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HEG Ltd. Interim / Quarterly Report 2023

Nov 16, 2022

61624_rns_2022-11-16_da1ade6d-bc13-4ee3-94ec-458b93f059ce.pdf

Interim / Quarterly Report

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HEG/SECTT/2022

16[th] November, 2022

1 BSE Limited
25thFloor, P J Towers
Dalal Street
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 & half year ended 30[th] September, 2022.

Dear Sirs,

Please find enclosed a copy of Investors Presentation on the Un-audited Financial Results of the Company for the quarter & half year ended 30[th] September, 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

VIVEK Digitally signed by VIVEK CHAUDHARY CHAUDHARY Date: 2022.11.16 22:45:30 +05'30'

Vivek Chaudhary Company Secretary A-13263 [email protected]

Encl: As above

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HEG LIMITED Investor Presentation

Performance Highlights Q2 of FY 2022-23

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HEG is part of LNJ Bhilwara group a diversified, reputed and large Indian business house having more than five decades of industrial experience and presence in

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THE FAMILY TREE

IT Enabled Services

Buds flower in our service sector offerings.

  • Bhilwara Infotech Ltd. – IT Software

  • Bhilwara Scribe Pvt. Ltd. – Medical transcription

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Textiles

The roots of our Group heritage

  • RSWM Ltd.

  • Maral Overseas Ltd.

  • BSL Ltd.

  • BMD Pvt. Ltd.

  • Bhilwara Technical Textiles Ltd.

Power Generation & Power Consultancy

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•
•
•
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The branches spread forth, powered by

  • Bhilwara Energy Ltd.

  • Malana Power Company Ltd.

  • AD Hydro Power Ltd.

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Graphite Electrodes

Standing tall, the shaft supports the branches

  • HEG Limited

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HEG Ltd © LNJ Bhilwara Group

2

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 11 % and is likely to go up to around 15-20% by 2025.

HEG Ltd © LNJ Bhilwara Group

3

HEG Limited – Profile

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

  • Exports approximately 70% of its production to about 30 countries around the world.

  • Diversified customers - supplying large portion of production to top 20 steel companies of the world.

  • Graphite electrodes manufacturing plant (capacity of 80,000 tons /Year) located at Mandideep in MP, India - is the largest single-site facility in the world. Further expanding to 100,000 tons by early 2023.

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

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World’s Largest Single Site Graphite Electrode Plant

HEG Ltd © LNJ Bhilwara Group

4

TOP 10 Crude Steel - Producin Countries g

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**Sr. No ** Country Jan-Sep'21 Jan-Sep'22
778.6
93.3
67.8
61.5
54.6
50.5
28.2
27.3
25.9
22.2
1,403.0
624.4		 YoY in %
(3.4)%
6.4%
(6.0)%
(4.3)%
(6.0)%
(4.4)%
(6.0)%
(9.3)%
(5.3)%
9.8%
(4.3)%
(5.3)%		 Apr-Jun'22 Jul-Sep'22
252.3
30.0
21.8
20.4
17.5
16.7
8.7
8.3
8.4
6.8
450.0
197.7		 QoQ in % QoQ in %
1 China 806.0 778.6 (3.4)% 280.1 252.3 (9.9)%
2 India 87.7 93.3 6.4% 31.0 30.0 (3.2)%
3 Japan 72.1 67.8 (6.0)% 23.0 21.8 (5.1)%
4 United States 64.2 61.5 (4.3)% 20.8 20.4 (1.9)%
5 Russia 58.1 54.6 (6.0)% 18.1 17.5 (3.1)%
6 South Korea 52.9 50.5 (4.4)% 16.9 16.7 (1.2)%
7 Germany 30.0 28.2 (6.0)% 9.8 8.7 (11.0)%
8 Turkey 30.1 27.3 (9.3)% 9.6 8.3 (13.6)%
9 Brazil 27.3 25.9 (5.3)% 8.8 8.4 (4.8)%
10 Iran 20.2 22.2 9.8% 8.6 6.8 (20.5)%
World 1,465.4 1,403.0 (4.3)% 493.0 450.0 (8.7)%
World Excl. China 659.3 624.4 (5.3)% 212.9 197.7 (7.1)%

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

5

Steel Industr Outlook y

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  • Global crude steel output declined by 4.3% in the first nine months of 2022 compared to CY 2021, with steel production declining year on year in all major steel producing regions except India (+6.4%) and Iran (+9.8%).

  • The Steel Industry outlook is looking bearish in the short term.

  • World Steel Association (WSA) in its October update of its Short Range Outlook (SRO),forecasts that steel demand will contract by 2.3% in 2022 to reach 1,796.7 Mt, after increasing by 2.8% in 2021, and will recover by 1.0% in 2023.

  • WSA also stated that if the Ukraine war ended sooner than anticipated, there could be some positive effects in 2023.

  • India's steel demand could show high growth due to strong urban consumption and infrastructure spending.

  • Needle Coke pricing has remained almost unchanged over the last three quarters, with adequate supplies available in the market.

HEG Ltd © LNJ Bhilwara Group

6

Financial Snapshot (Standalone)

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in Rs. Crore (except EPS)

PARTICULARS Q2
FY 22-23		 Q1
FY 22-23		 FY 21-22 FY 20-21 FY 19-20
REVENUE FROM OPERATIONS 598 722 2202 1256 2149
EBITDA* 198 205 607 54 138
EBIT 175 184 527 (19) 66
PAT 130 134 391 (25) 53
EPS 33.66 34.61 101.20 (6.56) 13.83
EBITDA Margin (%) 33% 28% 28% 4% 6%
PAT Margin (%) 22% 19% 18% (2%) 2%
  • EBITDA includes Other Income

HEG Ltd © LNJ Bhilwara Group

7

Quarterly Performance Trend (Standalone)

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  • EBITDA includes Other Income

HEG Ltd © LNJ Bhilwara Group

8

Investments and Borrowings (Standalone)

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

HEG Ltd © LNJ Bhilwara Group

9

Financial Results for the Quarter & Half year ended 30[th] Sep 2022 Standalone (in Rs. Cr)

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Sl. No. Particulars Quarter Ended Quarter Ended Quarter Ended Half Year Ended Half Year Ended Year Ended
30-09-2022 30-06-2022 30-09-2021 30-09-2022 30-09-2021 31-03-2022
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
I
II
III
IV
V
VI
VII		 Revenue from Operations 598.14 721.95 517.56 1,320.09 931.25 2,201.61
Other Income 19.57 21.33 25.35 40.90 47.41 79.55
Total Income (I+II) 617.71 743.28 542.91 1,360.99 978.66 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
Other Expenses
Total expenses		 340.51

(159.89)
22.14
6.88
23.17
79.85
136.74
449.40		 330.93
(47.79)
23.17
4.03
21.00
85.58
146.04
562.96		 191.26
0.11
21.35
1.15
18.12
60.96
101.95
394.90		 671.45
(207.68)
45.30
10.91
44.17
165.43
282.78
1,012.36		 351.90
19.49
39.22
2.32
36.85
117.02
189.27
756.08		 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) 168.31 180.32 148.01 348.63 222.58 520.00
Exceptional Items - - - - - -
Profit/(Loss) before Tax (V-VI) 168.31 180.32 148.01 348.63 222.58 520.00

HEG Ltd © LNJ Bhilwara Group

10

Financial Results for the Quarter & Half year ended 30[th] Sep 2022 Standalone

(in Rs. Cr)

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Financial Results for the Quarter & Half year ended 30th Sep 2022 Standalone
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Standalone
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Standalone
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Standalone
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Standalone
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Standalone
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Standalone
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Standalone
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Standalone
(in Rs. Cr)
Sl. No. Particulars Quarter Ended Half Year Ended Year Ended
30-09-2022 30-06-2022 30-09-2021 30-09-2022 30-09-2021 31-03-2022
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
VII Profit/(Loss) before Tax (V-VI) 168.31 180.32 148.01 348.63 222.58 520.00
VIII
IX
X
XI
XII
XIII
XIV		 Tax expense
(1) Current Tax
(2)Deferred Tax		 33.16
5.25		 55.31
(8.55)		 35.88
(0.87)		 88.47
(3.30)		 53.22
0.56		 129.56
(0.14)
Profit/(Loss) for the period (VII-VIII) 129.90 133.56 113.00 263.46 168.80 390.58
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 to
profit or loss		 (0.36)

0.09
-
-		 -
-
-
-		 (0.64)
0.16
-
-		 (0.36)
0.09
-
-		 (0.64)
0.16
-
-		 (1.23)
0.31
-
-
Total Comprehensive Income for the period (IX+X) 129.63 133.56 112.52 263.19 168.32 389.66
Paid -Up Equity Share Capital ( Face Value`10/- per share)
Other Equity (Excluding Revaluation Reserves)
Earnings Per Share (₹) (not annualised)
- Basic (Rs.)
- Diluted(Rs.)		 38.60
33.66
33.66		 38.60
34.61
34.61		 38.60
29.28
29.28		 38.60
68.26
68.26		 38.60
43.74
43.74		 38.60
3738.12
101.20
101.20

HEG Ltd © LNJ Bhilwara Group

11

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Financial Results for the Quarter & Half year ended 30[th] Sep 2022 Consolidated (in Rs. Cr)

Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)
Sl. No. Particulars Quarter Ended Half Year Ended Year Ended
30-09-2022 30-06-2022 30-09-2021 30-09-2022 30-09-2021 31-03-2022
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
I
II
III
IV
V
VI
VII
VIII
IX		 Revenue from Operations 598.14 721.95 517.56 1,320.09 931.25 2,201.61
Other Income 19.57 21.33 25.35 40.90 47.41 79.55
Total Income (I+II) 617.71 743.28 542.91 1,360.99 978.66 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
Other Expenses
Total expenses		 340.51
(159.89)
22.14
6.88
23.17
79.85
136.74
449.40		 330.93
(47.79)
23.17
4.03
21.00
85.58
146.04
562.96		 191.26
0.11
21.35
1.15
18.12
60.96
101.95
394.90		 671.45
(207.68)
45.30
10.91
44.17
165.43
282.78
1,012.36		 351.90
19.49
39.22
2.32
36.85
117.02
189.27
756.08		 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) 168.31 180.32 148.01 348.63 222.58 520.00
Exceptional Items - - - - - -
Profit/(Loss) before Tax & Share ofprofit/loss of Associates
168.31		 180.32 148.01 348.63 222.58 520.00
Share of Profit/(loss) of associates 39.04 25.44 18.51 64.47 19.48 40.47
Profit/(Loss) before Tax(VII+VIII) 207.35 205.76 166.52 413.10 242.06 560.47

HEG Ltd © LNJ Bhilwara Group

12

Financial Results for the Quarter & Half year ended 30[th] Sep 2022 Consolidated (in Rs. Cr)

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Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)		 Financial Results for the Quarter & Half year ended 30th Sep 2022 Consolidated
(in Rs. Cr)
Sl. No. Particulars Quarter Ended Half Year Ended Year Ended
30-09-2022 30-06-2022 30-09-2021 30-09-2022 30-09-2021 31-03-2022
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
IX Profit/(Loss) before Tax(VII+VIII) 207.35 205.76 166.52 413.10 242.06 560.47
X
XI
XII
XIII
XIV
XV
XVI		 Tax expense
(1) Current Tax
(2)Deferred Tax		 33.16
5.25		 55.31
(8.55)		 35.88
(0.87)		 88.47
(3.30)		 53.22
0.56		 129.56
(0.14)
Net Profit/(Loss) for theperiod(IX-X) 168.93 159.00 131.52 327.92 188.28 431.05
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		 (0.36)
0.09

-
-
0.00		 -
-
-
-
0.02		 (0.64)
0.16
-
-
0.02		 (0.36)
0.09
-
-
0.02		 (0.64)
0.16
-
-
0.09		 (1.23)
0.31
-
-
0.01
Total Comprehensive Income for the period (XI+XII) 168.66 159.02 131.05 327.67 187.89 430.14
Paid -Up Equity Share Capital (Face Value`10/- per share)
Other Equity (Excluding Revaluation Reserves)
Earnings Per Share (₹) (not annualised)
- Basic (Rs.)
- Diluted(Rs.)		 38.60
43.77
43.77		 38.60
41.20
41.20		 38.60
34.07
34.07		 38.60
84.96
84.96		 38.60
48.78
48.78		 38.60
3875.04
111.68
111.68

HEG Ltd © LNJ Bhilwara Group

13

Adoption of New Line of Business

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HEG Ltd. is entering into Manufacturing of Graphite Anodes for Lithium-ion cells and its allied and ancillary products through the incorporation of a subsidiary company.

The plant would be made in two phases, spending Rs.1,000 cr in phase 1 over the next 3 years which would cater to 10-12 GWh of cell manufacturing capacity.

In phase 2 the Company plans to double the capacity with another Rs.1,000 cr approx. catering to a total of 20-22 GWh of cell manufacturing capacity.

The Company shall leverage the position of its Parent as a Graphite Industry leader to research and develop next generation Graphite and its specialized derivative materials for clean energy storage and conversion technologies beginning with Li-ion batteries.

It will make significant contributions to the sustainable and technological advancement of our nation and planet in the field of material manufacturing for green energy technologies over the next decade.

As the manufacturing of Graphite Anode for Lithium-ion cells and its allied products is a niche segment, by foray into this segment through the Subsidiary Company, it will help in vertical growth of the company which will in future be beneficial for all its stakeholders.

HEG Ltd © LNJ Bhilwara Group

14

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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: [email protected] [email protected]

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HEG Ltd © LNJ Bhilwara Group

15

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