Thursday, 10 May 2018

After 956% surge in a year, analysts now turn cautious on HEG

Given the stellar performance over the past year and what lies ahead, analysts are now turning cautious on the graphite electrode space. They see limited gain for the stock from here on China’s clamp down on polluting industrial plants that triggered a shut-down of nearly 30 per cent of graphite electrode capacity last year have proved to be a boon for HEG Ltd, which reported a turnaround performance in financial year 2017 – 18 (FY18). The consolidated net profit for FY17 came in at Rs 10.99 billion, compared to a net loss of Rs 440 million. For the fourth quarter ended March 2018 (Q4FY18), HEG clocked a net profit of Rs 6.34 billion, as compared to a net loss of Rs 34 million in year ago period.

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