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HEG has cleared the final operative steps of its Composite Scheme of Arrangement (Scheme), which will result in the creation of two strong independent listed entities.
The Board has approved Tuesday, 01 September 2026, as the Effective Date and Monday, 07 September 2026, as the Record Date for shareholder entitlement.
Under the demerger, shareholders of HEG as on the Record Date will receive one fully paid-up equity share of face value Rs 2 in the resulting company for every one equity share of face value Rs 2 held in HEG, a 1:1 entitlement.
As part of the same Scheme, Bhilwara Energy will be amalgamated into HEG, with HEG issuing eight equity shares of face value Rs 2 for every seven equity shares of face value Rs 10 held in Bhilwara Energy.
On the Scheme taking effect:
- The Company's graphite electrodes business will move into the resulting company, HEG Graphite, which is proposed to be renamed HEG and taken forward as a separately listed, pure-play graphite electrodes company.
- The existing listed entity (BSE: 509631, NSE: HEG) will retain the advanced materials, battery energy solutions and green power businesses and is proposed to be renamed HEG Advanced Materials.
Pursuant to the scheme, Ravi Jhunjhunwala will lead HEG Graphite as Chairman, Managing Director and Chief Executive Officer with effect from 01 September 2026. He will also continue on the board of HEG Advanced Materials.
Similarly, Riju Jhunjhunwala has been elevated to the positions of Chairman, Managing Director, and Chief Executive Officer of HEG Advanced Materials for a five-year term, subject to shareholder approval.
Profit before tax (PBT) increased 28.18% to Rs 134.58 crore during the June quarter compared with the year-ago period.
On the operational front, revenue from the graphite segment, the company's core business, grew 11.27% year-on-year to Rs 677.65 crore in Q1 FY27, accounting for the bulk of total revenue.
while, revenue from the power segment declined 16.93% year-on-year to Rs 3.14 crore during the quarter.
Meanwhile, the company's board also noted that it has applied to the Ministry of Corporate Affairs (MCA) for the reservation of the proposed name HEG Advanced Materials as part of the planned change in the company's name from HEG. The MCA has approved and reserved the proposed name for a period of 60 days from the date of approval.
HEG is India's leading graphite electrode manufacturer. It has one of the largest integrated graphite electrode plants in the world, processing sophisticated UHP (ultra high power) electrodes.
The board of HEG at its meeting held on 22 July 2026 has noted that the Company has applied to the Ministry of Corporate Affairs (MCA) for reservation of the proposed name 'HEG Advanced Materials' in connection with the proposed change of its name from HEG Limited and the proposed name has been reserved by the Ministry of Corporate Affairs for a period of 60 days from the date of its approval.
While the Company's post-restructuring focus was earlier described broadly as 'Greentech', the management has re-evaluated its long-term strategy to better align with the Company's core strengths in advanced manufacturing, specialized capabilities and value-added materials. The proposed name is intended to more accurately reflect the Company's business, strategic direction and corporate identity to its customers, investors and other stakeholders globally.
In terms of Clause 27 of the Composite Scheme of Arrangement, the proposed change of name is conditional upon, and shall become effective concurrently with, the Scheme becoming fully effective. Upon the Scheme becoming effective, the Company shall undertake the necessary statutory and regulatory compliances for effecting the change of its name from HEG to HEG Advanced Materials and shall make the requisite disclosures to the Stock Exchanges in accordance with applicable laws.
TACC, an LNJ Bhilwara Group company and wholly owned subsidiary of HEG, has signed a Memorandum of Understanding (MOU) with the Institute for Functional intelligent Materials (I-FIM) at the National University of Singapore (NUS) to collaborate in the fields of advanced materials science, nanotechnology, and related disciplines.
The collaboration reflects a shared vision between academia and industry to accelerate the development, validation, and commercialization of next-generation advanced materials technologies, including graphene and other functional nanomaterials.
The MoU establishes a framework for long-term cooperation between TACC and NUS I-FIM, combining TACC's industrial and commercialization capabilities with NUS' globally recognized scientific research expertise.
For the full year,net profit rose 196.68% to Rs 341.36 crore in the year ended March 2026 as against Rs 115.06 crore during the previous year ended March 2025. Sales rose 19.31% to Rs 2568.50 crore in the year ended March 2026 as against Rs 2152.71 crore during the previous year ended March 2025.