HEG rose 3.04% to Rs 1275 after the company's consolidated net profit surged 180.1% to Rs 159 crore on 74.5% increase in net sales to Rs 721.95 crore in Q1 June 2022 over Q1 June 2021.
On a consolidated basis, the company's PAT rose 23% and net sales increased 7.26% in Q1 June 2022 over Q4 March 2022.Profit before exceptional items and tax (PBT) stood at Rs 180.32 crore in Q1 June 2022, up 18.71% quarter-on-quarter and up 141.8% year-on-year.
Total expense climbed 57.6% YoY to Rs 537.93 crore in Q1 FY23. Cost of raw material consumed stood at Rs 330.93 crore (up 106% YoY) and employee expenses stood at Rs 23.17 crore (up 29.6% YoY).
The company had undertaken an expansion project to increase the existing capacity from 80,000 tons to 100,000 tons. The management expects the expansion project to be completed by December 22 and ready with commercial production by early 2023.
HEG is India's leading graphite electrode manufacturer. It has one of the largest integrated Graphite Electrode plants in the world, processing sophisticated UHP (Ultra High Power) Electrodes. The company exports over 70% of its production to more than 30 countries of the world.
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