HEG Limited announced the outcome of its Board meeting held on February 10, 2026. Key approvals included taking on record the Un-audited Financial Results (Standalone and Consolidated) for the quarter and nine months ending December 31, 2025. The Board also sanctioned a Corporate Guarantee for credit facilities availed by its wholly-owned subsidiary, TACC Limited, and appointed Shri Salil Bawa as President – Investor Relations. Furthermore, the Board noted the allotment of ₹400 Crores worth of Optionally Convertible Debentures (OCDs) to TACC Limited.
Q3 FY26 Financial Results Officially Recorded
The Board of Directors of HEG Limited met on February 10, 2026, and formally approved the Un-audited Financial Results for the quarter and nine months ended December 31, 2025. The results were accompanied by a Limited Review Report from the Statutory Auditors, M/s SCV & Co. LLP.
Standalone Performance Highlights (Q3 FY26 vs. Q2 FY26)
- Total Income for Q3 FY26 stood at ₹756.20 Crores, compared to ₹803.82 Crores in the preceding quarter (Q2 FY26).
- Profit/(loss) before tax for the period stood at ₹180.10 Crores for Q3 FY26, slightly up from ₹162.89 Crores in Q2 FY26.
- Basic Earnings Per Share (EPS) for the quarter was ₹7.32, against ₹6.78 in the previous quarter.
Consolidated Performance Highlights (Q3 FY26 vs. Q2 FY26)
- Consolidated Total Income for Q3 FY26 was ₹758.29 Crores, down from ₹811.51 Crores in Q2 FY26.
- Profit/(loss) before tax (including share of associates) reached ₹246.15 Crores in Q3 FY26, compared to ₹175.23 Crores in Q2 FY26.
- Basic Consolidated EPS for the quarter was ₹10.72, significantly higher than the ₹7.43 recorded in Q2 FY26.
Key Corporate Actions Approved
Guarantee for Subsidiary TACC Limited
The Board granted approval for a Corporate Guarantee in favour of the State Bank of India (Lender). This guarantee supports credit facilities to be availed by TACC Limited, a wholly-owned subsidiary. The facilities comprise 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. The transaction is confirmed to be carried out on an arm’s length basis.
Appointment in Senior Management
Following the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Shri Salil Bawa as President – Investor Relations, effective February 10, 2026. Mr. Bawa is a seasoned professional with over 25+ years of experience in investor relations and corporate communications.
Subscription of Subsidiary Debt
In continuation of previous disclosures, the Board noted the allotment of 4,00,00,000 Optionally Convertible Debentures (OCDs) of TACC Limited, fully paid-up, aggregating to ₹400,00,00,000.
Winding Up of Medical Transcription Business
Approval was granted for the winding up and discontinuation of the Medical Transcription Business of Bhilwara Infotechnology Limited, a wholly-owned subsidiary, effective March 1, 2026. Reasons cited include the increasing adoption of AI technology and a drastic downward trend in revenue.
Transfer of Equity Stake in Malana Power Company
Approval was given for the transfer of a 51% equity stake held by Bhilwara Energy Limited (an Associate Company) in Malana Power Company Limited (“MALANA”) to Chango Yangthang Hydro Power Limited (“CYHPL”), a wholly-owned subsidiary of BEL.
Auditor Commentary and Other Disclosures
The Auditors noted that the implementation of new Labour Codes resulted in an increase of ₹7.12 crores in the provision for gratuity for the consolidated group.
Regarding the ongoing Composite Scheme of Arrangement concerning the Graphite Business demerger, the Board confirmed that no adjustments have been made to the current results pending final approvals from the NCLT.
The figures for the Power segment are noted to be seasonal, with intermittent operation in Q1 based on irrigation requirements.
Source: BSE
