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Graphite India

GRAPHITE NSE
₹741.45 −8.85 (−1.18%)
P/E
68.02
View as Markdown
MCP
Close 4 Nov 2026 ₹741.45 +150.30 +25.4% 1Y
Start ₹591.15

Key Fundamentals

SmallcapIndustrial ProductsCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
4.58%
Debt to Equity
0.06
EPS (TTM)
₹10.90
Book Value
₹306.80
Market Cap
—
P/E (TTM)
68.02
P/B
2.42
ROE
3.11%
Dividend Yield
0.93%
EBITDA
₹375 Cr
52W High
₹874.35
52W Low
₹516.20
Day Range
₹708.00 – ₹754.65
Volume
17,73,290

Peer Comparison

Industrials › Industrial Products › Electrodes & Refractories

Graphite peer comparison
Graphite (this company)
₹741.4568.02₹14,021 Cr2.420.93%3.11%4.58%₹3,029 Cr₹209 Cr
HEG
₹288.1815.49₹8,779 Cr1.991.41%7.42%8.35%₹2,639 Cr₹358 Cr
Raghav Productivity Enhancers
₹1,808.80117.84₹8,033 Cr29.500.06%24.30%30.30%₹315 Cr₹71 Cr
Vesuvius
₹370.3029.37₹7,540 Cr4.300.41%15.00%21.30%₹2,134 Cr₹257 Cr
RHI Magnesita
₹363.85—₹7,413 Cr2.110.70%2.83%6.46%₹4,074 Cr−₹353 Cr
Monolithisch
₹1,336.90100.97₹2,745 Cr19.120.00%27.80%34.80%₹154 Cr₹29 Cr
IFGL Refractories
₹172.5430.38₹1,228 Cr1.061.29%3.22%4.92%₹1,953 Cr₹41 Cr
Median 7 companies₹370.3049.20₹7,540 Cr2.420.70%7.42%8.35%₹2,134 Cr₹71 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

42 Weak

Data confidence 100/100

Category scores

Quality
19
Poor
Returns, margins, earnings quality 22% weight
Valuation
42
Weak
Cheap vs sector & own history 24% weight
Growth
58
Good
Sales & profit trajectory 9% weight
Financial Health
63
Good
Solvency, leverage, coverage 9% weight
Momentum
40
Weak
Trend strength, vol-adjusted 12% weight
Ownership
56
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 50.4%
  • Company's working capital requirements have reduced from 88.2 days to 62.4 days

Weaknesses

4
  • Stock is trading at 2.70 times its book value
  • The company has delivered a poor sales growth of 7.81% over past five years.
  • Company has a low return on equity of 4.12% over last 3 years.
  • Earnings include an other income of Rs.322 Cr.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish865
OscillatorsBearish360
Moving AveragesNeutral505

Key readings

RSI (14)
46.40
Neutral
MACD (12,26,9)
−11.22
Bearish
SMA (50)
768.12
Bearish
SMA (200)
694.00
Bullish

As of

Analyst Rating

Based on 3 analysts
BUY100%

3 of 3 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
3
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+6.41%
5Y+7.81%
3Y−3.57%
1Y+11.41%
TTM+21.31%

Net profit

Net profit growth by window
10Y+7.50%
5YTurned to profit
3Y−4.93%
1Y−62.66%
TTM−41.13%

Operating cash flow

Operating cash flow growth by window
10Y−11.06%
5Y−32.31%
3YTurned positive
1Y−83.40%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−1.73 pp
5Y+18.06 pp
3Y−2.73 pp
1Y−2.80 pp
TTM−4.40 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,468 Cr
Mar 2018₹3,266 Cr
Mar 2019₹7,858 Cr
Mar 2020₹3,094 Cr
Mar 2021₹1,958 Cr
Mar 2022₹3,027 Cr
Mar 2023₹3,181 Cr
Mar 2024₹2,950 Cr
Mar 2025₹2,560 Cr
Mar 2026₹2,852 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹70.00 Cr
Mar 2018₹1,032 Cr
Mar 2019₹3,396 Cr
Mar 2020₹45.00 Cr
Mar 2021−₹32.00 Cr
Mar 2022₹505 Cr
Mar 2023₹199 Cr
Mar 2024₹805 Cr
Mar 2025₹458 Cr
Mar 2026₹171 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹562 Cr
Reported High Mean Low

Analyst consensus here uses a different definition from reported ebitda (they differ 1.7× on periods where both exist), so the forecast is shown on its own rather than joined to the reported line.

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk high

Graphite India Ltd trades at ₹750.3 as of 2026-11-03 with a market cap of ₹14,598 Cr, carrying a PE of 68.83x on a TTM EPS of ₹10.9. The company is virtually debt-free (debt-to-equity of 0.06) but faces contracting profitability, with TTM profit declining 39% even as TTM sales grew 21%, while ROE stands at a modest 2.92%.

Bull Case 7
  • Near debt-free balance sheet with a debt-to-equity ratio of just 0.06, providing significant financial flexibility and resilience through industry cycles.
  • TTM sales growth of 21% signals a meaningful revenue recovery, reversing the 3-year compounded sales decline of -4%.
  • Healthy dividend payout ratio of 50.4%, with a current dividend yield of 0.93%, indicating shareholder-friendly capital allocation despite earnings pressure.
  • Working capital efficiency has improved materially, with requirements reducing from 88.2 days to 62.4 days, freeing up cash for operations.
  • 10-year compounded profit growth of 8% and 10-year stock CAGR of 26% reflect the company's ability to deliver through full industry cycles, including the graphite electrode super-cycle.
  • Stock has delivered a 1-year return of 36%, rallying from a 52-week low of ₹516.2, suggesting improving market sentiment around the business.
  • 5-year compounded profit growth of 51% demonstrates the earnings leverage inherent in the graphite electrode business when demand conditions are favourable.
Bear Case 8
  • TTM profit has declined 39%, driving EPS down to ₹10.9 and pushing the PE ratio to an elevated 68.83x — expensive for a cyclical industrial business.
  • ROE stands at just 2.92% currently, with a 3-year average of only 4%, well below the 10-year average of 14%, signalling poor capital efficiency in the current phase.
  • ROCE of 4.45% is low for an industrial company, indicating the core business is generating thin returns on deployed capital.
  • Earnings quality is a concern as reported earnings include other income of ₹322 Cr, meaning core operating profits are materially lower than headline numbers suggest.
  • 3-year compounded profit growth is -8% and 3-year compounded sales growth is -4%, indicating a sustained medium-term deterioration in business fundamentals.
  • Stock trades at 2.5x book value despite sub-3% ROE, a valuation that is difficult to justify purely on current earnings power.
  • 5-year compounded sales growth of only 8% reflects the structurally lumpy and slow-growth nature of the graphite electrode industry outside of supply-shock episodes.
  • The stock is 14.2% below its 52-week high of ₹874.35, and the highly cyclical nature of the electrode business means earnings visibility remains limited.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Limited recent news flow for Graphite India. The only notable update is a marginal ESG score revision from 64 to 62 for FY2025-26, which signals a minor dip in sustainability performance but is unlikely to move the stock. With no material headwinds or positives in the news cycle, the near-term outlook hinges on broader industrial demand trends and graphite electrode pricing.

Neutral 1
  • ESG score dips to 62 Oct 16

    Graphite India received an ESG score of 62 for FY2025-26, down from 64 previously, representing a slight decline in sustainability rating.

Quarterly Results

₹ Cr
GRAPHITE quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
747
793
690
720
728
643
523
666
665
729
642
816
842
826
Expenses
838
823
703
730
615
533
531
627
622
686
600
955
698
—
Operating Profit
−91
−30
−13
−10
113
110
−8
39
43
43
42
−139
144
—
OPM %
−12%
−3.8%
−1.9%
−1.4%
16%
17%
−1.5%
6%
6%
6%
7%
−17%
17%
—
Other Income
78
1,045
63
72
194
168
19
57
150
89
81
55
97
—
Interest
6
4
4
3
3
4
2
2
2
3
2
18
4
4
Depreciation
18
19
21
22
20
22
23
25
24
24
24
23
23
24
PBT
−37
992
25
38
284
252
−14
69
167
105
97
−125
214
139
Tax %
−19%
19%
32%
57%
17%
23%
50%
29%
20%
28%
31%
−16%
20%
32%
Net Profit
−30
802
17
16
236
194
−21
49
133
76
67
−105
171
94
EPS (₹)
−1.54
41.15
0.92
0.82
12.13
9.98
−1.02
2.56
6.86
3.94
3.48
−5.32
8.8
—

Sep 2026: from the results filed on 3 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
GRAPHITE profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,711
1,532
1,468
3,266
7,858
3,094
1,958
3,027
3,181
2,950
2,560
2,852
3,029
Expenses
1,574
1,398
1,428
1,821
2,838
3,180
2,173
2,568
2,869
3,093
2,307
2,650
2,939
Operating Profit
137
135
40
1,445
5,020
−86
−215
458
312
−143
253
202
90
OPM %
8%
9%
2.7%
44%
64%
−2.8%
−11%
15%
10%
−4.9%
10%
7%
3%
Other Income
29
49
86
88
155
174
316
294
80
1,258
438
162
322
Interest
16
9
8
8
12
18
6
5
13
17
11
25
27
Depreciation
44
49
46
52
62
51
52
55
57
80
90
95
94
PBT
107
125
72
1,473
5,101
19
43
693
322
1,017
591
244
291
Tax %
46%
34%
2%
30%
33%
−134%
175%
27%
38%
21%
22%
30%
—
Net Profit
58
83
70
1,032
3,396
45
−32
505
199
805
458
171
209
EPS (₹)
2.95
4.24
3.61
52.82
174
2.3
−1.64
25.83
10.2
41.36
23.65
8.97
10.9
Div. Payout %
68%
47%
55%
32%
32%
87%
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
39%
83%
27%
47%
78%
—

Balance Sheet

₹ Cr
GRAPHITE balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
39
39
39
39
39
39
39
39
39
39
39
39
Reserves
1,707
1,749
1,818
2,693
5,312
4,515
4,503
4,908
4,925
5,572
5,827
5,820
Borrowings
367
302
259
272
360
416
225
436
432
177
173
368
Other Liabilities
482
417
444
727
1,191
608
760
915
1,112
1,002
1,188
1,350
Total Liabilities
2,595
2,507
2,560
3,731
6,902
5,578
5,527
6,297
6,508
6,790
7,227
7,577
Fixed Assets
640
591
667
702
664
637
640
691
789
948
1,094
1,153
CWIP
10
65
32
8
17
35
80
142
127
145
65
61
Investments
369
475
631
1,208
2,590
2,067
2,804
2,494
2,322
3,569
4,024
4,063
Other Assets
1,576
1,375
1,230
1,813
3,631
2,839
2,003
2,971
3,270
2,128
2,044
2,300
Total Assets
2,595
2,507
2,560
3,731
6,902
5,578
5,527
6,297
6,508
6,790
7,227
7,577

Cash Flow

₹ Cr
GRAPHITE cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
171
268
260
760
2,323
253
584
−488
−160
680
500
83
Investing
4
−88
−226
−552
−1,287
549
−519
222
328
−239
−202
−123
Financing
−173
−192
−39
−179
−676
−839
−199
105
−213
−427
−226
−46
Net Cash Flow
1
−11
−5
29
360
−37
−134
−162
−45
14
72
−86
Free Cash Flow
145
213
174
702
2,286
208
510
−576
−328
1,396
343
−169
CFO/OP
163
238
765
83
75
−455
−296
−45
−153
−587
234
18

Ratios

GRAPHITE financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
92
113
110
92
40
48
63
65
63
65
67
85
Inventory Days
479
423
376
372
531
267
312
541
628
252
376
321
Days Payable
101
97
135
195
159
33
71
141
82
30
84
80
Cash Conversion Cycle
470
439
350
269
412
282
305
464
609
287
359
327
Working Capital Days
170
168
133
88
82
167
127
175
192
118
84
62
ROCE %
5%
6%
4%
58%
119%
1%
1%
14%
7%
1%
10%
5%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Graphite insights

62 extracted metrics across FY01–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 65.34%
  • Public 13.32%
  • DIIs 9.67%
  • FIIs 8.11%
  • Others 3.55%
  • Government 0.02%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

  • Q1 FY27 concall · Aug 2026
    PPT
  • Concall · May 2026
    PPT
  • Q3 FY26 concall · Feb 2026
    PPT
  • Q2 FY26 concall · Nov 2025
    PPT
  • Q1 FY26 concall · Aug 2025
    PPT

Frequently Asked Questions about Graphite India

What does Graphite India Ltd do?
Graphite India Ltd is mainly engaged in the business of manufacturing and selling of graphite & carbon and other products.
Where is Graphite India Ltd (GRAPHITE) listed?
Graphite India Ltd trades as GRAPHITE on the NSE and under code 509488 on the BSE.
Which sector does Graphite India Ltd belong to?
Graphite India Ltd is classified under the Industrial Products sector, in the Electrodes & Refractories industry.
What is the PE ratio of Graphite India Ltd?
Graphite India Ltd trades at a PE ratio of 68.02 as of 4 Nov 2026, on earnings per share of ₹10.9, against a book value of ₹306.8 per share.
What is the 52-week high and low of Graphite India Ltd?
Over the last 52 weeks Graphite India Ltd has traded between ₹516.2 and ₹874.35 as of 4 Nov 2026.
Does Graphite India Ltd pay dividends?
Graphite India Ltd has a dividend yield of 0.93%.
What is the Return on Equity (ROE) of Graphite India Ltd?
Graphite India Ltd reported a return on equity of 3.11%. Its debt-to-equity ratio is 0.06.

Company Information

Graphite India Ltd is mainly engaged in the business of manufacturing and selling of graphite & carbon and other products.

Website graphiteindia.com
CEO Mr. Ashutosh Dixit
Employees 1,678
Listed 7 Feb 2003
Face Value ₹2

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