HEG Limited — PPTs, 16-01-2026: Investor Presentation

HEG is executing a Composite Scheme of Arrangement to demerge its Graphite business into a new HEG Limited and rename the current entity HEG Greentech. Existing HEG shareholders will receive 1:1 shares in the new HEG Limited. This strategic move creates two focused, listed entities.

**Business Performance:** The existing hydropower assets consistently deliver strong performance with approximately 80% EBITDA margins and generate over ₹300 Crore in free cash flow annually, providing a stable base.

**Growth Drivers/Strategy:** HEG Greentech is building an integrated clean technology platform. Key focus areas include Advanced Battery Materials (anode manufacturing, graphene), Battery Energy Solutions (BESS, EV batteries), and Storage-led Renewable Energy (RE) IPP. The company is targeting 60 KTPA anode capacity by FY32 and aims for a 2.3 GWp solar plus 5.9 GWh BESS portfolio by FY30. It's expanding BESS operations in Europe, Middle East, and Africa.

**Recent Developments:** A 200 TPA anode demo plant is operational with samples qualified by global cell makers, and construction for a 20 KTPA commercial plant is underway. Significant offtake discussions are progressing. The company has secured a ₹500 Crore strategic investment from Singularity. It also acquired the remaining stake in its hydropower projects, securing full ownership.

**Key Financial Metrics:** Immediate capital expenditure for Greentech projects is approximately ₹4,300 Crore, with cumulative capex projected at ₹7,700 Crore by FY30.

**Management Outlook:** Management anticipates emerging as a top-three storage-led RE platform in India and a significant global player in anode manufacturing, leveraging its strong balance sheet and hydropower cash flows. They plan to use a "build and flip" model for RE IPP to enhance capital efficiency.