Buy HEG, target price Rs 2220: Axis Securities

Axis Securities has buy call on HEG with a target price of Rs 2220. The current market price of HEG Ltd. is Rs 1830.4.
HEG Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 7045.80 Crore) operating in Industrial Consumables sector.

HEG Ltd. key Products/Revenue Segments include Electrodes Graphite, Export Incentives, Power, Other Operating Revenue and Fly Ash for the year ending 31-Mar-2022.



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 585.62 Crore, down -8.81 % from last quarter Total Income of Rs 642.19 Crore and up 3.25 % from last year same quarter Total Income of Rs 567.16 Crore. Company reported net profit after tax of Rs 36.99 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 55.78 per cent stake in the company as of 31-Dec-2023, while FIIs owned 6.85 per cent, DIIs 8.85 per cent.