Graphite India earnings: Firm logs Rs 954-crore exceptional gain in FY24, shares fall

Shares of Graphite India plunged 5% in the afternoon session today post announcement of Q4 earnings. Graphite India reported a 45% fall in net profit to Rs 16 crore in Q4 of FY24 against Rs 29 crore profit in the Q4 of previous fiscal. Graphite India's revenue fell 11.65% to Rs 720 crore in the last quarter against Rs 815 crore in the corresponding quarter of the previous fiscal. 

The stock slipped 5.08% to Rs 615.60 on BSE.Graphite India stock ended at Rs 648.60 in the previous trading session on BSE.  

Total 0.75 lakh shares of the firm changed hands amounting to a turnover of Rs 4.85 crore on BSE. Market cap of the firm stood at Rs 12,099 crore on Tuesday.              

Stock of the graphite electrodes  maker has gained 91.17% in a year and gained 13% in 2024. In terms of technicals, the relative strength index (RSI) of the stock stands at 47.4, signaling the stock is trading neither in the overbought nor in the oversold zone. 

Graphite India has a one-year beta of 0.7, indicating very low volatility during the period. Graphite India shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day but higher than the 100 day, 150 day and 200 day moving averages.   

Profit before tax of the firm fell to Rs 37 crore in the last quarter against Rs 48 crore in the Q4 of FY23. Earnings per share of the firm slipped to Rs 0.80 in Q4 against Rs 1.58 in Q4 of FY23.

On an annual basis, revenue from operations fell 7.26% to Rs 2950 crore in FY24 against Rs 3181 crore in FY23. 

However, net profit rose to Rs 805 crore in the last fiscal aided by Rs 954 crore gain from exceptional item. In FY23, the graphite incurred an exceptional loss of Rs 53 crore leading to a profit of Rs 199 crore in FY23. 

Graphite India Limited is engaged in the business of manufacturing graphite electrodes, graphite equipment’s, steel, glass reinforced plastic (GRP) pipes and tanks. The company is also engaged in generation of hydel power. The company operates through two segments: graphite and carbon, and others.