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HEG
PE (Price/Earnings) Ratio

The Current P/E Ratio of HEG is 40.26.

Share Price ₹632.6Apr 17,2026
Market Cap ₹12,208.2 Cr
Earnings-TTM₹303.3 CrTTM-Consolidated Results
Price/Earnings40.26xCalculated 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 [ ₹12,208.2 Cr] as on Apr 17,2026

(/) Earnings [ ₹303.3 Cr] based on TTM-Consolidated Results

(=) P/E Ratio [ 40.26x ]

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 40.26 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 40.26x.

- HEG 's p/e ratio for fiscal years ending Mar2025 to Mar2021 averaged 20.93x.

- HEG 's operated at median p/e ratio of 6.67x 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 81.13x.

- HEG 's p/e ratio hit its five-year low in Mar2021 of 0x.


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 303.2740.2612,208.2
GRAPHITE INDIA LTD325.0040.8313,269.9
ESAB INDIA LTD210.5741.838,809.2
ADOR WELDING LTD71.2524.581,751.4
DIFFUSION ENGINEERS LTD44.9125.971,166.2
DE NORA INDIA LTD13.0333.61438.0
GEE LTD-5.63-62.82353.7
PANASONIC CARBON INDIA COMPANY LTD21.5610.68230.2
D&H INDIA LTD7.3636.66270.0

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

Top 10 Industry PeersPE Ratio
Min industry PE -62.82x
Max industry PE 41.83x
Median industry PE 33.61x
Average industry PE 21.29x



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