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HEG Ltd . Mid Cap

BSE: 509631 | NSE: HEG
Capital Goods-Non Electrical Equipment
Live
20/04/2021 4:00:00 PM
2044.10 44.10   (2.20%)
BSE: price shown with 5 mins delayed.
Prev. Close 2000.00
Open Price 2060.00
Volume Traded 49445.00

Fundamentals

Mar'11 Mar'12 Mar'13 Mar'14 Mar'15 Mar'16 Mar'17 Mar'18 Mar'19 Mar'20
Ajusted EPS(Rs.) 28.47 14.78 25.12 20.66 9.16 0 0 270.61 790.35 13.83
Net Sales (Rs. Cr.) 1113.65 1424.61 1622.61 1466.81 1233.07 869.5 860.04 2750.06 6592.83 2149.02
Adjusted Net Profit 130.4 149.13 159.55 104.09 36.33 -9.37999999999999 -49.68 1079.14 3019.05 -18.99
Book Value/ Share(Rs.) 212.47 212.56 236.51 250.24 253.76 249.22 238.38 477.36 982.92 909.87
Cash Flow 7.29 6.19 -3.36 -2.60 -7.96 1.05 3.13 -3.07 23.98 3.65
Debt to Cash Flow from Operations 24.22 46.90 12.12 1.33 3.32 3.14 4.35 0.50 0.45 0.69
RONW 14.79 16.95 18.63 11.17 4.02 -0.97 -5.14 75.62 107.01 -0.52
ROCE % 11.19 10.20 11.12 8.82 6.24 3.38 0.81 86.23 140.62 -0.15
Net Operating Profit Margin % 19.82 15.05 14.66 12.65 9.49 8.86 3.70 60.81 72.04 1.35
Net Profit Margin % 11.34 10.27 9.63 6.94 3.09 -1.03 -5.58 39.20 46.27 -0.88
Debt / Equity 0.94 1.24 1.56 1.30 1.00 0.88 0.75 0.34 0.17 0.17
Dividend Yield % 4.71 2.33 4.68 2.98 1.38 0.00 0.00 1.81 8.90 1.22
Mar'11 Mar'12 Mar'13 Mar'14 Mar'15 Mar'16 Mar'17 Mar'18 Mar'19 Mar'20
Ajusted EPS(Rs.) 28.47 14.78 25.12 20.66 9.16 0 0 270.61 790.35 13.83
Net Sales (Rs. Cr.) 1113.65 1424.61 1622.61 1466.81 1233.07 869.5 860.04 2750.06 6592.83 2149.02
Adjusted Net Profit 130.40 138.96 153.71 104.09 36.33 -9.38 -49.62 1079.14 3019.05 -18.99
Book Value/ Share(Rs.) 190.51 190.75 216.04 231.25 235.42 230.48 218.17 452.61 963.57 886.85
Cash Flow 7.29 6.20 -3.36 -2.60 -7.96 1.06 3.13 -3.07 23.98 3.65
Debt to Cash Flow from Operations 24.22 46.88 12.12 1.33 3.32 3.14 4.35 0.50 0.45 0.69
RONW 0.00 0.00 18.91 11.65 4.18 -1.01 -5.59 80.68 110.37 -0.53
ROCE % 11.87 10.69 11.06 8.98 6.36 3.45 0.85 90.44 144.37 -0.16
Net Operating Profit Margin % 19.82 15.05 14.30 12.65 9.49 8.86 3.69 60.81 72.04 1.35
Net Profit Margin % 11.34 9.57 9.28 6.94 3.09 -1.03 -5.59 39.20 46.27 -0.88
Debt / Equity 1.06 1.38 1.64 1.36 1.04 0.91 0.82 0.37 0.17 0.18
Dividend Yield % 4.71 2.33 4.68 2.98 1.38 0.00 0.00 4.82 8.90 1.22

Year on Year Growth Rate (%)

Ajusted EPS Sales Adjusted Net Profit

Latest Financials

Standalone Consolidated
TTM EPS (Rs) 0 0
TTM Sales (Rs. Cr.) 1250.2 1250.2
BVPS (Rs.) 881.04 909.76
Reserves (Rs. Cr.) 3361.81 3472.67
P/BV 2.32 2.25
PE NM NM
From the Market
52 Week High / Low (Rs) 2564/659.15
All Time High / Low (Rs) 4559.8/7.5
Volume Traded 49445
Market Cap (Rs. Cr.) 7889.31
Equity (Rs. Cr.) 38.595506
Face Value (Rs) 10
Industry PE 0

Quarterly Results

Mar'2020 Jun'2020 Sep'2020 Dec'2020
Net Sales (Cr) 374.44 233.29 322.88 319.59
Adjusted EPS (Rs) -94.82 2.79 -8.78 1.21
Net Profit Margin % -97.75 4.61 -10.50 1.46
Mar'2020 Jun'2020 Sep'2020 Dec'2020
Net Sales (Cr) 374.44 233.29 322.88 319.59
Adjusted EPS (Rs) -97.66 3.71 -3.98 -0.21
Net Profit Margin % -100.67 6.14 -4.76 -0.25

Quarterly Growth Rate (%)

Ajusted EPS Sales Net Profit Margin

Peers Data

Name Current Price(Rs) Market Cap. (Rs. cr.) Net Profit(Rs. cr.) Sales Growth(%)
International Combustion (India) Ltd 167.4 40.01 -1.87 -43.10
Batliboi Ltd 17.45 50.11 -7.53 -43.06
Elecon Engineering Company Ltd 75.4 845.99 0 -37.41
Greaves Cotton Ltd 129 2982.57 0 -52.11
Elgi Equipments Ltd 219.5 6956.15 0 -34.56
HEG Ltd 2044.1 7889.31 53.37 -59.25
Grindwell Norton Ltd 893.5 9892.83 182.95 -27.45
Graphite India Ltd 639.05 12485.48 31.33 -55.62
Thermax Ltd 1323.3 15767.95 213.99 -36.35
Cummins India Ltd 833.45 23103.23 629.34 -40.23
Hindustan Aeronautics Ltd 968.6 32388.77 2832.36 -69.27

Technical

Sector

19973.18 175.47   (0.89%)

Index

47705.80 -243.62   (-0.51%)
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About Company

HEG Limited, incorporated in 1972, is a leading manufacturer and exporter of graphite electrodes in India and operates world's largest single-site integrated graphite electrodes plant at Mandideep in Madhya Pradesh. The company also operates three power generation facilities with a total rated capacity of about 76.5 MW. The power generation primarily fuels the graphite electrode manufacturing operations, with the surplus being sold in the open market. The company produces two grades of graphite electrodes, High Power and Ultra High Power, which are manufactured according to the customers' needs and requirements. The company is a major exported of graphite electrode, with a number of respected steel manufactures, namely ArcelorMittal, POSCO, Thyssenkrupp, US Steel, Nucor and Usinor in their customer base.HEG Ltd (earlier known as Hindustan Electro-Graphites Ltd) was incorporated in the year 1977. The company is a premier company of the LNJ Bhilwara group. They started as an importer of electrodes and latter turned to production of Graphite electrodes with financial and technical assistance from La Societe Des Electrodes Et Refractories Savoi, a subsidiary of Pechiney, France.In the year 1992, the company and Rajasthan Spinning & Weaving Mills Ltd jointly promoted a 100% export oriented unit for cotton mills went into production. During the year 1995-96, the company completed the 9216 spindles and modernization of Rishabhdev unit with Autocover at a total cost of Rs 33 crore. During the year 1996-97, the company expanded the graphite division to the total capacity of 24000 tons. They commissioned the 13.5 MW Tawa hydroelectric power plant, the first hydroelectric project by private sector in the state of Madhya Pradesh. Also, they commissioned the 12.8 MW co-generation power unit during the year.During the year 1998-99, Rishabhdev unit successfully commissioned a 4.2 MW Wartsaila Generating set for captive consumption of the Textile Division. During the year 2000-01, the company exited from the telecom sector, which was a joint venture with Motorola as the same was not germane to the existing businesses.During the year 2001-02, the company expanded the installed capacity of Graphite Electrodes to 30000 MT per annum at a cost of Rs 47 crore and they discontinues the operations at their textile unit in Jammu as the unit became unviable during the year 2002-03.The company de-merged the textile business located at Rishabhdev in Rajasthan with effect from April 1, 2003, which was merged with the Rajasthan Spinning & Weaving Mills Ltd. They set up a new kiln with an additional capacity if 30000 MTPA for Sponge Iron during the year 2003-04.During the year 2004-05, the company increased the production capacity of Graphite Electrodes at Mandideep from 30000 to 52000 MT per annum. Also they commissioned a new 25 MW Captive Power Plant at Mandideep. The company entered into a joint venture with Statkraft Norfund Invest AS (SN Power), Norway for setting up Hydro Power Generation projects in India. Also, they added another prestigious partner, International Finance Corporation, Washington, as Equity Holders in the AD Hydro Power Project.During the year 2005-06, the company acquired Jaipur Polyspin Ltd to manufacture Synthetic dyed Blended Yarn. Also, they acquired an open-end plant with 1680 rotors from Phillipines. The company introduced ready-to-wear Apparels, manufactured at a newly set up unit in Bangalore. Also, they commissioned Hydro Electric Project in Malana.In April 2007, the company made an investment of Rs 35 crore towards de-bottleneckingin the graphite electrode plant. In July 2007, the company sold their fully integrated steel business, which includes sponge iron, steel billets and a 13MW waste heat recovery power system power plant to Jai Balaji Industries Ltd of Kolkata.HEG Ltd ramped up production during the later part of the financial year 2013-14 to fulfill customer's delivery commitments. During the year under review, the company widened its raw material supplier base, optimised its power consumption, improved operational efficiencies and achieved new customer approvals.FY 2015 was one of the most challenging years for HEG Ltd as the graphite electrode industry saw erosion in margins. During the year under review, HEG Ltd took major initiatives to usher in qualitative improvement. A keen emphasis was laid on optimising costs across all operational and commercial areas. The company's focus on reducing working capital continued to show improvements in the level of plant inventories, receivables and other current assets, thereby releasing cash for productive purposes. During the financial year ended 31 March 2016, HEG Ltd focused on improving operating and cost parameters to counter the impact of fall in graphite electrode prices. By reformulating its operational management discipline and undertaking several cost-cutting measures HEG Ltd was able to reduce the impact of declining profit margins. Reduced capacity utilisation as a result of reduced demand, provided the time and space to the management to figure out ways and means to efficiently utilise the capacities at its disposal. New recipes for both electrodes and nipples were introduced for better quality. A keen emphasis was laid on optimising costs across all operational and commercial areas. The company's effort to match reduced levels of capacity utilisation with corresponding reduction in working capital paid off.HEG's thermal plant continued to operate at significantly reduced levels during the year. The company continued to optimise coal consumption and usage of power.The Board of Directors of HEG Ltd at its meeting held on 30 May 2017 accorded its in-principle approval for closure of its wholly owned subsidiary i.e. HEG Graphite Products and Services Limited. This wholly owned subsidiary was incorporated in the year 2009 but never carried out any commercial operation.The financial year ended 31 March 2018 was a record year for HEG Ltd largely driven by favourable tailwinds- robust growth in demand even as supply remained constrained, leading to a significant rise in product price realisation. This resulted in the best ever financial numbers. The company registered its ever highest ever net profit of Rs 1,081.34 crore. The company registered the highest electrode production at 64,000-plus MT in 2017-18 against 50,000 MT level in 2016-17. Even as demand surged, the company continued to strengthen its operational efficiencies. The company repaid its entire long-term debt and has plans to invest the cash surplus in avenues that enable it to sustain its growth momentum.