HEG Limited

Capital Goods · Industrial Products

NSE: HEG BSE: 509631

₹233.77

Oct. 5, 2026 · NSE · nse_bhavcopy

Peers in Industrial Products

The largest companies in the same industry by market cap. This company ranks #62 of 335. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Cummins India Limited	133,951	58.7	27.9%	22.6%	1.37%	84	0	27
Polycab India Limited	121,713	43.3	22.3%	6.1%	0.58%	83	27	61
Welspun Corp Limited	65,882	75.3	17.2%	192.9%	0.20%	71	0	53
APL Apollo Tubes Limited	58,303	101.5	22.7%	20.5%	—	68	0	51
KEI Industries Limited	44,341	44.5	13.8%	12.3%	0.10%	70	29	61
Supreme Industries Limited	43,175	45.8	15.5%	-18.5%	—	76	0	49
Astral Limited	36,593	56.3	13.2%	-1.6%	—	76	12	12
AIA Engineering Limited	36,052	27.8	15.8%	21.6%	0.41%	71	29	61
HEG Limited (this stock)	4,511	20.7	7.2%	-55.1%	—	75	78	41

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹5,282 Cr

EV / EBITDA

9.5x

EV / Sales

2.00x

Market cap / Sales

1.71x

Earnings yield

4.84%

Quarterly Financials

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Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 731 Cr, up 10.7% YoY.

↑ Positive

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 110 Cr, up 52.5% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	681	152	110	₹5.6700
March 31, 2026	603	-189	-163	₹-8.4600
Dec. 31, 2025	656	180	141	₹7.3200
Sept. 30, 2025	697	163	131	₹6.7800
June 30, 2025	613	92	72	₹3.7200
March 31, 2025	537	-72	-62	₹-3.2000
Dec. 31, 2024	477	134	98	₹
Sept. 30, 2024	568	82	62	₹3.2170
June 30, 2024	571	3	3	₹0.6700
March 31, 2024	547	49	35	₹9.1070
Dec. 31, 2023	562	53	37	₹9.6080
Sept. 30, 2023	614	83	62	₹16.0030
June 30, 2023	671	130	98	₹25.2770

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23
Total income (before exceptional items)	731	620	756	804	660	580	611	592	611	586	642	698	648
Operating revenue	681	603	656	697	613	537	568	571	547	562	614	671	617
Other income	50	17	101	107	48	44	43	20	64	23	28	26	31
Operating expenses	520	746	513	578	507	585	471	533	504	476	512	520	493
Operating profit	161	-142	143	119	106	-49	97	39	43	87	102	151	124
Operating profit margin	23.7%	-23.6%	21.8%	17.0%	17.3%	-9.1%	17.1%	6.8%	7.9%	15.4%	16.7%	22.6%	20.1%
Depreciation	50	53	54	54	53	55	48	47	50	47	38	38	33
Interest	10	11	9	9	8	12	9	8	9	10	9	9	7
Exceptional items, gain / (loss)	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit before tax	152	-189	180	163	92	-72	82	3	49	53	83	130	115
Tax	42	-26	39	32	21	-10	20	1	13	16	22	33	25
Net profit	110	—	141	131	72	—	62	3	35	37	62	98	89
EPS	5.67	-8.46	7.32	6.78	3.72	-3.20	3.22	0.67	9.11	9.61	16.00	25.28	23.12
Net profit (TTM)	—	—	—	—	—	—	137	137	232	286	351	420	456
EPS (TTM)	11.31	9.36	14.62	10.52	4.41	9.79	22.60	35.39	60.00	74.01	91.04	108.70	118.03

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	2,568	246	181
March 31, 2025	2,153	148	101
March 31, 2024	2,395	315	232
March 31, 2023	2,467	600	456

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	3.3%	15.7%	2,840^†	—	2,537^†	2,576^†	2,281^†	1,369^†	2,293^†	6,701^†	2,771^†	883^†
Operating revenue	1.3%	15.4%	2,568	2,153	2,395	2,467	2,202^†	1,256^†	2,149^†	6,593^†	2,758^†	876^†
Other income	—	—	272^†	—	142^†	109^†	80^†	113^†	144^†	108^†	12^†	7^†
Operating expenses	—	—	2,344^†	—	2,011^†	1,848^†	1,674^†	1,315^†	2,155^†	1,935^†	1,037^†	753^†
Operating profit	-28.7%	—	225^†	—	384^†	620^†	527^†	-59^†	-6^†	4,658^†	1,722^†	123^†
Operating profit margin	—	—	8.8%^†	—	16.0%^†	25.1%^†	23.9%^†	-4.7%^†	-0.3%^†	70.7%^†	62.4%^†	14.0%^†
Depreciation	—	—	213^†	—	175^†	102^†	79^†	73^†	72^†	72^†	73^†	74^†
Interest	—	—	37^†	—	36^†	26^†	7^†	11^†	37^†	17^†	57^†	55^†
Exceptional items, gain / (loss)	—	—	0^†	—	0^†	0^†	0^†	0^†	0^†	0^†	0^†	0^†
Profit before tax	-25.7%	—	246	148	315	600	520^†	-31^†	29^†	4,677^†	1,605^†	-41^†
Tax	—	—	66^†	—	84^†	145^†	129^†	-5^†	-24^†	1,627^†	523^†	9^†
Net profit	-26.5%	—	181	101	232	456	391^†	-25^†	53^†	3,050^†	1,081^†	-49^†
EPS	-57.0%	—	9.36^†	—	60.00^†	118.03^†	101.19^†	-6.55^†	13.83^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	8.8%^†	—	16.0%^†	25.1%^†	23.9%^†	-4.7%^†	-0.3%^†	70.7%^†	62.4%^†	14.0%^†
EBIT margin	11.0%^†	—	14.7%^†	25.4%^†	24.0%^†	-1.5%^†	3.1%^†	71.2%^†	60.2%^†	1.6%^†
PBT margin	9.6%	6.9%	13.2%	24.3%	23.6%^†	-2.4%^†	1.4%^†	70.9%^†	58.2%^†	-4.7%^†
Net margin	7.0%	4.7%	9.7%	18.5%	17.7%^†	-2.0%^†	2.5%^†	46.3%^†	39.2%^†	-5.6%^†
Interest coverage	7.62x^†	—	9.82x^†	24.09x^†	70.42x^†	-1.70x^†	1.80x^†	283.43x^†	29.31x^†	0.25x^†
Dividend payout	—	—	—	—	—	—	—	—	—	—
Earnings retention	—	—	—	—	—	—	—	—	—	—
Current ratio	1.95x	2.19x	—	—	—	—	—	—	—	—
Quick ratio	1.08x	1.03x	—	—	—	—	—	—	—	—
Debt to equity	0.18x	0.14x	—	—	—	—	—	—	—	—
Return on equity	4.2%	2.4%	—	—	—	—	—	—	—	—
Return on assets	3.2%	1.9%	—	—	—	—	—	—	—	—
Return on capital employed	6.4%^†	—	—	—	—	—	—	—	—	—
Asset turnover	0.45x	0.40x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	355	-453	97	120	235
March 31, 2025	319	-246	-159	181	138
March 31, 2024	615	-205	-324	322	293
March 31, 2023	114	-31	-100	480	-365
March 31, 2022	-141	-183	344	360	-500

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	5,694	4,303	4,265	793	0	2,529	1,295	22	1,735	1,134
March 31, 2025	5,346	4,160	4,121	585	0	2,366	1,081	24	1,887	1,255
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.