YEAR                                                          EVENTS 
 1972 - The Company was incorporated on 27th October, at Delhi.  The
              company belongs to the Bhilwana Group of industries.  It
 was
              promoted jointly by Rajasthan Spinning & Weaving Mills
 Ltd.
              (RSWML) and M/s. Pechinery Ugine Kuhlmann (PUK) of
 France.
              The main object of the company is manufacture of
 graphite
              electrodes and anode and other graphite and carbon
 products.
 
            - The Company entered into a technical-cum-financial
 collaboration
               agreement with La Societi Des Electrodes Et.
 Refracaires Soviet
               (SERS) of France.
 
 1976 - 3,00,000 No. of Equity shares allotted without payment in cash
 to
              collaborators and 3,09,700 No. of equity shares issued
 to
              investria.  1,04,000 pref. and 12,50,000 No. of equity
 shares
              offered at par to the public during February 1976. 
 Pref. shares
              redeemable at par on 30.4.1991.
 
 1978 - 3,70,000 No. of equity shares issued at par to Indian
 promoters
              and foreign collaborators during 1978/79.  Arrears: Rs
 11,250.
 
 1981 - 15,99,540 Bonus equity shares issued in prop. 2:5.
 
 1982 - The Company entered into a joint sector agreement with
 Industrial
               promotion & Investment Corporation of Orissa Ltd., for
               establishing a ceramic apparatus insulator project. 
 For this
               purpose, a new company was incorporated under the name
 of
               Ipigraph Electro-Ceramic Ltd.
 
            - 11,05,120 No. of equity shares allotted to financial
 institutions
              at par on conversion of loans.  4,42,048 bonus equity
 shares due
              on these shares were alotted to financial institutions.
  
 1984 - Company undertook a Rs 7.60 crores modernisation programme to
              enable production of longer length electrodes and ultra
 high
              power electrodes in line with the latest technology.
 
           - The Textile Units was set up and its was financed out of
 internal
              accruals.  The Company also took on lease the spinning
 unit of
              Bhilwara Spinners, Ltd., for a period of five years from
 1st
              November.
 
           - The Company undertook a modernisation of the Bhilwara
 unit.  The
              Company hoped to finalise foreign collaboration
 agreement with a
              knitwear manufacturer to obtain the necessary technical
 know-how.
 
           - The Company received a Letter of Intent to manufacture
 60,000
              tonnes per annum of newsprint in Madhya Pradesh.
 
 1985 - The Company issued 15% secured non-convertible debentures of
 the
              aggregate face value of Rs 7.60 crores on rights basis
 to finance
              part of the project cost of the Jammu spinning unit and
 to meet
              working capital requirements.
 
 1987 - The Company proposed to form a subsidiary namely Bhilwara
 Viking
              Petroleum, Ltd., for oil exploration in
 technical-cum-financial
              participation with a Norweigian Company M/s. Viking
 Offshore
              Drilling A/s.
 
           - The Company received a letter of intent for setting up of
 25,000
              spindles project in Jammu.
 
 1988 - The Company proposed to increase the capacity of graphite
              electrodes from 17,500 tonnes to 21,000 tonnes with the
              installation of modern fuel efficient, cost effective
 baking
              furnaces with impregnation facility and new
 graphitisation
              furnace.
 
 1989 - The Company by an auction through High Court, acquired a
 textile
              unit of 14,300 spindles.
 
           - The lease agreement with M/s. Bhilwara Spinners, Ltd.
 expired on
              31st March, and the Company was taking necessary steps
 to
              amalgamate the operations of the spinning unit with the
 Company.
 
            - With effect from 25th September, Bhilwara Viking
 Petroleum Ltd.,
              a subsidiary of the Company, was merged with the
 Company.
 
 1990 - The Company along with Rajasthan Spinning & Weaving Mills,
 Ltd.,
              promoted a 100% export oriented unit for cotton spinning
 in
              Madhya Pradesh at District Khargone by way of
 investments in the
              equity shares of Maral Overseas Ltd. under which the
 unit was
              being set up.
 
            - The Company offered 1,87,500-12.5% secured fully
 convertible
               debentures of Rs 200 each for cash at par on rights
 basis in the
               ratio of 1 convertible debentures: 40 fully paid-up
 equity shares
               held (all were taken up).  Additional 28,125 debentures
 allotted
               to retain oversubscription.
 
            - Another 9,375 debentures were reserved for allotment to
 the
               employees on an equitable basis (all were taken up).
 
            - The Company issued another 1,87,500-12.5% secured fully
               convertible debentures of Rs 200 each through
 prospectus.  Out of
               these, 1,78,125 debentures were offered to public (all
 taken up).
               Additional 26,940 debentures were allotted to retain
               oversubscription.
 
            - The balance 9,375 debentures along with 1,185
 additional
              debentures (as retention of oversubscription) were
 offered to
              employees.  None were taken up.  All these 10,560
 debentures were
              allotted privately.  Each debentures was converted into
 5 fully
              paid-up equity shares of Rs 10 each at a premium of Rs
 30 per
              share on 7th December, 1991.
 
           - 10,700 shares issued at par to the erstwhile subsidiary
 company
              Bhilwara Viking Petroleum Ltd. pursuant to the
 amalgamation.
 
 1991 - With effect from 30th October, 1991, the name of the company
 was
              changed from Hindustan Electro-Graphites Limited to HEG
 limited. 
 
            - One kiln of 30,000 tonnes per annum was commissioned.
 
            - The Company issued 14% secured non-convertible
 debentures of the
               aggregate value of Rs 500 lakhs to UTI, LIC, GIC and
 subsidiaries
               on private placement basis.  These debentures are
 redeemable at
               5% premium as follows: Rs 400 lakhs in equal
 instalments at the
               end of 6th, 7th and 8th year from 24.7.1991 and Rs 100
 lakhs at
               the end of 7th year from 24.7.1991.
 
            - The company issued 19% secured non-convertible
 debentures of the
               aggregate value of Rs 100 lakhs to Army Group Insurance
 Fund on
               private placement basis.  These debentures are
 redeemable at 5%
               premium in three equal instalments at the end of 6th,
 7th and 8th
               year from 24.7.1991 (date of allotment).
 
             - With effect from 30th October, the name of the Company
 was
               changed from Hindustan Electro-Graphites, Ltd., to `HEG
 Limited'.
 
             - 2,01,925 No. of equity shares allotted (prem. Rs 30 per
 share) in
               full conversion of debs. on 7.12.1991.  240 debs.
 remained to be
               converted as the allotment money on debs. was yet to be
 received.
 
             - During the year under report, Bhiwara Viking Petroleum
 Ltd., a subsidiary
               of the Company, has merged with the Company with
 restrospective effect from
               25th September, 1989, pursuant to the orders of the
 Hon'ble High Court of Delhi.
 
             - As reported last year the Company has signed a
 collaboration agreement
               with sponge Iron India Ltd., a Govt of India 
 Undertaking, for installing 60,000 tons
               capacity sponge iron plant in Durg District (M.P.).
 
            - 1,84,325 - 12.5% Fully convertible debentures of Rs
 200/-each for cash at par
               aggregating to Rs 368.65 lacs were issued on Rights
 basis to the existing equity
               share-holders of the Company and Rs 1,87,500 - 12.5%.
 
             - Fully Convertible Debentures of Rs 200/-each at par
 aggregating to Rs 375.00
               lacs were issued to the public.
 
 1992 - The Company has built a colony for the labourers by which the
 absenteeism has
              been substantially reduced.  The company has also
 intstalled a 1150 KVA DG set,
              thereby minimising the impact of frequent power
 shortages.
 
           - Due to severe shortage of foreign exchange faced by the
 country, no substantial
              increase in the drilling operations by ONGC/Oil India
 has taken place during 1991-92.
 
           - During the year, one kiln of 30,000 tons per annum was
 commissioned in March 1992 while
              the 2nd kiln also started operations in May 1992.
 
 1993 - The unit undertook expansion for installing 9,216 spindles
 for
              manufacturing polyester viscose yearn.  Profitability at
 Jammu
              unit was adversely affected due to phenomenal increase
 in raw
              cotton prices and recession in the world textile
 market.
 
           - The Company undertook further expansion of installing
 9,216
              spindles for manufacturing PV blended yarn.
 
            - During Sept.Oct. 1982, 58,50,000 rights equity shares
 issued
              (Prop. 5:8; Prem. Rs 30).  21,50,000 shares issued on
 pref.
              basis to shareholders of Rajasthan Spg. & Wvg. Ltd.,
 Maral
              Overseas Ltd. Bhilwara Synthetics Ltd. and to 15% NCD
 holders of
              the Company.  Another 4,00,000 shares issued to
 employees (only
              1,62,850 shares taken up).
 
 1994 - During November, 26,33,000 No. of equity shares were allotted
 to
              promoters on private placement basis.
 
 1996 - Balancing equipments were added to maintain competitive edge
 and
              to increase product versatility.  The Company pursuaded
 the hydel
              power project at Tawa primarily to ensure power supply
 for
              graphite plant, when there is power scarcity.
 
           - The Company proposed to acquire sponge iron plants
 incorporating
              indigenous know-how and with a capacity of 60,000 TPA
 each.
 
           - Technical assistance agreement was signed with Sponge
 Iron India
              Ltd. (SIIL), a Government of India undertaking.
 
           - The 12.8 MW Co-generation power unit for sponge iron
 plant was
              commissioned during the year.
 
 1997 - The 12.8 MW co-generation power unit was also successfully
 commissioned
              during the year.
 
            - The two power projects at Tawa and Durg, with a total
 capacity of 26.30
               MW were commissioned in early 1997, Graphite expansion
 to 24,000 tons
               was also completed by March, 1997 and the expansion of
 Rishabhdev unit
               taking its total capacity to 32,732 spindles, which was
 completed in
               March, 1996 became fully operational.
 
           - Shri Ravi Jhunjhunwala and Shri Shekhar Agarwal have been
 nominated as
              the Chairman, and Vice Chairman effective 6th October,
 1996 respectively.
 
            - Shri A de Lastours, Shri V K Mehta and Shri O P Gupta,
 Directors, retire by rotation.
 
            - 19% Secured Redeemable Non-Convertible Debentures of Rs.
 100 lacs
              privately placed with Army Group Insurance Fund (AGIF)
 are redeemable
              in three equal instalments at the end of 6th, 7th and
 8th year from the
              date of allotment being 12th February, 1992 together
 with 5% premium
              payable at the end of the 7th year.
 
           - 18.50% Secured Redeemable Non-Convertible Debentures of
 Rs. 1500
              lacs have been allotted on private placement basis to
 UTI, LIC, GIC &
              its subsidiaries and Army Group Insurance Fund, out of
 which)
 
           - 19% Secured Redeemable Non-Convertible Debentures of Rs.
 100 lacs
              privately placed with The Oriental Insurance Company
 Limited (OIC) are
              redeemable at the end of 5th year from the date of
 allotment being 30th
              October, 1996.
 
            - 20.80% Secured Redeemable Non-Convertible Debentures of
 Rs. 4200
               lacs privately placed with the Industrial Credit and
 Investment
               Corporation of India Limited (ICICI) and SCICI Limited
 are redeemable
               in twenty equal quarterly instalments commencing from
 15th July, 1997
               and ending on 15th April, 2002.
 
            - During the year, the company has installed and started
 commercial
               production on Hydel Power Project at Tawa and Waste
 Heat
               Recovery based power plant at Durg w.e.f. 21.1.1997 and
 16.3.1997
               respectively.
 
 1998 - The two Captive Power plants, both were commissioned towards
 the end of
              1996-97.
 
            - The Rishabhdev Unit has been awarded SRTEPC award for
 highest export of
               100% Poly spun yarn during 1996-97.
 
            - Shri N. V. Khote, Shri P. Murari and Shri D. N. Davar,
 Directors, retire by rotation.
 
 1999 - The Graphite Division, by virtue of its export performance
 bagged the National Award
              instituted by the Govt of India and the same was
 presented by the Hon'ble Prime Minister,
              Shri Atal Behari Vajpayee.  The Company also received
 the Top Export Award from
              CAPEXIL for the thirteenth year, consecutively.
 
           - The Rishabhdev unit successfully commissioned a 4.2 MW
 Wartsila Generating set for
              captive consumption of the Textile Division.
 
            - The Sponge Iron Division has received National Award
 from the Hon'ble Prime
               Minister of India for excellent performance in the
 field of exports during the year
               1997-98.
 
            - Shri L N Jhunjhunwala, Shri Shekhar Agarwal and Shri A
 de Lastours, Directors,
               retire by rotation.
 
 2000 - The Company embarked on a capacity expansion of Graphite
 electrode Plant
               from 22000 MT to 30000 MT.
 
           - The Company's Hydro Electric Plant being seasonal in
 nature, remained closed
              during the quarter.
 
 2001 - The company  has shortlisted Egypt, Tunisia and Thailand for
 its first overseas graphite
              electrode making plant.
 
 
 2002
 
 -Board approves in principle the delisting of equity shares of the
 company from Delhi Stock Exchange, Jaipur stock exchange, Calcutta
 and Bangalore stock exchanges.
 
 -Promoters have acquired the shares of the company through open
 market in different names.
 
 -Completes the disinvestment of its textiles business at Rishabdev
 unit in Rajasthan.
 
 -Receives CAPEXIL Award for Top Exporter.
 
 2003
 
 -Reports Inter-se change in the shareholding pattern of the company.
 
 -HEG Ltd has informed that at the Annual General Meeting of the
 members held on September 27, 2003, members have approved delisting
 of its equity shares from Delhi, Calcutta, Bangalore and Jaipur Stock
 Exchanges
 
 2004
 
 -HEG, the flagship of the LNJ Bhilwara group has emerged as the
 winner of an international competitive bid for supply of graphite
 electrodes technology to National Iranian Steel Company (NISCO), the
 largest steel manufacturer in Iran
 
 -Promoters increase their stake to 57.50% in the company
 
 2008
 
 - Heg Ltd has appointed Mr. Ashish Sabharwal as Company Secretary of
 the Company.
 
 - Heg Ltd has appointed Mr. Ashish Sabharwal as Company Secretary of
 the Company.