Heg Limited · NSE:HEG
Heg — Investor Presentation (July 2026)
37 slides from Heg's investor presentation, July 2026
Slide 1: Advanced Carbon / Clean Energy
Advanced Carbon / Clean Energy * HEG GreenTech July 2026 * Part of restructuring exercise
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by HEG Limited and Bhilwara Energy Limited (together, the "Company") solely for information purposes and does not constitute, and should not be construed as, an offer, invitation, inducement or solicitation to purchase or subscribe for any securities of
Slide 3: Greentech platform backed by Bhilwara Group's 65+ year legacy
Our "Greentech platform" is backed by Bhilwara Group’s 65+ year legacy of scaling large capex projects into profitable ventures Graphite Plastic LiB Anode Electrodes recycling material We have HEG LTD RSWM FibreGreen The Advanced LNJ GreenPET Carbon Company established (TACC) Ltd. flagship companies
Slide 4: The Next Big Leap: An Energy Efficient India From Advanced Cell Components To Clean Energy
The Next Big Leap: An Energy Efficient India From Advanced Cell Components To Clean Energy HEG GreenTech July 2026 04
Slide 5: Rationale of Restructuring
Rationale of Restructuring The proposed restructuring / scheme of arrangement is subject to requisite approvals. Refer to the Disclaimer slide. HEG GreenTech July 2026 05
Slide 6: Rationale for Restructuring: Resultant Structure
Rationale for Restructuring Resultant Structure Promoter & ● Value unlock — Market prices each business on promoter group its own merits, not as a blended conglomerate. ● Investor focus — Direct, focused access to each line of business, with clearer visibility and 60.72% 56.28% sharper accountabilit
Slide 7: Integrated platform of high growth businesses in clean tech domain
Holding structure of the Greentech platform Integrated platform of high growth businesses in clean tech domain HEG Greentech* Shareholding: Promoters ~60.72%; Public ~39.28% 100% 74% 100% Advanced Battery Materials Battery Energy Solution Green power generation business 20,000 (FY 27) to 60,000(FY 3
Slide 8: Advanced Battery Materials
Advanced Battery Materials - Anode Materials (20,000 MT) - Graphene (150 MT) HEG GreenTech July 2026 08
Slide 9: Anode Materials (20,000 MT)
Anode Materials (20,000 MT) HEG GreenTech July 2026 09
Slide 10: Anode Materials: Global Demand & Growth
Anode Materials Global Demand & Growth Battery Landscape • Global Lithium-Ion Battery Production expected to grow from ~2.3 TWh in 2025 to ~3 TWh in 2026 to ~8 TWh in 2035. • Growth driven primarily by EVs and BESS, with BESS emerging as the fastest-growing segment. • Total battery graphite anode de
Slide 11: Anode Materials: Regional Outlook - India
Anode Materials Regional Outlook - India Anode Demand in India: ● Domestic Indian cell capacity expected to reach ~250 GWh by 2035. ● PLI Scheme and proactive government policies to support long- term localization of supply chains. ● Graphite anode demand to surpass 100,000 MT by 2030, driven largel
Slide 12: TACC's Right To Win
Anode Materials TACC’s Right To Win 50+ yrs exp. in Strong RM Well Established Product Future Ready and graphitization sourcing Manufacturing Process readiness Innovation The anode material Existing synergies with Leverage of longstanding At an advanced stage of Strong focus on R&D and made through
Slide 13: Innovation Hub
Anode Materials Innovation Hub 200 Mt Demo Plant Already Operational For The Past 12 Months Operational pilot facility: A 200 MT anode pilot plant is operational at Mandideep, Madhya Pradesh, running on the same process flow and technology as the planned commercial plant, thereby validating TACC’s f
Slide 14: Strong development of high-end grade anodes
Anode Materials Strong development of high-end grade anodes Si-doped anode for High-Capacity Anode • Silicon-doped anodes enables higher energy density (>20%) and improved performance, supporting higher capacity and charging rate for premium high end applications. • Successful results validate the t
Slide 15: Production Scale-Up Targeted To Reach 60 KMT By FY32
Anode Materials Production CONSTRUCTION UNDERWAY FOR PHASE I – 20K MT Scale-Up • SOP: Q1 FY 28 • 85% Procurement complete • 100% engg complete Targeted To • Facility expandable to 30KMT at optimal investment. Reach 60 KMT By FY32, To Emerge As EXPANSION TO 60K MT BY FY32 One Of The Largest Global Pl
Slide 16: Strong momentum seen with major global players and Indian cell manufacturers
GTM Strong momentum seen with major global players and Indian cell manufacturers Advanced Offtake Discussions Underway with Key Global Customers For Quantities Exceeding 40,000 MT Advanced offtake (MOU stage) for next 3-5 years: • Legacy Automotive OEM (Europe): >40,000 MT advanced commercial discus
Slide 17: Graphene “Magic Material”
Graphene “Magic Material” HEG GreenTech July 2026 17
Slide 18: What is Graphene?
Graphene “Magic Material" What is Graphene? Graphene – A single layer of carbon atoms arranged in a honeycomb lattice, the thinnest material known, at just one atom thick, yet fully stable and flexible. • The strongest material ever tested. Over 200 times stronger than steel by weight, while remaini
Slide 19: Graphene: Right To Win
Graphene “Magic Material" Right To Win Independent Strong RM Product Future Ready and Patented Process Source readiness Innovation We have our own process Manufacturing graphene We are working on Strong focus on R&D and for manufacturing with indigenously different stages of innovation. Ready with c
Slide 20: Primary Target Applications
Graphene “Magic Material" Primary Target Applications Construction Textile Paints & Coatings CONCRETE, Bitumen & SMART FABRICS ANTI-CORROSION CEMENT Tires Energy Storage GRIP & WEAR BATTERIES & SUPERCAPS Advanced graphene-enhanced materials that improve performance, durability and functionality acro
Slide 21: Graphene Materials: Product Category
Graphene Materials 85 – 95 MT Product Category firm + likely pipeline 60% firm capacity Product Category Remarks Potential Orders* Segment GO (Tons) Proven reduction of 30% Cement in RMC mix with use of our inhouse graphene. RMC & Cement Sample for High Performance Concrete under validation at NCCBM
Slide 22: R&D Focus: Deep Talent & Capability
R & D Focus Deep 37 Talent & Capability Masters PhDs + • 37 PhDs and Masters spanning materials- material science, silicon anodes, graphene and application science 5+ Patents Filed • engineering. Specialist depth dedicated PhD advanced materials in silicon plus characterization capability 2 • and ap
Slide 23: Partnerships Across Anode & Graphene
R & D Focus Partnerships Across Anode & Graphene Validating and commercializing our materials with leading academia, government bodies and industry. AcSIR NUS I-FIM, Singapore NCB / NCCBM ANODE GRAPHENE GRAPHENE GRAPHENE GOVT iPhD talent pipeline; access to 38 CSIR, 28 Graphene, advanced materials &
Slide 24: Battery Energy Solutions
Battery Energy Solutions HEG GreenTech July 2026 24
Slide 25: Global BESS Market Outlook
Battery Energy Solutions Global BESS Market Outlook Market demand as per base- case scenario; actual demand expected to grow by ~2x Management estimate. Source: BloombergNEF; not independently verified. HEG GreenTech July 2026 25
Slide 26: Indian Battery Market Outlook
Battery Energy Solutions Indian Battery Market Outlook India’s battery market is poised for exponential growth, driven by rising renewable Integration, EV adoption, and increasing demand for reliable power A massive opportunity with ~4000 MWh pipeline* ahead *Pipeline represents opportunities under
Slide 27: REPlus - State-of-the-Art 1 GWh Gigafactory expanding to 6GWh by H2 FY27
Battery Energy Solutions REPlus - State-of-the-Art 1 GWh Gigafactory expanding to 6GWh by H2 FY27 GIGAFACTORY PLAN 1 GWh Operational Facility High-Speed & Fully Automatic Prismatic Line Dual Production Lines for EV and Stationary 5 GWh Line under construction - Battery Rack Battery Systems (5 GWh) A
Slide 28: Gaining Strong Traction Across India & Beyond
Battery Energy Solutions Gaining Strong Saudi Arabia INDIA Traction 5 x 1MW/3.7MWh Across Haryana 500KW/368KWh Noida 2MW/2.5MWh Gurugram India & 500KW/250KWh Gurugram 100KW/145KWh Modhera Khirsara 6MW/19MWh Atara 1.3MWh xxMW/0.50MWh Ahmedabad Beyond Gujarat 120KW/640KWh 100MW/ 220MWh Maharashtra 500
Slide 29: REPlus - Right To Win
Battery Energy Solutions REPlus - Right To Win Manufacturing BMS & EMS End of Life Excellence Development Management • Operations 1GWh • Solutions for • Responsible recycling facility with Monitoring, and end of life Technical and Process optimization and solutions for expertise Inhouse sustainabili
Slide 30: Localization
Battery Energy Solutions Localization EV BATTERY CERTIFICATION BY Q3 FY27 MAX. LOCALIZATION PLAN PACK • Cold Battery packs Plate ICAT certified • Enclosure for • Fire Fighting LCV,Trucks, z System Bus, AGV • Wire Harness • Gas PRODUCT (HYBRID) PORTFOLIO Detectors • 5.01MWh & Sensors • 314Ah Prismati
Slide 31: Green Power Generation
Green Power Generation HEG GreenTech July 2026 31
Slide 32: HEG's Hydropower Journey
Building Stable Green Cash Flows HEG’s Hydropower Journey Global Partnership Joint Venture with RSW Canada, leveraging expertise from 55,000 MW of global hydropower projects 1995 Malana HP commissioning 86 MW Malana HEP commissioned and Implementation Agreement First Success 1997 2001 signed for 192
Slide 33: Green Power Generation Assets
Building Stable Green Cash Flows Green Power Generation Assets Total Generation* (In Operational assets Capacity Year Location Million Units) Hydro 1 86 MW 2001 Himachal Pradesh 331 Hydro 2 192 MW 2010 Himachal Pradesh 661 Wind 14 MW 2014 Maharashtra 25 Under development BESS IPP 200MWh Q3 FY27 Guja
Slide 34: Green Power: Right To Win
Green Power Right To Win ● Proven execution capability: Dedicated in-house execution team delivers projects end-to-end, on schedule. ● Strong fund-raising ability: Demonstrated access to equity and debt to self-fund the growth pipeline. ● High, disciplined IRR: Capital deployed only where projects c
Slide 35: Capex Plan
Capex Plan* *illustrative and based on management assumptions. Actual results may differ materially. This is not investment advice. HEG GreenTech July 2026 35
Slide 36: Strong growth & expansion roadmap for the Greentech platform
We have a strong growth & expansion roadmap in place for the Greentech platform, with anode business as key growth driver ~₹5,500 Cr ~₹1,500 Cr ~₹4,000 Cr Total Capex Equity (~27%) Debt (~73%) Strong equity capitalization, supplemented by steady hydro cash flows, self-funds the Anode and Graphene gr
Slide 37: Thank You
Thank You For any queries, please contact: HEG Limited Contact No.: +91 9911123411 /+91 9978644008 Email: Puneet.anand@Lnjbhilwara.com / Salil.bawa@Lnjbhilwara.com HEG GreenTech July 2026