 2,739 | 5,144 | 4,438 | 4,244 | 5,308 | 5,692 | 5,701 | 5,648 | 6,166 |
| Fixed assets | 889 | 833 | 788 | 745 | 694 | 763 | 1,363 | 1,816 | 1,938 | 1,788 |
| CWIP | 1 | 2 | 19 | 101 | 373 | 696 | 472 | 212 | 71 | 224 |
| Investments | 231 | 248 | 942 | 1,245 | 1,358 | 1,171 | 859 | 1,200 | 1,400 | 1,478 |
| Other assets | 732 | 1,656 | 3,396 | 2,348 | 1,819 | 2,678 | 2,998 | 2,474 | 2,238 | 2,676 |
| Total assets | 1,853 | 2,739 | 5,144 | 4,438 | 4,244 | 5,308 | 5,692 | 5,701 | 5,648 | 6,166 |
As reported by the company. Total assets equal total liabilities by construction.
HEG Advanced Materials Ltd cash flow
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 157 | 594 | 1,488 | 739 | 716 | -141 | 113 | 612 | 280 | 213 |
| Cash from investing | -1 | -9 | -676 | -275 | -417 | -183 | -21 | -184 | -207 | -320 |
| Cash from financing | -153 | -588 | -788 | -460 | -310 | 344 | -100 | -324 | -159 | 97 |
| Net cash flow | 3 | -3 | 24 | 4 | -11 | 20 | -8 | 104 | -86 | -10 |
| Free cash flow | 154 | 580 | 1,441 | 503 | 460 | -499 | -364 | 244 | 102 | -35 |
| CFO / operating profit | 205% | 65% | 67% | -17,020% | -1,349% | -2% | 42% | 169% | 125% | 59% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
HEG Advanced Materials Ltd operating ratios
| Per year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 1% | 86% | 139% | -0% | -2% | 14% | 15% | 9% | 4% | 8% |
| Debtor days | 153 | 129 | 66 | 68 | 84 | 98 | 72 | 78 | 75 | 71 |
| Inventory days | 216 | 391 | 428 | 226 | 262 | 431 | 574 | 379 | 507 | 389 |
| Days payable | 73 | 188 | 124 | 30 | 116 | 197 | 164 | 135 | 161 | 138 |
| Cash conversion cycle | 297 | 332 | 370 | 264 | 230 | 331 | 483 | 321 | 421 | 323 |
| Working capital days | -3 | 120 | 86 | 134 | 93 | 75 | 107 | 111 | 141 | 132 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
HEG Advanced Materials Ltd shareholding pattern
Promoters held 60.72% at Sep 2026, up from 55.77% at Sep 2025. FIIs 5.29% and DIIs 12.77%.
| % held | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 55.77% | 55.77% | 55.77% | 55.77% | 56.13% | 56.27% | 56.27% | 60.72% |
| FIIs | 7.07% | 7.18% | 7.29% | 7.97% | 8.52% | 10.23% | 8.47% | 5.29% |
| DIIs | 12.09% | 11.65% | 11.60% | 11.99% | 12.15% | 8.63% | 9.27% | 12.77% |
| Public | 25.04% | 25.38% | 25.33% | 24.27% | 23.20% | 24.86% | 25.97% | 21.21% |
| No. of shareholders | 1,52,166 | 1,53,063 | 1,48,036 | 1,41,576 | 1,32,314 | 1,37,675 | 1,39,601 | 1,34,276 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
HEG Advanced Materials Ltd corporate filings
- Certificate under Reg. 74(5) of SEBI (DP) Regulations, 2018Company Updatelow impact
- Re-lodgement of physical share transfer requests for September 2026 by HEG Advanced Materials LtdCompany Updatelow impact
Cruxal's analysis: HEG Ltd has re-lodged transfer requests of physical shares for September 2026. This is a…
Read the full analysis - HEG Advanced Materials receives Rs. 127.35 crore order from Indus Towers for Lithium-Ion Battery Banks, indicating strategic expansion into energy storage segmentCompany Updatehigh impact
Cruxal's analysis: HEG Advanced Materials has secured a significant domestic order worth Rs. 127.35 crore…
Read the full analysis - HEG Advanced Materials Ltd announces collaboration with Replus Engitech and Indus Towers on energy storage solutions for telecom infrastructureCompany Updatelow impact
Cruxal's analysis: The company disclosed a collaboration involving Replus Engitech and Indus Towers to…
Read the full analysis - HEG Advanced Materials Limited (formerly HEG Limited) completes tax-neutral demerger of graphite business, issuing 1 share of INR 2 for every share held, with no immediate financial impact disclosedCompany Updatelow impact
Cruxal's analysis: HEG Advanced Materials Limited has announced the completion of a court-approved demerger…
Read the full analysis - Closure of Trading WindowInsider Trading / SASTlow impact
- HEG Advanced Materials Ltd schedules analyst/investor meetingCompany Updatelow impact
Cruxal's analysis: HEG Advanced Materials Ltd has issued an intimation regarding a scheduled…
Read the full analysis - HEG Advanced Materials Limited: Promoter Group Increases Stake to 60.72% via Scheme of ArrangementInsider Trading / SASTmedium impact
Cruxal's analysis: HEG Advanced Materials Limited (formerly HEG Limited) has reported a significant change…
Read the full analysis - HEG Advanced Materials Limited: Promoter Group LNJ Spark Advisory LLP Acquires 12.29% Stake via Scheme of ArrangementInsider Trading / SASTlow impact
Cruxal's analysis: HEG Advanced Materials Limited (formerly HEG Limited) has seen its promoter group entity…
Read the full analysis - HEG Advanced Materials subsidiary Replus Engitech secures INR 217.56 crore order from Indus Towers for Lithium-Ion Battery BanksCompany Updatehigh impact
Cruxal's analysis: HEG Advanced Materials Limited has announced that its subsidiary, Replus Engitech Private…
Read the full analysis - HEG Advanced Materials subsidiary Replus Engitech secures INR 217.56 crore order from Indus TowersCompany Updatehigh impact
Cruxal's analysis: HEG Advanced Materials Limited has announced that its subsidiary, Replus Engitech Private…
Read the full analysis - HEG Advanced Materials Limited: Promoter Group Increases Stake to 60.72% via Composite Scheme of ArrangementInsider Trading / SASTlow impact
Cruxal's analysis: HEG Advanced Materials Limited (formerly HEG Ltd.) has disclosed a change in promoter…
Read the full analysis - Singularity Group Acquires 13.04% Stake in HEG Advanced Materials Limited via Composite Scheme of ArrangementInsider Trading / SASTmedium impact
Cruxal's analysis: HEG Advanced Materials Limited (formerly HEG Limited) has completed a share allotment…
Read the full analysis - HEG Advanced Materials Limited announces resignation of President - Investor RelationCompany Updatelow impact
Cruxal's analysis: HEG Advanced Materials Limited has formally announced the resignation of Shri Salil Bawa…
Read the full analysis - HEG Ltd schedules analyst/investor meeting for September 10, 2026Company Updatelow impact
Cruxal's analysis: HEG Ltd has issued an intimation regarding a scheduled analyst/investor meeting. The…
Read the full analysis - HEG Ltd reports routine re-lodgement of physical share transfer requests for August 2026Company Updatelow impact
Cruxal's analysis: HEG Ltd has filed a routine disclosure regarding the re-lodgement of physical share…
Read the full analysis - HEG Ltd updates corporate website to hegadvancedmaterials.comCompany Updatelow impact
Cruxal's analysis: HEG Ltd has officially changed its corporate website domain from www.hegltd.com to…
Read the full analysis - HEG Ltd updates corporate website name to HEG Advanced Materials LimitedCompany Updatelow impact
Cruxal's analysis: HEG Ltd has formally changed its website name from 'HEG Limited' to 'HEG Advanced…
Read the full analysis - HEG Limited rebrands to HEG Advanced Materials LimitedCompany Updatelow impact
Cruxal's analysis: HEG Limited has officially changed its corporate name to HEG Advanced Materials Limited…
Read the full analysis - HEG Ltd receives ESG score assignment from NSE Sustainability Ratings & Analytics LimitedCompany Updatelow impact
Cruxal's analysis: HEG Ltd has been assigned an ESG score by NSE Sustainability Ratings & Analytics Limited…
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