Graphite India Ltd logo

Graphite India Ltd

GRAPHITE NSE

Graphite India Ltd is mainly engaged in the business of manufacturing and selling of graphite & carbon and other products.[1]

AI Verdict: HOLD Confidence: 4%

Graphite India is nearly debt-free with a healthy 50.4% dividend payout, but a PE of 72.9x is hard to justify given 3-year ROE of just 4% and a 60% TTM profit decline. The 100% buy consensus from 3 analysts provides some comfort, but weak fundamentals and stretched valuations warrant caution.

Key Fundamentals

MicrocapElectrodes & RefractoriesIndustrial Products
Market Cap
₹11,977 Cr
Volatility
Moderate
P/E Ratio
67.61
EBITDA
₹190 Cr
Return on Equity
14.33%
Debt to Equity
0.03
Book Value
₹299.89
EPS
₹15.55
52W High
₹802.4
52W Low
₹505.8

Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 50.4%

Weaknesses

4
  • The company has delivered a poor sales growth of 7.82% over past five years.
  • Company has a low return on equity of 4.13% over last 3 years.
  • Earnings include an other income of Rs.163 Cr.
  • Working capital days have increased from 211 days to 430 days

Growth Rate

Revenue Growth
-4.89% ↘
Net Income Growth
-68.14% ↗
Cash Flow Change
-26.46% ↘
ROE
-45.50% ↗
ROCE
-44.79% ↗
EBITDA Margin (Avg.)
-72.78% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 1d ago
HOLD
Risk high

Graphite India is nearly debt-free with a healthy 50.4% dividend payout, but a PE of 72.9x is hard to justify given 3-year ROE of just 4% and a 60% TTM profit decline. The 100% buy consensus from 3 analysts provides some comfort, but weak fundamentals and stretched valuations warrant caution.

Bull Case 7
  • Company is almost debt-free, providing significant financial flexibility and downside protection in a cyclical industry
  • 100% of analysts (3 out of 3) have a buy rating, indicating unanimous near-term optimism
  • Healthy dividend payout ratio of 50.4% rewards shareholders even during earnings downturns, with current yield at 1.1%
  • Stock CAGR of 18% over 3 years and 24% over 10 years demonstrates long-term wealth creation track record
  • TTM sales growth has recovered to 11% after a 3-year compounded sales decline of -4%, signaling a potential cyclical upturn
  • 10-year ROE average of 14% shows the business can generate strong returns at the peak of the graphite electrode cycle
  • Market cap of Rs.12,264 Cr provides reasonable liquidity for institutional investors in the specialty industrials space
Bear Case 8
  • PE ratio of 72.9x is extremely elevated for a cyclical industrial company with volatile earnings, leaving no margin of safety
  • TTM compounded profit declined by 60%, indicating severe earnings deterioration in the current period
  • Working capital days have nearly doubled from 211 to 430 days, signaling serious inventory buildup or collection issues
  • 3-year ROE of only 4% and last year ROE of 3% reflect very poor capital efficiency well below cost of equity
  • 5-year compounded sales growth of just 7.82% is weak for a company trading at 72.9x earnings
  • Earnings quality is questionable with other income of Rs.163 Cr forming a significant portion of reported profits
  • 5-year stock CAGR of 0% means shareholders have earned zero capital appreciation over half a decade despite market tailwinds
  • Price-to-book of 2.13x is not cheap enough to compensate for the low single-digit ROE being generated on that book value

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

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Neutral 3
  • Kotak MF meeting on Q4 results Jun 23

    Graphite India management scheduled a meeting with Kotak Mutual Fund on June 24, 2026 to discuss Q4 FY2025-26 earnings.

  • Dividend record date July 20 Jun 9

    Graphite India fixed July 20, 2026 as the record date for FY26 dividend payment. The 51st AGM is scheduled for August 4, 2026.

  • UTI MF meeting on Q4FY26 Jun 3

    Graphite India scheduled a meeting with UTI Mutual Fund representatives on June 4, 2026 to discuss Q4 FY26 performance.

TL;DR: Recent news flow for Graphite India is purely procedural, covering institutional investor meetings and AGM-related announcements. There are no material headwinds or positive catalysts visible in the current news cycle. Investor engagement with multiple mutual funds (Kotak, UTI) around Q4 results suggests routine post-earnings outreach. The outlook remains data-dependent, with the upcoming AGM on August 4 and dividend record date on July 20 as the next key calendar events.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
815
747
793
690
720
728
643
523
666
665
729
642
816
Expenses
753
838
823
703
730
615
533
531
627
622
686
600
955
Operating Profit
62
-91
-30
-13
-10
113
110
-8
39
43
43
42
-139
OPM %
8%
-12%
-4%
-2%
-1%
16%
17%
-2%
6%
6%
6%
7%
-17%
Other Income
5
78
1,045
63
72
194
168
19
57
150
89
81
55
Interest
4
6
4
4
3
3
4
2
2
2
3
2
18
Depreciation
15
18
19
21
22
20
22
23
25
24
24
24
23
PBT
48
-37
992
25
37
284
252
-14
69
167
105
97
-125
Tax %
40%
-19%
19%
32%
57%
17%
23%
50%
29%
20%
28%
31%
-16%
Net Profit
29
-30
802
17
16
236
194
-21
49
133
76
67
-105
EPS in Rs
1.48
-1.54
41.15
0.92
0.82
12.13
9.98
-1.02
2.56
6.86
3.94
3.48
-5.32
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
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
Expenses
1,574
1,398
1,428
1,821
2,838
3,180
2,173
2,568
2,869
3,093
2,307
2,651
Operating Profit
137
135
40
1,445
5,020
-86
-215
458
312
-143
253
201
OPM %
8%
9%
3%
44%
64%
-3%
-11%
15%
10%
-5%
10%
7%
Other Income
29
49
86
88
155
174
316
294
80
1,258
438
163
Interest
16
9
8
8
12
18
6
5
13
17
11
25
Depreciation
44
49
46
52
62
51
52
55
57
80
90
95
PBT
107
125
72
1,473
5,101
19
43
693
322
1,017
591
244
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
EPS in Rs
2.95
4.24
3.61
52.82
174
2.3
-1.64
25.83
10.2
41.36
23.65
8.96
Div. Payout %
68%
47%
55%
32%
32%
87%
-305%
39%
83%
27%
47%
78%
Figures in ₹ Crores

Balance Sheet

  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
367
Other Liabilities
482
417
444
727
1,191
608
760
915
1,112
1,002
1,188
1,354
Total Liabilities
2,595
2,507
2,560
3,731
6,902
5,578
5,527
6,297
6,508
6,790
7,227
7,580
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
2,303
Total Assets
2,595
2,507
2,560
3,731
6,902
5,578
5,527
6,297
6,508
6,790
7,227
7,580
Figures in ₹ Crores

Cash Flow

  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
82
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
-47
Net Cash Flow
1
-11
-5
29
360
-37
-134
-162
-45
14
72
-88
Free Cash Flow
145
213
174
702
2,286
208
510
-576
-328
1,396
343
-168
CFO/OP
163
238
765
83
75
-455
-296
-45
-153
-587
234
18
Figures in ₹ Crores

Ratios

  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
326
Working Capital Days
170
168
133
88
82
167
127
175
192
118
84
430
ROCE %
5%
6%
4%
58%
119%
1%
1%
14%
7%
1%
10%
5%

Shareholding Pattern

As of Mar 2026
Promoters 65.34%
Public 14.18%
DIIs 10.48%
FIIs 6.69%
Others 3.31%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
65.34%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
4.39%
0.00%
4.56%
4.40%
4.59%
5.05%
5.46%
5.00%
6.60%
6.43%
6.69%
DIIs
7.12%
6.02%
5.62%
7.48%
9.10%
9.50%
8.70%
8.42%
8.61%
8.51%
9.49%
10.62%
12.20%
11.42%
10.03%
9.93%
10.51%
10.09%
9.58%
10.02%
10.48%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
14.93%
14.56%
13.85%
16.53%
16.54%
16.14%
17.58%
17.56%
18.21%
18.16%
16.75%
15.82%
14.26%
15.14%
15.95%
16.08%
15.26%
15.99%
14.92%
14.67%
14.18%
Others
12.61%
14.08%
15.18%
10.65%
9.02%
9.02%
8.38%
8.67%
7.83%
7.99%
4.03%
8.22%
3.64%
3.70%
4.08%
3.60%
3.43%
3.59%
3.57%
3.54%
3.31%
No. of Shareholders
2,02,450
2,22,162
2,18,411
2,46,577
2,51,789
2,49,335
2,55,090
2,51,830
2,50,692
2,45,194
2,29,843
2,22,065
2,10,231
2,13,320
2,22,128
2,30,058
2,29,700
2,26,558
2,16,512
2,07,329
1,99,456

Documents

1
Concall - May 2017 May 2017
2
Concall - Aug 2017 Aug 2017
3
Concall - Oct 2017 Oct 2017
4
Concall - Jan 2018 Jan 2018
5
Concall - May 2018 May 2018

Frequently Asked Questions about Graphite India Ltd

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.[1]
Where is Graphite India Ltd (GRAPHITE) listed?
Graphite India Ltd is listed on the Indian stock exchanges. It is listed on NSE: GRAPHITE and BSE: 509488. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Graphite India Ltd belong to?
Graphite India Ltd operates in the Industrials sector within the Industrial Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Graphite India Ltd?
Graphite India Ltd has a market capitalisation of approximately ₹11976.52 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Graphite India Ltd?
The Price-to-Earnings (PE) ratio of Graphite India Ltd is 67.61. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Graphite India Ltd?
Over the past 52 weeks, Graphite India Ltd has traded between a low of ₹505.8 and a high of ₹802.4. This range helps investors understand the stock's price volatility and recent trading levels.
Does Graphite India Ltd pay dividends?
Yes, Graphite India Ltd has a dividend yield of 1.12%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Graphite India Ltd?
Graphite India Ltd has a Return on Equity (ROE) of 14.33%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Graphite India Ltd on Tapetide?
On Tapetide, you can view Graphite India Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Graphite India Ltd is mainly engaged in the business of manufacturing and selling of graphite & carbon and other products.[1]

Website graphiteindia.com
CEO Mr. Ashutosh Dixit
Employees 1,678
Listed 2003-02-07
Face Value ₹ 2
Issued Size 19,53,75,594

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