HEG Ltd
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 ₹ 6,258 Cr.
- Current Price ₹ 1,622
- High / Low ₹ 1,914 / 918
- Stock P/E 14.2
- Book Value ₹ 1,127
- Dividend Yield 2.62 %
- ROCE 14.7 %
- ROE 13.0 %
- Face Value ₹ 10.0
Pros
Cons
- The company has delivered a poor sales growth of -2.17% over past five years.
- Company has a low return on equity of 7.90% over last 3 years.
- Promoter holding has decreased over last 3 years: -3.84%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Capital Goods-Non Electrical Equipment Industry: Electrodes - Graphites
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,417 | 1,619 | 1,440 | 1,228 | 870 | 859 | 2,748 | 6,591 | 2,145 | 1,254 | 2,201 | 2,463 | 2,433 | |
1,175 | 1,326 | 1,193 | 1,046 | 733 | 778 | 1,027 | 1,930 | 2,150 | 1,308 | 1,670 | 1,844 | 1,924 | |
Operating Profit | 242 | 293 | 247 | 182 | 137 | 81 | 1,721 | 4,662 | -5 | -53 | 530 | 619 | 509 |
OPM % | 17% | 18% | 17% | 15% | 16% | 9% | 63% | 71% | -0% | -4% | 24% | 25% | 21% |
-77 | -42 | -4 | 15 | 4 | 7 | 12 | 106 | 143 | 114 | 117 | 187 | 122 | |
Interest | 41 | 64 | 72 | 77 | 60 | 55 | 56 | 18 | 37 | 11 | 7 | 26 | 32 |
Depreciation | 58 | 63 | 73 | 75 | 79 | 74 | 73 | 72 | 72 | 73 | 79 | 102 | 135 |
Profit before tax | 67 | 125 | 97 | 44 | 1 | -41 | 1,605 | 4,677 | 29 | -23 | 560 | 677 | 464 |
Tax % | 7% | 16% | 11% | 12% | 886% | -23% | 33% | 35% | -82% | 23% | 23% | 21% | |
57 | 100 | 81 | 36 | 4 | -44 | 1,099 | 3,026 | 68 | -18 | 431 | 532 | 440 | |
EPS in Rs | 14.32 | 25.13 | 20.20 | 9.12 | 1.10 | -11.03 | 275.12 | 784.07 | 17.52 | -4.65 | 111.68 | 137.95 | 113.88 |
Dividend Payout % | 35% | 32% | 30% | 33% | -0% | -0% | 29% | 10% | 143% | -65% | 36% | 31% |
Compounded Sales Growth | |
---|---|
10 Years: | 4% |
5 Years: | -2% |
3 Years: | 5% |
TTM: | -6% |
Compounded Profit Growth | |
---|---|
10 Years: | 13% |
5 Years: | -13% |
3 Years: | 385% |
TTM: | -23% |
Stock Price CAGR | |
---|---|
10 Years: | 24% |
5 Years: | -17% |
3 Years: | 26% |
1 Year: | 52% |
Return on Equity | |
---|---|
10 Years: | 22% |
5 Years: | 22% |
3 Years: | 8% |
Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 39 | 39 | 39 | 39 | 39 | 39 |
Reserves | 809 | 905 | 960 | 974 | 956 | 913 | 1,868 | 3,755 | 3,473 | 3,456 | 3,875 | 4,242 | 4,310 |
1,269 | 1,396 | 1,027 | 917 | 782 | 684 | 297 | 667 | 594 | 298 | 665 | 743 | 686 | |
327 | 358 | 478 | 315 | 176 | 216 | 534 | 684 | 332 | 451 | 730 | 668 | 643 | |
Total Liabilities | 2,446 | 2,700 | 2,506 | 2,246 | 1,953 | 1,853 | 2,739 | 5,144 | 4,438 | 4,244 | 5,308 | 5,692 | 5,678 |
745 | 718 | 941 | 907 | 932 | 889 | 833 | 788 | 745 | 694 | 763 | 1,363 | 1,773 | |
CWIP | 128 | 215 | 119 | 108 | 27 | 1 | 2 | 19 | 101 | 373 | 696 | 472 | 188 |
Investments | 156 | 152 | 174 | 223 | 227 | 231 | 248 | 942 | 1,245 | 1,358 | 1,171 | 859 | 1,111 |
1,416 | 1,615 | 1,273 | 1,009 | 767 | 732 | 1,656 | 3,396 | 2,348 | 1,819 | 2,678 | 2,998 | 2,605 | |
Total Assets | 2,446 | 2,700 | 2,506 | 2,246 | 1,953 | 1,853 | 2,739 | 5,144 | 4,438 | 4,244 | 5,308 | 5,692 | 5,678 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
27 | 115 | 773 | 276 | 249 | 157 | 594 | 1,488 | 739 | 716 | -141 | 113 | |
-165 | -145 | -294 | -83 | -29 | -1 | -9 | -676 | -275 | -417 | -183 | -21 | |
144 | 26 | -482 | -202 | -219 | -153 | -588 | -788 | -460 | -310 | 344 | -100 | |
Net Cash Flow | 6 | -3 | -3 | -8 | 1 | 3 | -3 | 24 | 4 | -11 | 20 | -8 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 126 | 135 | 133 | 121 | 134 | 153 | 129 | 66 | 68 | 84 | 98 | 72 |
Inventory Days | 323 | 282 | 256 | 238 | 342 | 216 | 391 | 428 | 226 | 262 | 431 | 574 |
Days Payable | 54 | 62 | 119 | 76 | 48 | 73 | 188 | 124 | 30 | 116 | 197 | 164 |
Cash Conversion Cycle | 396 | 355 | 270 | 282 | 428 | 297 | 332 | 370 | 264 | 230 | 331 | 483 |
Working Capital Days | 240 | 227 | 151 | 184 | 212 | 172 | 159 | 123 | 235 | 180 | 185 | 217 |
ROCE % | 10% | 11% | 9% | 6% | 3% | 1% | 86% | 139% | -0% | -2% | 14% | 15% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Nov
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 20 Nov
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 16 Nov
- Announcement under Regulation 30 (LODR)-Investor Presentation 15 Nov
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Nov
Annual reports
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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Product Offerings
The company offers various grades of graphite electrodes such as ultra-high power (UHP), high power (SHP), and Regular power (HP) electrodes of various different lengths and diameters. Its expertise lies in Graphite Electrodes, Power Division, and Carbon Specialty products.[1]