Ind-Ra affirms HEG's long-term issuer rating

India Ratings and Research (Ind-Ra) has affirmed HEG Limited's Long-Term Issuer Rating at 'IND AA-'. The Outlook is Stable.

The affirmation reflects HEG's strong operating and financial performance over FY22, resulting in a bolstered finance profile, led by strong on-balance sheet liquidity and the consequent net-cash status of the entity. The company's business profile is strengthened by the oligopolistic nature of the industry, the low production cost advantages it enjoys due to its single-location plant, labour cost advantages and so on. The ratings, however, are constrained by the company's limited product diversification, the volatility in its raw material prices and the continuance of limited bargaining power within the value chain.

Shares of HEG Limited was last trading in BSE at Rs. 1068.50 as compared to the previous close of Rs. 1082.25. The total number of shares traded during the day was 40407 in over 5096 trades.

The stock hit an intraday high of Rs. 1108.50 and intraday low of 1059.25. The net turnover during the day was Rs. 43823151.00.

Source : Equity Bulls

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HEG INE545A01016 RatingUpdate Reaffirmed LongTerm IssuerRating