GRAPHITE · Capital Goods
Graphite India Ltd. reported revenue of ₹728 cr for April to June 2024, −2.5% on the year and +1.1% on the quarter.
Operating profit (EBITDA) was ₹113 cr, a margin of 15.5%, +2,770 bps on the year and +1,691 bps on the quarter.
The company swung to a net profit of ₹236 cr from a loss of ₹30.0 cr a year earlier, with earnings per share of ₹12.13.
Capital goods and EPC revenue follows project execution, which makes quarters uneven; the order book and new orders tell more about the year than one quarter does. The quarterly statements do not carry the order book, new orders and working capital; those come with the filing read.
On earnings per share of ₹55.02 over the last four quarters, the stock at ₹770.05 trades at 14.0 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Half or more of pre-tax profit came from other income. What is it, and does it repeat?
Other income was 68% of profit before tax.
Source: Quarterly statements
A lower tax rate lifted profit. Is the lower rate going to last?
Effective tax rate 17.0% against 36.0% over the previous quarters, worth about ₹54.0 cr of profit.
Source: Quarterly statements
Margin rose sharply on flat revenue. Which cost fell, and will it stay down?
EBITDA margin 15.5%, +2,770 bps on the year (+1,691 bps on the quarter).
Source: Quarterly statements
Turned profitable from a loss a year ago.
Net profit ₹236 cr against a loss of −₹30.0 cr.
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹793 cr | ₹690 cr | ₹720 cr | ₹728 cr | ₹643 cr | ₹523 cr | ₹666 cr | ₹665 cr | ₹729 cr | ₹642 cr | ₹816 cr | ₹842 cr |
| YoY | — | — | — | −3% | −19% | −24% | −7% | −9% | +13% | +23% | +23% | +27% |
| EBITDA margin | −3.8% | −1.9% | −1.4% | 15.5% | 17.1% | −1.5% | 5.9% | 6.5% | 5.9% | 6.5% | −17.0% | 17.1% |
| Other income, % of PBT | 105% | 252% | 195% | 68% | 67% | — | 83% | 90% | 85% | 84% | — | 45% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 19% | 32% | 57% | 17% | 23% | — | 29% | 20% | 28% | 31% | — | 20% |
| Net profit | ₹802 cr | ₹17.0 cr | ₹16.0 cr | ₹236 cr | ₹194 cr | −₹21.0 cr | ₹49.0 cr | ₹133 cr | ₹76.0 cr | ₹67.0 cr | −₹105 cr | ₹171 cr |
| YoY | — | — | — | — | −76% | −224% | +206% | −44% | −61% | — | −314% | +29% |
| Core profit YoY | — | — | — | — | — | — | — | −81% | −81% | — | −1,600% | +588% |
| EPS | ₹41.15 | ₹0.92 | ₹0.82 | ₹12.13 | ₹9.98 | −₹1.02 | ₹2.56 | ₹6.86 | ₹3.94 | ₹3.48 | −₹5.32 | ₹8.80 |
| Flags | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 2 | 2 | 1 | 2 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Graphite India Ltd. reported revenue of ₹728 cr (−2.5% on the year) and net profit of ₹236 cr (— on the year) for April to June 2024.
2 checks raised a question: Half or more of pre-tax profit came from other income. What is it, and does it repeat?
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.