Heg Limited · NSE:HEG
Heg — Q4 FY2026 Earnings Presentation
20 slides from Heg's earnings presentation, May 1, 2026
Slide 1: Cover letter to stock exchanges on investor presentation
HEG/SECTT/2026 1st May,2026 1 BSE Limited 2 National Stock Exchange of India Limited P J Towers Exchange Plaza, 5th Floor Dalal Street Plot No.C/1, G Block, Bandra - Kurla Complex MUMBAI - 400 001. Bandra (E),MUMBAI - 400 051. Scrip Code : 509631 Scrip Code : HEG Sub: Investors presentation on the A
Slide 2: HEG Limited Investor Presentation Q4 and full year 2025-26 results
HEG LIMITED Investor Presentation Q4 and full year 2025-26 results
Slide 3: Graphite Electrode (GE)
Graphite Electrode (GE) A consumable for Electric Arc Furnaces (EAF) used in steel production Functions as an electrical conductor in EAFs, generating the heat required to melt steel scrap High-tech / High Entry Barrier – HEG was the last new entrant in the Western world in 1976 EAF-produced
Slide 4: HEG Limited – Unique Strengths
HEG Limited – Unique Strengths Has been World’s Largest Single Site Graphite Electrode Plant under one roof with a capacity of 80,000 tons pa for a long time. Beginning 2024 completed expansion to 100,000 tons to become the third largest producer of Graphite electrodes in the western world. Now
Slide 5: GE Capacity Build up
GE Capacity Build up Capacity Fig. in 000’MT 120 115 100 100 80 80 66 60 52 40 30 20 14 0 1990 2002 2006 2009 2012 2024 2028 HEG Ltd © LNJ Bhilwara Group 4
Slide 6: Expanded plant at 100,000 tons complete since 2024
Expanded plant at 100,000 tons complete since 2024 HEG Ltd © LNJ Bhilwara Group 5
Slide 7: Top 10 Crude Steel Producing Countries
TOP 10 Crude Steel - Producing Countries Crude Steel Production (mmt) Y-o-Y Q-o-Q Sr. No Country Jan-Mar'25 Jan-Mar'26 Y-o-Y (%) Oct-Dec'25 Jan-Mar'26 Q-o-Q (%) 1 China 259.2 247.4 -4.6% 210.1 247.4 17.8% 2 India 40.3 44.7 10.8% 42.6 44.7 5.0% 3 Japan 20.4 20.1 -1.7% 20.2 20.1 -0.7% 4 United States
Slide 8: Global Steel Demand Forecast 2025-2027 Highlights
Global Steel Demand Forecast 2025-2027 I Highlights WSA Short Range Outlook: Apr’26 © HEG Ltd. | LNJ Bhilwara Group 7
Slide 9: Industry Outlook
Industry Outlook • Global steel production mixed: Q1 2026 at ~459 mmt, down ~2–3% YoY but up ~8% QoQ, with recovery largely China- driven, not demand-led. • China impact remains dominant: Seasonal Q1 rebound after Q4 cuts; exports >100 mmt annualized continue to pressure global pricing and trade flo
Slide 10: Financial Results for the Quarter & Year ended 31st Mar 2026 – Standalone
Financial Results for the Quarter & Year ended 31st Mar 2026 – Standalone (Rs. cr) Quarter Ended Year Ended Sl. No. Particulars 31-03-2026 31-12-2025 31-03-2025 31-03-2026 31-03-2025 Audited Unaudited Audited Audited Audited I Revenue from operations 603.21 655.66 536.58 2,568.50 2,152.71 II Other i
Slide 11: Financial Results for the Quarter & Year ended 31st Mar 2026 – Standalone
Financial Results for the Quarter & Year ended 31st Mar 2026 – Standalone (Rs. cr) Quarter Ended Year Ended Sl. No. Particulars 31-03-2026 31-12-2025 31-03-2025 31-03-2026 31-03-2025 Audited Unaudited Audited Audited Audited VII Profit/(loss) before tax (V-VI) (189.01) 180.10 (71.60) 246.40 147.82 V
Slide 12: Financial Results for the Quarter & Year ended 31st Mar 2026 – Consolidated
Financial Results for the Quarter & Year ended 31st Mar 2026–Consolidated (Rs. cr) Quarter Ended Year Ended Sl. No. Particulars 31-03-2026 31-12-2025 31-03-2025 31-03-2026 31-03-2025 Audited Unaudited Audited Audited Audited Continuing Operation I Revenue from operations 603.21 655.67 536.58 2,568.5
Slide 13: Financial Results for the Quarter & Year ended 31st Mar 2026 – Consolidated
Financial Results for the Quarter & Year ended 31st Mar 2026–Consolidated (Rs. cr) Quarter Ended Year Ended Sl. No. Particulars 31-03-2026 31-12-2025 31-03-2025 31-03-2026 31-03-2025 Audited Unaudited Audited Audited Audited IX Profit/(Loss) before tax (VII+VIII) (144.94) 246.37 (79.76) 404.37 165.1
Slide 14: Financial Results for the Quarter & Year ended 31st Mar 2026 – Consolidated
Financial Results for the Quarter & Year ended 31st Mar 2026–Consolidated (Rs. cr) Quarter Ended Year Ended Sl. No. Particulars 31-03-2026 31-12-2025 31-03-2025 31-03-2026 31-03-2025 Audited Unaudited Audited Audited Audited Total comprehensive income for the period/year attributable to owners of XV
Slide 15: Financial Snapshot (Standalone)
Financial Snapshot (Standalone) Rs. in cr (except EPS) FY PARTICULARS 25-26 24-25 23-24 TOTAL INCOME 2660 2279 2537 EBITDA 497 388 526 EBIT 284 187 351 PAT 181 101 232 EPS 9.36 5.25 12.00 EBITDA Margin (%) 19% 17% 21% PAT Margin (%) 7% 4% 9% HEG Ltd © LNJ Bhilwara Group 14
Slide 16: Quarterly Performance (Standalone)
Quarterly Performance (Standalone) (Rs. in crs.) 697 656 613 603 571 568 537 477 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY25 FY26 Revenue from Operations HEG Ltd © LNJ Bhilwara Group 15
Slide 17: Quarterly Performance (Standalone)
Quarterly Performance (Standalone) (Rs. in crs.) 243 226 194 154 140 59 -5* Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY25 FY26 -126* * Negative EBITDA is on account of loss on fair valuation of investment in GrafTech EBITDA HEG Ltd © LNJ Bhilwara Group 16
Slide 18: Investments (Standalone)
Investments (Standalone) (Rs. in crs.) 1167 1155 998 977 917 923 875 792 30th Jun24 30th Sep24 31st Dec24 31st Mar25 30th Jun25 30th Sep25 31st Dec25 31st Mar26 * Investments including Cash & Cash equivalents and excluding investments in Associates & Wholly Owned Subsidiary HEG Ltd © LNJ Bhilwara Gr
Slide 19: Borrowings (Standalone)
Borrowings (Standalone) (Rs. in crs.) 793 691 642 599 585 586 561 494 30th Jun24 30th Sep24 31st Dec24 31st Mar25 30th Jun25 30th Sep25 31st Dec25 31st Mar26 Short Term Borrowings Outstanding at the end of the Quarter HEG Ltd © LNJ Bhilwara Group 18
Slide 20: Thank You
Thank You Mr. Manish Gulati : Executive Director Mr. Om Prakash Ajmera : Group CFO Mr. Ravi Kant Tripathi : CFO Mr. Puneet Anand : CSO HEG Limited Ph: +91 9981190052 Fax: +91 120 254 1575 Email: Manish.gulati@lnjbhilwara.com rk.tripathi@lnjbhilwara.com HEG Ltd © LNJ Bhilwara Group 19