HEG Advanced Materials shares gains 10% on ₹1,606-crore anode expansion plan

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SENSEX 77,078.75

+ 160.90

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+ 44.70

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+ 44.70

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+ 16.00

CRUDEOIL 9,120.00

+ 16.00

GOLD 142,300.00

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Capacity to rise to 44,000 tonnes by 2029; first phase on track for commercial operations in June 2027

By BL Mumbai Bureau

Updated - November 04, 2026 at 01:58 PM. | Mumbai

Shares of HEG Advanced Materials surged nearly 10 per cent on Wednesday after the company reported strong Q2 FY27 earnings and announced a ₹1,606-crore expansion of its anode manufacturing capacity to 44,000 tonnes.

The stock touched an intraday high of ₹270 on Wednesday on the NSE, taking the company’s market capitalisation to over ₹8,500 crore.

The company reported consolidated revenue from continuing operations of ₹430 crore for the September quarter, while total income stood at ₹547 crore. EBITDA was ₹313 crore and profit after tax stood at ₹209 crore.

The board has approved an expansion of its anode manufacturing capacity from 20,000 tonnes to 44,000 tonnes at an investment of ₹1,606 crore. The additional 24,000-tonne facility is targeted for commissioning by March 2029.

Construction of the first 20,000-tonne phase has achieved 61 per cent overall progress, with the process building 72.25 per cent complete. Commercial operations are expected to begin in June 2027.

The expansion will leverage existing infrastructure, power connectivity and land at the company’s Dewas facility.

TACC, the group’s anode and graphene business, is also developing next-generation silicon-doped and graphene-based anode materials aimed at improving battery energy density and enabling faster charging.

Meanwhile, its battery energy storage arm, REPLUS Engitech, is pursuing a 5 GWh expansion that will take its total capacity to 6 GWh.

Riju Jhunjhunwala, Chairman, MD and CEO, said the company was focused on building a technology-led advanced materials platform through investments in R&D, proprietary technologies and scalable businesses.

Its green power business, comprising two hydro projects and a wind project, is debt-free. The hydro assets generate annual cash flows of over ₹300 crore, providing financial stability to the group.

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Published on November 4, 2026

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