HEG Ltd. share price target and research reports

17 Sep 2024

535.35

3.80%

HEG Ltd.

Buy: HEG Ltd.

Target

ICICI Direct

21 Mar 2024

535.35

3.80%

HEG Ltd.

Buy: HEG Ltd.

Target

ICICI Direct

18 Nov 2022

535.35

3.80%

HEG Limited

Buy: HEG Ltd.

Recommendation Target

ICICI Direct

18 Aug 2022

535.35

3.80%

HEG Limited

Hold: HEG Ltd.

ICICI Direct

07 Jun 2021

535.35

3.80%

HEG Limited

Buy: HEG Ltd.

Recommendation Target

ICICI Securities Limited

Over the last few months, there has been a healthy uptick in global steel prices as well as global steel production levels. Graphite electrode players are likely to be one of the key beneficiaries of the current upcycle in steel. During the first four months of CY21, global crude steel production witnessed healthy growth, auguring well for graphite electrode majors. During January-April 2021, global steel production was at 663 million tonnes (MT), up 13.7% YoY. In addition to higher global steel output, steel prices witnessed healthy strength. Both above-mentioned factors, higher global...

18 Aug 2020

535.35

3.80%

HEG Limited

Hold: HEG Ltd.

Target

ICICI Securities Limited

HEG reported a subdued set of Q1FY21 numbers on account of a muted operational performance wherein it reported a loss at the EBITDA level. For standalone operations, topline came in at | 233.3 crore (down 71% YoY) & reported EBITDA loss came in at | 11.3 crore (vs. EBITDA profit of | 347.8 crore in Q1FY20). For the quarter, it reported a negative EBITDA margin of 4.8% compared to positive margin of 42.6% in Q1FY20. During the quarter, as the lockdown was in force for a significant period, the company's operations and financial results were impacted. On account of Covid-19...

23 Jun 2020

535.35

3.80%

HEG Limited

Hold: HEG Ltd.

Recommendation

ICICI Securities Limited

Revise down capacity utilisation levels on subdued demand On account of subdued demand from the steel sector (especially in H1FY21), we downward revise our capacity utilisation estimates for FY21E. For FY21E, we model capacity utilisation of 50% (downward revise from 75% earlier)....

19 Aug 2019

535.35

3.80%

HEG Limited

Sell: HEG Ltd.

Target

ICICI Securities Limited

Graphite electrodes are used in the EAF route of steelmaking. Global steel demand has been negatively impacted by a weakening global economy. World Steel Association (WSA) forecasts global steel demand will reach 1735 million tonnes (MT) in CY19, a modest increase of 1.3% and 1752 MT in CY20, an increase of 1.0% over 2019. In the current muted demand scenario, excess production of graphite electrodes in China due to relatively slow ramp up of EAF capacities has led to cheaper graphite electrode exports to other countries (from China). Against the backdrop of removal of...

27 May 2019

535.35

3.80%

HEG Limited

Sell: HEG Ltd.

Recommendation Target

ICICI Securities Limited

HEG reported a steady Q4FY19 performance wherein the topline came in marginally lower than our estimates while EBITDA and PAT came in higher than our estimate. The company reported a capacity utilisation of ~80% (lower than our estimate of 85% in Q4FY19, 84% in Q4FY18 and 82% in Q3FY19). HEG reported a topline of | 1346.7 crore (down 27.8% QoQ, up 4.2% YoY, marginally lower than our estimate: | 1393.6 crore). EBITDA for the quarter was at | 788 crore (higher than our estimate of | 695.7 crore). EBITDA margin was at 58.5% (higher than our estimate of 49.9% in Q4FY19,...

19 Feb 2019

535.35

3.80%

HEG Limited

Buy: HEG Ltd.

Target

ICICI Securities Limited

The revenue from operation came in at |1865 crore (up 121% YoY, 4% QoQ) higher than our estimates of |1630.8 crore. Utilization for the quarter came in at ~82%, broadly in line with our estimate of 85%. HEG reported an EBITDA of |1313.5 crore higher than our estimate | 1021.5 crore, the resultant EBITDA margin came in at 70.4% (as against our estimate of 62.6%, Q3FY18: 66.2%, Q2FY19: 76.2%)....