Middle East disruption impact on sales and freight
The Middle East crisis has forced postponement of ~20% of sales (MENA region) and increased freight costs, impacting Q4 margins and near-term volume.
HEG / Q4-FY26 / risks
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HEG · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
US anti-dumping investigation
The US is considering countervailing/anti-dumping duties on Indian graphite electrode imports, with an outcome expected by September. HEG has engaged legal counsel but outcome is uncertain.
Needle coke price inflation
Rising crude oil prices may increase needle coke costs from H2 FY27, as current contracts cover only until September. Management has not yet negotiated next quarter's prices.
Unrealized investment losses on Graphtech stake
The company reported a ₹189 crore net loss due to unrealized losses on its Graphtech investment and forex. Further rupee depreciation could lead to additional mark-to-market losses.