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HEG Ltd. Investor Presentation 2023

May 31, 2023

61624_rns_2023-05-31_9ccf6fb3-90ef-4498-81b1-731612461765.pdf

Investor Presentation

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HEG/SECTT/2023

31[st] May, 2023

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 Audited Financial Results of the Company for the quarter & year ended 31[st] March, 2023.

Dear Sirs,

Please find enclosed a copy of Investors Presentation on the Audited Financial Results of the Company for the quarter & year ended 31[st] March, 2023 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: 2023.05.31 15:05:41 +05'30'

Vivek Chaudhary Company Secretary A-13263 [email protected]

Encl: As above

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HEG LIMITED Investor Presentation

Performance Highlights Q4 & FY 2022-23

Graphite Electrode (GE)

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  • A consumable for Electric Arc Furnaces (EAF) for Steel production

  • Used as electrical conductors in Electric Arc Furnaces to generate heat to melt steel scrap

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

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

  • As per World Steel Association EAF Steel production (w/o China) has gone up from 44% to 49% between 2015 - 2022 - while China’s production through EAF is around 11% and is likely to go upto around 15-20% by 2025

HEG Ltd © LNJ Bhilwara Group

2

HEG Limited – Unique Strengths

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  • Has been World’s Largest Single Site Graphite Electrode Plant under one roof with a capacity of 80,000 tons pa for a long time.

  • On the verge of completing expansion to 100,000 tons by June 2023(major part of the new capacity already commissioned)

  • Except ours, no additional capacity announced by any other company

  • Exporting approx 65 - 70% of its production to about 35 countries around the world consistently since more than 20 years

  • Diversified customer base - supplying large portion of production to top 20 steel companies of the world

  • Captive power generation capacity of around 80 mw (Two thermal power plants & One hydro power plant)

HEG Ltd © LNJ Bhilwara Group

3

HEG Limited - Plant View

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HEG Ltd © LNJ Bhilwara Group

4

TOP 10 Crude Steel - Producin Countries g

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Q-o-Q Comparision

Y-o-Y Comparision

Sr. No
Country		 Oct-Dec'22 (mmt)
Jan-Mar'23 (mmt)
Q4/Q1		 Oct-Dec'22 (mmt)
Jan-Mar'23 (mmt)
Q4/Q1		 Q1'CY 22 (mmt)
Q1'CY 23 (mmt)
2022/2023		 Q1'CY 22 (mmt)
Q1'CY 23 (mmt)
2022/2023
1
China		 232.2
264.4
13.9%		 246.3
264.4
7.4%
2
India		 31.4
33.2
5.5%		 32.2
33.2
3.0%
3
Japan		 21.4
21.6		 1.0% 23.0
21.6
-6.0%
4
United States		 19.3
19.4		 0.5% 20.2
19.4
-4.0%
5
Russia		 16.9
18.7
10.5%		 19.0
18.7		 -1.3%
6
South Korea		 15.2
16.7
9.6%		 16.9
16.7		 -1.5%
7
Germany		 8.6
9.2
7.3%		 9.8
9.2
-5.8%
8
Iran		 8.4
5.4
-35.3%		 6.8
5.4
-20.2%
9
Brazil		 8.0
8.0		 0.3% 8.6
8.0
-6.8%
10
Turkey		 7.9
7.4
-5.9%		 9.5
7.4
-21.5%
Source WSA
World		 426.4
462.2
8.4%		 460.0
462.2
0.5%

HEG Ltd © LNJ Bhilwara Group

5

Source WSA

Demand Forecasts Short Ran e Outlook – A r’23 , g p

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Y-o-Y growth %
million tonnes		 Y-o-Y growth %
million tonnes		 Y-o-Y growth %
million tonnes
Country 2022
2023 (f)
2024 (f)		 2022
2023 (f)
2024 (f)
Asia and Oceania
European Union (27) & United Kingdom
USMCA
Other Europe
Russia & other CIS + Ukraine
Middle East
Central and South America
Africa
Other Europe		 1267.0
1303.6
1319.1
151.8
151.3
159.8
132.9
135.0
138.1
39.2
42.1
44.6
53.3
51.5
49.3
51.3
52.4
54.1
45.4
46.0
47.0
40.6
40.5
42.1
39.2
42.1
44.6		 -2.6
2.9
1.2
-7.9
-0.4
5.6
-3.1
1.6
2.3
-2.6
7.4
6.0
-8.7
-3.5
-4.3
3.8
2.2
3.2
-10.5
1.4
2.3
3.6
-0.2
4.0
-2.6
7.4
6.0
World 1781.5
1822.3
1854.0		 -3.2
2.3
1.7
Developed Economies
China
Em. and Dev. Economies excl. China
India
ASEAN (5)
MENA		 375.5
380.3
392.6
920.9
939.3
939.3
485.0
502.8
522.2
114.9
123.3
130.9
72.6
77.1
81.4
69.8
70.2
72.5		 -6.2
1.3
3.2
-3.5
2.0
0.0
-0.3
3.6
3.9
8.2
7.3
6.2
-0.3
6.2
5.7
4.9
0.6
3.4
ROW except China 860.6
883.0
914.7		 3.0
2.6
3.6

HEG Ltd © LNJ Bhilwara Group

6

Steel Industry Outlook

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  • As per WSA, the global steel industry is projected to experience a rebound in demand this year, with a growth rate of 2.3%, and for 2024, it is expected to continue growing, with a forecasted increase of 1.7% .

  • After declining by 3.5% in 2022, China’s total steel demand is expected to grow by 2.0% in 2023. It is expected to stay flat in 2024.

  • The global recession concerns continue to influence steel demand, exerting an ongoing impact. However, the trajectory for Electric Arc Furnace (EAF) growth in the medium to long term remains distinctly evident.

  • The evident focus on substantial decarbonization measures in the developed world indicates that the growth of Electric Arc Furnace (EAF) will surpass that of Blast Furnace/Basic Oxygen Furnace (BF/BOF).

  • Indian Steel demand has been steadily increasing, driven by infrastructure development, urbanization, and industrial growth & is expected to continue to rise in the coming years.

HEG Ltd © LNJ Bhilwara Group

7

Financial Results for the Quarter and Year ended 31[st] Mar 2023 Standalone (in Rs. cr)

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Sl. No. Particulars Quarter Ended Quarter Ended Quarter Ended Year Ended Year Ended
31-03-2023 31-12-2022 31-03-2022 31-03-2023 31-03-2022
Audited
Unaudited		 Audited
Audited		 Audited
I
II
III
IV
V
VI
VII		 Revenue from Operations 616.88 530.27 673.06 2,467.24 2,201.61
Other Income 31.35 36.89 17.40 109.14 79.55
Total Income (I+II) 648.23 567.16 690.46 2,576.38 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
Other Expenses
Total expenses		 316.37
(48.16)
24.50
7.33
33.14
73.79
126.60
533.57		 324.82
(141.64)
22.02
7.77
24.99
76.68
115.32
429.96		 314.27
(70.25)
19.56
1.00
21.39
77.71
174.88
538.56		 1,312.64
(397.49)
91.83
26.01
102.30
315.90
524.71
1,975.90		 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) 114.66 137.20 151.90 600.48 520.00
Exceptional Items - - - - -
Profit/(Loss) before Tax(V-VI) 114.66 137.20 151.90 600.48 520.00

HEG Ltd © LNJ Bhilwara Group

8

(in Rs. cr)

Financial Results for the Quarter and Year ended 31[st] Mar 2023 Standalone

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Sl. No. Particulars Quarter Ended Quarter Ended Quarter Ended Year Ended Year Ended
31-03-2023 31-12-2022 31-03-2022 31-03-2023 31-03-2022
Audited
Unaudited		 Audited
Audited		 Audited
VII Profit/(Loss) before Tax (V-VI) 114.66 137.20 151.90 600.48 520.00
VIII
IX
X
XI
XII
XIII
XIV		 Tax expense
(1) Current Tax
(2)Deferred Tax		 28.21
(2.78)		 37.58
(3.21)		 39.04
(0.39)		 154.25
(9.29)		 129.56
(0.14)
Profit/(Loss) for theperiod (VII-VIII) 89.23 102.83 113.25 455.51 390.58
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		 (0.47)
0.12
-
-		 -
-
-
-		 (0.59)
0.15
-
-		 (0.83)
0.21
-
-		 (1.23)
0.31
-
-
Total Comprehensive Income for the period (IX+X) 88.88 102.83 112.81 454.89 389.66
Paid -Up Equity Share Capital ( Face Value ₹ 10/- per share)
Other Equity (Excluding Revaluation Reserves)
Earnings Per Share (₹) (For the quarter not annualised)
- Basic (₹)
- Diluted(₹)		 38.60
23.12
23.12		 38.60
26.64
26.64		 38.60
-
-
29.34
29.34		 38.60
4,038.63
118.02
118.02		 38.60
3,738.12
101.20
101.20

HEG Ltd © LNJ Bhilwara Group

9

(in Rs. cr)

Financial Results for the Quarter and Year ended 31[st] Mar 2023 Consolidated

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Sl. No. Particulars Quarter Ended Quarter Ended Quarter Ended Year Ended Year Ended
31-03-2023 31-12-2022 31-03-2022 31-03-2023 31-03-2022
Audited
Unaudited		 Audited
Audited		 Audited
I
II
III
IV
V
VI
VII		 Revenue from Operations 616.88 530.27 673.06 2,467.24 2,201.61
Other Income 31.35 36.89 17.40 109.14 79.55
Total Income (I+II) 648.23 567.16 690.46 2,576.38 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		 316.37

(48.16)
24.72
7.33
33.14
73.79
126.70
533.90		 324.82
(141.64)
22.02
7.77
24.99
76.68
116.27
430.91		 314.27
(70.25)
19.56
1.00
21.39
77.71
174.88
538.56		 1,312.64
(397.49)
92.05
26.01
102.30
315.90
525.75
1,977.16		 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) 114.33 136.25 151.90 599.22 520.00
Exceptional Items - - - - -
Profit/(Loss) before Tax & Share of Profit/(Loss)of Associates
114.33		 136.25 151.90 599.22 520.00

HEG Ltd © LNJ Bhilwara Group

10

(in Rs. cr)

Financial Results for the Quarter and Year ended 31[st] Mar 2023 Consolidated

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Sl. No. Particulars Quarter Ended Quarter Ended Quarter Ended Year Ended Year Ended
31-03-2023 31-12-2022 31-03-2022 31-03-2023 31-03-2022
Audited
Unaudited		 Audited
Audited		 Audited
VII Profit/(Loss) before Tax & Share of Profit/(Loss)of Associates (V-VI) 114.33 136.25 151.90 599.22 520.00
VIII
IX
X
XI
XII
XIII
XIV
XV
XVI		 Share of Profit/ (Loss) of Associates 10.83 2.81 16.02 78.11 40.47
Profit/(Loss) before Tax (VII+VIII) 125.17 139.06 167.92 677.33 560.47
Tax expense
(1) Current Tax
(2)Deferred Tax		 28.22
(2.78)		 37.58
(3.21)		 39.04
(0.39)		 154.26
(9.29)		 129.56
(0.14)
Profit/(Loss) for the period (VII-VIII) 99.72 104.69 129.27 532.36 431.05
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		 (0.47)
0.12
-
-
(0.14)		 -
-
-
-
(0.01)		 (0.59)
0.15
-
-
(0.13)		 (0.83)
0.21
-
-
(0.13)		 (1.23)
0.31
-
-
0.01
Total Comprehensive Income for the period (IX+X) 99.23 104.68 128.70 531.61 430.14
Paid -Up Equity Share Capital ( Face Value ₹ 10/- per share)
Other Equity (Excluding Revaluation Reserves)
Earnings Per Share (₹) (For the quarter not annualised)
- Basic (₹)
- Diluted(₹)		 38.60
25.84
25.84		 38.60
27.13
27.13		 38.60
-
-
33.49
33.49		 38.60
4,242.30
137.93
137.93		 38.60
3,875.04
111.68
111.68

HEG Ltd © LNJ Bhilwara Group

11

Financial Snapshot (Standalone)

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in Rs. cr (except EPS)

PARTICULARS FY FY FY
22-23 21-22 20-21
TOTAL INCOME 2576 2281 1369
EBITDA 729 607 54
EBIT 626 527 (19)
PAT 456 391 (25)
EPS 118.02 101.20 (6.56)
EBITDA Margin (%) 28% 27% 4%
PAT Margin (%) 18% 17% (2%)

HEG Ltd © LNJ Bhilwara Group

12

Quarterly Performance (Standalone)

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HEG Ltd © LNJ Bhilwara Group

13

Investments and Borrowings (Standalone)

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

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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