HEG Complete Financial Statements
12 Years of Data
2026 - 2015
In FY2026, HEG (HEG) reported revenue ₹675 Cr, net profit ₹-114 Cr and EPS ₹-5.90, with a net profit margin of -16.9% and ROE of -2.4%. Full financial statements from FY2015 to FY2026 (12 years) — income statement, balance sheet and cash flow in ₹ Crores. Download as Excel or CSV. Explore HEG true value to estimate fundamental worth using multiple valuation models.
Complete Financial Data Export
Profitability Ratios
Net Profit Margin
-16.89%
2026 data
EBITDA Margin
-11.41%
2026 data
Operating Margin
-25.00%
2026 data
Return on Assets
-1.85%
2026 data
Return on Equity
-2.40%
2026 data
Balance Sheet Ratios
Current Ratio
29.52
2026 data
Equity Ratio
77.17%
2026 data
Asset Turnover
0.11
2026 data
HEG Revenue, Net Profit & EBITDA — Year-on-Year Growth
HEG YoY (Mar 2025 vs Mar 2026) — revenue +15.4%, net profit -54.1%, EBITDA -327.8%, expenses +24.7%. For live price, earnings ratios and company overview, see HEG stock price BSE.
Revenue Growth
+15.4%
Year-over-Year
Net Profit Growth
-54.1%
Year-over-Year
EBITDA Growth
-327.8%
Year-over-Year
Expense Growth
+24.7%
Year-over-Year
Assets Growth
+9.2%
Year-over-Year
Equity Growth
+6.8%
Year-over-Year
Operating Cash Flow Growth
-54.2%
Year-over-Year
Investing Cash Flow Growth
-12.5%
Year-over-Year
Financing Cash Flow Growth
+50.9%
Year-over-Year
HEG Income Statement — Revenue, EBITDA & Net Profit
HEG revenue ₹675 Cr, EBITDA ₹-77 Cr, net profit ₹-114 Cr, EPS ₹-5.90 (2026) — net profit margin -16.9%. Review HEG P/E valuation to evaluate earnings-based valuation against sector peers.
Periods
₹ Crores
| Particulars | Mar 2026 | Sept 2025 | Mar 2025 | Jun 2025 | Dec 2025 | Sept 2024 | Mar 2024 | Jun 2024 | Dec 2024 | Sept 2023 | Mar 2023 | Jun 2023 | Dec 2023 | Sept 2022 | Mar 2022 | Jun 2022 | Dec 2022 | Sept 2021 | Mar 2021 | Jun 2021 | Dec 2021 | Sept 2020 | Mar 2020 | Jun 2020 | Dec 2020 | Sept 2019 | Mar 2019 | Jun 2019 | Dec 2019 | Sept 2018 | Jun 2018 | Dec 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 675 | 819 | 585 | 700 | 823 | 631 | 611 | 613 | 590 | 677 | 659 | 739 | 592 | 618 | 691 | 743 | 570 | 543 | 406 | 436 | 612 | 339 | 417 | 279 | 345 | 599 | 1,389 | 856 | 421 | 1,814 | 1,595 | 1,902 |
| Expenses | 752 | 581 | 603 | 512 | 513 | 471 | 506 | 533 | 412 | 512 | 493 | 520 | 476 | 419 | 516 | 538 | 398 | 376 | 385 | 341 | 441 | 365 | 872 | 245 | 321 | 425 | 559 | 469 | 389 | 425 | 399 | 552 |
| EBITDA | -77 | 238 | -18 | 189 | 309 | 160 | 105 | 80 | 179 | 165 | 166 | 219 | 117 | 198 | 174 | 205 | 172 | 167 | 20 | 95 | 171 | -26 | -455 | 35 | 24 | 174 | 830 | 387 | 32 | 1,389 | 1,196 | 1,351 |
| Operating Profit Margin % | -25.00% | 17.00% | -12.00% | 17.00% | 22.00% | 17.00% | 8.00% | 7.00% | 14.00% | 17.00% | 20.00% | 23.00% | 15.00% | 30.00% | 23.00% | 25.00% | 25.00% | 27.00% | -1.00% | 18.00% | 26.00% | -13.00% | -133.00% | -5.00% | 0.00% | 25.00% | 59.00% | 43.00% | 1.00% | 76.00% | 75.00% | 70.00% |
| Depreciation | 53 | 54 | 55 | 53 | 54 | 48 | 50 | 48 | 51 | 39 | 33 | 38 | 47 | 23 | 21 | 21 | 25 | 18 | 19 | 19 | 21 | 18 | 19 | 18 | 19 | 18 | 18 | 18 | 18 | 18 | 18 | 19 |
| Interest | 11 | 9 | 12 | 8 | 9 | 9 | 9 | 9 | 9 | 9 | 7 | 9 | 10 | 7 | 1 | 4 | 8 | 1 | 1 | 1 | 4 | 3 | 9 | 6 | 1 | 10 | 6 | 9 | 9 | 5 | 2 | 4 |
| Profit Before Tax | -140 | 175 | -85 | 128 | 246 | 103 | 46 | 24 | 119 | 118 | 125 | 172 | 59 | 168 | 152 | 180 | 139 | 148 | 1 | 75 | 146 | -47 | -483 | 11 | 4 | 146 | 806 | 360 | 6 | 1,366 | 1,177 | 1,329 |
| Tax | -26 | 32 | -11 | 23 | 39 | 20 | 14 | 1 | 35 | 22 | 25 | 33 | 16 | -1 | 23 | 21 | 34 | 17 | 17 | 18 | 32 | -32 | -106 | -3 | 5 | -56 | 324 | 117 | 7 | 463 | 401 | 463 |
| Net Profit | -114 | 143 | -74 | 105 | 207 | 82 | 33 | 23 | 83 | 96 | 100 | 139 | 44 | 169 | 129 | 159 | 105 | 132 | -16 | 57 | 114 | -15 | -377 | 14 | -1 | 202 | 482 | 244 | -1 | 903 | 776 | 866 |
| Earnings Per Share (₹) | -5.90 | 7.43 | -3.82 | 5.43 | 10.72 | 21.48 | 8.53 | 5.97 | 4.32 | 24.87 | 25.84 | 36.05 | 11.32 | 43.77 | 33.49 | 41.20 | 27.13 | 34.07 | -4.17 | 14.71 | 29.40 | -3.98 | -97.67 | 3.71 | -0.21 | 52.42 | 124.96 | 63.08 | -0.32 | 225.93 | 194.11 | 216.58 |
HEG Balance Sheet — Assets, Liabilities & Shareholders' Equity
HEG total assets ₹6,166 Cr, total equity ₹4,758 Cr, total liabilities ₹ Cr (2026) — ROE -2.4%.
Years
Annual Data
₹ Crores
| Particulars | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||||
| Total Assets | 6,166 | 5,648 | 5,701 | 5,692 | 5,308 | 4,244 | 4,438 | 5,144 | 2,739 | 1,853 | 1,953 | 2,246 |
| Current Assets | 2,893 | 2,457 | 2,630 | 2,853 | 3,007 | 2,074 | 2,059 | 3,436 | 1,615 | 701 | 735 | 926 |
| Fixed Assets | 2,012 | 1,938 | 1,816 | 1,363 | 763 | 694 | 745 | 788 | 833 | 889 | 935 | 907 |
| Capital Work in Progress | 224 | 71 | 212 | 472 | 696 | 373 | 101 | 19 | 2 | 1 | 27 | 108 |
| Investments | 1,134 | 1,400 | 1,200 | 859 | 1,171 | 1,358 | 1,245 | 942 | 248 | 231 | 225 | 0 |
| Other Assets | 0 | 2,238 | 2,474 | 2,998 | 2,678 | 1,819 | 2,348 | 3,396 | 1,656 | 732 | 767 | 1,232 |
| LIABILITIES | ||||||||||||
| Total Liabilities | ||||||||||||
| Current Liabilities | 98 | 109 | 108 | 95 | 107 | 105 | 110 | 133 | 125 | 202 | 212 | 354 |
| Non-Current Liabilities | ||||||||||||
| SHAREHOLDERS' EQUITY | ||||||||||||
| Total Equity | 4,758 | 4,454 | 4,426 | 4,281 | 3,914 | 3,495 | 3,512 | 3,794 | 1,908 | 953 | 996 | 1,014 |
| Share Capital | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 40 | 40 | 40 | 40 |
| Reserves & Surplus | 4,719 | 4,415 | 4,387 | 4,242 | 3,875 | 3,457 | 3,473 | 3,755 | 1,868 | 913 | 956 | 974 |
HEG Cash Flow Statement — Operating, Investing & Financing
HEG operating cash flow ₹280 Cr, investing ₹-207 Cr, financing ₹-159 Cr, net cash flow ₹-86 Cr (2025).
Periods
₹ Crores
| Particulars | March 2025 | March 2024 | March 2023 | March 2022 | March 2021 | March 2020 | March 2019 | March 2018 | March 2017 | March 2016 | March 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | 280 | 612 | 113 | -141 | 716 | 739 | 1,488 | 594 | 157 | 249 | 277 |
| Investing Activities | -207 | -184 | -21 | -183 | -417 | -276 | -676 | -9 | -1 | -29 | -83 |
| Financing Activities | -159 | -324 | -100 | 344 | -310 | -460 | -789 | -588 | -153 | -220 | -202 |
| Net Cash Flow | -86 | 104 | -8 | 20 | -11 | 4 | 24 | -3 | 3 | 1 | -8 |