This Graphite Manufacturing Stock Rallied 11% Today; Top Gainer on Nifty500

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This Graphite Manufacturing Stock Rallied 11% Today; Top Gainer on Nifty500
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the carbon and graphite manufacturing company HEG Ltd. (NS: HEGL ) rallied 11% to Rs 2,274 apiece at 1:00 pm on Wednesday, led by stellar quarterly earnings results for the September-ended quarter.

The stock rallied 13% in today’s session and is the top gainer on the Nifty500 Nifty 500 index on Wednesday.

The graphite manufacturer’s reported a consolidated net profit of Rs 131.52 crore for the September quarter, compared to a net loss of Rs 15.36 crore in the same quarter last year, surging to a record 956.2%. The company’s capacity utilisation for the quarter in focus was recorded at 90%.

Its net sales increased by 60.3% on a YoY basis to Rs 517.56 crore, while the company’s price growth has been in the 20% levels, and the company states that it would pass on the rising input costs to the customers.

HEG’s operating margin rose 757% on a YoY basis to Rs. 167.28 crore for Q2 FY22, while its Earnings per share (EPS) has risen to Rs 34.07 in September 2021, up 756% YoY.

HEG’s stock opened 5.5% higher on Wednesday, from its previous close of Rs 2,049.55, and has given returns of 192.1% over the last year.

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