• Pricing and utilization: HEG recorded 91% capacity utilization on its 100,000-ton capacity, with sequential pricing rising 7% to 8% and quarterly volumes reaching approximately 24,000 tons.
• Margin and EBITDA outlook: First-quarter EBITDA margin reached around 29%, and management sees potential for full-year EBITDA to exceed ₹700 to ₹750 crore as upcoming price increases in the second half outpace an anticipated 10% to 15% rise in needle coke costs.
• Geographic demand shift: The company redirected 15% of its sales volume from the Middle East to the US market to navigate regional conflict, while continuing expansion to raise total graphite electrode capacity from 100,000 tons to 115,000 tons.
• Demerger and anode business: The corporate demerger is expected to conclude in August with relisting roughly 60 days later, while the 60%-complete green-tech anode plant is slated for production by May next year and projected to deliver more than ₹1,000 crore in EBITDA by 2030.