HEG Ltd

HEG is engaged in a leading manufacturer and exporter of graphite electrodes in India and operates worlds largest single-site integrated graphite electrodes plant.(Source : 201903 Annual Report Page No: 124)

  • Market Cap: 3,304 Cr.
  • Current Price: 856.15
  • 52 weeks High / Low 1474.00 / 409.60
  • Book Value: 886.86
  • Stock P/E: 61.93
  • Dividend Yield: 9.34 %
  • ROCE: 143 %
  • ROE: 109 %
  • Sales Growth (3Yrs): 96.44 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
Edit ratios
Pros:
Stock is trading at 0.97 times its book value
Stock is providing a good dividend yield of 9.34%.
Company has good consistent profit growth of 96.11% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 80.96%
Debtor days have improved from 116.09 to 65.73 days.
Cons:
Company has low interest coverage ratio.
Earnings include an other income of Rs.143.76 Cr.
** Remarks:
Return on equity is exceptional

Peer comparison Sector: Capital Goods-Non Electrical Equipment // Industry: Electrodes - Graphites

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020
205 410 843 1,292 1,587 1,794 1,865 1,347 817 564 394 374
182 220 285 342 399 425 552 559 469 425 389 872
Operating Profit 23 190 558 951 1,188 1,369 1,313 788 348 139 5 -497
OPM % 11% 46% 66% 74% 75% 76% 70% 59% 43% 25% 1% -133%
1 3 5 4 8 20 37 42 39 35 27 42
Interest 13 13 13 18 2 5 4 6 9 10 9 9
Depreciation 18 18 19 18 18 18 19 18 18 18 18 19
Profit before tax -7 161 531 919 1,177 1,366 1,329 806 360 146 6 -483
Tax % -23% 29% 36% 31% 35% 35% 35% 35% 35% -22% -8% 24%
Net Profit -8 114 342 634 770 889 867 524 234 179 6 -366
EPS in Rs -2.11 28.44 85.62 158.66 192.77 222.45 216.93 131.39 60.73 46.39 1.54 -94.83
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
943 1,021 1,115 1,102 1,417 1,619 1,467 1,228 870 859 2,748 6,591 2,149
671 649 775 880 1,175 1,332 1,227 1,046 733 778 1,027 1,933 2,155
Operating Profit 272 372 340 222 242 287 240 182 137 81 1,721 4,658 -6
OPM % 29% 36% 30% 20% 17% 18% 16% 15% 16% 9% 63% 71% -0%
34 -98 13 25 -77 -35 2 15 4 7 12 109 144
Interest 54 67 59 22 41 64 72 77 60 55 56 18 37
Depreciation 45 46 51 57 58 63 73 75 79 74 73 72 72
Profit before tax 207 161 242 168 67 125 97 44 1 -41 1,605 4,677 29
Tax % 29% 34% 29% 23% 7% 16% 11% 12% 886% -23% 33% 35%
Net Profit 146 107 171 129 62 106 87 39 -8 -50 1,081 3,050 53
EPS in Rs 31.34 24.04 38.44 28.47 14.78 25.12 20.66 9.16 0.00 0.00 270.61 790.35 13.83
Dividend Payout % 30% 26% 25% 33% 32% 30% 28% 31% -0% -0% 30% 10%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:20.50%
5 Years:35.06%
3 Years:96.44%
TTM:-67.40%
Compounded Profit Growth
10 Years:32.00%
5 Years:96.11%
3 Years:586.73%
TTM:-98.25%
Stock Price CAGR
10 Years:9.93%
5 Years:33.63%
3 Years:26.05%
1 Year:-37.95%
Return on Equity
10 Years:44.27%
5 Years:59.38%
3 Years:80.96%
Last Year:109.24%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
44 43 43 43 40 40 40 40 40 40 40 39 39
Reserves 483 534 688 773 722 823 884 901 881 832 1,769 3,680 3,384
Borrowings 712 882 731 910 1,269 1,396 1,027 917 782 684 297 666 593
215 232 234 231 327 358 478 315 176 216 534 684 334
Total Liabilities 1,455 1,691 1,695 1,958 2,358 2,618 2,430 2,173 1,878 1,772 2,640 5,070 4,350
549 564 658 659 745 718 941 907 932 889 833 788 745
CWIP 56 134 58 79 128 215 119 108 27 1 2 19 101
Investments 30 84 67 102 69 70 98 150 153 150 149 867 1,156
819 909 912 1,118 1,416 1,615 1,273 1,009 767 732 1,656 3,396 2,348
Total Assets 1,455 1,691 1,695 1,958 2,358 2,618 2,430 2,173 1,878 1,772 2,640 5,070 4,350

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
89 67 304 38 27 115 773 276 249 157 594 1,488
41 -155 -49 -143 -165 -145 -294 -83 -29 -1 -9 -676
-191 51 -256 113 144 26 -482 -202 -219 -153 -588 -788
Net Cash Flow -60 -37 -2 7 6 -3 -3 -8 1 3 -3 24

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 21% 25% 21% 12% 11% 11% 9% 6% 3% 1% 91% 143%
Debtor Days 112 117 144 131 126 135 130 121 134 153 129 66
Inventory Turnover 1.62 1.13 1.42 1.32 1.43 1.47 1.44 1.55 1.15 1.62 1.67 1.43

Shareholding pattern in percentages

Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020
58.79 61.04 61.04 61.04 61.04 61.04 61.04 61.24 61.24 59.62 59.62 59.62
0.88 2.67 3.09 3.97 5.35 8.23 8.00 5.75 6.67 7.23 10.16 11.04
10.49 12.07 11.96 11.78 11.65 10.91 10.57 9.54 9.68 9.62 8.05 7.42
29.84 24.22 23.91 23.22 21.96 19.83 20.39 23.47 22.41 23.52 22.17 21.91