HEG Limited’s Board approved the Unaudited Financial Results for the quarter and nine months ending December 31, 2025. Key actions included granting a Corporate Guarantee to the State Bank of India on behalf of its wholly-owned subsidiary, TACC Limited, for credit facilities up to ₹1,739 crore. Furthermore, the Board approved the winding up of the medical transcription business of Bhilwara Infotechnology Limited and the transfer of 51% equity stake in Malana Power Company Limited to Chango Yangthang Hydro Power Limited. The company also announced the appointment of Shri Salil Bawa as President – Investor Relations.
HEG Board Meeting Outcomes: February 10, 2026
The Board of Directors of HEG Limited convened on February 10, 2026, to approve several significant corporate actions and review financial performance. The meeting concluded at 6:00 pm, following its commencement at 2:00 pm.
Financial Results Approval
The Board has approved and taken on record the Un-audited Financial Results (Standalone and Consolidated) for the quarter and nine months ended December 31, 2025, along with the Limited Review Report from the Statutory Auditors.
Standalone Highlights (Q3 FY2025-26 vs Q3 FY2024-25):
- Revenue from operations: ₹655.66 crore vs ₹477.07 crore.
- Profit before tax: ₹180.10 crore vs ₹133.68 crore.
- Basic Earnings Per Share: ₹7.32 vs ₹5.09.
Consolidated Highlights (Q3 FY2025-26 vs Q3 FY2024-25):
- Total Income: ₹758.29 crore vs ₹589.96 crore.
- Profit before tax: ₹246.15 crore vs ₹118.57 crore.
- Basic Earnings Per Share: ₹10.72 vs ₹4.32.
Corporate Guarantee for Subsidiary TACC Limited
Approval was granted for a Corporate Guarantee in favour of the State Bank of India to support credit facilities availed by TACC Limited, a wholly-owned subsidiary. The facilities include:
- Rupee Term Loan (RTL) of ₹1,230 crore.
- Capex Letter of Credit (LC) of ₹450 crore (sub-limit).
- Credit Exposure Limit (CEL) of ₹9 crore.
This guarantee is Unconditional, Comprehensive, and Irrevocable until the loan currency expires, and the transaction is noted to be carried out on an arm’s length basis, despite common directorships among related entities.
Strategic Reorganization and Divestment
Winding Up of Medical Transcription Business
The Board approved the winding up and discontinuation of the Medical Transcription Business of Bhilwara Infotechnology Limited, effective March 1, 2026. Reasons cited include the increasing adoption of AI technology, reduction in manual transcription demand, and the decision by the sole client to wind up operations in India, resulting in cash losses. The turnover contributed by this division was ₹435.86 lakhs (0.20% of Standalone Turnover) in the last financial year.
Transfer of Equity Stake in Malana Power Company Limited (MPCL)
Approval was given for the transfer of 51% Equity Stake held by Bhilwara Energy Limited (an Associate Company) in MPCL to Chango Yangthang Hydro Power Limited (CYHPL), a wholly-owned subsidiary of BEL. This transfer is in exchange for the subscription of Optionally Convertible Debentures (OCDs) in CYHPL, aggregating to ₹400,00,00,000 (Four Hundred Crores). This strategic move aims at the consolidation of hydro power assets into CYHPL.
Senior Management Appointment
The appointment of Shri Salil Bawa as President – Investor Relations (Senior Management Personnel) was approved, effective from February 10, 2026. Mr. Bawa brings over 25+ years of experience in investor relations and corporate communications, previously serving as President and Group Head Investor Relations for Welspun Group.
Other Disclosures
The company noted that there is No default concerning outstanding loans or debt securities as of December 31, 2025. Further, the disclosure regarding the Composite Scheme of Arrangement involving HEG Graphite Limited remains subject to final approvals from the NCLT, with no adjustments made to the current results pending receipt.
Source: BSE
