- 31 May 2023
- ICICI Securities
Graphite India reports operationally muted set of Q4FY23 numbers
GRAPHITE - 678 Change: -6.90 (-1.01 %)News: For Q4FY23, Graphite India’s consolidated capacity utilisation stood at 55% as compared to 76% in Q4FY22 and 42% in Q3FY23, lower than our estimate of 60%. For Q4FY23, Graphite India reported consolidated topline of Rs 815 crore, down 3% YoY, however up 16% QoQ (our estimate of Rs 729 crore). Consolidated EBITDA for the quarter stood at Rs 62 crore, down 30% YoY and 14%. During the quarter, consolidated other income stood at Rs 5 crore, down 93% YoY and 85% QoQ (our estimate of Rs 45 crore). The ensuing consolidated PAT for the quarter stood at Rs 29 crore, down 69% YoY and 45% QoQ.
Views: Graphite India reported operationally weak set of number for Q4FY23, wherein consolidated EBITDA and PAT came in below our estimate, on the back of higher than expected raw material costs. Consolidated EBITDA margin for the quarter stood at 7.6% as compared to 10.4% in Q4FY22 and 10.3% for Q3FY23. During the quarter for the consolidated operations, raw material costs as a % of sales stood at 50% as compared to 44% in Q3FY23 and 40% in Q4FY22.
Impact: Positive