1:5 Stock Split Approved: HEG Ltd Shares Rally Despite Steep Dip In Q1 Net Profit

HEG Ltd shares today zoomed 3.11% to settle at Rs 2167.40 per share. The Board of HEG Ltd approved 1:5 stock split implying 1 share will be split into 5 new shares as on the record date. The company also announced a steep fall in its standalone net profit for the June quarter at Rs 2.58 crore as against Rs 97.56 crore declared in the corresponding quarter of last year, according to its BSE filing. HEG Ltd shares offered return of over 8% in last 1-week. Its market capitalisation stood at Rs 8,365.19 crore. Check key details below:

HEG Ltd Quarterly Results: HEG announced its net profit for the quarter ended June 30, 2024 at Rs 2.58 crore as compared to Rs 97.56 crore announced in the corresponding quarter of last year. The company for the quarter ended June 2024 declared its standalone revenue from operations at Rs 571 crore as against Rs 671 crore announced in the corresponding quarter of last year. Its total standalone expenses for the June 2024 quarter announced at Rs 589 crore from Rs 567 crore declared in the similar quarter of last year. Total standalone income of HEG Ltd for the quarter ended June 30, 2024 declared 592 crore as against Rs 698 crore declared in the corresponding quarter of last year.

HEG Ltd Shares Performance: The 52-week high price of HEG shares on BSE is Rs 2744.60 per share (as on 22/05/2024) and 52-week low price is Rs 1466.85 per share (as on 26/10/2023), respectively. HEG shares gained over 32% in last 6-months, soared 29% in last 1-year, and jumped 69% in last 2-years. In last 3-months, HEG Ltd shares declined over 9%.

HEG Ltd Approves Stock Split: According to the BSE filing of HEG Ltd issued as on August 13, 2024, "sub-division/ split of each equity share of face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into 5 (Five) equity shares of face value of Rs. 2 /- (Rupee Two only) each, fully paid-up by alteration of Capital Clause of the Memorandum of Association of the Company, subject to the approval of the members of the Company to be sought through Postal Ballot. The Record Date for sub-division/ split of existing equity shares will be intimated in due course."

About: HEG Ltd, a premier company of the LNJ Bhilwara group, is today India's leading graphite electrode manufacturer. It has one of the largest integrated Graphite Electrode plants in the world, processing sophisticated UHP (Ultra High Power) Electrodes, according to its official website.

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