• Demerger timeline: NCLT approvals are expected by the middle to end of August, after which the new entity will be listed, with shareholders receiving one share of Greentech for every share held in HEG Graphite.
• Greentech project pipeline: The new company is developing a ₹2,500 crore project that includes a 20,000-tonne anode graphite plant (planned to expand to 60,000 tonnes over five years) and a 150-tonne graphene plant, targeted to be operational by April 2027.
• Profitability and EBITDA: Supported by ₹350 crore in annual free cash flow from 300 MW of operational hydro assets, the company anticipates a 40% to 50% ramp-up in FY28 and aims to exceed four-digit EBITDA by 2030.
• Capex funding plans: Growth capital will be funded through ₹900 crore in demerged cash, ₹500 crore in existing hydro reserves, annual operational cash flows, and investor capital, generating ₹2,000 to ₹2,500 crore in equity over the next two years.