Credit rating agency, India Ratings & Research has reaffirmed HEG’s long-term issuer rating at ‘A+’ with stable outlook. The company has received the said rating on the back of its good fundamentals. The company’s EBITDA margins improved to 14.7% in FY13 from 10.5% in FY12 due to lower forex losses of Rs 55.20 crore as compared to Rs 92.85 crore.
Meanwhile, the company’s revenue grew 13.9% y-o-y to Rs 1622.60 crore in FY13 due to a 16% increase in revenue per tonne. However, the revenue declined 18% y-o-y to Rs 965.40 crore in 9MFY14 due to lower sales volumes in 1HFY14.
The company currently operates two divisions, Graphite Division which accounted for about 86% of the gross revenues in FY13 and Power Division which accounted for the balance.
