HEG Advanced Materials Reports ₹208.89 Crore Profit In Q2 FY27, Board Gives Green Signal To ₹2,581 Crore Expansion Projects As Company Charts Its Next Growth Phase

Mumbai: HEG Advanced Materials Limited, formerly HEG Limited, reported consolidated profit after tax (PAT) of ₹208.89 crore for the quarter ended September 30, 2026 (Q2 FY27), according to its regulatory filing.

The LNJ Bhilwara Group company's consolidated revenue from continuing operations stood at ₹429.94 crore, while total income reached ₹546.59 crore. The board also approved three expansion projects involving combined capital expenditure of ₹2,581 crore across anode materials, crucibles and graphene manufacturing.

EBITDA Stands At ₹312.78 Crore

HEG Advanced Materials reported consolidated EBITDA of ₹312.78 crore during the September quarter. The company did not provide comparable year-ago quarterly figures in its press release. It also clarified that its current financial results are not comparable with previous figures following the demerger of its graphite electrodes business.

H1 FY27 Profit Reaches ₹269.07 Crore

For the six months ended September 30, 2026, the company reported consolidated PAT of ₹269.07 crore. Revenue from continuing operations stood at ₹725.80 crore, while total income reached ₹870.77 crore. Consolidated EBITDA for H1 FY27 stood at ₹438 crore. The company's consolidated cash and bank balances were ₹1,322.84 crore as of September 30, 2026.

Board Approves ₹2,581 Crore Capex

The board approved an investment of ₹1,606 crore to expand the company's anode materials manufacturing capacity to 44,000 metric tonnes. The first phase, comprising 20,000 metric tonnes, is scheduled for commissioning in June 2027, while the additional 24,000 metric tonnes is targeted for March 2029.

The board also approved a ₹475 crore crucible manufacturing project for backward integration and cost optimisation. Additionally, a ₹500 crore graphene manufacturing project with an annual capacity of 500 metric tonnes was approved.

Energy Storage Capacity Expansion Underway

The company's REPLUS business has deployed more than 1 GWh of energy storage capacity. Its existing 1 GWh manufacturing facility in Pune is being expanded with an additional 5 GWh production line, taking planned total capacity to 6 GWh. The company also operates hydroelectric and wind power assets, with a combined installed capacity of 292 MW.

Demerger Changes Financial Reporting

The HEG Composite Scheme became effective on September 1, 2026. Under the restructuring, the graphite electrodes business was transferred to HEG Limited, while Bhilwara Energy Limited was amalgamated into HEG Advanced Materials. The company stated that the restructuring makes current financial figures non-comparable with previous periods.

Chairman, MD and CEO Riju Jhunjhunwala highlighted the company's focus on research, proprietary technologies and expansion across advanced materials and energy storage.

Disclaimer: This report is based on unaudited financial results filed by the company and does not constitute investment advice.