The contract is valued at Rs 217.56 crore, including GST, and is scheduled to be completed by 31 March 2027 or such extended date as may be mutually agreed between the parties.

The company clarified that the transaction does not fall under related party transactions.

HEG is India's leading graphite electrode manufacturer. It has one of the largest integrated graphite electrode plants in the world, processing sophisticated UHP (ultra high power) electrodes.

The company’s consolidated net profit climbed 16.71% to Rs 122.34 crore on 11.1% increase in revenue from operations to Rs 680.79 crore in Q1 FY27 over Q1 FY26.

The counter hit 5% upper circuit to settle at Rs 238.55 on the BSE.