Graphite India (GRAPHITE) – Latest Fundamental Update

Graphite India has delivered a strong recovery in Q1 FY27. Consolidated revenue increased 26.6% YoY to ₹842 crore, while PAT rose around 28.6% to ₹172 crore. Operating profit improved sharply, with operating margin reaching about 14.4%, showing a significant recovery from the previous year's lower profitability. A major positive is the improvement in capacity utilisation to 97% from 82% YoY, indicating stronger utilisation of its graphite-electrode manufacturing capacity. The company also had a very strong net cash position of around ₹3,939 crore at the end of June 2026, giving it financial flexibility for expansion and shareholder returns. The graphite-electrode industry is benefiting from improving demand and supply-side developments. A recent positive sector trigger was GrafTech International's decision to permanently close its Monterrey, Mexico graphite-electrode plant, potentially tightening global supply and supporting electrode pricing. Graphite India shares had already gained significantly over the past year, reflecting improving sector sentiment.