Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of HEG Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 617 | 671 | 614 | 562 | 547 | 571 | 568 | 478 | 537 | 617 | 699 | 656 | 603 |
| Expenses + | 493 | 520 | 512 | 476 | 506 | 533 | 471 | 411 | 598 | 512 | 581 | 513 | 752 |
| Operating Profit | 123 | 151 | 102 | 87 | 41 | 39 | 97 | 67 | -61 | 105 | 118 | 143 | -148 |
| OPM % | 20% | 23% | 17% | 15% | 8% | 7% | 17% | 14% | -11% | 17% | 17% | 22% | -25% |
| Other Income + | 42 | 68 | 63 | 30 | 64 | 41 | 63 | 112 | 43 | 83 | 120 | 167 | 72 |
| Interest | 7 | 9 | 9 | 10 | 9 | 8 | 9 | 9 | 12 | 8 | 9 | 9 | 11 |
| Depreciation | 33 | 38 | 38 | 47 | 50 | 48 | 48 | 51 | 55 | 53 | 54 | 54 | 53 |
| Profit before tax | 125 | 172 | 118 | 59 | 46 | 24 | 103 | 119 | -85 | 127 | 175 | 246 | -140 |
| Tax % | 20% | 19% | 18% | 27% | 29% | 3% | 20% | 30% | -13% | 18% | 18% | 16% | -19% |
| Net Profit + | 100 | 139 | 96 | 44 | 33 | 23 | 82 | 83 | -74 | 105 | 143 | 207 | -114 |
| EPS in Rs | 5.17 | 7.21 | 4.97 | 2.26 | 1.71 | 1.19 | 4.26 | 4.32 | -3.82 | 5.43 | 7.43 | 10.73 | -5.90 |
Financials of HEG Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,228 | 870 | 859 | 2,748 | 6,591 | 2,145 | 1,254 | 2,201 | 2,463 | 2,393 | 2,158 | 2,568 |
| Expenses + | 1,046 | 733 | 778 | 1,027 | 1,930 | 2,150 | 1,308 | 1,670 | 1,844 | 2,011 | 1,902 | 2,170 |
| Operating Profit | 182 | 137 | 81 | 1,721 | 4,662 | -5 | -53 | 530 | 619 | 382 | 255 | 398 |
| OPM % | 15% | 16% | 9% | 63% | 71% | -0% | -4% | 24% | 25% | 16% | 12% | 16% |
| Other Income + | 15 | 4 | 7 | 12 | 106 | 143 | 114 | 117 | 187 | 223 | 145 | 260 |
| Interest | 77 | 60 | 55 | 56 | 18 | 37 | 11 | 7 | 26 | 36 | 39 | 37 |
| Depreciation | 75 | 79 | 74 | 73 | 72 | 72 | 73 | 79 | 102 | 175 | 201 | 213 |
| Profit before tax | 44 | 1 | -41 | 1,605 | 4,677 | 29 | -23 | 560 | 677 | 395 | 160 | 408 |
| Tax % | 12% | 886% | 23% | 33% | 35% | -82% | -23% | 23% | 21% | 21% | 28% | 16% |
| Net Profit + | 36 | 4 | -44 | 1,099 | 3,026 | 68 | -18 | 431 | 532 | 312 | 115 | 341 |
| EPS in Rs | 1.82 | 0.22 | -2.21 | 55.02 | 156.80 | 3.50 | -0.93 | 22.33 | 27.59 | 16.15 | 5.96 | 17.69 |
| Dividend Payout % | 33% | 0% | 0% | 29% | 10% | 143% | -65% | 36% | 31% | 28% | 30% | 19% |
Financials of HEG Ltd
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 40 | 40 | 40 | 40 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 |
| Reserves | 974 | 956 | 913 | 1,868 | 3,755 | 3,473 | 3,456 | 3,875 | 4,242 | 4,387 | 4,415 | 4,719 |
| Borrowings + | 917 | 782 | 684 | 297 | 667 | 594 | 298 | 665 | 743 | 623 | 588 | 796 |
| Other Liabilities + | 315 | 176 | 216 | 534 | 684 | 332 | 451 | 730 | 668 | 653 | 607 | 612 |
| Total Liabilities | 2,246 | 1,953 | 1,853 | 2,739 | 5,144 | 4,438 | 4,244 | 5,308 | 5,692 | 5,701 | 5,648 | 6,166 |
| Fixed Assets + | 907 | 932 | 889 | 833 | 788 | 745 | 694 | 763 | 1,363 | 1,816 | 1,938 | 1,789 |
| CWIP | 108 | 27 | 1 | 2 | 19 | 101 | 373 | 696 | 472 | 212 | 71 | 224 |
| Investments | 223 | 227 | 231 | 248 | 942 | 1,245 | 1,358 | 1,171 | 859 | 1,200 | 1,400 | 1,478 |
| Other Assets + | 1,009 | 767 | 732 | 1,656 | 3,396 | 2,348 | 1,819 | 2,678 | 2,998 | 2,474 | 2,238 | 2,676 |
| Total Assets | 2,246 | 1,953 | 1,853 | 2,739 | 5,144 | 4,438 | 4,244 | 5,308 | 5,692 | 5,701 | 5,648 | 6,166 |
Financials of HEG Ltd
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 276 | 249 | 157 | 594 | 1,488 | 739 | 716 | -141 | 113 | 612 | 280 | 213 |
| Cash from Investing Activity + | -83 | -29 | -1 | -9 | -676 | -275 | -417 | -183 | -21 | -184 | -207 | -320 |
| Cash from Financing Activity + | -202 | -219 | -153 | -588 | -788 | -460 | -310 | 344 | -100 | -324 | -159 | 97 |
| Net Cash Flow | -8 | 1 | 3 | -3 | 24 | 4 | -11 | 20 | -8 | 104 | -86 | -10 |
| Free Cash Flow | 249 | 218 | 154 | 580 | 1,441 | 503 | 460 | -499 | -364 | 244 | 102 | -36 |
| CFO/OP | 155% | 188% | 205% | 65% | 67% | -17,020% | -1,349% | -2% | 42% | 169% | 127% | 59% |
Financials of HEG Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 121 | 134 | 153 | 129 | 66 | 68 | 84 | 98 | 72 | 78 | 75 | 71 |
| Inventory Days | 238 | 342 | 216 | 391 | 428 | 226 | 262 | 431 | 574 | 379 | 507 | 389 |
| Days Payable | 76 | 48 | 73 | 188 | 124 | 30 | 116 | 197 | 164 | 135 | 161 | 138 |
| Cash Conversion Cycle | 282 | 428 | 297 | 332 | 370 | 264 | 230 | 331 | 483 | 321 | 421 | 323 |
| Working Capital Days | 13 | -7 | -3 | 120 | 86 | 134 | 93 | 75 | 107 | 111 | 141 | 189 |
| ROCE % | 6% | 3% | 1% | 86% | 139% | -0% | -2% | 14% | 15% | 9% | 4% | 8% |