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HEG Ltd. reported a steady operational performance in Q1 FY23. For Q1 FY23, standalone operations capacity utilisation was at 92%. For Q1 FY23, total operating income was at Rs 722 crore, up 75% YoY, 7% QoQ.
Reported Ebitda for the quarter was at Rs 184 crore, up 154% YoY, 17% QoQ. Ebitda margin for the quarter was at 25.5%, up 800 basis points YoY, 220 bps QoQ.
Ensuing standalone net profit for the quarter was at Rs 134 crore, up 139% YoY, 18% QoQ.
Going forward, demand for graphite electrode and realisation is expected to remain volatile in the near term while cost inflation may continue to add pressure on margins.
HEG’s capacity expansion from 80000 tonnes to 100000 tonnes per annum is going on in full swing and is expected to be completed by end December 2022 with commercial production set to start in January-March 2023 quarter (i.e. Q4 FY23E).
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