Total expenses rose 21.82% to Rs 643.54 crore in Q2 FY26 compared with Rs 528.27 crore in Q2 FY25. During the quarter, cost material consumed stood at Rs (down 6.77% YoY), employee benefit expenses was at Rs 28.90 crore (up 26.64% YoY), power & fuel expenses stood at Rs 92.58 crore (up 3.04% YoY) while finance cost stood at Rs 8.92 crore (down 4.5% YoY).

Meanwhile, the company’s board approved a proposal to enter into a debenture subscription agreement with its wholly owned subsidiary, TACC, for subscribing to unlisted and unsecured optionally convertible debentures (OCDs) aggregating up to Rs 633 crore to be issued by TACC.

Further, the board also noted that Bhilwara Technology, a subsidiary of the company, has approved the sale of its 26% shareholding in Texnere India, as per a valuation report by a SEBI-registered Category-I Merchant Banker.

HEG is India's leading graphite electrode manufacturer. It has one of the largest integrated graphite electrode plants in the world, processing sophisticated UHP (ultra high power) electrodes.