HEGAM's quarter leans on other income as anode capacity expansion advances
The company reported a 45.62% operating margin and outlined graphene-based and silicon-doped anode products for premium EV and electronics applications.
Filed 04 Nov 2026, 18:19 IST · after market close · HEGAM (HEGAM)
Key takeaways
- Other income of Rs 116.65 cr was a major contributor to consolidated profit before tax of Rs 278.53 cr, so operating profit of Rs 196.13 cr gives a cleaner view of the quarter.
- Management said HEGAM is scaling its anode platform from 20K MT to 44K MT, adding 24K MT of capacity.
- Management said its silicon-doped anodes are designed to deliver more than 20% higher energy density for higher-capacity and faster-charging applications.
Price around the results
Other income was central to the profit profile
HEGAM's consolidated Q2FY27 results show operating profit of Rs 196.13 cr, while profit before tax was Rs 278.53 cr. Other income of Rs 116.65 cr was a major contributor to the pre-tax result, making operating performance more relevant than reported profit alone. Interest of Rs 19.71 cr and depreciation of Rs 14.54 cr also sat between operating profit and pre-tax profit.
Anode expansion is the main business development
Management said it is scaling the anode platform from 20K MT to 44K MT, adding 24K MT of capacity. The company also said it is developing graphene-based anodes for fast-charging and high-power applications, with premium EV and electronics segments as target markets. Management said its silicon-doped anodes are intended to provide more than 20% higher energy density and improved performance.
No market reaction was available at filing
The consolidated results were filed after market close on 4 Nov 2026, so this quarter's stock reaction is not part of the reported result. The 45.62% operating margin and the Rs 116.65 cr contribution from other income are the key reference points for the next disclosure.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 |
|---|---|
| Revenue | ₹430 cr |
| Other income | ₹117 cr |
| Expenses | ₹234 cr |
| Operating profit | ₹196 cr |
| Operating margin (%) | 45.62% |
| Interest | ₹20 cr |
| Depreciation | ₹15 cr |
| Profit before tax | ₹279 cr |
| Tax | ₹70 cr |
| Net profit | ₹306 cr |
| EPS (₹) | ₹9.73 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Expansion
- The company is scaling its anode platform from 20K MT to 44K MT, adding 24K MT of capacity.
New products
- The company is developing graphene-based anode products targeting premium EV and electronics segments.
New initiatives
- The company is developing multiple high-speed graphene-based anode products for fast-charging and high-power applications.
- The company has developed silicon-doped anodes intended to provide over 20% higher energy density and improved performance.
What to watch
- Whether operating margin holds above 45.62% in the next reported quarter.
- Progress toward the stated 44K MT anode-platform capacity.
- Whether other income remains a material part of profit before tax compared with Rs 116.65 cr this quarter.