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Investor Presentation | Q2 & H1 FY27 NSE: HEGAM BSE: 509631 HEG Advanced Materials Limited
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com 2 Safe Harbor Important Information & Forward-Looking Statements This presentation has been prepared by HEG Advanced Materials Limited (the "Company") solely for information purposes and does not constitute, nor should it be construed as, an offer, invitation, inducement or solicitation to purchase or subscribe for any securities of the Company. No part of this presentation shall form the basis of, or be relied upon in connection with, any contract or investment decision. This presentation contains forward-looking statements, including, but not limited to, statements relating to proposed capacity expansions and timelines, capital expenditure plans, market and demand projections, order pipelines, expected returns and financial estimates. Such statements are based on the management's current expectations, estimates and assumptions and are subject to known and unknown risks and uncertainties. Actual results may differ materially from those expressed or implied in such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement. Certain industry and market data contained in this presentation have been obtained from third-party sources and internal estimates and have not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of such information. Capacities and projects indicated as being under development or construction are subject to change. This presentation does not constitute investment, legal, tax or accounting advice. Accordingly, recipients should not place undue reliance on any statements contained herein.
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PRESENTATION CONTENT 01 About Us 02 Advanced Materials 03 Replus Engitech 04 Green Power Businesses 05 06Financial Performance 07 Corporate Leadership 08 AnnexureESG Practices
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Mr. Riju Jhunjhunwala Chairman, MD & CEO Q2 FY27 reflects our continued progress towards building HEG Advanced Materials into a technology-led, globally competitive advanced materials platform. Our focus is on strengthening R&D, developing proprietary technologies and creating differentiated, scalable businesses across anode materials, graphene, battery energy storage and green power. Our motto remains - research to revenue! As we move forward, our priorities remain disciplined capital allocation, timely execution, customer development and improving the long-term competitiveness of each business. We believe these initiatives will strengthen our growth potential, create multiple avenues for value creation and deliver sustainable returns for our shareholders over the long term. 4
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Ms. Neha Rajvanshi President & CFO Q2 and H1 FY27 performance reflects the evolving business mix and varying stages of development across our verticals, while our underlying fundamentals remain stable. Our Green Power Business, with its differentiated model, profitable operations, debt- free position and stable cash flows, provides a sound financial foundation for the Group. REPLUS is strengthening its presence in Battery Energy Storage Systems (BESS) and EV solutions, enabling the Group to participate in the evolving energy transition. We are particularly excited about the upcoming anode expansion, graphene and crucible projects, which will further strengthen our product portfolio and reinforce our position in the advanced materials industry. Our focus remains on building HEG Advanced Materials into a globally competitive company, diversifying revenues and creating sustainable value. 5
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com LNJ BHILWARA GROUP LEGACY 65+ Years of Building Businesses. Now Powering the Clean Energy Transition. 6 Our clean energy platform is backed by LNJ Bhilwara Group’s 65+ year legacy of scaling large capex projects into profitable ventures One philosophy, every business: the highest quality at the lowest cost. We have established flagship companies across multiple industries over the last 65+ years Bhilwara Energy ltd., Malana Power Co. Ltd., AD Hydro Power Ltd. Power (Hydro) HEG Advanced Materials Limited Advanced Materials PlatformREPlus Engitech Pvt. Ltd LNJ Energy Transition Green Energy & LiB Battery Packs HEG LTD Graphite Electrodes RSWM FibreGreen LNJ GreenPET Plastic recycling The Advanced Carbon Company (TACC) Ltd. LiB Anode material 1995 20252021 1972 2014 2022 1961 RSWM Ltd., Maral Overseas, BSL Ltd.. Textile
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Investor Presentation | Q2 & H1 FY27 TACC | REPLUS | GREEN POWER BUSINESSES NSE: HEGAM | BSE: 509631 ABOUT US1.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com ABOUT US Building Globally Competitive Advanced Materials Capabilities 8 Distinct Business. One Enterprise. TACC Advanced carbon materials spanning anode active materials, graphene and emerging applications. Battery and energy-storage solutions spanning mobility, commercial, industrial and grid applications. REPLUS GREEN POWER BUSINESSES Renewable power capabilities built on decades of industrial experience and execution. MISSION We build advanced material capabilities for critical applications, drawing on our deep expertise in advanced carbon, from graphite to graphene, and manufacturing to deliver at scale.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com GEOGRAPHICAL FOOTPRINT Built in India, Serving Global Markets 9 All maps are indicative and intended for illustrative purposes only.
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Investor Presentation | Q2 & H1 FY27 TACC | REPLUS | GREEN POWER BUSINESSES NSE: HEGAM | BSE: 509631 ADVANCED MATERIALS2.
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Anode Materials (20,000 MT) Investor Presentation | Q2 & H1 FY27 NSE: HEGAM | BSE: 509631
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Anode Materials Global demand, growth drivers, and market outlook 12 Global Battery Demand 2025 2026 2035 2.3 3.0 8.0 Growing across EVs and energy storage • Global lithium-ion battery production is expected to grow from ~2.3 TWh in 2025 to ~3 TWh in 2026 to ~8 TWh in 2035. • Total battery graphite anode demand is expected to increase from approximately 2.9 Mn MT in 2025 to 8.0 Mn MT by 2035. 1 Global Lithium-Ion Battery Production (TWh) Energy Storage (BESS) 2024 2026 2030 330 520 1,700 Fastest-growing segment • Fastest-growing battery segment, driven by data centre demand, grid stability and energy security. • BESS to account for ~ 28% of the total lithium-ion battery market by 2030. • TACC has established product grades well-suited for BESS requirements. 2 Global BESS Battery Demand (GWh) Electric Vehicle Market 2024 2026 2030 0.9 1.6 4.0 Largest source of demand • EVs represent the largest source of battery demand, with ~ 65% market share (2025). • Along with rising demand for fast charging– 3C to 4C and above. • Synthetic graphite preferred for fast-charging due to superior technical capabilities and cost competitiveness. 3 Global EV Battery Demand (TWh) India – Significant Domestic Opportunity Policy support and localisation • PLI scheme and proactive government policies to support long- term localisation of supply chains. • Significant opportunity for domestic manufacturing of anode materials in India. • The growing EV and energy storage ecosystem is expected to drive sustained demand. 4 Domestic cell capacity - 250 GWh by 2035 Graphite anode demand - 1,00,000 MT by 2030 Driving demand segment - ESS / LFP Sources: International Energy Agency (IEA) – Global EV Outlook 2025 & 2026; McKinsey – Battery 2035: Building New Advantages (January 2026); BloombergNEF – Global Energy Storage Outlook; Business Standard– Management commentary on India's anode market opportunity. Note: Market estimates and projections are based on respective industry forecasts and management commentary.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Anode Materials – Right to Win TACC's Strengths & Competitive Advantages 13 1 • Existing synergies with group business (HEG); manufacturing and operations know-how. 50+ yrs exp. in graphitization 2 • Leverage the longstanding relationships with existing suppliers. Strong RM sourcing 4 • At an advanced stage of approvals from the global OEMs and cell makers. • Demo plant supplying for global customer validation. Product readiness 3 • The cell makers prefer the anode material made through a synthetic route due to better homogeneity, manufactured through our advanced process. Well Established Manufacturing Process 5 • Strong focus on R&D and innovation. • Ready with future material development including Graphene, Silicon based anode. Future Ready and Innovation
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Anode Materials – Innovation Hub 200 MT Operational Demo Plant for the past 12 Months 14 Operational Demo Facility A 200 MT anode demo plant is operational at Mandideep, Madhya Pradesh, using the same process flow and technology as the planned commercial plant. Customer Qualification Progress Advanced stage of sample approvals and material qualification, supporting the upcoming 20 KMT anode facility Commercial Readiness 20 KMT plant under construction with COD of June 2027 TACC specializes in producing commercial anode materials for Li & Na ion batteries.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Anode Materials - Construction Underway For Phase I – 20K MT Commercial-scale facility progressing towards commissioning 15 Steel & RCC shop structures Shop building with cladding Furnace Foundation Imported Equipment delivery Overall Progress 61% Process Building 72.25% COD Jun 2027 Milestones Reached Next Three Months CONSTRUCTION UNDERWAY FOR PHASE I – 20K MT • We have started to receive critical process equipment at site; further deliveries underway. • 220 kV line: Transmission tower erection underway. • Parallel execution with equipment installation and integration.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Anode Material – Customer Progress MOUs/Agreements for over 1,00,000 MT under discussion 16 2 0 2 7 2 0 2 8 2 0 2 9 2 0 3 0 10K – 12K 35K – 40K 40K – 50K 50K – 60K ANODE VOLUME UNDER DISCUSSION (MT) ADVANCE TALKS • Strong progress towards progressive commitments of over 100,000 MT • Customer base includes global cell makers and automotive OEMs • Commercial validation to begin in early 2027 1 Global demand for non-China Anode Over 1 TWh of planned non- China cell capacity by 2030 Non-China anode demand will exceed 1 Mn tons by 2030 as cell makers diversify their supply chains. Strong pull from North America, Europe and Asia- Pacific, supported by policy and sourcing requirements 2 Global Customer Progress Planned Capacities by 2030: N. America (>500 GWh), EU (>300 GWh), Korea & Japan (>200 GWh) Positive validations and concrete supply discussions in progress Multiple customer visits hosted, with positive quality checks 3 Indian Customer Progress About >100 GWh of domestic capacity planned by 2035 Large scale pilot validations in progress Supporting domestic cell PLI with >70% DVA
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Anode Material – R&D Focus Deep materials science at the core of innovation 17 Innovation Focus Areas Silicon-Doped Synthetic Graphite Anode Graphene-Enhanced Anodes Graphene Application Ecosystem Entry into Hard Carbon Cell Platform RESEARCH TO REVENUE Advanced Research → Product Development → Commercialization 37 PhDs + Masters 5+ Patents Filed advanced materials 2 cumulative R&D expertise 20+ R&D Projects 8 projects TRL4+ on advanced carbon and graphite Talent & Capability ⮚ 37 PhDs and Masters spanning materials science, silicon anodes, graphene and application engineering. ⮚ Specialist depth: dedicated PhD in silicon plus characterization and application experts. ⮚ 5+ patents filed; ~2 decades of cumulative advanced-materials experience. ⮚ Lab-to-industrial scale-up across pilot and plant facilities with a focus on “Research toRevenue” Decades
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com 18 Multiple Growth Engines One Advanced Materials Platform
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Anode Materials Expansion from 20K MT to 44K MT Investor Presentation | Q2 & H1 FY27 NSE: HEGAM | BSE: 509631
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Scaling the Anode Platform from 20K to 44K MT +24K additional capacity to power the next phase of growth 20 200 MT Initial Demonstration Proven Process, product Quality and Operating Capability 20K MT Phase I | COD: Jun’ FY28 Commercial Scale Production Underway 44K MT Phase II | COD: Mar’29 Additional 24K MT Anode plant expansion to lead next leap of growth Anode - A key battery material that stores and releases ions during charging & discharging with cell applications across EVs and energy storage systems. 01 Same Land Footprint: Expansion on the Dewas existing site. 02 Same power. The existing 220 kV connection serves both phases. 03 Common Asset Utilization: Leverages shared utilities, facilities, and team spend from Phase 1.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com 21 Technology-Led Anode Development & Driving Strategic Backward Integration Si-doped anode for High-Capacity Anode • Silicon-doped anodes enables higher energy density (>20%) and improved performance, supporting higher capacity and charging rate for premium high end applications. • Successful results validate the technology and create future optionality to transition into next-generation anode products as the market evolves. Graphene based Anode • Multiple high-speed, graphene-based anode products are under development to enable fast-charging and high-power applications, supported by strong in-house material and cell engineering expertise. • These products target premium EV and Electronics segments where charging speed and power performance drive differentiation and value. High-end grade anodes:
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com 22 Technology-Led Anode Development & Driving Strategic Backward Integration Image: graphitisation crucible 01 What it is A graphite vessel that holds anode powder while it is graphitised at about 3,000°C. Each is reused for about 4-5 firings. 02 Why it matters No crucible, no graphitisation. It is our second-largest raw material after green coke. 03 Mostly imported Today most of our crucibles are imported, so supply, price and lead times sit outside our control. At 44K MT, we are replacing approx. USD 17 Million/yr worth of crucible imports by making it in -house.
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Graphene Material “Wonder Material” Investor Presentation | Q2 & H1 FY27 NSE: HEGAM | BSE: 509631
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Graphene “Wonder Material” Advancing Carbon Innovation for a Green Future 24 Graphene, often called the “Wonder Material,” is a single layer of carbon atoms arranged in a honeycomb lattice, the thinnest material known, at just one atom thick, yet fully stable and flexible. A true "platform" material - a few grams transform the performance of concrete, paints, batteries, textiles, and more, making it a one-stop enhancer across industries.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Graphene “Wonder Material” – Right to Win Strengths & Competitive Advantages 25 1 • We have our own process for manufacturing Graphene with continuous, consistent results Independent Patented Process 2 • Manufacturing graphene with indigenous manufacturing. • Graphite customized for Graphene Manufacturing Strong RM Source 3 • We are working on different stages of commercial scale validations with key customers for various applications Product readiness 4 • Strong focus on R&D and innovation. • Ready with future material development. Future Ready and Innovation
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Graphene “Wonder Material” – Target Applications Advanced Reinforcement Capabilities 26 Product Category Remarks RMC & Cement • Proven 30% reduction in cement in RMC mix with the use of our in-house graphene. • Sample for High-Performance Concrete under validation at NCCBM (MOU signed). Road Infra • Product under advanced stage of validation at CSIR – CRRI Textiles • Commercial scale trial completed with established results as multi-functional advanced textile. Paints and Coatings • Sample being tested in real-world conditions at advanced stages with global paint manufacturers. Graphene Based Anode • Multiple products under development for Fast Charging applications with in-house expertise. Lubricants • Sample under testing and validation with a global lubricant manufacturer - to reduce friction coefficient and enhance fuel efficiency Data Centers • Advancing next-generation thermal interface materials to improve thermal management in data centres.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Graphene “Wonder Material” – Growth Strategy Initiative 500 MT in 2028 27
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Graphene “Wonder Material” – Customer Progress A large market, 90 MT committed 28 India demand where we already have traction Application Pilot (MT) Full (MT) Where we are Concrete and roads 1,800–1,900 9,000–10,000 30% cement cut proven in RMC; NCCBM and CSIR-CRRI validations Paints and coatings 250–270 1,000–1,200 Real-condition tests with global paint makers Textiles 220–250 1,000–1,200 Commercial-scale trial completed Total 2,270–2,420 11,000–12,400 Our 500 MT is under 1/5th of pilot demand Pilot = 1% and full = 5% penetration. About 60% of our material is aimed at construction and infrastructure. CURRENT STATUS 90 MT Confirmed orders and LOIs, GO equivalent Application MT Paints and coatings 21 Concrete and construction 15 International graphene company 54
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Investor Presentation | Q2 & H1 FY27 TACC | REPLUS | GREEN POWER BUSINESSES NSE: HEGAM | BSE: 509631 REPLUS ENGITECH 3.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com ABOUT REPLUS ENGITECH Powering A Cleaner, Brighter Tomorrow 30 REPLUS Engitech Private Limited, a subsidiary of HEG Advanced Materials, is a technology-driven manufacturer of lithium-ion battery packs and energy storage solutions for electric mobility, stationary storage and specialised applications. Its capabilities span Battery Management Systems (BMS), Energy Management Systems (EMS) and Battery Energy Storage Systems (BESS), supported by in-house engineering, testing, manufacturing and system integration.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com REPLUS ENGITECH – Right to Win Advancing the Future of Energy Storage 31 1 • Operations 1GWh facility with Technical and Process expertise • Scalability – ready for future expansion and ramp-up Manufacturing Excellence 2 • Design & Value Engineering • Embedded Hardware & Software Development Inhouse Capabilities 4 • Proven projects commissioned • Pan India network ensuring quick response and reliable support Project Execution & Service Network 3 • Solutions for Monitoring, optimization and sustainability • BMS tailored energy efficiency smart operations BMS & EMS Development 5 • Responsible recycling and end of life solutions for sustainability End of Life Management
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com REPLUS ENGITECH – Integrated Battery Value Chain Powering A Cleaner, Brighter Tomorrow 32 REPLUS – Downstream Battery Products & Integrated Energy Storage Solutions Battery Cell › Battery Module › Battery Pack BMS & EMS › Energy Storage Solution (BESS, Industrial & Grid Applications) VALIDATED CAPABILITY ICAT-certified EV battery packs BMS & EMS Monitoring, control & energy optimisation Embedded Hardware & Software In-house control, communication and analytics Thermal Management Integrated for safety and performance System Integration End-to-End engineering and application design › TSEC approved battery packs Academia Collaboration COEP, MIT, IITGN
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com REPLUS ENGITECH – Product & Manufacturing Capabilities Powering the Transition Towards Reliable Energy Storage 33 BESS Cabinet & BESS Container Solutions 261KWh, 5MWh Product Portfolio Battery Gigafactory Battery Packs for LCV, E-Bus and E-trucks 5KWh, 10KWh, 16KWh, 32KWh, 35KWh Battery Modules, Packs, and Rack Systems 1.2KWh, 2.4KWh, 4.8KWh, 5.1KWh, 100KWh
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com REPLUS ENGITECH – Segmental Volume Demand Capitalising on the Evolving Energy Landscape 34
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com REPLUS ENGITECH – Growth Strategy Initiative Expanding Battery Manufacturing and Integration Capabilities 35
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Investor Presentation | Q2 & H1 FY27 TACC | REPLUS | GREEN POWER BUSINESSES NSE: HEGAM | BSE: 509631 GREEN POWER BUSINESSES4.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com About Green Power Businesses Renewable energy for a sustainable tomorrow 37 Malana Power Company Limited (MPCL) 86 MW Himachal Pradesh Hydroelectric Project Operational Since 2001 AD Hydro Power Limited (ADHPL) 192 MW Himachal Pradesh Hydroelectric Project Operational Since 2010 HEGAM Wind Project 14 MW Maharashtra Wind Power Project Operational Since 2014 BESS IPP 200 MWh Gujarat Under Development Target Commissioning Q3 FY27 Our Green Power Businesses are based on long-standing hydroelectric assets, providing renewable energy and stable cash flows, while supporting the Group’s focus on a low-carbon future.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com About Green Power Businesses Renewable energy for a sustainable tomorrow 38 Debt-Free Assets Both Operating Hydro Projects and Wind Project are debt-free ~300+ Cr Annually Stable Cash flows from existing Hydro Assets 278 MW Combined Hydroelectric Installed Capacity Renewable electricity generation Supports low-carbon growth strategy Renewable Credentials Eligible for renewable energy certificates
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com • Installed Capacity 14 MW (7 x 2 MW) • Operational Since 2014 • Location Maharashtra • Total Generation (In Mn Units) 25 • Project name Bhendewade Wind Project • PPA Details 13 years with MSEDCL Green Power Businesses - Power Generation Assets Renewable energy for a cleaner, low-carbon future 39 WIND POWER ASSET | Operational Asset BESS IPP | Under Development • Capacity 200 MWh • Target Commissioning Q3 FY27 • Location Gujarat • Tariff Structure Capacity based • Client Gujarat Urja Vikas Nigam Limited • License Period 12 years from COD • Actual Project Progress 64%
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Investor Presentation | Q2 & H1 FY27 TACC | REPLUS | GREEN POWER BUSINESSES NSE: HEGAM | BSE: 509631 FINANCIAL PERFORMANCE5.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Quarterly Performance - Standalone Financial Performance 41 ₹ in Cr₹ in Cr Q2 FY26 Q1 FY27 Q2 FY27 697 681 527 7 3 8 Revenue Demerged Continued Q2 FY26 Q1 FY27 Q2 FY27 792 718 558 111 37 50 Total Income Demerged Continued Q2 FY26 Q1 FY27 Q2 FY27 121 96 97 68 16 37 PAT Demerged Continued Note: Current financial figures are not comparable to previous financial figures owing to demerger of HEG Limited
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Half-Yearly Performance - Standalone Financial Performance 42 ₹ in Cr H1 FY26 H1 FY27 1,310 1,208 11 11 Revenue Demerged Continued H1 FY26 H1 FY27 1,440 1,276 136 87 Total Income Demerged Continued H1 FY26 H1 FY27 183 192 79 53 PAT Demerged Continued Note: Current financial figures are not comparable to previous financial figures owing to demerger of HEG Limited
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Quarterly Performance - Consolidated Financial Performance 43 ₹ in Cr Q2 FY26 Q1 FY27 Q2 FY27 697 681 527 176 296 430 Revenue Demerged Continued Q2 FY26 Q1 FY27 Q2 FY27 792 718 558 226 324 547 Total Income Demerged Continued Q2 FY26 Q1 FY27 Q2 FY27 124 95 97 69 60 209 PAT Demerged Continued Note: The Group, majorly being in a hydro/wind power industry apart from consultancy & BESS, is highly dependent upon the wea ther/Wind/hydraulic conditions and thus seasonal in nature resulting majority of operations takes place from starting of summer season and upto the end of rainy season, usually within a period of half a year or less (i.e. April to Sep tember). Due to this reason, the Group’s financial performance are not directly comparable.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Half-Yearly Performance - Consolidated Financial Performance 44 ₹ in Cr H1 FY26 H1 FY27 1,310 1,207 329 726 Revenue Demerged Continued H1 FY26 H1 FY27 183 192 168 269 PAT Demerged Continued Note: The Group, majorly being in a hydro/wind power industry apart from consultancy & BESS, is highly dependent upon the wea ther/Wind/hydraulic conditions and thus seasonal in nature resulting majority of operations takes place from starting of summer season and upto the end of rainy season, usually within a period of half a year or less (i.e. April to Sep tember). Due to this reason, the Group’s financial performance are not directly comparable. H1 FY26 H1 FY27 1,440 1,276 424 871 Total Income Demerged Continued
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Investor Presentation | Q2 & H1 FY27 TACC | REPLUS | GREEN POWER BUSINESSES NSE: HEGAM | BSE: 509631 CORPORATE LEADERSHIP6.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Key Managerial Personnel Leadership & Governance 46
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Corporate Team People Driving A Stronger Tomorrow 47 Mr. O. P. Ajmera Director & Group CFO Mr. Hiren Pravin Shah MD, CEO - REPLUS Mr. Puneet Anand Group Chief Strategy Officer Mr. Ankur Khaitan MD, CEO - TACC Mr. Karunesh Kumar Chaturvedi President – Corporate Affairs Mr. Ranjan Sarkar President & Group CHRO Ms. Jyoti Gupta Head - Administration Ms. Indu Mehta President – Brand Communications & CSO
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Awards & Recognition Excellence in R&D Governance and Leadership - TACC 48 CII AWARD FOR EXCELLENCE IN R&D 2026 Award Category: Materials, Chemicals & Textiles – Large Enterprise | Award Date: October 2026 The recognition acknowledges TACC’s focus on strengthening R&D capabilities and advancing innovation in advanced carbon and graphite materials.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Awards & Recognition From national awards to policy spotlight – REPLUS ENGITECH 49 Industry Excellence Awards Most Trusted Business Partner Recognised for People & Culture
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Investor Presentation | Q2 & H1 FY27 TACC | REPLUS | GREEN POWER BUSINESSES NSE: HEGAM | BSE: 509631 ESG PRACTICES7.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com ESG Practices Sustainable by design. Impact that lasts. 51
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com ESG Practices Sustainable by design. Impact that lasts. 52
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Investor Presentation | Q2 & H1 FY27 TACC | REPLUS | GREEN POWER BUSINESSES NSE: HEGAM | BSE: 509631 ANNEXURE8.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com HEG Composite Scheme Two focused companies. Independent Strategies. Distinct growth paths. 54
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Income Statement - Standalone Financial Performance 55 ₹ in Cr Parameters Quarterly Half - Yearly Yearly Q2 FY27 Q1 FY27 Q2 FY26 H1 FY27 H1 FY26 FY26 Revenue from Continuing Operations 7.6 3.1 6.9 10.7 11.1 14.6 Add: Other Income 42.4 34.1 104.4 76.6 124.7 164.3 Total Income 50.0 37.2 111.3 87.3 135.8 178.9 Less: Operating Expenses 9.0 8.8 21.8 17.8 30.4 68.8 Continuing Operations EBITDA 41.0 28.4 89.6 69.5 105.4 110.1 Less: Finance costs 1.1 1.2 (0.1) 2.3 0.0 2.3 Continuing Operations PBDT 39.9 27.2 89.7 67.2 105.3 107.8 Less: Depreciation costs 1.4 1.5 1.1 3.0 2.2 4.8 PBT from Continuing Operations 38.5 25.7 88.6 64.2 103.1 103.0 Less: Tax cost 2.0 9.6 21.1 11.6 24.2 6.4 PAT from Continuing Operations 36.5 16.1 67.5 52.6 78.9 96.6 Note: Current financial figures are not comparable to previous financial figures owing to demerger of HEG Limited
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Income Statement - Standalone Financial Performance 56 ₹ in Cr Parameters Quarterly Half - Yearly Yearly Q2 FY27 Q1 FY27 Q2 FY26 H1 FY27 H1 FY26 FY26 Revenue from Demerged Operations 526.6 680.9 696.8 1,207.5 1,309.6 2,568.5 Add: Other Income 31.6 36.8 95.2 68.4 130.0 56.6 Total Income 558.2 717.7 792.1 1,275.9 1,439.6 2,625.1 Less: Total Expenses 424.2 590.0 640.8 1,014.2 1,208.8 2,424.2 PBT from Demerged Operations 134.0 127.7 151.2 261.7 230.8 200.9 Less: Tax costs 37.2 32.0 30.6 69.2 48.2 66.1 PAT from Demerged Operations 96.8 95.7 120.6 192.5 182.6 134.8 Note: Current financial figures are not comparable to previous financial figures owing to demerger of HEG Limited
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Income Statement - Standalone Financial Performance 57 ₹ in Cr Parameters (Continuing & Demerged Operations) Quarterly Half - Yearly Yearly Q2 FY27 Q1 FY27 Q2 FY26 H1 FY27 H1 FY26 FY26 Net Revenue 534.2 684.0 703.7 1,218.2 1,320.7 2,583.1 Add: Net Other Income 74.0 71.0 199.7 145.0 254.7 220.9 Total Income 608.2 755.0 903.4 1,363.2 1,575.4 2,804.0 Less: Net Total Expenses 435.7 601.6 663.6 1,037.3 1,241.5 2,500.0 Net PBT 172.5 153.4 239.8 325.9 333.9 303.9 Less: Net Tax costs 39.2 41.6 51.7 80.9 72.4 72.5 Net PAT 133.3 111.8 188.1 245.0 261.5 231.4 Note: Current financial figures are not comparable to previous financial figures owing to demerger of HEG Limited
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Balance Sheet Statement - Standalone Financial Performance 58 Note: The current-period financial results are not directly comparable with the previous year's reported figures due to the demerger of the business of HEG Limited. Accordingly, the FY26 comparative financial information has been restated to ensure like-for-like comparability and for future reference without HEG Graphite financials Assets H1 FY27 FY26* Equity & Liabilities H1 FY27 FY26* Non – Current Assets 1,672.7 1,613.7 Equity 2,106.5 1,696.3 - Net Fixed Assets 54.1 60.2 - Equity Share Capital 66.0 38.6 - Financial Assets 1,618.6 1,553.5 - Other Equity 2,040.5 1,657.7 - Other Non – Current Assets - - Non – Current Liabilities 21.9 68.9 - Borrowing - 50.0 Current Assets 473.7 168.4 - Other Non – Current Liabilities 21.9 18.9 - Inventories - - Current Liabilities 18.0 17.0 - Trade Receivables 7.7 3.3 - Borrowings - - - Cash & Bank 283.0 46.4 - Trade Payables 0.5 0.6 - Other Current Assets 183.0 118.7 - Other Current Liabilities 17.5 16.4 Total Assets 2,146.4 1,782.1 Total Equity & Liabilities 2,146.4 1,782.1 ₹ in Cr
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Income Statement - Consolidated Financial Performance 59 Parameters Quarterly Half - Yearly Yearly Q2 FY27 Q1 FY27 Q2 FY26 H1 FY27 H1 FY26 FY26 Revenue from Continuing Operations 429.9 295.9 175.9 725.8 329.4 909.7 Add: Other Income 116.7 28.3 50.4 145.0 94.1 205.6 Total Income 546.6 324.2 226.3 870.8 423.5 1,115.2 Less: Operating Expenses 233.8 199.0 97.4 432.8 153.5 13.2 Continuing Operations EBITDA 312.8 125.2 128.9 438.0 270.0 611.3 Less: Finance costs 19.7 19.1 1.2 38.8 2.9 35.8 Continuing Operations PBDT 293.1 106.1 127.7 399.2 267.2 575.4 Less: Depreciation costs 14.5 14.0 13.1 28.6 25.9 52.5 Add: Associates Profits - - 0.0 - (0.1) (0.1) PBT from Continuing Operations 278.5 92.1 114.5 370.6 241.3 522.9 Less: Tax cost 69.6 31.9 45.3 101.5 73.8 139.1 PAT from Continuing Operations 208.9 60.2 69.2 269.1 167.5 383.8 Note: The Group, majorly being in a hydro/wind power industry apart from consultancy & BESS, is highly dependent upon the weather/Wind/hydraulic conditions and thus seasonal in nature resulting majority of operations takes place from starting of summer season and upto the end of rainy season, usually within a period of half a year or less (i.e. April to September). Due to this reason, the Group’s financial performance are not directly comparable. ₹ in Cr
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Income Statement - Consolidated Financial Performance 60 Parameters Quarterly Half - Yearly Yearly Q2 FY27 Q1 FY27 Q2 FY26 H1 FY27 H1 FY26 FY26 Revenue from Demerged Operations 526.5 680.9 696.8 1,207.4 1,309.6 2,568.5 Add: Other Income 31.6 36.8 95.2 68.4 130.0 56.6 Total Income 558.1 717.7 792.1 1,275.8 1,439.6 2,625.1 Less: Total Expenses 423.7 590.5 637.4 1,014.2 1,208.8 2,424.2 PBT from Demerged Operations 134.4 127.2 154.7 261.6 230.8 200.9 Less: Tax costs 37.2 32.0 30.6 69.3 48.2 66.1 Less: Associates Profits/Loss - - - - - 3.4 PAT from Demerged Operations 97.2 95.2 124.1 192.3 182.6 138.2 Note: The Group, majorly being in a hydro/wind power industry apart from consultancy & BESS, is highly dependent upon the weather/Wind/hydraulic conditions and thus seasonal in nature resulting majority of operations takes place from starting of summer season and upto the end of rainy season, usually within a period of half a year or less (i.e. April to September). Due to this reason, the Group’s financial performance are not directly comparable. ₹ in Cr
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Income Statement - Consolidated Financial Performance 61 ₹ in Cr Parameters (Continuing & Demerged Operations) Quarterly Half - Yearly Yearly Q2 FY27 Q1 FY27 Q2 FY26 H1 FY27 H1 FY26 FY26 Net Revenue 956.4 976.8 872.8 1,933.2 1,639.0 3,478.2 Add: Net Other Income 148.3 65.1 145.6 213.4 224.1 262.2 Total Income 1,104.7 1,041.9 1,018.4 2,146.6 1,863.1 3,740.3 Less: Net Total Expenses 691.8 822.6 749.1 1,514.3 1,390.9 3,016.5 Add: Associates Profits - - 0.0 - (0.1) (0.1) Net PBT 412.9 219.3 269.2 632.2 472.1 723.8 Less: Net Tax costs 106.8 64.0 75.9 170.8 122.0 205.3 Less: Associates Profits/Loss - - - - - 3.4 Net PAT 306.1 155.3 193.3 461.4 350.1 521.9 Note: The Group, majorly being in a hydro/wind power industry apart from consultancy & BESS, is highly dependent upon the weather/Wind/hydraulic conditions and thus seasonal in nature resulting majority of operations takes place from starting of summer season and upto the end of rainy season, usually within a period of half a year or less (i.e. April to September). Due to this reason, the Group’s financial performance are not directly comparable.
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www.hegadvancedmaterials.com NSE: HEGAM | BSE: 509631 | www.hegadvancedmaterials.com Balance Sheet Statement - Consolidated Financial Performance 62 Note: The Group, majorly being in a hydro/wind power industry apart from consultancy & BESS, is highly dependent upon the wea ther/Wind/hydraulic conditions and thus seasonal in nature resulting majority of operations takes place from starting of summer season and upto the end of rainy season, usually within a period of half a year or less (i.e. April to September). Due tothis reason, the Group’s financial performance are not directly comparable. * The comparative financial information for FY26 has been restated to exclude the financial results of the demerged graphite undertaking, thereby ensuring a consistent, like-for-like basis for future comparability Assets H1 FY27 FY26* Equity & Liabilities H1 FY27 FY26* Non – Current Assets 2,316.1 1,847.5 Equity 2,509.8 1,882.4 - Net Fixed Assets 1,974.4 1,581.3 - Equity Share Capital 66.0 38.6 - Financial Assets 304.6 186.1 - Other Equity 2,443.8 1,843.8 - Other Non – Current Assets 37.1 80.1 Non – Current Liabilities 1,281.6 1,015.5 - Borrowing 1,035.9 767.8 Current Assets 2,119.9 1,451.2 - Other Non – Current Liabilities 245.7 247.8 - Inventories 100.5 57.1 Current Liabilities 644.6 400.8 - Trade Receivables 192.5 204.8 - Borrowings 95.1 99.4 - Cash & Bank 1,322.8 924.8 - Trade Payables 344.1 164.6 - Other Current Assets 504.1 264.5 - Other Current Liabilities 205.4 136.9 Total Assets 4,436.0 3,298.7 Total Equity & Liabilities 4,436.0 3,298.7 ₹ in Cr
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THANK YOU REGISTERED OFFICE Mandideep District Raisen, Madhya Pradesh – 462046, India. CIN: L35100MP1972PLC008290 W: www.hegadvancedmaterials.com C o n n e c t W i t h U s Ms. Neha Rajvanshi President & CFO E: investors@hegadvancedmaterials.com CORPORATE OFFICE Bhilwara Towers, A-12, Sector – 1, Noida, Uttar Pradesh – 201 301, India. Mr. Ravi Gupta AVP - Finance, Legal & Company Secretary E: heg.investor@lnjbhilwara.com F O L L O W U S O N