HEG (HEG) Stock Overview
Manufactures and sells graphite electrodes in India and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 4/6 |
| Past Performance | 5/6 |
| Financial Health | 5/6 |
| Dividends | 2/6 |
HEG Community Fair Values
Create NarrativeSee what 18 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
HEG Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | ₹526.30 |
| 52 Week High | ₹690.00 |
| 52 Week Low | ₹459.80 |
| Beta | 0.69 |
| 1 Month Change | -14.79% |
| 3 Month Change | 6.10% |
| 1 Year Change | 4.52% |
| 3 Year Change | 65.92% |
| 5 Year Change | 28.18% |
| Change since IPO | 4,960.58% |
Recent News & Updates
Narrative Update • Jun 02
HEG: Upcoming Results And Dividend Decision Will Drive Bullish Repricing
Analysts have kept their fair value estimate for HEG steady at ₹700, while making small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions, which together inform the latest price target update. What's in the News HEG has scheduled a board meeting for Apr 29, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and financial year ended Mar 31, 2026.Narrative Update • May 12
HEG: Upcoming Board Meeting And Dividend Decision Will Support Bullish Repricing
Analysts have kept the HEG price target steady at ₹700.0, citing updated assumptions that reflect a slightly lower discount rate, marginally higher revenue growth expectations, a small trim to profit margin, and a modestly reduced future P/E multiple. What's in the News Board meeting scheduled for Apr 29, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and financial year ended Mar 31, 2026 (company filing).Narrative Update • Apr 25
HEG: Upcoming Board Meeting And Dividend Outlook Will Shape Fairly Balanced Repricing
Analysts have adjusted the price target for HEG slightly lower from ₹705 to ₹700 as they factor in updated assumptions around the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News Board meeting scheduled for Apr 29, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and financial year ended Mar 31, 2026 (company filing).Narrative Update • Apr 07
HEG: Upcoming Board Meetings And Group Moves Will Support Bullish Repricing
Analysts have kept HEG's fair value estimate steady at ₹705. The latest update mainly reflects tweaks to inputs such as a slightly lower discount rate and a marginally reduced future P/E assumption, rather than a shift in the overall price target view.Recent updates
Narrative Update • Jun 02
HEG: Upcoming Results And Dividend Decision Will Drive Bullish Repricing
Analysts have kept their fair value estimate for HEG steady at ₹700, while making small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions, which together inform the latest price target update. What's in the News HEG has scheduled a board meeting for Apr 29, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and financial year ended Mar 31, 2026.Narrative Update • May 12
HEG: Upcoming Board Meeting And Dividend Decision Will Support Bullish Repricing
Analysts have kept the HEG price target steady at ₹700.0, citing updated assumptions that reflect a slightly lower discount rate, marginally higher revenue growth expectations, a small trim to profit margin, and a modestly reduced future P/E multiple. What's in the News Board meeting scheduled for Apr 29, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and financial year ended Mar 31, 2026 (company filing).Narrative Update • Apr 25
HEG: Upcoming Board Meeting And Dividend Outlook Will Shape Fairly Balanced Repricing
Analysts have adjusted the price target for HEG slightly lower from ₹705 to ₹700 as they factor in updated assumptions around the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News Board meeting scheduled for Apr 29, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and financial year ended Mar 31, 2026 (company filing).Narrative Update • Apr 07
HEG: Upcoming Board Meetings And Group Moves Will Support Bullish Repricing
Analysts have kept HEG's fair value estimate steady at ₹705. The latest update mainly reflects tweaks to inputs such as a slightly lower discount rate and a marginally reduced future P/E assumption, rather than a shift in the overall price target view.Narrative Update • Mar 22
HEG: Upcoming Board Meeting Will Signal Confidence In Group Reshaping
Analysts are maintaining their price target for HEG at ₹705, citing largely unchanged assumptions on fair value, revenue growth, profit margin, and forward P/E, despite minor adjustments to the discount rate and valuation inputs. What's in the News A board meeting is scheduled on Feb 10, 2026 at 14:00 IST to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).Narrative Update • Mar 08
HEG: Upcoming Board Meeting Will Support Bullish View On Group Reshaping
Analysts have raised their price target on HEG from ₹677.50 to ₹705.00, citing updated assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E multiples. What's in the News A board meeting is scheduled for Feb 10, 2026 at 14:00 IST to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (Key Developments).Narrative Update • Feb 21
HEG: Upcoming Board Meeting Will Support Bullish View On Fair Value
Analysts have kept their price target for HEG steady at ₹677.5, making small tweaks to inputs such as a slightly higher discount rate and P/E assumption, which are balanced against lower projected revenue growth and profit margins. What's in the News Board meeting scheduled on Feb 10, 2026 at 14:00 IST to review and approve unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (Key Developments).Narrative Update • Feb 07
HEG: Upcoming Board Meeting Will Reinforce Bullish View On Fair Value
Analysts have adjusted their price target for HEG to ₹677.5, a level supported by updated assumptions around the discount rate and future P/E, keeping their fair value view broadly unchanged. What's in the News HEG has scheduled a board meeting on Feb 10, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).Analysis Article • Jan 24
Is There Now An Opportunity In HEG Limited (NSE:HEG)?
While HEG Limited ( NSE:HEG ) might not have the largest market cap around , it saw significant share price movement...Narrative Update • Jan 24
HEG: Upcoming Results Review Will Support Bullish Outlook Despite Margin Reset
Analysts have lifted their price target for HEG to ₹677.5 from ₹652.5, citing updates to their fair value assumptions, discount rate, revenue growth, profit margin outlook, and future P/E expectations. What's in the News HEG has scheduled a board meeting on Feb 10, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).Narrative Update • Jan 07
HEG: Stable Outlook Will Balance Board Decisions And Margin Risks
Analysts have reaffirmed their price target for HEG at ₹652.5, as small tweaks to the discount rate and future P/E assumptions did not materially change their overall view on the stock. What's in the News A board meeting is scheduled on Nov 10, 2025 at 14:00 IST to consider and approve the unaudited standalone and consolidated financial results for the quarter and half year ended Sep 30, 2025 (company filing).Narrative Update • Dec 14
HEG: Higher Multiple Will Outweigh Margin Risks In Coming Years
Narrative Update on HEG Analysts have raised their price target on HEG from ₹590.00 to ₹652.50, reflecting a higher assumed future valuation multiple despite more conservative expectations for revenue growth and profit margins. What's in the News Board meeting scheduled for November 10, 2025, to consider and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (company filing) Proposal to subscribe to unsecured, unlisted, optionally convertible debentures of TACC Limited to be taken up at the November 10, 2025 board meeting (company filing) Board to consider sale of the stake held by wholly owned subsidiary Bhilwara Infotechnology Limited in Texnere India Private Limited at the November 10, 2025 meeting (company filing) Separate board meeting on September 23, 2025, to approve an unsecured loan of INR 2,100 million to associate company Bhilwara Energy Limited (company filing) Valuation Changes Fair Value: increased from ₹590.00 to ₹652.50, reflecting a moderate upward revision in intrinsic value.Analysis Article • Nov 14
These 4 Measures Indicate That HEG (NSE:HEG) Is Using Debt Safely
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...Analysis Article • Oct 30
The Price Is Right For HEG Limited (NSE:HEG)
With a price-to-earnings (or "P/E") ratio of 56.9x HEG Limited ( NSE:HEG ) may be sending very bearish signals at the...Analysis Article • Aug 29
Is It Too Late To Consider Buying HEG Limited (NSE:HEG)?
While HEG Limited ( NSE:HEG ) might not have the largest market cap around , it saw significant share price movement...Narrative Update • Aug 22
Decarbonization Policies And EAF Expansion Will Drive Demand
The consensus Analyst Price Target for HEG has increased to ₹590.00, reflecting a higher future P/E multiple despite a stable net profit margin. What's in the News Board approved expansion of Graphite Electrodes capacity by 15,000 TPA (current: 100,000 TPA; utilization: 85–90%) over 30 months with INR 6,500 million investment via internal accruals and debt if needed, citing structural industry changes and strong expected payback.Analysis Article • Aug 14
Here's Why Shareholders May Want To Be Cautious With Increasing HEG Limited's (NSE:HEG) CEO Pay Packet
Key Insights HEG's Annual General Meeting to take place on 20th of August Salary of ₹33.6m is part of CEO Ravi...Analysis Article • Jul 26
These 4 Measures Indicate That HEG (NSE:HEG) Is Using Debt Reasonably Well
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Jul 06
HEG's (NSE:HEG) Shareholders Will Receive A Smaller Dividend Than Last Year
HEG Limited's ( NSE:HEG ) dividend is being reduced from last year's payment covering the same period to ₹1.80 on the...Analysis Article • May 28
Some May Be Optimistic About HEG's (NSE:HEG) Earnings
Shareholders appeared unconcerned with HEG Limited's ( NSE:HEG ) lackluster earnings report last week. Our analysis...Analysis Article • Mar 26
Investors Appear Satisfied With HEG Limited's (NSE:HEG) Prospects As Shares Rocket 34%
Those holding HEG Limited ( NSE:HEG ) shares would be relieved that the share price has rebounded 34% in the last...Analysis Article • Mar 06
Here's Why HEG (NSE:HEG) Has A Meaningful Debt Burden
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
New Narrative • Feb 11
Will Capitalize On Global Shift To Electric Arc Furnaces By 2030
HEG's expansion and capacity utilization position it to benefit from increasing global demand, potentially enhancing revenue and margins.Analysis Article • Jan 10
Why HEG Limited (NSE:HEG) Could Be Worth Watching
HEG Limited ( NSE:HEG ), is not the largest company out there, but it saw a decent share price growth of 15% on the...Analysis Article • Dec 05
HEG Limited's (NSE:HEG) P/E Is Still On The Mark Following 35% Share Price Bounce
Despite an already strong run, HEG Limited ( NSE:HEG ) shares have been powering on, with a gain of 35% in the last...Analysis Article • Dec 03
HEG (NSE:HEG) Has A Somewhat Strained Balance Sheet
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Oct 08
Getting In Cheap On HEG Limited (NSE:HEG) Might Be Difficult
When close to half the companies in India have price-to-earnings ratios (or "P/E's") below 33x, you may consider HEG...Analysis Article • Sep 17
Is It Too Late To Consider Buying HEG Limited (NSE:HEG)?
HEG Limited ( NSE:HEG ), might not be a large cap stock, but it received a lot of attention from a substantial price...Analysis Article • Jul 05
Weak Statutory Earnings May Not Tell The Whole Story For HEG (NSE:HEG)
HEG Limited's ( NSE:HEG ) recent weak earnings report didn't cause a big stock movement. We think that investors are...Analysis Article • Jun 12
HEG (NSE:HEG) Takes On Some Risk With Its Use Of Debt
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...Analysis Article • Apr 30
Is Now The Time To Look At Buying HEG Limited (NSE:HEG)?
HEG Limited ( NSE:HEG ), is not the largest company out there, but it received a lot of attention from a substantial...Analysis Article • Apr 03
There's No Escaping HEG Limited's (NSE:HEG) Muted Earnings Despite A 25% Share Price Rise
HEG Limited ( NSE:HEG ) shareholders would be excited to see that the share price has had a great month, posting a 25...Analysis Article • Dec 28
Market Still Lacking Some Conviction On HEG Limited (NSE:HEG)
HEG Limited's ( NSE:HEG ) price-to-earnings (or "P/E") ratio of 16.6x might make it look like a buy right now compared...Analysis Article • Aug 16
HEG (NSE:HEG) Is Increasing Its Dividend To ₹42.50
HEG Limited's ( NSE:HEG ) dividend will be increasing from last year's payment of the same period to ₹42.50 on 30th of...Analysis Article • Aug 02
HEG (NSE:HEG) Is Paying Out A Larger Dividend Than Last Year
The board of HEG Limited ( NSE:HEG ) has announced that it will be paying its dividend of ₹42.50 on the 30th of...Shareholder Returns
| HEG | IN Electrical | IN Market | |
|---|---|---|---|
| 7D | -2.4% | -2.8% | 0.05% |
| 1Y | 4.5% | 27.5% | -2.0% |
Return vs Industry: HEG underperformed the Indian Electrical industry which returned 27.5% over the past year.
Return vs Market: HEG exceeded the Indian Market which returned -2% over the past year.
Price Volatility
| HEG volatility | |
|---|---|
| HEG Average Weekly Movement | 7.1% |
| Electrical Industry Average Movement | 8.2% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in IN Market | 10.2% |
| 10% least volatile stocks in IN Market | 4.7% |
Stable Share Price: HEG has not had significant price volatility in the past 3 months compared to the Indian market.
Volatility Over Time: HEG's weekly volatility (7%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1972 | 1,114 | Ravi Jhunjhunwala | www.hegltd.com |
HEG Limited manufactures and sells graphite electrodes in India and internationally. The company operates through two segments, Graphite Electrodes and Power Generation segments. It provides ultra-high power and high power electrodes; graphite electrodes and nipples; blocks and rounds; graphite and carbon specialties; mini-rods; flux and heat exchanger tubes; custom machined components; and activated carbon fabric products.
HEG Limited Fundamentals Summary
| HEG fundamental statistics | |
|---|---|
| Market cap | ₹101.56b |
| Earnings (TTM) | ₹3.38b |
| Revenue (TTM) | ₹27.09b |
30.1x
P/E Ratio3.7x
P/S RatioIs HEG overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| HEG income statement (TTM) | |
|---|---|
| Revenue | ₹27.09b |
| Cost of Revenue | ₹14.33b |
| Gross Profit | ₹12.77b |
| Other Expenses | ₹9.39b |
| Earnings | ₹3.38b |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 17.51 |
| Gross Margin | 47.11% |
| Net Profit Margin | 12.47% |
| Debt/Equity Ratio | 16.7% |
How did HEG perform over the long term?
See historical performance and comparisonDividends
0.6%
Current Dividend Yield19%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/13 20:41 |
| End of Day Share Price | 2026/06/12 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2026/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
HEG Limited is covered by 10 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Pramod Tiwari | 360 ONE Capital Market Private Limited |
| Rajesh Zawar | Anand Rathi Shares and Stock Brokers Limited |
| Paul Robert Dewberry | BofA Global Research |