Last close ₹198.78down ₹6.89 (3.35%)BSE ₹198.75
Share price at the NSE close on 23 Oct 2026. Previous close ₹205.67.
52-week range of traded prices to 23 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.
- 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.
- ₹6,556 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.
- 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.
- 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.
- 0.61%
- 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.
- 7,18,41848.2% delivered
Results
Consolidated; ₹ crore, the charts by years to March, the table by quarter.Quarterly results
Quarter to Jun 2026, against the quarter beforeFiled 22 Jul
- 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.
- ₹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.
- 18.0%
Revenue by year
Peak revenue ₹6,593 Cr, year to Mar 2019
Net profit by year, a loss in red
- Net profit
- Loss
A loss in 2 of the 10 years shown
| ₹ crore | Sep 2024Filed 14 Nov | Dec 2024Filed 11 Feb | Mar 2025Filed 12 Jun | Jun 2025Filed 30 Jul | Sep 2025Filed 10 Nov | Dec 2025Filed 10 Feb | Mar 2026Filed 29 Apr | Jun 2026Filed 22 Jul |
|---|---|---|---|---|---|---|---|---|
| Revenue | 568 | 478 | 542 | 617 | 699 | 656 | 603 | 681 |
| Net profit | 82 | 83 | −74 | 105 | 143 | 207 | −114 | 122 |
| 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. | 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.
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. Not shown, EV/EBITDA: demerger, new accounts awaited.PE ratio and valuation history
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 40% of 2,447 trading days over the last 10 years.
LowestHighest
Its median1.07%Industry median0.72%
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 funds holding it
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.Mutual fund holdings
- 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.
- 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.
Peers and competitors
Electrodes & Refractories, 14 listed companies, priced on 23 Oct 2026. The table lists the 8 companies closest to HEG Advanced Materials in market cap.
HEG Advanced Materials is not on the chart: it has no P/E or return on equity today
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
 Graphite IndiaGRAPHITE | 13,462 | 63.2 | 2.3 | 153.1 | +21.3% | −40.7% | 3.6% | −0.1% | 1.02% |
 Vesuvius IndiaVESUVIUS | 7,989 | 31.2 | 4.6 | 20.8 | +8.9% | +2.2% | 15.7% | 16.4% | 0.38% |
 Raghav Productivity EnhancersRPEL | 7,495 | 106.3 | 26.6 | 79.7 | +38.2% | +55.0% | 28.4% | 30.4% | 0.06% |
 Rhi Magnesita IndiaRHIM | 7,254 | – | 2.0 | 15.5 | +8.5% | −314.4% | −9.4% | 7.2% | 0.71% |
 Monolithisch IndiaMONOLITH | 2,558 | 111.1 | 19.6 | – | – | – | 17.6% | – | 0.00% |
 IFGL RefractoriesIFGLEXPOR | 1,141 | 27.9 | 1.0 | 9.4 | +15.4% | +40.5% | 3.6% | 4.6% | 1.36% |
 Foseco Crucible (India)FOSECOC | 973 | 41.9 | 6.9 | 17.0 | +2.4% | −8.6% | 17.1% | 31.0% | 0.72% |
 Orient Ceratech Ltd-$ORIENTCER | 464 | 17.8 | 1.5 | 9.9 | +24.0% | +130.8% | 8.9% | 9.4% | 0.90% |
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.Dividend history and dates
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.Highest ₹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. | ₹3.40 |
| 13 Aug 2025 | 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. | ₹1.80 |
| 31 Jul 2024 | 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. | ₹22.50 |
| 24 Aug 2023 | 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. | ₹42.50 |
| 24 Aug 2022 | 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. | ₹40.00 |
| 19 Jul 2021 | 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. | ₹3.00 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Share news and announcements
Oct 2026
Sep 2026
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 last 10 trading days to 23 Oct 2026, as traded on NSE.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 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% |
| 13 Oct 2026 | 232.26 | 232.26 | 224.80 | 230.01 | 227.37 | 7,40,893 | 50.0% |
| 12 Oct 2026 | 236.77 | 238.48 | 229.40 | 231.29 | 232.80 | 7,24,058 | 52.4% |
| 9 Oct 2026 | 238.10 | 239.00 | 229.01 | 233.56 | 232.65 | 13,29,186 | 52.4% |
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.
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.
- Legal name
- HEG Advanced Materials Limited
- NSE symbol
- HEGAM
- BSE code
- 509631
- ISIN
- INE545A01024
- Industry
- Industrial Products
- Listed
- May 1976 on BSE, May 1995 on NSE
- Face value
- ₹2
- Former symbols
- HEG
- CIN
- L23109MP1972PLC008290
- Corporate identity number, the registrar of companies' code for it
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