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HEG Limited's recent board meeting has led to several important decisions that could shape its strategic direction.
The company reported unaudited financial results for the quarter and half-year ended September 30, 2024, revealing a revenue of ₹1,139.06 crore, a decrease from ₹1,285.60 crore in the same period last year. Total income stood at ₹1,202.45 crore. Key financial metrics showed a profit before tax of ₹126.40 crore, with a profit after tax of ₹105.33 crore for the six-month period. The earnings per share have been adjusted to reflect the recent equity share split with a new face value of ₹2.
Additionally, the board approved the appointment of Dr. Kamal Gupta as a Non-Executive Director, the re-appointment of Shri Manish Gulati as Executive Director until February 28, 2030, and the appointment of Shri Ravi Kant Tripathi as Chief Financial Officer.
In a significant move, HEG Limited also plans to acquire an additional stake in Bhilwara Infotechnology Limited, converting it into a wholly-owned subsidiary. The acquisition, valued at approximately ₹37.27 crore, aims to enhance the company’s capabilities in IT-enabled services.
Investors should watch closely as these developments unfold, particularly the strategic shift towards technology and additional governance changes within the management team.