- 14 Nov 2022
- ICICIdirect Research
GRAPHITE INDIA REPORTS STEADY OPERATIONAL PERFORMANCE IN Q2FY23
GRAPHITE - 535 Change: -41.10 (-7.13 %)News:
For Q2FY23, Graphite India’s consolidated capacity utilisation stood at 56% as compared to 82% in Q2FY22 and 71% in Q1FY23, lower than our estimate of 68%.For Q2FY23, Graphite India reported consolidated topline of Rs 825 crore, up 19% YoY, lower than our estimate of Rs 868 crore. During the quarter, consolidated other income stood at Rs 111 crore, up 41% YoY and 258% QoQ. Consolidated other income included an amount to the tune of Rs 74 crore on account of fair value gain on investments carried at Fair value through Profit and Loss (FVTPL). The ensuing consolidated PAT for the quarter stood at Rs 92 crore, down 28% YoY (our estimate of Rs 96 crore).
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Graphite India reported a mixed set of numbers for Q2FY23, wherein on the back muted consolidated capacity utilisation level, consolidated topline came in lower than our estimate, while consolidated EBITDA came in broadly in line with our estimate, aided by better than expected consolidated EBITDA margins.Consolidated EBITDA for the quarter stood at Rs 102 crore, down 6% YoY, broadly in line with our estimate of Rs 100 crore. Consolidated EBITDA margin for the quarter stood at 12.4% as compared to 15.8% in Q2FY22 (our estimate of 11.5%).
Impact:
Neutral