Press Release

HEG/SECTT/2026 July 24, 2026 1 BSE Limited 2 National Stock Exchange of India Limited P J Towers Exchange Plaza, 5th Floor Dalal Street Plot No.C/1, G Block, Bandra - Kurla Complex MUMBAI - 400 001. Bandra (E), MUMBAI - 400 051. Scrip Code : 509631 Scrip Code : HEG Sub: Press Release Dear Sir/Madam, Please find attached the Press Release being issued by the Company in relation to its Q1 FY27 financial results and update on the Composite Scheme of Arrangement. Kindly take the same on record. Thanking you, Yours faithfully, For HEG Limited Vivek Chaudhary Company Secretary A-13263 heg.investor@lnjbhilwara.com Encl: As above HEG Limited Reports Q1 FY27 Consolidated profit a(cid:332)er tax rises 22.6% YoY to INR 122.34 Cr HEG Limited (BSE: 509631, NSE: HEG), part of the LNJ Bhilwara Group, today announced its unaudited standalone and consolidated financial results for the first quarter of financial year 2026-27 (Q1 FY27), ended June 30, 2026, reviewed by the Audit Commi(cid:425)ee and approved by the Board of Directors at its mee(cid:415)ng held on July 22, 2026. The results were subjected to limited review by the Company's statutory auditors, M/s SCV & Co. LLP, Chartered Accountants. On a standalone basis - Revenue from opera(cid:415)ons in Q1FY27 was INR 680.91 crore, up 11.1%. Profit before tax rose 64.2% year-on-year to INR 151.79 crore in June 2026 quarter, and profit a(cid:332)er tax increased 52.5% y-o-y to INR 109.50 crore in Q1FY27. Basic and diluted earnings per share were INR 5.67 for the June 2026 quarter, compared with INR 3.72 a year earlier. On a consolidated basis - comprising HEG Limited, its wholly owned subsidiaries TACC Limited, HEG Graphite Limited and Bhilwara Infotechnology Limited, and its share of profit from associate Bhilwara Energy Limited - revenue from con(cid:415)nuing opera(cid:415)ons was INR 680.79 crore in Q1FY27, up 11.1 percent year-on-year. Consolidated profit before tax, including the Company's INR 30.50 crore share of profit from associates, rose 36.1 percent to INR 165.08 crore in June 2026 quarter. Consolidated profit a(cid:332)er tax from con(cid:415)nuing opera(cid:415)ons increased 22.6 percent year-on- year to INR 122.34 crore in Q1FY27, while consolidated basic earnings per share from con(cid:415)nuing opera(cid:415)ons rose to INR 6.34 in June 2026 quarter from INR 5.17 a year earlier. Segment Performance The graphite electrode segment, the Company's principal business, remained the primary driver of growth. Standalone graphite segment revenue was INR 677.77 crore for Q1 FY27, up 11.3%, while segment results more than doubled to INR 149.64 crore in June 2026 quarter. The power segment, comprising the Company's hydro power plant at Tawa Nagar, contributed segment revenue of INR 3.14 crore for the June 2026 quarter; this segment is seasonal, with genera(cid:415)on intermi(cid:425)ent in the first quarter, ramping up with the monsoon in the second quarter and tapering in the fourth quarter. Standalone total assets stood at INR 5,784.28 crore as at June 30, 2026 (INR 5,693.54 crore as at March 31, 2026), against total liabili(cid:415)es of INR 1,371.62 crore (INR 1,390.37 crore as at March 31, 2026). On a consolidated basis, total assets were INR 6,333.97 crore and total liabili(cid:415)es were INR 1,453.78 crore as at June 30, 2026. "We have begun FY27 on a strong note, delivering an 11% growth in revenue from opera(cid:415)ons and a 23% increase in profit a(cid:332)er tax. The improvement in our performance reflects the con(cid:415)nued focus on opera(cid:415)onal excellence, cost op(cid:415)miza(cid:415)on and disciplined execu(cid:415)on across the business. While the global steel industry con(cid:415)nues to witness periods of vola(cid:415)lity, we remain encouraged by the improving demand environment for graphite electrodes in key markets. Our emphasis on product quality, customer rela(cid:415)onships and manufacturing efficiencies con(cid:415)nues to strengthen our compe(cid:415)(cid:415)ve posi(cid:415)oning. As we move ahead, we remain commi(cid:425)ed to crea(cid:415)ng long-term value through prudent capital alloca(cid:415)on, opera(cid:415)onal resilience and sustained investments in technology, sustainability and growth opportuni(cid:415)es." — Ravi Jhunjhunwala, Chairman, Managing Director & CEO, HEG Limited Update on the Composite Scheme of Arrangement The Board also provided an update on the previously approved Composite Scheme of Arrangement amongst HEG Limited, HEG Graphite Limited (the Resul(cid:415)ng Company) and Bhilwara Energy Limited (the Transferor Company). Under the Scheme: (a) the Demerged Undertaking — i.e., the Company's graphite business — is to be demerged from HEG Limited into HEG Graphite Limited on a going-concern basis, with HEG Graphite Limited issuing equity shares to HEG Limited's shareholders in considera(cid:415)on; and (b) Bhilwara Energy Limited is to be amalgamated with HEG Limited, with HEG Limited issuing equity shares to Bhilwara Energy Limited's shareholders (other than HEG Limited itself) in considera(cid:415)on. The Appointed Date for the Scheme is April 1, 2024. Following the board and shareholder approvals of both companies and the requisite no-objec(cid:415)on / observa(cid:415)on le(cid:425)ers from BSE Limited and the Na(cid:415)onal Stock Exchange of India (received on January 8 and 9, 2026 respec(cid:415)vely), the Scheme was filed with the Hon'ble Na(cid:415)onal Company Law Tribunal (NCLT), Indore Bench, on January 24, 2026. Pursuant to the NCLT's order dated March 26, 2026, mee(cid:415)ngs of the equity shareholders and secured and unsecured creditors of both HEG Limited and Bhilwara Energy Limited were convened on May 5, 2026, at which the Scheme was duly approved. Following a hearing on July 2, 2026, the NCLT has reserved its order in the ma(cid:425)er. Pending receipt of the final order and other statutory approvals, no adjustments in respect of the Scheme have been made to the unaudited financial results for the quarter ended June 30, 2026. About HEG Limited HEG Limited, part of the LNJ Bhilwara Group, is one of the world's leading manufacturers of graphite electrodes, used primarily in electric arc furnace steelmaking. The Company also operates a hydro power facility at Tawa Nagar, Madhya Pradesh, and, through its subsidiaries and associate, is engaged in advanced ba(cid:425)ery materials, ba(cid:425)ery energy storage solu(cid:415)ons and green power genera(cid:415)on businesses that are the subject of the Company's ongoing Composite Scheme of Arrangement. HEG is listed on the BSE (Scrip Code: 509631) and the Na(cid:415)onal Stock Exchange of India (Symbol: HEG). Its registered office is at Mandideep (Near Bhopal), Dis(cid:425). Raisen, Madhya Pradesh, and its corporate office is at Bhilwara Towers, Noida. Disclaimer All financial figures above are unaudited and have been reviewed limited review by the Company's statutory auditors in accordance with Regula(cid:415)on 33 of the SEBI (Lis(cid:415)ng Obliga(cid:415)ons and Disclosure Requirements) Regula(cid:415)ons, 2015. This press release contains forward-looking statements rela(cid:415)ng to the proposed Scheme of Arrangement, name change and business plans; such statements are based on current management expecta(cid:415)ons and are subject to risks and uncertain(cid:415)es, and actual results may differ materially.