HEG Limited’s board has approved the subscription of unsecured, optionally convertible debentures of its subsidiary, TACC Limited, up to INR 633 Crore. The board also approved the appointment of Shri Puneet Anand as President and Group Chief Strategy Officer effective December 1, 2025. The company addressed show cause notices received regarding IGST refunds and remains confident in its compliance.
TACC Limited Debenture Subscription
The HEG Limited board has greenlit a proposal to subscribe to unsecured, optionally convertible debentures issued by its wholly-owned subsidiary, TACC Limited. This investment will total up to INR 633 Crore across multiple tranches. These funds are intended to bolster TACC Limited’s research and development, facilitate business expansion, cover capital expenditure, and address working capital needs.
Leadership Appointment
Shri Puneet Anand has been appointed as President and Group Chief Strategy Officer, effective December 1, 2025. He will also be designated as a Key Managerial Personnel (KMP) of the company. He brings over 17 years of experience in strategy, transactions, and family-owned enterprises.
Financial Performance: Q2 Results
HEG Limited has released its unaudited standalone financial results for the quarter ended September 30, 2025 (Q2 FY26). Key highlights include:
- Revenue from operations: INR 696.85 Crore
- Total Income: INR 803.82 Crore
- Profit before tax: INR 162.89 Crore
- Profit for the period: INR 130.86 Crore
IGST Refund Notices
The board addressed show cause notices received from the Deputy Commissioner (SGST) Mandideep Circle, Bhopal Division-2, concerning IGST refunds for fiscal years 2019-20 and 2020-21, potentially involving INR 282.34 Crore for each period. HEG Limited expressed confidence that the refunds are legitimate and expects a favorable resolution.
Bhilwara Infotechnology Stake Sale
Bhilwara Infotechnology Limited (BIL), a wholly-owned subsidiary, intends to sell its 26% stake in Texnere India Private Limited, based on a valuation report from a SEBI-registered Merchant Banker.
Source: BSE
