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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
HEG Limited is an India-based manufacturer and exporter of graphite electrodes in India and operates a single-site integrated graphite electrodes plant. The Company’s segments include Graphite, Power, and Others. The Graphite segment comprises the manufacturing of graphite…
A decent, stagnant business, reasonably priced.
HEG is scored on the general / industrial framework. It keeps a healthy 12.6% of every rupee of sales as net profit. Cash conversion lags the reported profit (CFO/PAT 0.62×) — worth a closer look. Free cash flow is worth about -2.0% of its market value.
Over the last 3 years revenue compounded at 2%/yr and profit at -14%/yr. Book value has grown 4%/yr. Return on equity is a weak 7.2%.
At 15× earnings, the stock sits at the 29th percentile of its own 3.5-year range — the middle of where it has historically traded. Today's price implies ~5%/yr earnings growth for a decade. The books come through clean — a forensic grade of A, and Altman puts distress risk in the safe zone.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 14.73 | 22.82 | better |
| P/B | 1.11 | 2.76 | better |
| EV/EBITDA | 21 | 13.18 | worse |
| ROE | 7.17 | 23.72 | worse |
| ROCE | 8 | 29.17 | worse |
| ROA | 5.82 | 10.18 | worse |
| Quick Ratio | 1.34 | 5.63 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Cummins India | 58.8 | 16.4 | 27.9% |
| Welspun Corp | 29.6 | 7.5 | 17.6% |
| APL Apollo Tubes | 49.7 | 11.5 | 22.7% |
2% CAGR — growing but slowly. Growth is accelerating — latest year outpaced the prior year's rate.
Revenue is outpacing profit (2% vs -14%) — costs are rising faster than the top line. The latest year saw a +197% swing — check if it's a one-off or structural.
Operating margin has compressed from 26% to 15% — costs or competition are eating into profitability. Interest or tax burden is shrinking — more of the operating profit is reaching the bottom line. Margins have declined for 2 consecutive years — watch for a structural cost problem.
ROE at 7% — modest; the capital isn't working hard. Capital efficiency declining — ROE down 5pp.
Profit grew faster than EPS (-14% vs -50%) — share dilution is eroding per-share value. -50% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
Operating cash flow has been positive every year — the business generates real cash, not just accounting profit. Investing outflows exceed operating cash — the company relies on external funding to finance expansion. Raising capital despite positive cash flow — could signal expansion plans or opportunistic fundraising.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue rose 13% sequentially — momentum is building. Run-rate fading — recent quarters 13% below earlier ones.
1 of 4 quarters loss-making — quarterly profitability is uneven. Profit jumped 208% QoQ — check if this is operating leverage or a one-off item.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.5y median.
Promoter holding at 56.3% — majority control intact.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.