H

HEG Limited

HEGNSE
Market snapshot · 2026-08-11 06:05 UTC

682.05

₹-1.55 (-0.23%)

MARKET CAP

₹13.16K Cr

STOCK P/E

36.5x

52W HIGH

₹698.00

52W LOW

₹459.80

BOOK VALUE

₹246.55

EPS

₹18.67

ROE

SECTOR

Industrials

DEBT/EQUITY

16.73

VOLUME

4.85L

P/B RATIO

2.77x

PEG RATIO

2.15

Sector

Industrials

Themes

Electrical Components & EquipmentsEv
D
Dividend
E
Earnings
₹674.00₹620.35₹566.70₹513.05₹459.40VolumeDEDEAug '25Sep '25Nov '25Jan '26Mar '26Apr '26Jun '26Aug '26

AI Summary

✦ Clartha

Forecast

Analyst targets, estimate history, and probabilistic forward ranges for HEG.

3.00 analysts

Price Forecast

Current
₹678.90
High Target
₹750.00
▲ +10.5%
Median Target
₹750.00
▲ +10.5%
Low Target
₹630.00
▼ -7.2%
Now₹678.90High ₹750.00Median ₹750.00Low ₹630.00Aug '25Now12M Target
Price history (1Y)
Analyst target range
3 analysts

Probabilistic Range

Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.

Time horizonRange ()Probability
3M₹533.39 - ₹888.2980%
6M₹486.59 - ₹1,00180%
12M₹430.79 - ₹1,19580%
Realized vol: +39.8% · Drift: +13.4%

Revenue Forecast

₹ Cr
Jun '26Current₹681.0
Sep 2026 ETrend estimate range
High₹905.6Base₹838.5Low₹771.4
Sep '25: ₹697.0 · Dec '25: ₹656.0 · Mar '26: ₹603.0 · Jun '26: ₹681.0 · Sep '26: ₹838.5 · Dec '26: ₹789.2
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E697.0656.0603.0681.0838.5789.2
PastCurrentTrend estimate: Low / Base / High

EPS Forecast

₹ / share
Jun '26Current₹5.67
Sep 2026 ETrend estimate range
High₹11.39Base₹10.17Low₹8.95
Sep '25: ₹6.78 · Dec '25: ₹7.32 · Mar '26: ₹-8.46 · Jun '26: ₹5.67 · Sep '26: ₹10.17 · Dec '26: ₹10.98
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E6.787.32-8.465.6710.1710.98
PastCurrentTrend estimate: Low / Base / High
Market Intelligence

Multi-factor synthesis of 5 key dimensions

Overall Outlook
Neutral
66%
Analyst Consensus
Positive

From 3 analysts

Mean upside+4.6%

Fundamentals

Strong

Fundamentals institutional score is 89 using growth durability 88.9.

Valuation

Premium valuation

Valuation institutional score is 27 using relative multiple z-scores where peer dispersion is available.

Analyst Consensus

Positive

Analyst View institutional score is 73 using mean target upside 4.6%; dispersion penalty 6.8; recommendation breadth from available consensus.

Technical Structure

Mixed Momentum

Technicals institutional score is 63 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.

Market Sentiment

Positive catalysts emerging

Recent news flow is balanced or not decisive enough to tilt the tape. Based on 10 recent ticker-linked news items.

Signal Summary

Market intelligence remains Neutral. fundamentals and analyst consensus provide support, while valuation remain considerations.

Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.

Fundamentals StrongValuation Premium valuationAnalyst Consensus PositiveTechnical Structure Mixed MomentumMarket Sentiment Positive catalysts emerging

Key Data Points

Mean Target Price710 target
Mean Upside+4.6%
Technical Score63%
Fundamental Score89%
Data CoverageHigh

Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.

Valuation Metrics

Trading 44.0% above historical median. Valuation is rising — currently in the strongly overvalued zone (z-score: +2.46). Confidence: 81%.

Live forward EPS implies next-12-month EPS of ₹30.13. Applying the stock's normalized valuation corridor produces a fair range of ₹630.02 to ₹844.54, with base value near ₹755.06 (+10.5% vs current price).

Forward Valuation Outlook

Live forward estimate anchored to the company's historical valuation corridor.

Inside normalized range

Forward EPS

₹30.13

Forward P/E

22.7x

Base Fair Value

₹755.06

Fair Range

₹630.02 - ₹844.54

Upside To Base

+10.5%

Estimate Source

Live forward EPS

Growth Estimate

+16.8%

P/E
Strongly Overvalued

5Y Average

20.67

Current

36.10

Overvalued

28.03

Undervalued

20.91

EV/EBITDA
Strongly Overvalued

5Y Average

13.09

Current

23.18

Overvalued

17.05

Undervalued

8.56

P/B
Strongly Overvalued

5Y Average

2.31

Current

2.77

Overvalued

2.66

Undervalued

1.96

Peers & Comparison

Sector: Industrials · Theme: Electrical Components & Equipments

Electrical Components & Equipments Peers8 peers
Avg P/E: 64x
CompanyRev. GrowthMarginP/Evs Avg52W Perf.
ATLANTA ELECTRICALS LTD
ATLANTAELEElectrical Components & Equipments
+48.0%10.9%
55.0x
Fair
-14% vs avg
+95.2%
PRECISION WIRES INDIA LTD
PRECWIREElectrical Components & Equipments
+67.1%2.9%
50.6x
Undervalued
-21% vs avg
+138.7%
KAYNES TECHNOLOGY IND LTD
KAYNESElectrical Components & Equipments
+42.6%8.9%
68.7x
Fair
+7% vs avg
-34.1%
V-GUARD IND LTD.
VGUARDElectrical Components & Equipments
+23.5%5.8%
38.8x
Undervalued
-39% vs avg
-11.9%
KSH INTERNATIONAL LIMITED
KSHINTLElectrical Components & Equipments
+100.5%3.5%
49.0x
Undervalued
-23% vs avg
+153.5%
GRAPHITE INDIA LTD
GRAPHITEElectrical Components & Equipments
+26.6%7.0%
66.1x
Fair
+3% vs avg
+35.7%
OLECTRA GREENTECH LIMITED
OLECTRAElectrical Components & Equipments
+43.3%2.0%
63.3x
Fair
-1% vs avg
-2.4%
DIAMOND POWER INFRA LTD
DIACABSElectrical Components & Equipments
+108.5%8.3%
120.6x
Premium
+88% vs avg
+130.5%
WHY THESE PEERS

HEG LTD trades at a discount (36.6x vs peer avg 64.0x), suggesting potential undervaluation relative to the Electrical Components & Equipments cohort. Peers include ATLANTA ELECTRICALS LTD, PRECISION WIRES INDIA LTD, KAYNES TECHNOLOGY IND LTD — selected based on business model, industry classification, market cap similarity, and business theme alignment.

Financials

Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.

Latest revenue

₹681 CrJun 2026

Latest net profit

₹110 CrJun 2026

Latest EPS

₹5.67Jun 2026

Net margin

24.0%Jun 2026

Performance

Bars show revenue and net profit. The line shows net margin.

Rs crore + margin %
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '27-30.0%-15.0%0.0%15.0%30.0%-250 Cr0.00 Cr250 Cr500 Cr750 Cr
  • Revenue
  • Net income
  • Net margin %

Earnings

Revenue is shown in crores. EPS is rupees per share.

Rs crore + Rs/share
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.00 Cr200 Cr400 Cr600 Cr800 Cr₹-10₹-5₹0₹5₹10
  • Revenue
  • EPS

Revenue to profit conversion

Bridge from operating numbers to profit for the latest reported period.

Rs crore
RevenueExpensesDepreciationOtheradjustmentsOperatingprofitOther incomeInterestOtheradjustmentsProfitbefore taxTax & otherNet Profit0.00 Cr200 Cr400 Cr600 Cr800 Cr

Latest reported period: Jun 2026

Debt level and coverage

Debt, cash and free cash flow compared on the same crore scale.

Rs crore
Annual view
Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026-2.00K Cr0.00 Cr2.00K Cr4.00K Cr6.00K Cr
  • Debt
  • Free cash flow
  • Cash & equivalents

Results

MetricJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +671614562547571568477537613697656603681
Expenses +520512476504533471397585507578513746520
Operating Profit1511028743399780-49106119143-142161
OPM %23%17%15%8%7%17%17%-9%17%17%22%-24%24%
Other Income +26282364204311344481071011750
Interest99109899128991110
Depreciation38384750484851555354545350
Profit before tax130835349382134-7292163180-189152
Tax %25%26%30%28%21%25%26%-14%22%20%22%-14%28%
Net Profit +9862373536298-6272131141-163110
EPS in Rs5.053.201.921.820.133.225.09-3.203.726.787.32-8.465.67
Raw PDF

All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).

Shareholding Pattern

HolderJun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters +55.77%55.77%56.13%56.27%56.27%
FIIs +7.29%7.97%8.52%10.23%8.47%
DIIs +11.60%11.99%12.15%8.63%9.27%
Public +25.33%24.27%23.20%24.86%25.97%
Others0.01%0.01%0.02%
Jun 2026
Promoters +
FIIs +
DIIs +
Public +
Others

Events Timeline

Annual Report FY26

FY2026PDFCompany Reports Open

Shareholder Meeting / Postal Ballot-Outcome of AGM

Aug 07, 2026PDFCompany Reports Open

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Aug 06, 2026PDFCompany Reports Open

Re-Lodgement Of Transfer Requests Of Physical Shares For The Month Of July, 2026

Aug 06, 2026PDFCompany Reports Open

Assignment / Review Of ESG Rating By CRISIL ESG Ratings & Analytics Limited (ISIN: INE545A01024)

Aug 04, 2026PDFCompany Reports Open