India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#434- Valuation
- ₹11,560 Cr
2021 #359
Revenue · FY 2026
₹2,709.48 Cr
▲ 18% YoY
Net profit · FY 2026
₹337.97 Cr
Net margin 12.5%
EBITDA · FY 2026
₹654.79 Cr
EBITDA margin 24.2%
Authorised capital
₹310 Cr
Registered with MCA
Paid-up capital
₹65.96 Cr
Issued & subscribed
Open charges
₹2,739 Cr
Satisfied ₹4,790.59 Cr
Company age
54 yrs
Est. 1972
Employees · EPFO
1,082
Provident fund records
About Heg Limited
Data last updated:
Heg Limited is a public limited company based in Raisen, Madhya Pradesh, India. It operates in the cable and wire segment of the manufacturing sector. It was incorporated on 27 October 1972 and has been in existence for over 54 years.
Its director Ravi Jhunjhunwala and family are #376 among India's richest people (2026). Its director Sandip Somany and family are #724 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Gwalior, under CIN L23109MP1972PLC008290. Its GSTIN is 23AAACH6184K1ZH (Madhya Pradesh). The company holds 10 GST registrations, of which 5 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 509631.
The company has an authorised share capital of ₹310 Cr and a paid-up capital of ₹65.96 Cr. It is led by directors including Ravi Jhunjhunwala (Managing Director) and Manish Gulati (Whole-Time Director).
Its last annual general meeting (AGM) was held on 20 August 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Mandideep Near Bhopal, Raisen, Madhya Pradesh, India – 462046.
As per the financials filed for FY 2026, the company reported a revenue of ₹2,709.48 Cr, a growth of 18% compared to the previous year. For the same year it recorded a net profit of ₹337.97 Cr (net margin 12.5%) and EBITDA of ₹654.79 Cr (EBITDA margin 24.2%). Revenue has grown at a compounded annual rate (CAGR) of 2% over three years and 15% over five years.
The company has about 1,082 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 2 brands: HEG Limited and LNJ Bhilwara Group. As per MCA filings, the company has open charges of ₹2,739 Cr and satisfied charges of ₹4,790.59 Cr on record. Court records list 21 cases involving the company, including 5 filed by the company and 16 filed against it; 3 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website hegltd.com.
Company details
CIN L23109MP1972PLC008290
Registration Number 008290
Incorporation Date 27 October 1972
ROC Gwalior
Listing Status Listed - Listed on BSE (509631)
Company Status Active
Date of Last AGM 20 August 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
CIN history
Heg has one previous CIN (Corporate Identification Number): L23109MP1994PLC008290. The current CIN is L23109MP1972PLC008290, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L23109MP1972PLC008290 | Current |
| L23109MP1994PLC008290 | Previous |
Key People
Ravi Jhunjhunwala Managing Director Manish Gulati Whole-Time Director Ramni Nirula Director Recognitions & Rankings of Heg
India's Richest People 2026 edition · 3 directors · Source: Hurun India
- #376 Ravi Jhunjhunwala & family ₹9,900 Cr
- #724 Sandip Somany & family ₹4,400 Cr
- #912 Jayant Davar & Family ₹3,200 Cr
Contact details
Heg Limited's registered office is in Raisen, Madhya Pradesh. Its website is hegltd.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressMandideep Near Bhopal, Raisen, Madhya Pradesh, India – 462046
- IndustryManufacturing, Cable & Wire
To see the full contact details of Heg Limited, buy the company report.
Comprehensive company report
Heg Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Heg operates two associated brands: HEG Limited and LNJ Bhilwara Group. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Graphite electrodes are manufactured by HEG for industrial applications. | hegltd.com | |
| Diversified conglomerate operating across multiple industries | lnjbhilwara.com |
Business activity
The main business activity of Heg is manufacturing. In detail, this covers manufacture of other non-metallic mineral products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | 23 | Manufacture of other non-metallic mineral products |
To see the full business activity and turnover split of Heg Limited, buy the company report.
Financials of Heg Limited
FY 2026 filings availableHeg Limited reported revenue of ₹2,709.48 Cr (up 18% YoY) for FY 2026.
Revenue · FY 2026
₹2,709.48 Cr ▲ 18%
Net profit · FY 2026
₹337.97 Cr margin 12.5%
EBITDA · FY 2026
₹654.79 Cr margin 24.2%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 18%
3 years · compounded
▲ 2%
5 years · compounded
▲ 15%
EBITDA CAGR growth
1 year
▲ 71%
3 years · compounded
▲ 2%
Revenue has grown at a compounded annual rate (CAGR) of 15% over five years, including 18% growth in the latest year. EBITDA rose 71% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹2,709.48 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹654.79 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹337.97 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 24.2% | ||||
| Net Profit Margin | 12.5% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Heg Limited, buy the company report.
Board of directors of Heg Limited
Heg has 10 current directors and 18 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ramni Nirula Also directs: Usha Martin Limited, Samvedna Microfinance Private Limited, DRN Investments and Agriculture Private Limited and 1 more | Director | 31 Oct 2018 | 8 Years 0 Months | Current |
| Jayant Davar Also directs: Multiples Private Equity Fund II LLP, Sandhar Infosystems LLP, Sandhar Technologies Limited and 4 more | Director | 14 Aug 2019 | 7 Years 2 Months | Current |
| Manish Gulati Also directs: Heg Graphite Limited | Whole-Time Director | 01 Mar 2020 | 6 Years 8 Months | Current |
| Ravi Jhunjhunwala Also directs: Malana Power Company Limited, Ad Hydro Power Limited, Riju Advisory and Consulting LLP and 5 more | Managing Director | 08 Sep 1979 | 47 Years 1 Months | Current |
| Kamal Gupta Also directs: Malana Power Company Limited, Ad Hydro Power Limited | Director | 14 Nov 2024 | 1 Years 11 Months | Current |
| Shekhar Agarwal | Director | 15 Jul 1996 | 30 Years 3 Months | Current |
Showing 6 of 10 current directors. View all directors
Auditor
Heg Limited is audited by SCV & Co. LLP for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SCV & Co. LLP | FY 2025 | 000235N/N500089 |
Shareholding
The shareholding of Heg Limited is on record for 5 financial years, the latest being FY 2025, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2025 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Heg Limited, buy the company report.
Charges & borrowings
Open charges
₹2,739 Cr
Satisfied charges
₹4,790.59 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 May 2026 | 101297577 | Sbicap Trustee Company Limited | ₹1,239 Cr | Open | |
| 18 Jun 2019 | 100273100 | Sbicap Trustee Company Limited | ₹1,500 Cr | Open | |
| 01 Apr 2022 | 100561305 | Others | ₹30 Cr | Satisfied | |
| 25 Feb 2019 | 100243935 | Others | ₹155 Cr | Satisfied | |
| 29 Mar 2017 | 100092906 | Yes Bank Limited | ₹100 Cr | Satisfied |
To see the full charge records of Heg Limited, buy the company report.
Total charge records: 131 View all charges
Legal cases
Heg Limited has 21 court cases on record: 5 filed by Heg, 16 filed against it. 3 cases are pending and 18 are disposed.
Total cases
21
Filed by the company
5
Filed against the company
16
Pending
3
Disposed
18
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 15 | 14 | 3 |
| Supreme Court | 5 | 1 | 0 |
| High courts | 1 | 1 | 0 |
Cases on record (5 of 21)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Nashik, Maharashtra | Arbitration matter | Filed by the company against Rahul Technocrafts Pvt Ltd | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Ss cases SW) | Filed against the company by The Shipping Corporation of India Ltd. Cap. R. K | Disposed |
| High Court | Company petition | Filed against the company by Gontermann Peipers (India) Ltd. | Disposed |
| District court, Jaipur Metro I, Rajasthan | Civil miscellaneous application | Filed against the company by an individual | Pending |
| District court, Bhilwara, Rajasthan | Civil miscellaneous application | Filed against the company by an individual | Pending |
To see the full case history of Heg Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Heg Limited was last rated by Indiarating on 13 Jul 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 13 Jul 2021 |
To see the full credit ratings and regulatory alerts of Heg Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Heg Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Heg has 1 subsidiary company and 2 associated companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
2
Associated companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Tacc Limited | U31909MP2022PLC064004 |
To see the full group structure of Heg Limited, buy the company report.
Employees & EPFO
Heg Limited has a workforce of 1,082 employees on its EPFO records as of Apr 07, 2024, across 3 active EPFO establishments.
Employee count
1,082
Active EPFO establishments
3
Employee growth
16.59%
GST
Heg has 10 GST registrations: 5 active and 5 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
10
Active
5
Cancelled / inactive
5
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 23AAACH6184K1ZH | Madhya Pradesh | Active | 01 Jul 2017 |
| 27AAACH6184K1Z9 | Maharashtra | Active | 01 Jul 2017 |
| 29AAACH6184K1Z5 | Karnataka | Active | 01 Jul 2017 |
| 09AAACH6184K2Z6 | Uttar Pradesh | Active | 26 Jul 2017 |
To see the full GST registrations and return filing status of Heg Limited, buy the company report.
Recent activity
Heg Limited has 38 board changes on record since 1979: 25 appointments and 13 cessations. The latest: Kamal Gupta was appointed as Director on 14 Nov 2024.
Charges
A charge with Sbicap Trustee Company Limited amounted to Rs. 1,239.00 Cr with Charge ID 101297577 was registered on 27 May 2026.
Filing
Heg Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Gwalior.
AGM
Heg Limited last Annual general meeting of members was held on 20 Aug 2025 as per latest MCA records.
Charges
A charge with Sbicap Trustee Company Limited of Rs. 1,500.00 Cr registered on 18 Jun 2019 with Charge ID 100273100 was modified on 03 Jan 2025.
Appointed
Kamal Gupta was appointed as Director.
Appointed
Nand Khaitan was appointed as Director.
Appointed
Priya Shankar Dasgupta was appointed as Director.
Appointed
Sandip Somany was appointed as Director.
Ceased
Davinder Kumar Chugh ceased to be Director.
Charges
A charge registered on 01 Apr 2022 via Charge ID 100561305 with Others was fully satisfied on 11 Aug 2022.
Charges
A charge with Others amounted to Rs. 30.00 Cr with Charge ID 100561305 was registered on 01 Apr 2022.
Ceased
Om Parkash Bahl ceased to be Director.
378 earlier events are in the company report.
News
Frequently asked questions
Heg is an active public limited company based in Raisen, Madhya Pradesh, India. The company works in cable and wire, within the manufacturing industry. It was incorporated on 27 October 1972 (54+ years old) and is registered under CIN L23109MP1972PLC008290. Listed on BSE: 509631.
Heg has 10 current directors:
- Ravi Jhunjhunwala - Managing Director
- Manish Gulati - Whole-Time Director
- Ramni Nirula - Director
- Jayant Davar - Director
- Kamal Gupta - Director
- Shekhar Agarwal - Director
- Riju Jhunjhunwala - Director
- Priya Shankar Dasgupta - Director
- Nand Khaitan - Director
- Sandip Somany - Director
The latest financial statements of Heg on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 20 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Heg is 23AAACH6184K1ZH, registered in Madhya Pradesh. The company has 10 GST registrations in all, of which 5 are active and 5 are cancelled or inactive. Other active GSTINs include 27AAACH6184K1Z9 (Maharashtra), 29AAACH6184K1Z5 (Karnataka), 09AAACH6184K2Z6 (Uttar Pradesh).
The CIN (Corporate Identification Number) of Heg is L23109MP1972PLC008290. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Heg is a listed company as per MCA records. Its shares are listed on BSE (code: 509631).
Heg has 21 court cases on record: 5 filed by the company and 16 filed against it. 3 are pending. Most are in the district courts.
Heg was incorporated on 27 October 1972, making it 54+ years old. It is registered with the Registrar of Companies, Gwalior.
Kamal Gupta was appointed as Director on 14 Nov 2024. Nand Khaitan was appointed as Director on 13 Aug 2024. Priya Shankar Dasgupta was appointed as Director on 13 Aug 2024. Heg has 38 board changes on record in total.
Heg can be reached through the website hegltd.com. Its registered office is in Raisen, Madhya Pradesh, India.
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