HEG ADVANCED MATERIAL LTD (HEGAM) financials

HEG ADVANCED MATERIAL LTD (HEGAM) NSE/BSE financials on Fincrux: quarterly results, profit and loss, cash flow, balance sheet, ratios, and shareholding.

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]

Market Cap: ₹7,836Cr.
Current Price: ₹238
Stock P/E: 34.1
ROE: 4.50%
ROCE: 6.04%
Book Value: ₹100
Dividend Yield: 1.43%
52W High / Low: ₹278/172

In Sep 2026, HEG ADVANCED MATERIAL LTD (HEGAM) reported sales ₹740 Cr and net profit ₹157 Cr.

Annual TTM: sales ₹2,680 Cr, net profit ₹230 Cr.

Shareholding: Promoters 60.72% (Sep 2026), FIIs 3.61% (Sep 2026), DIIs 12.96% (Sep 2026), Public 22.69% (Sep 2026), No. of Shareholders 1,50,544% (Sep 2026).

HEGAM quarterly results (₹ Cr.)
Category	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	477	537	613	697	656	603	681	740
Expenses	397	585	507	578	513	746	531	550
Operating Profit	80	-49	106	119	143	-142	150	191
OPM %	17%	-9%	17%	17%	22%	-24%	22%	26%
Other Income	113	44	48	95	101	17	37	63
Interest	9	12	8	9	9	11	10	11
Depreciation	51	55	53	54	54	53	49	50
Profit before tax	134	-72	92	151	180	-189	127	192
Tax %	26%	-14%	22%	20%	22%	-14%	25%	19%
Net Profit	98	-62	72	121	141	-163	95	157
EPS in Rs	5.09	-3.20	3.72	6.25	7.32	-8.46	4.93	4.75
Raw PDF	—	—	—	—	—	—	—	—

HEGAM profit and loss (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	2,145	1,254	2,201	2,463	2,393	2,151	2,568	2,680
Expenses	2,150	1,308	1,670	1,843	2,009	1,830	2,150	2,339
Operating Profit	-5	-53	530	620	384	321	419	341
OPM %	-0.2%	-4.2%	24%	25%	16%	15%	16%	13%
Other Income	143	107	77	109	142	67	78	217
Interest	37	11	7	26	36	39	37	41
Depreciation	72	73	79	102	175	201	213	206
Profit before tax	29	-31	520	600	315	148	246	311
Tax %	-82%	-18%	25%	24%	27%	31%	27%	—
Net Profit	53	-25	391	456	232	101	181	230
EPS in Rs	2.77	-1.31	20.24	23.60	12.00	5.25	9.36	8.54
Dividend Payout %	181%	-46%	40%	36%	38%	34%	36%	—

HEGAM balance sheet (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	39	39	39	39	39	39	39	39
Reserves	3,384	3,360	3,738	4,039	4,106	4,121	4,265	3,269
Borrowings	594	298	665	743	621	586	794	711
Other Liabilities	332	451	730	668	651	600	596	680
Total Liabilities	4,350	4,148	5,171	5,488	5,417	5,346	5,694	4,699
Fixed Assets	745	694	763	1,363	1,782	1,901	1,748	1,672
CWIP	101	373	696	472	194	21	44	87
Investments	1,156	1,261	1,034	664	996	1,231	1,637	761
Other Assets	2,348	1,819	2,678	2,989	2,444	2,192	2,265	2,179
Total Assets	4,350	4,148	5,171	5,488	5,417	5,346	5,694	4,699

HEGAM cash flows (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	1,488	739	716	-141	114	615	319	355
Cash from Investing Activity	-676	-275	-417	-183	-31	-205	-246	-453
Cash from Financing Activity	-788	-460	-310	344	-100	-324	-159	97
Net Cash Flow	24	4	-11	20	-17	86	-86	-2
Free Cash Flow	1,441	503	460	-499	-363	296	143	239
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	67%	-17,020%	-1,349%	-2%	42%	169%	114%	90%

HEGAM shareholding pattern (%)
Category	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%	3.61%
DIIs	12.09%	11.65%	11.60%	11.99%	12.15%	8.63%	9.27%	12.96%
Public	25.04%	25.38%	25.33%	24.27%	23.20%	24.86%	25.97%	22.69%
No. of Shareholders	1,52,166	1,53,063	1,48,036	1,41,576	1,32,314	1,37,675	1,39,601	1,50,544

HEGAM key ratios
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	66	68	84	98	72	78	75	71
Inventory Days	428	226	262	431	574	379	507	389
Days Payable	124	30	116	197	164	135	161	133
Cash Conversion Cycle	370	264	230	331	483	321	420	327
Working Capital Days	86	235	93	75	107	111	139	110
ROCE %	143%	-0%	-0%	13%	14%	7%	5%	6%

HEGAMUpdated 1 Nov 2026, 18:47

Heg Advanced Material Ltd

HEGAMUpdated 1 Nov 2026, 18:47

Market Cap

₹7,836Cr.

Current Price

₹238

High / Low

₹278/172

Stock P/E

34.1

ROE4.50%

ROCE6.04%

Book Value₹100

Face Value₹2.00

Dividend Yield1.43%

About

Quarterly results

Last reported quarters₹ Cr.

Quarter	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Sep 2023	614	9	512	28	38	83	26	62	3.2
Dec 2023	562	10	476	23	47	53	30	37	1.92
Mar 2024	547	9	504	64	50	49	28	35	1.82
Jun 2024	571	8	533	20	48	3	21	3	0.13
Sep 2024	568	9	471	43	48	82	25	62	3.22
Dec 2024	477	9	397	113	51	134	26	98	5.09
Mar 2025	537	12	585	44	55	-72	-14	-62	-3.2
Jun 2025	613	8	507	48	53	92	22	72	3.72
Sep 2025	697	9	578	95	54	151	20	121	6.25
Dec 2025	656	9	513	101	54	180	22	141	7.32
Mar 2026	603	11	746	17	53	-189	-14	-163	-8.46
Jun 2026	681	10	531	37	49	127	25	95	4.93
Sep 2026	740	11	550	63	50	192	19	157	4.75

Profit & loss

Annual statement₹ Cr.

Year	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Mar 2015	1228	77	1046	15	75	44	12	39	1.95
Mar 2016	870	60	733	4	79	1	886	-8	-0.38
Mar 2017	859	55	778	7	74	-41	23	-50	-2.5
Mar 2018	2748	56	1027	12	73	1605	33	1081	54.07
Mar 2019	6591	18	1930	106	72	4677	35	3050	158.05
Mar 2020	2145	37	2150	143	72	29	-82	53	2.77
Mar 2021	1254	11	1308	107	73	-31	-18	-25	-1.31
Mar 2022	2201	7	1670	77	79	520	25	391	20.24
Mar 2023	2463	26	1843	109	102	600	24	456	23.6
Mar 2024	2393	36	2009	142	175	315	27	232	12
Mar 2025	2151	39	1830	67	201	148	31	101	5.25
Mar 2026	2568	37	2150	78	213	246	27	181	9.36
TTM	2680	41	2339	217	206	311	—	230	8.54

Shareholding pattern

As of Sep 2026%

Holder	Share
Promoters	60.72%
FIIs	3.61%
DIIs	12.96%
Public	22.69%

Shareholding trend

Ownership over time%

Quarter	Promoters	FIIs	DIIs	Public
Dec 2023	55.77%	6.85%	8.85%	28.51%
Mar 2024	55.77%	6.86%	10.38%	26.98%
Jun 2024	55.77%	6.06%	13.08%	25.08%
Sep 2024	55.77%	6.93%	12.79%	24.51%
Dec 2024	55.77%	7.07%	12.09%	25.04%
Mar 2025	55.77%	7.18%	11.65%	25.38%
Jun 2025	55.77%	7.29%	11.6%	25.33%
Sep 2025	55.77%	7.97%	11.99%	24.27%
Dec 2025	56.13%	8.52%	12.15%	23.2%
Mar 2026	56.27%	10.23%	8.63%	24.86%
Jun 2026	56.27%	8.47%	9.27%	25.97%
Sep 2026	60.72%	3.61%	12.96%	22.69%

Balance sheet

Assets & liabilities₹ Cr.

Period	Equity Capital	Reserves	Borrowings	Other Liabilities	Total Liabilities	Fixed Assets	CWIP	Investments	Other Assets	Total Assets
Mar 2015	40	901	917	315	2173	907	108	150	1009	2173
Mar 2016	40	881	782	176	1878	932	27	153	767	1878
Mar 2017	40	832	684	216	1772	889	1	150	732	1772
Mar 2018	40	1769	297	534	2640	833	2	149	1656	2640
Mar 2019	39	3680	667	684	5070	788	19	867	3396	5070
Mar 2020	39	3384	594	332	4350	745	101	1156	2348	4350
Mar 2021	39	3360	298	451	4148	694	373	1261	1819	4148
Mar 2022	39	3738	665	730	5171	763	696	1034	2678	5171
Mar 2023	39	4039	743	668	5488	1363	472	664	2989	5488
Mar 2024	39	4106	621	651	5417	1782	194	996	2444	5417
Mar 2025	39	4121	586	600	5346	1901	21	1231	2192	5346
Mar 2026	39	4265	794	596	5694	1748	44	1637	2265	5694
Sep 2026	39	3269	711	680	4699	1672	87	761	2179	4699

Cash flows

Operating, investing & financing₹ Cr.

Period	Operating	Investing	Financing	Net cash flow
Mar 2015	276	-83	-202	-8
Mar 2016	249	-29	-219	1
Mar 2017	157	-1	-153	3
Mar 2018	594	-9	-588	-3
Mar 2019	1488	-676	-788	24
Mar 2020	739	-275	-460	4
Mar 2021	716	-417	-310	-11
Mar 2022	-141	-183	344	20
Mar 2023	114	-31	-100	-17
Mar 2024	615	-205	-324	86
Mar 2025	319	-246	-159	-86
Mar 2026	355	-453	97	-2

Key ratios

Historical financial ratios

Category	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	121	134	153	129	66	68	84	98	72	78	75	71
Inventory Days	238	342	216	391	428	226	262	431	574	379	507	389
Days Payable	76	48	73	188	124	30	116	197	164	135	161	133
Cash Conversion Cycle	282	428	297	332	370	264	230	331	483	321	420	327
Working Capital Days	13	-7	-3	120	86	235	93	75	107	111	139	110
ROCE %	6%	3%	1%	91%	143%	-0%	-0%	13%	14%	7%	5%	6%

Frequently asked questions

Quick answers about this company's financials on Fincrux

What is the market cap of HEG ADVANCED MATERIAL LTD (HEGAM)?

The reported market capitalisation for HEG ADVANCED MATERIAL LTD (HEGAM) is ₹7,836Cr. on Fincrux. Figures may update with market data and filings.

What is the current share price of HEGAM?

The current price shown for HEG ADVANCED MATERIAL LTD (HEGAM) on Fincrux is ₹238 with a 52-week high/low of ₹278/172.

What is the P/E ratio of HEG ADVANCED MATERIAL LTD (HEGAM)?

The stock P/E for HEG ADVANCED MATERIAL LTD (HEGAM) is 34.1 on Fincrux, with ROE at 4.50% and ROCE at 6.04%.

What were HEGAM latest quarterly results?

For Sep 2026, HEG ADVANCED MATERIAL LTD (HEGAM) reported sales ₹740 Cr and net profit ₹157 Cr (figures in ₹ crore unless noted).

What are HEGAM annual sales and net profit?

For TTM, HEG ADVANCED MATERIAL LTD (HEGAM) shows sales of ₹2,680 Cr and net profit of ₹230 Cr on the Fincrux profit & loss statement.

Who owns HEG ADVANCED MATERIAL LTD (HEGAM)?

Latest shareholding for HEG ADVANCED MATERIAL LTD (HEGAM) on Fincrux: Promoters 60.72% (Sep 2026), FIIs 3.61% (Sep 2026), DIIs 12.96% (Sep 2026), Public 22.69% (Sep 2026), No. of Shareholders 1,50,544% (Sep 2026).

Where can I find HEG ADVANCED MATERIAL LTD (HEGAM) financials?

HEG ADVANCED MATERIAL LTD (HEGAM) financials on Fincrux include quarterly results, profit and loss, cash flow, balance sheet, key ratios, and shareholding patterns for NSE/BSE research.

Does Fincrux show HEGAM balance sheet and cash flow?

Yes. The HEG ADVANCED MATERIAL LTD (HEGAM) page on Fincrux includes balance sheet, cash flow statements, historical ratios, and ownership trends alongside quarterly and annual results.

Figures in ₹ crore unless noted. Data sourced for research and may lag filings.

Last updated 1 November 2026 at 18:47