HEG Advanced Materials share price
NSE: HEGAMBSE: 509631Industrial ProductsSmall Cap
HEG Advanced Materials Limited · Formerly HEG · Face value ₹2 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed May 1976 on BSE, May 1995 on NSE
Last close ₹228.74up ₹13.47 (6.26%)BSE ₹228.60
Share price at the NSE close on 28 Oct 2026. Previous close ₹215.27.
28 Oct: open ₹217.35, high ₹232.88, low ₹214.32
52-week range of traded prices to 28 Oct 2026
₹191.71Low, 23 Oct 2026₹753.90High, 1 Sep 2026
- Next results date: the board meets on 3 Nov 2026 to consider: financial results, fund raising and other business matters. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹7,544 Cr527th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Not shown: part of the business was demerged on 7 Sep 2026, and the accounts this figure is made of still include the part that left. It returns once accounts of the company as it now is are filed. Price to earnings, trailing: how it is worked out
- Demergernew accounts awaited
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Not shown: part of the business was demerged on 7 Sep 2026, and the accounts this figure is made of still include the part that left. It returns once accounts of the company as it now is are filed. Price to book: how it is worked out
- Demergernew accounts awaited
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.53%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Not shown: part of the business was demerged on 7 Sep 2026, and the accounts this figure is made of still include the part that left. It returns once accounts of the company as it now is are filed.
- Demergernew accounts awaited
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. Not shown: part of the business was demerged on 7 Sep 2026, and the accounts this figure is made of still include the part that left. It returns once accounts of the company as it now is are filed.
- Demergernew accounts awaited
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. Not shown: part of the business was demerged on 7 Sep 2026, and the accounts this figure is made of still include the part that left. It returns once accounts of the company as it now is are filed.
- Demergernew accounts awaited
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 42,59,66823.8% delivered
About HEG Advanced Materials
HEG Limited manufactures graphite electrodes. A graphite electrode is a consumable used in electric arc furnaces: it conducts electricity and generates the heat that melts steel scrap. The company makes UHP (Ultra High Power) and HP (High Power) grades. Its customers are primarily steel manufacturers that run electric arc furnaces, and it also supplies graphite products to other industries.
Its graphite electrode plant is at Mandideep, near Bhopal in Madhya Pradesh, with an annual capacity of 100,000 tonnes. The company also generates its own power, from two thermal power plants and one hydro power plant. It exports roughly 65 to 70 per cent of its production.
HEG was incorporated in 1972, and its shares are listed on the BSE and the National Stock Exchange of India. It is the flagship company of the LNJ Bhilwara Group. It has three wholly owned subsidiaries: TACC Limited, HEG Graphite Limited and Bhilwara Infotechnology Limited. Bhilwara Energy Limited is an associate company.
A composite scheme of arrangement, approved by the board in May 2024, was filed with the National Company Law Tribunal, Indore Bench, in January 2026. It provides for the demerger of the graphite business into HEG Graphite Limited and for the amalgamation of Bhilwara Energy Limited with HEG Limited. The appointed date for the scheme is 1 April 2024, and the tribunal has directed meetings of the equity shareholders and creditors to consider it.
Written from the annual report for the year to Mar 2026, filed 25 Jun 2026 and the investor presentation.
Sources for 23 statements, each with its page
- A graphite electrode is a consumable for electric arc furnaces used in steel production. Investor presentation, page 3
- In electric arc furnaces the electrode conducts electricity and generates the heat that melts steel scrap. Investor presentation, page 3
- The company produces UHP and HP graphite electrodes at Mandideep, Madhya Pradesh. Annual report, page 8
- Customers primarily steel manufacturers operating electric arc furnaces. Annual report, page 56
- It also supplies graphite products to other industries. Annual report, page 56
- The works are at Mandideep, near Bhopal. Annual report, page 27
- Annual capacity of 100,000 tonnes. Investor presentation, page 4
- Captive power from two thermal power plants and one hydro power plant. Investor presentation, page 4
- Exports roughly 65 to 70 per cent of production. Investor presentation, page 4
- Incorporated in 1972. Annual report, page 56
- Shares listed on BSE and NSE. Annual report, page 8
- Flagship company of the LNJ Bhilwara Group. Annual report, page 8
- Three wholly owned subsidiaries. Annual report, page 29
- TACC Limited is a subsidiary. Annual report, page 29
- HEG Graphite Limited is a subsidiary. Annual report, page 29
- Bhilwara Infotechnology Limited is a subsidiary. Annual report, page 29
- Bhilwara Energy Limited is the one associate company. Annual report, page 29
- Board approved the composite scheme on 22 May 2024. Annual report, page 29
- Scheme filed with the NCLT Indore Bench in January 2026. Annual report, page 29
- Scheme provides for demerger of the graphite business into HEG Graphite Limited. Annual report, page 29
- Scheme provides for amalgamation of Bhilwara Energy Limited with the company. Annual report, page 29
- Appointed date of the scheme is 1 April 2024. Annual report, page 29
- The tribunal directed meetings of equity shareholders and creditors on the scheme. Annual report, page 29
Results
Consolidated; ₹ crore.HEG Advanced Materials quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +19.7%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +82.3%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹681 Crup 12.86%
- Net profitNet profit. Under it, net profit in the quarter before. A change in per cent is not worked out where either period is a loss or nothing. Net profit in the glossary
- ₹122 CrQuarter to Mar 2026: −₹114 Cr
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 18.0%
Revenue by quarter
Peak revenue ₹699 Cr, quarter to Sep 2025; lowest ₹478 Cr, quarter to Dec 2024
Net profit by quarter, a loss in red
- Net profit
- Loss
Back to profit in the quarter to Jun 2026, ₹122 CrA loss in 2 of the 8 quarters shown
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 568 | 478 | 542 | 617 | 699 | 656 | 603 | 681 |
| Net profit | 82 | 83 | −74 | 105 | 143 | 207 | −114 | 122 |
| Net margin | 14.5% | 17.4% | −13.6% | 17.0% | 20.5% | 31.5% | −18.9% | 18.0% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹2,569 Crup 18.93%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹341 Crup 196.68%
- Net margin
- 13.3%
Revenue by year
Peak revenue ₹6,593 Cr, year to Mar 2019; lowest ₹896 Cr, year to Mar 2017
Net profit by year, a loss in red
- Net profit
- Loss
A loss in 2 of the 10 years shown
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 896 | 2,758 | 6,593 | 2,149 | 1,256 | 2,202 | 2,467 | 2,395 | 2,160 | 2,569 |
| Net profit | −44 | 1,099 | 3,026 | 68 | −18 | 431 | 532 | 312 | 115 | 341 |
| Net margin | −4.9% | 39.9% | 45.9% | 3.1% | −1.4% | 19.6% | 21.6% | 13.0% | 5.3% | 13.3% |
Consolidated. Years to March. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
Share of revenue, year to Mar 2026, consolidated. The year to Mar 2026 ended before the demerger of 7 Sep 2026: these businesses may include ones that left with it.Segment revenue and profit
- GraphiteGraphite, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹2,540 Crup 19.79%98.6%
- PowerPower, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹29 Crdown 11.39%1.1%
- OthersOthers, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹7 Cr0.3%
The pill is the change in revenue on the year before; the share is of all the businesses together.
Valuation
Today, against the company's own history. Not shown, P/E: demerger, new accounts awaited. Not shown, P/B: demerger, new accounts awaited.HEG Advanced Materials PE ratio and valuation
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 39% of 2,445 trading days over the last 10 years.
LowestHighest
Its median1.07%Industry median0.67%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +13.0% | +196.8% | −62.2% | 0.6% |
| 3 years | +44.1% | −13.8% | +66.2% | 0.7% |
| 5 years | +15.1% | – | – | 1.9% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record.
Mutual fund holdings
57 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 42 of the 50 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 57 funds holding HEG Advanced Materials
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 6
- AddedAdded. Funds that held more shares than at the end of the month before.
- 6
- CutCut. Funds that held fewer shares than at the end of the month before.
- 44
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 1
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 10
| Fund | |||
|---|---|---|---|
 HDFC Manufacturing fundHDFC Mutual Fund | 41,00,000 | 0.95% | ₹97.4 Cr |
 SBI Energy Opportunities FundSBI Mutual Fund | 31,51,787 | 0.94% | ₹74.9 Cr |
| HDFC Multi Cap FundHDFC Mutual Fund | 25,57,048 | 0.31% | ₹60.8 Cr |
 Bandhan Small Cap FundBandhan Mutual Fund | 15,19,714 | 0.10% | ₹36.1 Cr |
| HDFC Balanced Advantage FundHDFC Mutual Fund | 10,19,731 | 0.02% | ₹24.2 Cr |
 Mahindra Manulife Business Cycle FundMahindra Manulife Mutual Fund | 5,60,533 | 1.03% | ₹13.3 Cr |
| Mahindra Manulife Value FundMahindra Manulife Mutual Fund | 4,73,976 | 1.11% | ₹11.3 Cr |
| HDFC Dividend Yield FundHDFC Mutual Fund | 3,50,055 | 0.16% | ₹8.32 Cr |
| Bandhan Innovation FundBandhan Mutual Fund | 3,37,201 | 0.26% | ₹8.01 Cr |
| Bandhan Infrastructure FundBandhan Mutual Fund | 2,78,976 | 0.48% | ₹6.63 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 29 Oct 2025.HEG Advanced Materials insider trading
Bought on the marketBought on the market. The value each filer stated for its purchases on the exchange, added up; gifts, transfers and pledges are not counted. A purchase filed with no value is counted under the sum, not in it. Sold on the marketSold on the market. The value each filer stated for its sales on the exchange, added up; gifts, transfers and pledges are not counted. A sale filed with no value is counted under the sum, not in it.
- Promoters and promoter group6 purchases, 4 sales₹51 Cr₹0.34 CrNetNet. The value bought on the market less the value sold, over the trades whose filers stated a value.₹51 Cr
- Directors and key managers3 purchases, 0 sales₹2.57 CrNo saleNet₹2.57 Cr
- Others: no market trade · 1 pledge filing of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
HEG Advanced Materials competitors and peers
Electrodes & Refractories, 14 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to HEG Advanced Materials in market cap.Capital goods stocks
HEG Advanced Materials is not on the chart: it has no P/E or return on equity today
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Graphite IndiaGRAPHITE | 14,363 | 67.43 | 2.45 | +21.3% | −40.7% | 3.6% | −0.1% | 0.95% |
 Raghav Productivity EnhancersRPEL | 8,101 | 114.93 | 28.77 | +38.2% | +55.0% | 28.4% | 30.4% | 0.06% |
 Vesuvius IndiaVESUVIUS | 7,754 | 30.27 | 4.43 | +8.9% | +2.2% | 15.7% | 16.4% | 0.39% |
 Rhi Magnesita IndiaRHIM | 7,317 | – | 2.06 | +8.5% | −314.4% | −9.4% | 7.2% | 0.71% |
 Monolithisch IndiaMONOLITH | 2,714 | 76.62 | 17.86 | – | – | 26.4% | – | 0.00% |
 IFGL RefractoriesIFGLEXPOR | 1,251 | 30.54 | 1.06 | +15.4% | +40.5% | 3.6% | 4.6% | 1.24% |
 Foseco Crucible (India)FOSECOC | 1,088 | 37.93 | 6.91 | +5.6% | +13.5% | 19.6% | 31.7% | 0.64% |
 Orient CeratechORIENTCER | 472 | 18.05 | 1.56 | +24.0% | +130.8% | 8.9% | 9.4% | 0.89% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.HEG Advanced Materials dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹16.00 a share, years to Mar 2018 and Mar 2019.
| Ex-date | Type | Per share |
|---|---|---|
| 22 Jul 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹3.40 |
| 13 Aug 2025 | Final | ₹1.80 |
| 31 Jul 2024 | Final | ₹22.50 |
| 24 Aug 2023 | Final | ₹42.50 |
| 24 Aug 2022 | Final | ₹40.00 |
| 19 Jul 2021 | Final | ₹3.00 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.HEG Advanced Materials announcements
Oct 2026
28 Oct · Meeting
HEG Advanced Materials share price by year
Each calendar year to 2025.HEG Advanced Materials share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 623.85 | +22.3% | 623.85 | 339.90 |
| 2024 | 510.20 | +33.7% | 597.45 | 323.75 |
| 2023 | 381.67 | +85.2% | 384.42 | 184.14 |
| 2022 | 206.07 | −42.4% | 380.30 | 180.12 |
| 2021 | 357.61 | +93.1% | 506.60 | 185.90 |
| 2020 | 185.18 | −13.1% | 248.48 | 83.83 |
| 2019 | 213.19 | −71.2% | 737.27 | 175.98 |
| 2018 | 741.51 | +58.7% | 949.30 | 442.31 |
| 2017 | 467.27 | +1,456.5% | 467.27 | 30.22 |
| 2016 | 30.02 | −17.0% | 38.71 | 23.75 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 205.30 | 217.20 | 204.26 | 215.27 | 213.63 | 12,49,660 | 50.3% |
| 26 Oct 2026 | 199.07 | 212.00 | 195.63 | 205.00 | 207.25 | 18,74,025 | 26.7% |
| 23 Oct 2026 | 208.00 | 208.69 | 191.71 | 198.78 | 196.85 | 7,18,418 | 48.2% |
| 22 Oct 2026 | 210.95 | 211.00 | 204.88 | 205.67 | 206.76 | 3,43,640 | 48.0% |
| 21 Oct 2026 | 224.00 | 224.00 | 208.80 | 210.15 | 213.07 | 6,46,875 | 46.3% |
| 19 Oct 2026 | 225.91 | 226.02 | 218.00 | 219.09 | 220.75 | 3,82,401 | 53.0% |
| 16 Oct 2026 | 227.01 | 228.00 | 224.00 | 224.72 | 225.62 | 3,27,822 | 53.0% |
| 15 Oct 2026 | 233.10 | 233.10 | 226.20 | 226.91 | 228.53 | 5,35,256 | 57.3% |
| 14 Oct 2026 | 230.57 | 233.45 | 227.00 | 232.07 | 231.60 | 4,08,009 | 41.7% |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 7 Sep 2026 | Demerger | 0.3570 | Part of the business became a separate company. The factor is the opening price on the ex-date divided by the previous close. The chart shows earlier prices with the demerger reinvested. |
| 18 Oct 2024 | Split | 0.2000 | Each share became 5. |
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.
Company details
- NSE symbol
- HEGAM
- BSE code
- 509631
- ISIN
- INE545A01024
- Industry
- Industrial Products
- Former symbols
- HEG
- Website
- www.hegadvancedmaterials.com
- CIN
- L23109MP1972PLC008290
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1972
- Registered office
- Near Bhopal, Mandideep, Raisen 462046, Madhya Pradesh
- Share registrar
- MCS Share Transfer Agent Ltd
- Keeps the register of shareholders and handles transfers and dividend payments
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