HEG Advanced Materials Ltd. Share Price

HEG Advanced Materials : GST authority dropped proceedings

HEG Advanced Materials Limited (formerly known as HEG Limited) has received official communication that the GST authorities have completely dropped proceedings concerning a substantial tax and penalty recovery notice for the financial year 2020–21. Key Highlights for Investors: *Relief from Significant Financial Liability: The GST authority (Office of the Deputy Commissioner of State Tax, Mandideep Circle, Bhopal) has officially dropped proceedings that had previously proposed a recovery of IGST refunds alongside a penalty totaling ₹282.34 crore for FY 2020–21. *Basis of Decision: The order, dated October 15, 2026, was issued in favor of the company after reviewing the information available on record. *Zero Financial and Operational Impact: The company has confirmed that the dropping of these proceedings has a nil impact on its financial, operational, or other business activities. *Regulatory Compliance Disclosures: The disclosure has been formally communicated to both BSE Limited and the National Stock Exchange of India Limited (NSE) in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Background & Timeline November 10, 2025: The company originally informed stock exchanges regarding the receipt of a show-cause notice from the SGST authorities proposing the recovery and penalty amounting to ₹282.34 crore for FY 2020–21. October 15, 2026: The Deputy Commissioner of State Tax formally closed and dropped the Section 74 proceedings under the MPGST Act, 2017, and CGST Act, 2017.

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HEG arm wins ₹217 crore battery order recently

Limited's subsidiary Replus Engitech has received orders worth ₹217.56 crore, including GST, from Indus Towers for the supply of lithium-ion battery banks. The orders are scheduled to be executed by March 31, 2027, unless an extension is mutually agreed. The order is important because it adds visibility to Replus Engitech's energy-storage business, giving HEG exposure beyond its traditional graphite electrode operations. The ₹217.56 crore order value should not be treated as immediate profit. The actual contribution will depend on the cost of battery cells and other components, product mix, execution timelines and the margin earned on the contracts. My view: the strategic significance of this order is more interesting than the headline value. Telecom infrastructure requires reliable backup power, and lithium-ion batteries are increasingly being adopted for this purpose. Replus Engitech can potentially build a larger position in the energy-storage market if it converts these initial orders into repeat business. There is also an important execution test. The orders have a defined delivery timeline through March 2027. I would watch whether the company reports timely execution and whether the new business contributes meaningfully to consolidated revenue and operating profit. The stock had already attracted strong buying interest, hitting a 5% upper circuit around the announcement. That makes the next price action particularly important. After a circuit move, chasing the stock can carry higher short-term risk. I would instead watch whether the price consolidates above the previous breakout zone and whether volumes remain healthy. The next triggers are additional battery orders, capacity expansion, customer additions and margin contribution from Replus Engitech.

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HEG Subsidiary Wins 217.56 Battery Order From Indus Towers

HEG has announced that its subsidiary, Replus Engitech, has received orders worth ₹217.56 crore from Indus Towers for the supply of lithium-ion battery banks. The order adds to Replus Engitech’s growing business in energy-storage solutions and strengthens HEG’s presence in the battery and energy-infrastructure segment. The development is significant as telecom companies increasingly require reliable energy-storage systems to support network infrastructure and improve power-management capabilities. HEG shares gained as much as 5% in Monday’s trading session following the announcement, reaching an intraday high of ₹248.90 on the NSE. Replus Engitech is part of HEG’s strategy to diversify beyond its traditional graphite-electrode business into newer areas linked to energy storage and advanced battery technologies. The latest order provides additional business visibility for the subsidiary and expands its engagement with a major telecom infrastructure company. Disclaimer: The views expressed purely for educational and informational purposes and do not constitute financial advice or a recommendation to buy, sell, or hold any security.

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HEG HITS UPPER CIRCUIT ON GRAPHITE ELECTRODE PRICE HIKE

Shares of Graphite India surged nearly 18% on Wednesday, September 9, while HEG Advanced Materials hit its 5% upper circuit after US-based GrafTech International announced a sharp increase in graphite electrode prices. The move raised expectations of improved realisations and margins for Indian graphite electrode manufacturers. Graphite India shares jumped 17.8% to Rs 865 in morning trade, making it the top gainer on the BSE Smallcap index and one of the most actively traded stocks across both the NSE and BSE. Shares of HEG Advanced Materials also rallied 4.99%, triggering the upper circuit. The company’s market capitalisation was around Rs 5,233 crore. The gains came despite a weak broader market. Graphite India is currently India’s only listed pure-play company focused on the graphite electrode business. Meanwhile, HEG’s graphite electrode operations are being separated into a new listed entity following the group’s recent demerger. Under the restructuring, the existing listed company, HEG Advanced Materials, will retain its advanced materials, battery energy solutions and green power businesses. The graphite electrode business will be housed under HEG Graphite, which is expected to be listed separately next month. With an annual manufacturing capacity of 80,000 tonnes, Graphite India is the largest graphite electrode producer in the country. The company also reported a strong performance in the June quarter, with net profit rising 28.4% year-on-year to Rs 172 crore. Revenue increased 26.6% to Rs 842 crore during the quarter.

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Graphite Surge Global Electrode Price Hike Sparks Rally

Graphite India shares surged as much as 18.5% to ₹870 on September 9, 2026, hitting a fresh 52-week high amid strong buying interest. The sharp rally came after global graphite electrode producer GrafTech International announced a minimum 30% increase in electrode prices, raising expectations of stronger pricing across the industry. The development is significant for Indian graphite-electrode manufacturers because higher international prices could improve realisations and operating margins. Investors are increasingly betting that the tighter global supply-demand balance will support better profitability for companies such as Graphite India and HEG. Graphite India's recent financial performance has also added to investor confidence. Its June-quarter profit reportedly increased 28.4%, while EBITDA margin expanded to 17.1%, providing a stronger earnings backdrop as electrode prices move higher. Trading activity has also surged, with volumes several times above normal levels. The stock's rally comes despite a weak broader Indian market, where the Nifty 50 and Sensex were under pressure from rising crude prices and geopolitical tensions. With graphite-electrode pricing emerging as a fresh catalyst, investors will now watch whether Graphite India can sustain the momentum and convert higher industry prices into stronger earnings.

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