HEG Advanced Materials Limited has announced the outcome of its Board Meeting held on November 3, 2026. Key approvals include the unaudited financial results for the quarter and half-year ended September 30, 2026, the formulation of an Employee Stock Option Plan 2026, and designations of senior management personnel. The company also approved significant expansion plans for its anode, crucible, and graphene manufacturing facilities.
Board Meeting Outcomes Announced
HEG Advanced Materials Limited convened its Board Meeting on November 3, 2026, resulting in several significant decisions impacting financial reporting, employee incentives, and strategic growth initiatives. The Board reviewed and approved the unaudited financial results for the quarter and half-year ended September 30, 2026, along with the accompanying limited review report from M/s SCV & Co. LLP.
Employee Stock Option Plan and Senior Management Appointments
A key resolution was the approval of the “HEG Advanced Materials Limited Employee Stock Option Plan 2026.” This plan is designed to grant stock options to eligible employees and its subsidiaries, subject to shareholder and regulatory approvals. Additionally, based on recommendations from the Nomination & Remuneration Committee, Shri Hiren Pravin Shah (MD & CEO of Replus Engitech Private Limited) and Shri Ankur Khaitan (MD & CEO of TACC Limited) have been designated as Senior Management Personnel.
Strategic Expansion and Restructuring
The company also announced the closure of its foreign subsidiary, LNJ Trading FZCO in Dubai, as part of a rationalization of its overseas corporate structure. Furthermore, substantial expansion plans were approved:
- Revised Anode Project Completion: The Phase-1 of the 20,000 MT Anode project has a revised estimated cost of ~ Rs. 2,350 crore, targeting completion by June 2027.
- Anode Capacity Expansion: A proposal to increase anode capacity from 20,000 MT to 44,000 MT with an estimated cost of ~ Rs. 1606 crore, targeting completion by March 2029.
- Crucible Manufacturing Plant: Establishment of a new plant to manufacture 80,000 units of Crucible per annum, estimated at ~ Rs. 475 crore, targeting completion by September 2028.
- Graphene Manufacturing Plant: Setup of a 500 MT Graphene manufacturing plant in two phases, with an estimated cost of ~ Rs. 500 crore, targeting completion by September 2028.
Other Key Decisions
The Board also approved the appointment of M/s BGJC & Associates LLP as Internal Auditors for FY 2026-27 and the alteration of the Memorandum of Association to include objects related to Anode, Graphene, crucible, advanced carbon materials, and allied materials. A loan of Rs. 50 crore (revolving) was approved for subsidiary Replus Engitech Private Limited. The cessation of M/s. S.L. Chhajed & Co. as Internal Auditors was also noted.
Source: BSE
