HEG Advanced Materials Limited held a board meeting on November 3, 2026, approving its unaudited financial results for the quarter and half-year ended September 30, 2026. Key decisions include the formulation of an Employee Stock Option Plan 2026, the designation of senior management personnel, and the approval of significant expansion projects, including increased anode project capacity and a new crucible manufacturing plant.
Board Meeting Outcome and Financial Results
HEG Advanced Materials Limited announced the outcome of its Board Meeting held on November 3, 2026. The Board took on record the unaudited financial results (Standalone and Consolidated) for the quarter and half-year ended September 30, 2026, along with the limited review report from M/s SCV & Co. LLP.
Employee Stock Option Plan Approved
A significant development was the approval and adoption of the “HEG Advanced Materials Limited Employee Stock Option Plan 2026”. This plan is designed to grant employee stock options to eligible employees of the Company and its subsidiaries, subject to shareholder and regulatory approvals. The total number of options to be granted is 98,93,970.
Senior Management Appointments
Based on the recommendation of the Nomination & Remuneration Committee, Shri Hiren Pravin Shah, Managing Director & CEO of Replus Engitech Private Limited, and Shri Ankur Khaitan, Managing Director & CEO of TACC Limited, have been designated as Senior Management Personnel.
Subsidiary Operations and Restructuring
The Board also approved the closure of LNJ Trading FZCO, a foreign subsidiary in Dubai, as part of a rationalization of the Group’s overseas corporate structure. Additionally, the cessation of M/s. S.L. Chhajed & Co. as the Company’s Internal Auditor was noted, with M/s BGJC & Associates LLP appointed as the new Internal Auditor for FY 2026-27.
Expansion and Project Approvals
Several critical expansion and project-related approvals were granted:
- Anode Project Expansion: Revised cost for Phase-1 completion of the 20,000 MT Anode project is ~Rs. 2,350 crore, targeting COD by June 2027. An expansion plan to increase capacity from 20,000 MT to 44,000 MT has an estimated cost of ~Rs. 1606 crore, targeting COD by March 2029.
- Crucible Manufacturing Plant: Approval for setting up a new plant to manufacture 80,000 units P.A. of Crucible at an estimated cost of ~Rs. 475 crore, targeting COD by September 2028.
- Graphene Materials Plant: Approval for setting up a manufacturing plant of 500 MT Graphene in two phases at an estimated cost of ~Rs. 500 crore, targeting COD by September 2028.
Loan and Corporate Structure Changes
The Board approved a grant of an additional loan of Rs. 50 crore (revolving) to its subsidiary, Replus Engitech Private Limited. Approval was also given for the alteration of the main object clause of the Memorandum of Association (MOA) to include objects related to Anode, Graphene, crucible, advanced carbon materials, and allied materials, subject to shareholder approval.
Internal Auditor Appointment
Based on the recommendation of the Audit Committee, M/s BGJC & Associates LLP has been appointed as the Internal Auditor of the Company for the Financial Year 2026-27.
Source: BSE
