HEG Limited’s Board of Directors approved the Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2025, showing consolidated revenue from operations of ₹1,972.48 crore for the nine months. The Board also sanctioned a Corporate Guarantee for TACC Limited‘s credit facilities and appointed Shri Salil Bawa as President – Investor Relations. Furthermore, approval was given for the winding up of a wholly-owned subsidiary’s medical transcription business.
Q3 FY26 Financial Performance Overview
The Board of Directors of HEG Limited, following its meeting on February 10, 2026, reviewed and approved the Unaudited Financial Results for the quarter and nine months ending December 31, 2025. The results were accompanied by a Limited Review Report from the Statutory Auditors.
Standalone Performance Highlights (Nine Months Ended 31-12-2025)
The standalone Total Income for the nine-month period reached ₹2,220.48 crore. Profit/(loss) before tax stood at ₹435.41 crore, resulting in a Profit for the period of ₹343.91 crore. Basic Earnings Per Share (EPS) for the nine months was ₹17.82.
Consolidated Performance Highlights (Nine Months Ended 31-12-2025)
On a consolidated basis, Total Income for the nine months was ₹2,253.65 crore. Profit/(loss) before tax & share of associates was ₹460.10 crore. The reported Profit for the period was ₹455.13 crore, with Basic EPS recorded at ₹23.58.
Key Corporate Decisions and Approvals
The Board sanctioned four major items during the meeting:
- Corporate Guarantee for TACC Limited: Approval was granted for a Corporate Guarantee in favour of the State Bank of India to secure credit facilities for TACC Limited, a wholly-owned subsidiary. The facilities include a Rupee Term Loan (RTL) of ₹1,230 crore, a Capex Letter of Credit (LC) of ₹450 crore, and a Credit Exposure Limit (CEL) of ₹9 crore.
- Executive Appointment: Shri Salil Bawa was approved as President – Investor Relations, effective February 10, 2026, joining the Senior Management team. Mr. Bawa is a senior communications professional with over 25 years of experience.
- Winding Up of Subsidiary Business: Approval was granted for the winding up and discontinuation of the Medical Transcription Business of Bhilwara Infotechnology Limited, effective March 1, 2026. The business contributed ₹435.86 lakhs (0.20% of Standalone Turnover) during the last financial year.
- Subsidiary Investment Transfer: Approval was given for the transfer of a 51% equity stake held by Bhilwara Energy Limited (BEL) in Malana Power Company Limited (“MPCL”) to Chango Yangthang Hydro Power Limited (“CYHPL”), a wholly-owned subsidiary of BEL. This is in furtherance of previous intimations regarding the allotment of 4,00,00,000 Optionally Convertible Debentures (OCDs) aggregating to ₹400 crore in TACC Limited.
Segment Performance Insights
In the Standalone Segment Results, the Graphite segment remained the primary revenue driver, contributing significantly to the Profit before Tax of ₹180.10 crore for the quarter ended 31-12-2025. The report also notes that the Power segment operations are seasonal, primarily active from the second quarter onwards.
Auditor Review and Other Disclosures
The Independent Auditor’s Review Report confirms that the results reflect the implementation of the new Labour Codes, which resulted in an increased provision for employee benefits of ₹2.06 crore recognized during the nine-month period.
Regarding the ongoing Composite Scheme of Arrangement involving the demerger of the Graphite Business, the Board noted that pending final approvals from the NCLT, no adjustments have been made to the current unaudited results.
Source: BSE
