HEG Advanced Materials Share Price Locks 20% Upper Circuit After Q2 FY27 Results: Profit, Expansion Plans and What to Check

The HEG Advanced Materials share price locked at the 20% upper circuit of Rs 288.79 on 4 November 2026, up from Rs 240.66, after the company reported a Q2 FY27 profit of Rs 208.89 crore. The board also cleared Rs 2,581 crore of expansion projects. Mint describes the move as the stock's biggest one-day gain in eight years, a claim we have not independently verified.

Prices are NSE data as of about 3:50 PM IST on 4 November 2026. Financials are consolidated for the quarter ended 30 September 2026, from the company's filing as reported by Business Today, Free Press Journal and TradeBrains. The company was demerged this year, so year-on-year comparisons follow the company's restated figures. This is not a recommendation.

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HEG Advanced Materials Share Price Today

NSE data (HEGAM)	Value
Previous close	Rs 240.66
Day open / low	Rs 252.00 / Rs 252.00
Day high (upper circuit)	Rs 288.79
Last traded price	Rs 288.18 (+19.75%) (as of about 3:50 PM IST on 4 November 2026)
Volume	About 2.15 crore shares
Approximate market capitalisation	Roughly Rs 9,200 crore (our estimate)

The HEG Advanced Materials share price opened with a gap up of about 5% and stayed near the ceiling all session. A 20% upper circuit band means the exchange allows no higher price that day, so demand can exceed what the price shows. HEG Advanced Materials is listed on Univest under its former name HEG Ltd, with the same ticker HEGAM.

Q2 FY27 Results Behind the HEG Advanced Materials Share Price

Metric (consolidated)	Q2 FY27	Q2 FY26
Revenue from operations	Rs 429.94 crore (+144%)	Rs 175.94 crore
Total income	Rs 546.59 crore	Rs 226.31 crore
Net profit	Rs 208.89 crore (+202%)	Rs 69.18 crore
EBITDA	Rs 312.78 crore	Not disclosed here

Half-year (H1 FY27)	Value
Revenue from operations	Rs 725.80 crore
Total income	Rs 870.77 crore
EBITDA	Rs 438 crore
Net profit	Rs 269.07 crore
Cash and bank balances (30 Sept 2026)	Rs 1,322.84 crore

Behind the HEG Advanced Materials share price move, Q1 FY27 profit was about Rs 60.19 crore, so the second quarter was roughly 3.5 times the first by our arithmetic. Total income exceeds revenue from operations by about Rs 117 crore, which suggests other income contributed heavily. Net profit of Rs 208.89 crore is about 49% of operating revenue, so investors should check how much of it is recurring.

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The Rs 2,581 Crore Expansion Plan

Project approved	Detail
Anode materials	Dewas plant to rise from 20,000 MT to 44,000 MT in two phases
Crucibles	New crucible manufacturing plant
Graphene	New graphene manufacturing capacity
Total capex	Rs 2,581 crore across three projects

For the HEG Advanced Materials share price, the first anode phase is due by June 2027, according to TradeBrains. Another report quoted a lower expansion figure, so please check the exchange filing for the exact capex split. The board also approved an employee stock option plan for 2026. Capacity additions could support the HEG Advanced Materials share price over time, but they also add execution and funding risk.

Business Background and Recent Triggers

Date	Event
Earlier in 2026	Demerger: graphite electrodes moved to HEG Graphite; battery, advanced materials and green power stayed in HEG Advanced Materials
21 Sept 2026	Stock hit a 5% upper circuit at Rs 248.90 after a Rs 217.56 crore Indus Towers battery order won by subsidiary Replus Engitech
3 Nov 2026	Board approved Q2 results, expansion projects and employee stock plan
4 Nov 2026	Stock locked at the 20% upper circuit

The HEG Advanced Materials share price has moved from about Rs 237 in September to Rs 288 now, a rise of roughly 22%. That reflects a business in transition, where battery energy solutions and anode materials are replacing the older graphite electrode earnings.

Risks to the HEG Advanced Materials Share Price

Risk	Why it matters
Quality of earnings	Large gap between total income and operating revenue
Falling delivery share	Delivery volume on 3 Nov was about 11.75% below its 5-day average, per MarketsMojo
Execution	Three new projects worth Rs 2,581 crore
Circuit-driven volatility	A 20% band can swing both ways
Demerger comparisons	Restated numbers may not be like-for-like

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Conclusion

The HEG Advanced Materials share price rally is backed by a large profit jump and an ambitious capex plan, but a 20% upper circuit often prices in good news quickly. Investors should check how much of Rs 208.89 crore is recurring, how the new capacity will be funded and whether delivery volumes support the move.

Frequently Asked Questions on HEG Advanced Materials Share Price

What is the HEG Advanced Materials share price today?

Ans. The stock traded at Rs 288.18 on the NSE, up 19.75%, at about 3:50 PM IST on 4 November 2026. It touched the 20% upper circuit of Rs 288.79 against a previous close of Rs 240.66.

Why did HEG Advanced Materials hit the upper circuit?

Ans. Investors reacted to Q2 FY27 results, in which consolidated profit rose 202% to Rs 208.89 crore on 144% higher revenue, and to a board approval of Rs 2,581 crore of expansion projects.

What were HEG Advanced Materials Q2 FY27 results?

Ans. Revenue from operations was Rs 429.94 crore against Rs 175.94 crore a year earlier, total income was Rs 546.59 crore, EBITDA was Rs 312.78 crore and net profit was Rs 208.89 crore against Rs 69.18 crore.

What expansion did HEG Advanced Materials approve?

Ans. The board approved three projects with combined capex of Rs 2,581 crore: raising anode capacity at Dewas from 20,000 MT to 44,000 MT in two phases, a crucible manufacturing plant and graphene capacity.

What is an upper circuit?

Ans. An upper circuit is the maximum price rise an exchange allows in a day for a stock. HEG Advanced Materials has a 20% band, so it could not trade above Rs 288.79 on 4 November. Trading can freeze if buyers outnumber sellers.

What happened to HEG Ltd?

Ans. The company was demerged. HEG Advanced Materials, the renamed listed company, keeps advanced materials, battery energy solutions and green power, while the graphite electrode business moved to a separate entity, HEG Graphite.

What are the risks of buying after an upper circuit?

Ans. A stock can reverse sharply after a 20% day, and part of the profit may come from other income. Delivery volumes were lower on the previous day, and new projects add execution risk. Check each factor before relying on the rally.

Should I buy HEG Advanced Materials after the 20% jump?

Ans. This article cannot give a personal recommendation. Review the quality of the Rs 208.89 crore profit, the capex funding and valuation after a 20% jump, size any position carefully and consult a SEBI-registered advisor before deciding.