HEG Advanced Materi.

** HEG Advanced Materials' shares HEGL.NS settle 5% higher at 273 rupees

** HEG Ltd demerges into two entities - advanced materials, battery energy solutions and green power businesses now housed under HEG Advanced Materials, while graphite electrodes business under HEG Graphite

** Brokerage ICICI Securities expects restructuring to unlock value by allowing the two businesses to pursue independent growth strategies

** Pegs fair value for HEG Advanced Materials at around 250 rupees/shr, and HEG Graphite at 525 rupees/share

** ICICI Securities optimistic on HEG given its planned 20,000-ton-per-annum greenfield battery-grade anode plant, which could offer meaningful high-margin growth

** Expects over 30% margin potential for the battery-grade anode business

** HEG Graphite will list separately in about 2 months

(Reporting by Nishit Navin in Bengaluru)

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** Shares of India's graphite electrodes manufacturers HEG HEGL.NS rise 1.1% to 737 rupees and Graphite India GRPH.NS up 4.8% to 736.75 rupees

** GraphTech International, a U.S.-based graphite electrode company, announced the closure of its Mexico manufacturing facility by second quarter of 2027

** ICICI Direct Research says the development comes as excess global graphite electrode capacity has pressured prices and profitability in recent years

** Notes closure of 7% of global graphite electrode capacity could reduce excess supply and improve the demand-supply balance

** Notes the move is positive for Indian producers including HEG and Graphite India, as it could help cushion the impact of higher costs linked to geopolitical tensions

** Lower global capacity could support prices, with Indian producers expected to raise prices from September 2026, says ICICI Direct Research

** HEG stock up 18.42%, YTD

** Graphite India stock up 14.98%, YTD

(Reporting by Anushka Rajvedi in Bengaluru)

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HEG's board approved September 1, 2026 as the effective date for its Composite Scheme of Arrangement and fixed September 7 as the record date for determining shareholder entitlements. Under the scheme, HEG Graphite will issue one ₹2 share for each ₹2 HEG share for the demerged graphite business, while HEG will issue eight shares for every seven shares of Bhilwara Energy. Riju Jhunjhunwala was to become HEG's chairman, managing director and chief executive, while Ravi Jhunjhunwala was to move to HEG Graphite in the same roles and remain a non-executive director of HEG. The board also approved five new independent directors, two non-independent directors, a new chief financial officer and a new company secretary, while several existing directors and graphite-business executives were to transfer to HEG Graphite or leave HEG's board. HEG's graphite-electrode business generated about ₹2,569 crore of standalone revenue in FY26 and accounted for roughly 99% of revenue, while its anode-materials business remained pre-revenue.

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HEG Ltd's board fixed September 1, 2026 as the effective date of its composite scheme and September 7 as the record date for shareholder entitlements. The arrangement provided for HEG Graphite Ltd to issue one share for every HEG share in the graphite demerger, while HEG would issue eight shares for every seven shares of Bhilwara Energy in the power-business amalgamation. Ravi Jhunjunwala was to relinquish his chairman, managing director and chief executive roles at HEG, with Riju Jhunjunwala elevated to the posts for five years subject to shareholder approval. The reorganisation also involved six director resignations, seven additional director appointments and the transfer of numerous finance, secretarial and operating employees to HEG Graphite. The NCLT's Indore bench sanctioned the scheme on August 13, and HEG received the certified order on August 21. HEG's standalone revenue was ₹2,569 crore in FY26, with graphite electrodes accounting for about 99% of revenue. Its Mandideep facility had 100,000 tonnes of annual graphite-electrode capacity, while its TACC anode-materials business remained pre-revenue.

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HEG Ltd's board approved September 1, 2026 as the effective date for its composite scheme of arrangement and set September 7 as the record date for shareholders eligible for consideration. Under the demerger, eligible HEG shareholders were to receive one share of HEG Graphite Ltd for each HEG share, while Bhilwara Energy shareholders were to receive eight HEG shares for every seven BEL shares under the amalgamation. Ravi Jhunjhunwala was to become chairman, managing director and chief executive of HEG Graphite while remaining a non-executive director of HEG, and Riju Jhunjhunwala was to become HEG's chairman, managing director and chief executive, subject to shareholder approval. The reconstitution was to add five independent and two non-independent directors, while several existing directors and executives were to leave or transfer to HEG Graphite. Subject to statutory approvals, HEG was to be renamed HEG Advanced Materials Ltd and HEG Graphite was to take the HEG Ltd name. HEG had standalone FY26 revenue of about ₹2,569 crore, with graphite electrodes accounting for roughly 99% of revenue.

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HEG Ltd's board approved September 1, 2026 as the effective date for the court-sanctioned composite scheme separating its graphite business into HEG Graphite Ltd and combining Bhilwara Energy Ltd with HEG. It set September 7 as the record date for shareholders to receive one HEG Graphite share for each HEG share, while Bhilwara Energy shareholders would receive eight HEG shares for every seven Bhilwara Energy shares. Riju Jhunjunwala was elevated to succeed his father Ravi as HEG's chairman, managing director and chief executive, subject to shareholder approval, while Ravi was to move to the graphite company and remain a non-executive director of HEG. The board also approved a broad reconstitution involving new independent and non-independent directors, committee changes and transfers of senior executives to HEG Graphite. Under the arrangement, HEG was to become HEG Advanced Materials Ltd, while HEG Graphite Ltd was to be renamed HEG Ltd. HEG had standalone revenue of ₹2,569 crore in FY26, with graphite electrodes accounting for about 99% of revenue.

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HEG Ltd's board approved September 1, 2026 as the effective date for a composite scheme that demerges its graphite business into HEG Graphite and merges Bhilwara Energy's power undertaking into HEG. The National Company Law Tribunal's Indore bench had sanctioned the scheme on August 13, and the certified order was received on August 21. It set September 7 as the record date: HEG shareholders were to receive one HEG Graphite share for each HEG share, while Bhilwara Energy shareholders were to receive eight HEG shares for every seven held. Ravi Jhunjhunwala was to relinquish HEG's chairmanship and CEO roles for the corresponding positions at HEG Graphite, while Riju Jhunjhunwala was to become HEG's chairman, managing director and CEO, subject to shareholder approval. Six directors were to leave and seven additional directors were to join the board, with new finance and company-secretarial leadership also approved. The current company was proposed to be renamed HEG Advanced Materials, while HEG Graphite was proposed to take the HEG Limited name. Graphite accounted for about 99% of HEG's FY26 standalone revenue.

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Aug 19 (Reuters) - HEG Ltd HEGL.NS:

• RECEIVES NCLT APPROVAL FOR DEMERGER SCHEME

• NCLT APPROVAL PAVES THE WAY FOR TWO INDEPENDENTLY LISTED COMPANIES

Source text: ID:nBSEb359jD

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On August 13, NCLT Indore sanctioned HEG Ltd’s composite scheme to demerge its graphite-electrode business into HEG Graphite Ltd and merge Bhilwara Energy Ltd into HEG. The scheme provides one HEG Graphite share for each HEG share and eight HEG shares for every seven Bhilwara Energy shares; it becomes effective after the certified order is received and filed with the Registrar of Companies. Once effective, HEG Ltd is to be renamed HEG Greentech Ltd, while HEG Graphite is to take the HEG Ltd name, and the resulting shares are to be listed within 60 days of receipt of the order. Graphite electrodes accounted for about 99% of HEG’s revenue, while the company reported standalone revenue of ₹2,569 crore and profit after tax of ₹181 crore for FY26.

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HEG Ltd's composite scheme of arrangement was sanctioned by the National Company Law Tribunal's Indore bench in an order dated 13 August, uploaded on 18 August. The scheme transferred HEG's graphite-electrode business to HEG Graphite Ltd on a one-for-one share basis and merged Bhilwara Energy Ltd into HEG, with BEL shareholders receiving eight HEG shares for every seven BEL shares. It would become effective after the certified order was filed with the Registrar of Companies and provided for HEG Graphite to take the HEG name, HEG to become HEG Greentech and Bhilwara Energy to be dissolved without winding up. HEG reported standalone revenue of ₹2,569 crore and profit after tax of ₹181 crore for the year to March 2026, with graphite electrodes accounting for about 99% of revenue.

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April 29 (Reuters) - HEG Ltd HEGL.NS:

• HEG LTD MARCH-QUARTER CONSOL LOSS 1.14 BILLION RUPEES

• HEG LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 6.03 BILLION RUPEES

• RECOMMENDS FINAL DIVIDEND OF 3.40 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: HEGL.NS

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** Shares of graphite stocks Graphite India GRPH.NS and HEG HEGL.NS jump 7.9% and 11%, respectively

** Industry leader Graftech EAF.N raised prices of graphite electrodes by a minimum of $600 to $1,200 per metric ton on Thursday, citing Iran war-driven rise in raw material costs

** ICICI Direct Research estimates EAF has raised prices by 15%-30% and expects it to pave the way for more price hikes in India

** Analysts, on average, rate GRPH and HEGL "strong buy" - data compiled by LSEG

** HEGL trims losses since beginning of Iran war to 2.4%, GRPH pares losses to 9%

(Reporting by Nandan Mandayam in Bengaluru)

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Feb 24 (Reuters) - HEG Ltd HEGL.NS:

• INOXAP TO SUPPLY NITROGEN TO TACC FOR ADVANCED CARBON MATERIALS MANUFACTURING

Source text: ID:nBSE60h8hx

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Jan 9 (Reuters) - HEG Ltd HEGL.NS:

• BSE, NSE ISSUED OBSERVATION LETTERS FOR SCHEME OF ARRANGEMENT AMONGST CO, HEG GRAPHITE, BHILWARA ENERGY

• WILL ABIDE BY CONDITIONS GIVEN IN OBSERVATION LETTERS, PROCEED WITH FILING OF SCHEME WITH NCLT

Source text: ID:nNSE9ZQzRh

Further company coverage: HEGL.NS

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Aug 13 (Reuters) - HEG Ltd HEGL.NS:

• TACC SIGNS MOA WITH CRRI FOR GRAPHENE-ENHANCED PAVEMENTS

Source text: ID:nBSE36KqXh

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** Shares of HEG HEGL.NS surge 10.7% to 590 rupees, highest since December 10 2024

** Stock marks biggest intraday pct gain since March 25

** Graphite electrodes manufacturer posts a 3.5 times Y/Y rise in June-quarter consol profit to 1.05 bln rupees ($11.41 million)

** Revenue from operations rises 8% Y/Y

** Co approves 6.50 bln rupees expansion plan for graphite electrodes and related products to add 15,000 TPA capacity

** More than 8.6 shares change hands, 9.6x of 30-day avg

** Stock up 15.7% YTD

($1 = 87.6300 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

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** Shares of HEG HEGL.NS fall as much as 2.3% to 501.7 rupees per share

** Graphite electrodes manufacturer receives a show-cause notice from Bhopal Tax Authority for GST demand and recovery of IGST refunds for the financial year 2018–19

** HEGL says the total tax demand amounts to 2.82 billion rupees, and it will only have a limited impact on the final tax liability

** Also adds it will file a reply to the notice

** HEGL up 0.6% in 2025 so far, underperforming the 5.3% rise in the Nifty 500 index .NIFTY500, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

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July 1 (Reuters) - HEG Ltd HEGL.NS:

• HEG LTD - GETS NOTICE WHICH PROPOSES RECOVERY OF TAX REFUNDS AND PENALTY OF 2.82 BILLION RUPEES

Source text: ID:nNSE3J2yk7

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** Shares of Indian graphite makers Graphite India GRPH.NS and HEG Limited HEGL.NS rise 2.9% and 3.3%, respectively

** GRPH at highest level (574 rupees) in over three weeks; HEGL (511 rupees) highest in more than three weeks

** Japan decides to impose 95.2% anti-dumping duties on graphite electrodes from China for five years, aiming to protect domestic graphite electrodes makers

** Over 2.6 million GRPH shares and 2.3 million HEGL shares traded, both about 1.5x their 30-day avg

** HEGL erases YTD losses; GRPH now up 1.5% for the year

(Reporting by Aleef Jahan in Bengaluru)

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June 18 (Reuters) - HEG Ltd HEGL.NS:

• BHILWARA INFOTECHNOLOGY ANNOUNCES SPIN-OFF OF TALENT SOLUTIONS BUSINESS

Source text: ID:nBSE6V9SmR

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** Shares of graphite electrode manufacturer HEG HEGL.NS fall 5.8% to 497.80 rupees

** Co posts consolidated loss of 736.7 mln rupees ($8.6 mln) in Q4 from profit of 329.1 mln rupees year ago

** Q4 revenue falls marginally to 5.42 bln rupees; expenses rise 18% to 6.64 bln rupees

** Trading vols at 1.8 mln shares, 1.3x the 30-day average

** HEGL down ~2% YTD

($1 = 85.4220 Indian rupees)

(Reporting by Vijay Malkar)

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May 19 (Reuters) - HEG Ltd HEGL.NS:

• MARCH-QUARTER CONSOL LOSS 736.7 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 5.42 BILLION RUPEES

• DIVIDEND 1.8 RUPEES PER SHARE

Source text: ID:nNSE6GFPbw

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** Shares of graphite electrode makers HEG HEGL.NS and Graphite India GRPH.NS rise 4% and 2.2%, respectively

** HEGL and GRPH gained about 12% and 8%, respectively, in the previous session as well

** Japan imposes 95.2% anti-dumping duty on graphite electrode exports from China for four months, effective from March 29

** China hikes prices of high-power graphite electrodes, effectively passing on duty to customers

** "This will push up domestic high-power graphite electrode prices by 7%, benefitting HEGL which earns 33% of its revenue from domestic markets," says ICICI Direct

** GRPH is also likely to gain from the electrode price hike due to its strong market presence in India, adds ICICI Direct

** HEGL and GRPH shares are down 2.5% and 10.6% in 2025 so far

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of India's HEG HEGL.NS jump nearly 8% to hit a seven-week high of 417.35 rupees

** Stock on course for biggest daily pct gain in more than three months, if the current trend holds

** Co's associate firm Bhilwara Energy approves raising up to 5 billion rupees ($57.2 million) from ace investor Madhusudan Kela-backed Singularity AMC and others

** Co also approves modified scheme of arrangement to demerge graphite business into a separate entity, and merge Bhilwara Energy with itself

** Fundraise to help create HEG Greentech, to be listed after scheme of arrangement, focusing on power assets, battery-grade anode materials, and graphene and advanced battery systems manufacturing

** Nearly 5 million shares trade on the day, 2.2x 6-month avg volume

** HEGL stock has dropped 18%, YTD

(Reporting by Vivek Kumar M)

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March 10 (Reuters) - HEG Ltd HEGL.NS:

• HEG LTD - BHILWARA ENERGY APPROVES FUND RAISE OF UP TO 5 BILLION RUPEES

• HEG LTD - INVESTMENT TO SUPPORT CREATION OF HEG GREENTECH PLATFORM

• HEG LTD - GREENTECH TO BE LISTED AFTER DEMERGER AND MERGER

• HEG LTD - CAPITAL TO DRIVE ORGANIC GROWTH AND NEW PROJECTS

Source text: ID:nBSE4x3sFc

Further company coverage: HEGL.NS

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** Shares of Indian graphite electrode makers extend gains to second session, among top pct gainers in Nifty 500 .NIFTY500

** Gains after China announced export curbs of "dual-use items" related to graphite and other superhard materials to U.S.

** HEG HEGL.NS jumps 12%, trading vols 34x 30-day avg in busiest session since listing in May 1995

** Graphite India GRPH.NS rises ~6%, trading vols 14x 30-day avg in busiest session in nearly three months

** HEGL and GRPH both rated "strong buy" on avg, rose 14% and 9%, respectively, on Tuesday

** HEGL up ~46% YTD, outperforming ~9% gains in GRPH

(Reporting by Vijay Malkar and Hritam Mukherjee)

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** Shares of HEG HEGL.NS and Graphite India GRPH.NS jump 15% and 9%, respectively

** Stock top gainers in Nifty 500 index .NIFTY500 which is up by about 0.8%; HEG set for highest one-day pct gain since June 2023

** China will ban exports of "dual-use items" related to gallium, germanium, antimony and superhard materials to the U.S. with immediate effect, its commerce ministry said

** The ministry's directive also requires a stricter review of end-usage for graphite dual-use items shipped to the United States

** HEG and Graphite India are country's top producers of the material

** HEG shares up 31%, while GRPH up 3% YTD

(Reporting by Sethuraman NR in Bengaluru)

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Nov 13 (Reuters) - HEG Ltd HEGL.NS:

• SEPT-QUARTER CONSOL PROFIT 822.8 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 5.68 BILLION RUPEES

• APPOINTS RAVI KANT TRIPATHI AS CFO

Source text: ID:nBSE643LqG

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** Shares of HEG Ltd HEGL.NS rise as much as 6% to 2,361.95 rupees

** Graphite electrodes maker has invested 2.49 bln rupees ($29.7 mln) in graphite products maker GrafTech International EAF.N for an 8.23% stake

** Stock on track to snap four days of losses

** More than 345,000 shares traded as of 11:02 a.m. IST, vs their 30-day moving avg of 493,313 shares

** HEGL last up 4.9%, adding to YTD gains of 22.4% so far

($1 = 83.9500 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Oct 7 (Reuters) - HEG Ltd HEGL.NS:

• HEG - INVESTED IN SHARES OF GRAFTECH INTERNATIONAL

• HEG LTD - INVESTED IN GRAFTECH INTERNATIONAL FOR 2.49 BILLION RUPEES

• HEG - CO HAS ACQUIRED 8.23% STAKE IN SHARES OF GRAFTECH INTERNATIONAL

Source text for Eikon: ID:nBSEfkwFv

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