HEG Ltd. — Interim / Quarterly Report 2023

Aug 17, 2022

17th August, 2022

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PROUD TO BE INDIAN
PRIVILEGED TO BE GLOBAL
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HEG/ SECTT / 2022

1	BSE Limited. 25th Floor, P J Towers Dalal Steet MUMBAI - 400 001. Scrip Code : 509631	2	National Stock Exchange of India Limited Exchange Plaza, 5th Floor Plot No.C/1, G Block, Bandra - Kurla Complex Bandra (E),MUMBAI - 400 051. Scrip Code : HEG

Sub: Investors presentation on the Un-audited Financial Results of the Company for the quarter ended 30[th ] June, 2022.

Dear Sirs,

Please find enclosed a copy of Investors Presentation on the Un-audited Financial Results of the Company for the quarter ended 30th June, 2022 for your information and record please.

The copy of same is also being uploaded on the website of the Company.

Thanking you,

Yours faithfully, For HEG Limited ---..:: /�4•audhary any Secretary 263 heg.investor@lnjbhilwara.com

Encl: As above

HEG LIMITED

Regd. Office :

:, ► uv** ., 1 .. , - l 1a2ti**

Mandideep (Near Bhopal) Distt. Raisen - 462046 (Madhya Pradesh), India Tel.: +91-7480-405500, 233524 to 233527 t Fax:+91-7480-233522 � lt-[UV] GSTN No.: 23AAACH6184K1ZH ., I ., Website: www.hegltd.com - , 78 2ti

Corporate Office : Bhilwara Towers, A-12, Sector-1 Noida - 201 301 (NCR-Delhi), India Tel.: +91-120-4390300 (EPABX) Fax:+91-120-4277841 GSTN No.: 09AAACH6184K2Z6 Website: www.lnjbhilwara.com

Corporate Identification No.: L23109MP1972PLC008290

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HEG LIMITED Investor Presentation

Performance Highlights Q1 of FY 2022-23

HEG Limited – Profile

• HEG Limited is a leading graphite electrode manufacturer & exporter globally.

• Exports approximately 70% of its production to about 35 countries around the world.

• Diversified customers - supplying large portion of production to top 25 steel companies of the world.

• Graphite electrodes manufacturing plant capacity of 80,000 tons per annum located at Mandideep in MP, India - is the largest single-site facility in the world.

• Expansion from 80,000 tons to 100,000 tons going on in full swing and expected to be complete by end Dec’22 and commercial production to start in Jan-March’23 quarter.

• Captive power generation capacity of around 76.5 mw (2 thermal power plants & 1 hydro power plant)

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HEG Ltd © LNJ Bhilwara Group
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World’s Largest Single Site Graphite Electrode Plant
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Gra hite Electrode GE Industr – Our Uni ue Stren ths p ( ) y q g

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• GE- An indispensable material for Electric Arc Furnaces (EAF) for Steel production

• They are used as electrical conductors in Electric Arc Furnaces to generate heat to melt steel scrap.

• High Entry Barrier – HEG the last new entrant in the world -1976

• EAF Steel emits one fourth the carbon emission in the environment as compared to same Steel produced by traditional Blast Furnaces

• World production of Steel, through EAF without China, is around 47% of total, while China’s production through EAF currently is around 12 % and is likely to go up to around 15-20% by 2025.

HEG Ltd © LNJ Bhilwara Group

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TOP 10 Crude Steel - Producin Countries g

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Sr. no.	Country	Jan-June'22	Jan-June'21		YoY in %		Jan-Mar'22	Apr-Jun'22		QoQ in %	QoQ in %
1	China	526.9	563.5		(6.5)%		246.3	280.1		13.7%
2	India	63.2	58.1		8.8%		32.2	31.0			(3.7)%
3	Japan	46.0	48.1		(4.3)%		23.0	23.0		0.0%
4	United States	41.2	42.1		(2.2)%		20.2	20.9			3.5%
5	Russia	35.4	38.2		(7.2)%		18.3	17.1		(6.6)%
6	South Korea	33.8	35.2		(3.9)%		16.9	16.9		0.0%
7	Germany	19.6	20.7		(5.6)%		9.8	9.8		0.0%
8	Turkey	19.0	19.9		(4.6)%		9.4	9.5			1.1%
9	Brazil	17.4	17.9		(2.9)%		8.6	8.8			2.3%
10	Iran	13.6	15.3		(10.8)%		6.9	6.7			(2.9)%
	World	949.4	1,004.8		(5.5)%		459.3	489.6		6.6%
	World Excl. China	422.6	441.3		(4.2)%		213.0	209.5			(1.6)%

Note : Above data are estimates from the World Steel Association and may be amended with the next month's production update.

HEG Ltd © LNJ Bhilwara Group

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Steel Industr Outlook y

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• Global crude steel output declined by 5.5% in the first six months of 2022, with steel production declining year on year in all major steel producing regions except India (+8.8% Y-o-Y).

• According to the World Steel Association (WSA), worldwide steel demand will be subdued in 2022 (+0.4% year on year), while India's steel demand growth would be the greatest among major steel consuming nations, at 7.5%.

• Steel prices have moderated in the April-June’22 timeframe due to a slowdown in global demand and restriction.

• Rising energy costs and inflationary pressure on the economic growth due to Russia - Ukraine conflict have lowered consumer confidence, particularly in the EU.

• China steel exports have increased but are still down year to date; nevertheless, export volumes are strong typically from April to June.

HEG Ltd © LNJ Bhilwara Group

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Financial Sna shot Standalone p ( )

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in Rs. Crore (except EPS)

PARTICULARS	Q1 FY 22-23	FY 21-22	FY 20-21	FY 19-20
REVENUE FROM OPERATIONS	722	2202	1256	2149
EBITDA*	205	607	54	138
EBIT	184	527	(19)	66
PAT	134	391	(25)	53
EPS	34.61	101.20	(6.56)	13.83
EBITDA Margin (%)	28%	28%	4%	6%
PAT Margin (%)	19%	18%	(2%)	2%

• EBITDA includes Other Income

HEG Ltd © LNJ Bhilwara Group

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Quarterl Performance Trend Standalone y ( )

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• EBITDA includes Other Income

HEG Ltd © LNJ Bhilwara Group

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Investments and Borrowin s Standalone g ( )

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• Investments including Cash & Cash equivalents and excluding investment in Associates.

HEG Ltd © LNJ Bhilwara Group

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Financial Results for the Quarter ended 30[th] June 2022 Standalone ( Rs. cr)

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Sl. No.	Particulars	Quarter Ended	Quarter Ended	Quarter Ended	Year Ended
		30-06-2022	31-03-2022	30-06-2021	31-03-2022
		Unaudited	Audited	Unaudited	Audited
I II III IV V VI VII	Revenue from Operations	721.95	673.06	413.69	2,201.61
	Other Income	21.33	17.40	22.06	79.55
	Total Income(I+II)	743.28	690.46	435.75	2,281.16
	Expenses Cost of materials consumed Changes in inventories of finished goods, work-in- progress and stock-in-trade Employee benefits expense Finance cost Depreciation and amortisation expense Power and Fuel (Net of Interdivisional Purchases) Other Expenses Total expenses	330.93 (47.79) 23.17 4.03 21.00 85.58 146.04 562.96	314.27 (70.25) 19.56 1.00 21.39 77.71 174.88 538.56	160.64 19.38 17.88 1.17 18.73 56.06 87.32 361.18	940.42 (111.41) 80.00 7.49 79.29 271.11 494.26 1,761.16
	Profit/(Loss) before exceptional items and tax(III-IV)	180.32	151.90	74.57	520.00
	Exceptional Items	-	-	-	-
	Profit/(Loss) before Tax(V-VI)	180.32	151.90	74.57	520.00

HEG Ltd © LNJ Bhilwara Group

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	Financial Results for the Quarter ended 30th June 2022 Standalone ( Rs. cr)	Financial Results for the Quarter ended 30th June 2022 Standalone ( Rs. cr)	Financial Results for the Quarter ended 30th June 2022 Standalone ( Rs. cr)	Financial Results for the Quarter ended 30th June 2022 Standalone ( Rs. cr)	Financial Results for the Quarter ended 30th June 2022 Standalone ( Rs. cr)	Financial Results for the Quarter ended 30th June 2022 Standalone ( Rs. cr)
	Sl. No.	Particulars	Quarter Ended			Year Ended
			30-06-2022	31-03-2022	30-06-2021	31-03-2022
			Unaudited	Audited	Unaudited	Audited
	VII	Profit/(Loss) before Tax(V-VI)	180.32	151.90	74.57	520.00
	VIII IX X XI XII XIII XIV	Tax expense (1) Current Tax (2) Deferred Tax	55.31 (8.55)	39.04 (0.39)	17.34 1.43	129.56 (0.14)
		Net Profit/(Loss) for theperiod(VII-VIII)	133.56	113.25	55.80	390.58
		Other Comprehensive Income A (i) Items that will not be reclassified to profit or loss (ii) Income tax relating to items that will not be reclassified to profit or loss B (i) Items that will be reclassified to profit or loss (ii) Income tax relating to items that will be reclassified toprofit or loss	- - - -	(0.59) 0.15 - -	- - - -	(1.23) 0.31 - -
		Total Comprehensive Income for theperiod	133.56	112.81	55.80	389.66
		Paid -Up Equity Share Capital ( Face Value ₹ 10/- per share) Other Equity (Excluding Revaluation Reserves) Earnings Per Share (₹) (for the quarters not annualised) - Basic (₹) - Diluted(₹)	38.60 - 34.61 34.61	38.60 - 29.34 29.34	38.60 - 14.46 14.46	38.60 3,738.12 101.20 101.20

HEG Ltd © LNJ Bhilwara Group

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Financial Results for the Quarter ended 30[th] June 2022 Consolidated ( Rs. cr)

Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr) 30-06-2022 31-03-2022 30-06-2021 31-03-2022 Unaudited Audited Unaudited Audited I Revenue from Operations 721.95 673.06 413.69 2,201.61 II Other Income 21.33 17.40 22.06 79.55 III Total Income(I+II) 743.28 690.46 435.75 2281.16 IV Expenses Cost of materials consumed 330.93 314.27 160.64 940.42 Changes in inventories of finished goods, work-in- progress and stock-in-trade (47.79) (70.25) 19.38 (111.41) Employee benefits expense 23.17 19.56 17.88 80.00 Finance cost 4.03 1.00 1.17 7.49 Depreciation and amortisation expense 21.00 21.39 18.73 79.29 Power and Fuel (Net of Interdivisional Purchases) 85.58 77.71 56.06 271.11 Other Expenses 146.04 174.88 87.32 494.26 Total expenses 562.96 538.56 361.18 1761.16 V Profit/(Loss) before exceptional items and tax (III-IV) 180.32 151.90 74.57 520.00 VI Exceptional Items - - - - VII Profit/(Loss) before Tax & Share of profit/loss of Associates (V-VI) 180.32 151.90 74.57 520.00 VIII Share of Profit/ (loss) of associates 25.44 16.02 0.97 40.47 IX Profit/(Loss) before Tax(VII+VIII) 205.76 167.92 75.54 560.47 Sl. No. Particulars Quarter Ended Year Ended	Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr) 30-06-2022 31-03-2022 30-06-2021 31-03-2022 Unaudited Audited Unaudited Audited I Revenue from Operations 721.95 673.06 413.69 2,201.61 II Other Income 21.33 17.40 22.06 79.55 III Total Income(I+II) 743.28 690.46 435.75 2281.16 IV Expenses Cost of materials consumed 330.93 314.27 160.64 940.42 Changes in inventories of finished goods, work-in- progress and stock-in-trade (47.79) (70.25) 19.38 (111.41) Employee benefits expense 23.17 19.56 17.88 80.00 Finance cost 4.03 1.00 1.17 7.49 Depreciation and amortisation expense 21.00 21.39 18.73 79.29 Power and Fuel (Net of Interdivisional Purchases) 85.58 77.71 56.06 271.11 Other Expenses 146.04 174.88 87.32 494.26 Total expenses 562.96 538.56 361.18 1761.16 V Profit/(Loss) before exceptional items and tax (III-IV) 180.32 151.90 74.57 520.00 VI Exceptional Items - - - - VII Profit/(Loss) before Tax & Share of profit/loss of Associates (V-VI) 180.32 151.90 74.57 520.00 VIII Share of Profit/ (loss) of associates 25.44 16.02 0.97 40.47 IX Profit/(Loss) before Tax(VII+VIII) 205.76 167.92 75.54 560.47 Sl. No. Particulars Quarter Ended Year Ended	Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr) 30-06-2022 31-03-2022 30-06-2021 31-03-2022 Unaudited Audited Unaudited Audited I Revenue from Operations 721.95 673.06 413.69 2,201.61 II Other Income 21.33 17.40 22.06 79.55 III Total Income(I+II) 743.28 690.46 435.75 2281.16 IV Expenses Cost of materials consumed 330.93 314.27 160.64 940.42 Changes in inventories of finished goods, work-in- progress and stock-in-trade (47.79) (70.25) 19.38 (111.41) Employee benefits expense 23.17 19.56 17.88 80.00 Finance cost 4.03 1.00 1.17 7.49 Depreciation and amortisation expense 21.00 21.39 18.73 79.29 Power and Fuel (Net of Interdivisional Purchases) 85.58 77.71 56.06 271.11 Other Expenses 146.04 174.88 87.32 494.26 Total expenses 562.96 538.56 361.18 1761.16 V Profit/(Loss) before exceptional items and tax (III-IV) 180.32 151.90 74.57 520.00 VI Exceptional Items - - - - VII Profit/(Loss) before Tax & Share of profit/loss of Associates (V-VI) 180.32 151.90 74.57 520.00 VIII Share of Profit/ (loss) of associates 25.44 16.02 0.97 40.47 IX Profit/(Loss) before Tax(VII+VIII) 205.76 167.92 75.54 560.47 Sl. No. Particulars Quarter Ended Year Ended	Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr) 30-06-2022 31-03-2022 30-06-2021 31-03-2022 Unaudited Audited Unaudited Audited I Revenue from Operations 721.95 673.06 413.69 2,201.61 II Other Income 21.33 17.40 22.06 79.55 III Total Income(I+II) 743.28 690.46 435.75 2281.16 IV Expenses Cost of materials consumed 330.93 314.27 160.64 940.42 Changes in inventories of finished goods, work-in- progress and stock-in-trade (47.79) (70.25) 19.38 (111.41) Employee benefits expense 23.17 19.56 17.88 80.00 Finance cost 4.03 1.00 1.17 7.49 Depreciation and amortisation expense 21.00 21.39 18.73 79.29 Power and Fuel (Net of Interdivisional Purchases) 85.58 77.71 56.06 271.11 Other Expenses 146.04 174.88 87.32 494.26 Total expenses 562.96 538.56 361.18 1761.16 V Profit/(Loss) before exceptional items and tax (III-IV) 180.32 151.90 74.57 520.00 VI Exceptional Items - - - - VII Profit/(Loss) before Tax & Share of profit/loss of Associates (V-VI) 180.32 151.90 74.57 520.00 VIII Share of Profit/ (loss) of associates 25.44 16.02 0.97 40.47 IX Profit/(Loss) before Tax(VII+VIII) 205.76 167.92 75.54 560.47 Sl. No. Particulars Quarter Ended Year Ended	Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr) 30-06-2022 31-03-2022 30-06-2021 31-03-2022 Unaudited Audited Unaudited Audited I Revenue from Operations 721.95 673.06 413.69 2,201.61 II Other Income 21.33 17.40 22.06 79.55 III Total Income(I+II) 743.28 690.46 435.75 2281.16 IV Expenses Cost of materials consumed 330.93 314.27 160.64 940.42 Changes in inventories of finished goods, work-in- progress and stock-in-trade (47.79) (70.25) 19.38 (111.41) Employee benefits expense 23.17 19.56 17.88 80.00 Finance cost 4.03 1.00 1.17 7.49 Depreciation and amortisation expense 21.00 21.39 18.73 79.29 Power and Fuel (Net of Interdivisional Purchases) 85.58 77.71 56.06 271.11 Other Expenses 146.04 174.88 87.32 494.26 Total expenses 562.96 538.56 361.18 1761.16 V Profit/(Loss) before exceptional items and tax (III-IV) 180.32 151.90 74.57 520.00 VI Exceptional Items - - - - VII Profit/(Loss) before Tax & Share of profit/loss of Associates (V-VI) 180.32 151.90 74.57 520.00 VIII Share of Profit/ (loss) of associates 25.44 16.02 0.97 40.47 IX Profit/(Loss) before Tax(VII+VIII) 205.76 167.92 75.54 560.47 Sl. No. Particulars Quarter Ended Year Ended	Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr) 30-06-2022 31-03-2022 30-06-2021 31-03-2022 Unaudited Audited Unaudited Audited I Revenue from Operations 721.95 673.06 413.69 2,201.61 II Other Income 21.33 17.40 22.06 79.55 III Total Income(I+II) 743.28 690.46 435.75 2281.16 IV Expenses Cost of materials consumed 330.93 314.27 160.64 940.42 Changes in inventories of finished goods, work-in- progress and stock-in-trade (47.79) (70.25) 19.38 (111.41) Employee benefits expense 23.17 19.56 17.88 80.00 Finance cost 4.03 1.00 1.17 7.49 Depreciation and amortisation expense 21.00 21.39 18.73 79.29 Power and Fuel (Net of Interdivisional Purchases) 85.58 77.71 56.06 271.11 Other Expenses 146.04 174.88 87.32 494.26 Total expenses 562.96 538.56 361.18 1761.16 V Profit/(Loss) before exceptional items and tax (III-IV) 180.32 151.90 74.57 520.00 VI Exceptional Items - - - - VII Profit/(Loss) before Tax & Share of profit/loss of Associates (V-VI) 180.32 151.90 74.57 520.00 VIII Share of Profit/ (loss) of associates 25.44 16.02 0.97 40.47 IX Profit/(Loss) before Tax(VII+VIII) 205.76 167.92 75.54 560.47 Sl. No. Particulars Quarter Ended Year Ended	Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr) 30-06-2022 31-03-2022 30-06-2021 31-03-2022 Unaudited Audited Unaudited Audited I Revenue from Operations 721.95 673.06 413.69 2,201.61 II Other Income 21.33 17.40 22.06 79.55 III Total Income(I+II) 743.28 690.46 435.75 2281.16 IV Expenses Cost of materials consumed 330.93 314.27 160.64 940.42 Changes in inventories of finished goods, work-in- progress and stock-in-trade (47.79) (70.25) 19.38 (111.41) Employee benefits expense 23.17 19.56 17.88 80.00 Finance cost 4.03 1.00 1.17 7.49 Depreciation and amortisation expense 21.00 21.39 18.73 79.29 Power and Fuel (Net of Interdivisional Purchases) 85.58 77.71 56.06 271.11 Other Expenses 146.04 174.88 87.32 494.26 Total expenses 562.96 538.56 361.18 1761.16 V Profit/(Loss) before exceptional items and tax (III-IV) 180.32 151.90 74.57 520.00 VI Exceptional Items - - - - VII Profit/(Loss) before Tax & Share of profit/loss of Associates (V-VI) 180.32 151.90 74.57 520.00 VIII Share of Profit/ (loss) of associates 25.44 16.02 0.97 40.47 IX Profit/(Loss) before Tax(VII+VIII) 205.76 167.92 75.54 560.47 Sl. No. Particulars Quarter Ended Year Ended
	Sl. No.	Particulars	Quarter Ended			Year Ended
			30-06-2022	31-03-2022	30-06-2021	31-03-2022
			Unaudited	Audited	Unaudited	Audited
	I II III IV V VI VII VIII IX	Revenue from Operations	721.95	673.06	413.69	2,201.61
		Other Income	21.33	17.40	22.06	79.55
		Total Income(I+II)	743.28	690.46	435.75	2281.16
		Expenses Cost of materials consumed Changes in inventories of finished goods, work-in- progress and stock-in-trade Employee benefits expense Finance cost Depreciation and amortisation expense Power and Fuel (Net of Interdivisional Purchases) Other Expenses Total expenses	330.93 (47.79) 23.17 4.03 21.00 85.58 146.04 562.96	314.27 (70.25) 19.56 1.00 21.39 77.71 174.88 538.56	160.64 19.38 17.88 1.17 18.73 56.06 87.32 361.18	940.42 (111.41) 80.00 7.49 79.29 271.11 494.26 1761.16
		Profit/(Loss) before exceptional items and tax (III-IV)	180.32	151.90	74.57	520.00
		Exceptional Items	-	-	-	-
		Profit/(Loss) before Tax & Share of profit/loss of Associates (V-VI)	180.32	151.90	74.57	520.00
		Share of Profit/ (loss) of associates	25.44	16.02	0.97	40.47
		Profit/(Loss) before Tax(VII+VIII)	205.76	167.92	75.54	560.47

HEG Ltd © LNJ Bhilwara Group

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Financial Results for the Quarter ended 30[th] June 2022 Consolidated ( Rs. cr)

Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr)	Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr)	Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr)	Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr)	Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr)	Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr)	Financial Results for the Quarter ended 30th June 2022 Consolidated( Rs. cr)
Sl. No.	Particulars	Quarter Ended			Year Ended
		30-06-2022	31-03-2022	30-06-2021	31-03-2022
		Unaudited	Audited	Unaudited	Audited
IX	Profit/(Loss) before Tax(VII+VIII)	205.76	167.92	75.54	560.47
X XI XII XIII XIV XV XVI	Tax expense (1) Current Tax (2)Deferred Tax	55.31 (8.55)	39.04 (0.39)	17.34 1.43	129.56 (0.14)
	Net Profit/(Loss) for the period(IX-X)	159.00	129.27	56.77	431.05
	Other Comprehensive Income A (i) Items that will not be reclassified to profit or loss (ii) Income tax relating to items that will not be reclassified to profit or loss B (i) Items that will be reclassified to profit or loss (ii) Income tax relating to items that will be reclassified to profit or loss C. Share of Other comprehensive Income of Associates	- - - - 0.02	(0.59) 0.15 - - (0.13)	- - - - 0.07	(1.23) 0.31 - - 0.01
	Total Comprehensive Income for the period	159.02	128.70	56.84	430.14
	Paid -Up Equity Share Capital ( Face Value ₹10/- per share) Other Equity (Excluding Revaluation Reserves) Earnings Per Share (₹) (for the quarters not annualised) - Basic (₹) - Diluted(₹)	38.60 - 41.20 41.20	38.60 - 33.49 33.49	38.60 - 14.71 14.71	38.60 3875.04 111.68 111.68

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Thank You

Mr.Manish Gulati : Executive Director : Mr.Om Prakash Ajmera Group CFO Mr.Gulshan Kr.Sakhuja : CFO HEG Limited Ph: +91 9910103865 Fax: +91 120 254 1575 Email: Manish.gulati@lnjbhilwara.com Gulshan.sakhuja@lnjbhilwara.com

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HEG Ltd © LNJ Bhilwara Group

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