HEG Advanced Materials shares hit 20 per cent upper circuit
The stock recorded its largest single-day gain in eight years following the announcement of upbeat September quarter performance.
Shares of HEG Advanced Materials closed at the 20 per cent upper circuit at ₹289 on Wednesday, according to Mint. The rally followed the company's financial results for the September quarter.
For the quarter ended September 2026, the LNJ Bhilwara Group unit recorded a consolidated revenue from continuing operations of ₹430 crore. The company reported a total income of ₹546 crore, an EBITDA of ₹313 crore, and a profit after tax of ₹209 crore.
During the first half of FY27, the company's consolidated revenue from continuing operations reached ₹726 crore, with total income at ₹871 crore. The EBITDA for the period was ₹438 crore and the profit after tax was ₹269 crore.
Riju Jhunjhunwala, Chairman, Managing Director, and CEO of HEG Advanced Materials Limited, said the Q2 FY27 results showed progress toward becoming a technology-led, globally competitive platform. He stated the company is focusing on R&D and developing proprietary technologies in areas such as anode materials and green power.
The company is currently constructing a Phase I anode materials facility at its Dewas site with a 20,000 MT capacity. This project has reached 61 per cent overall progress, with commercial operations planned for June 2027. A Phase II plant with a 24,000 MT capacity is targeted for March 2029.