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HEG
PE (Price/Earnings) Ratio

The Current P/E Ratio of HEG is 43.13.

Share Price ₹293.2Nov 08,2026
Market Cap ₹9,668.1 Cr
Earnings-TTM₹224.2 CrTTM-Consolidated Results
Price/Earnings43.13xCalculated as Market Cap/Earnings
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Definition & Calculation of PE (Price/Earnings) ratio of HEG

Price-to-Earnings ratio, P/E Multiple, or P/E Ratio is an important valuation multiple that is defined as:

P/E = Market Capitalization / Net Income

or, using per-share numbers:

P/E = Stock Price / Earnings Per Share (EPS)

Applying the above formula, P/E ratio of HEG is calculated as :

Current Market Cap [ ₹9,668.1 Cr] as on Nov 08,2026

(/) Earnings [ ₹224.2 Cr] based on TTM-Consolidated Results

(=) P/E Ratio [ 43.13x ]

P/E Ratio indicates the multiple of earnings investors are willing to pay to own one share of the company.

Thus, for HEG , the investors are currently willing to pay 43.13 times earnings to own 1 share of the company.

PE Multiples are the most widely used valuation multiple in practice.

Since P/E ratio uses Net Income in the calculation, P/E multiples are not always reliable for valuing companies with negative earnings.

In such cases, you may consider using Price to Book ratio or Price to Sales ratio of HEG !

P/E ratios, also, would not adjust for differences in the capital structure between companies.

The chart below summarizes the trend in P/E Ratio of HEG over the last five years.

Historical PE (Price/Earnings) ratio chart of HEG


PE Ratio Performance Analysis for HEG

- HEG 's latest p/e ratio is 43.13x.

- HEG 's p/e ratio for fiscal years ending Mar2026 to Mar2022 averaged 27.12x.

- HEG 's operated at median p/e ratio of 12.3x from fiscal years ending March 2018 to 2022.

- Looking back at the last 5 fiscal years, HEG 's p/e ratio peaked in Mar2025 at 81.38x.

- HEG 's p/e ratio hit its five-year low in Mar2024 of 4.57x.


How does HEG 's P/E Ratio benchmark against top 10 peers in Electrodes & Welding Equipment Industry?

Peer Comparison (Electrodes & Welding Equipment Industry)Earnings-TTM (Cr)PE RatioMarket Cap
HEG 224.1743.139,668.1
GRAPHITE INDIA LTD227.0063.0814,320.0
ESAB INDIA LTD191.6340.657,790.3
ADOR WELDING LTD115.4621.982,537.3
DIFFUSION ENGINEERS LTD51.7430.551,580.7
GEE LTD18.8732.71617.2
DE NORA INDIA LTD5.7264.22367.6
D&H INDIA LTD8.3124.06199.9
PANASONIC CARBON INDIA COMPANY LTD16.7210.79180.4

Electrodes & Welding Equipment Industry Benchmark (Top 10) PE Analysis vs HEG 's P/E Ratio

Top 10 Industry PeersPE Ratio
Min industry PE 10.79x
Max industry PE 64.22x
Median industry PE 32.71x
Average industry PE 36.80x



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