- 02 Nov 2021
- ICICIdirect Research
Graphite India reports subdued set of numbers for Q2FY22GRAPHITE - 375 Change: -0.55 (-0.15 %)
News: For Q2FY22, Graphite India's consolidated topline for the quarter came in at Rs.692 crore, up 43% YoY and 13% QoQ, lower than our estimate of Rs.712 crore. Consolidated EBITDA came in at Rs.109 crore, down 23% QoQ & consolidated other income for the quarter was at Rs.279 crore, up 1% QoQ and 58% YoY. Furthermore, ensuing consolidated net profit during the quarter was at Rs.128 crore, down 15% QoQ.
Views: Graphite India reported subdued set of numbers for Q2FY22. Higher than expected raw material costs and stores and spares costs lead muted operational performance during the quarter. For Q2FY22, Graphite India reported consolidated capacity utilisation of 81% as compared to 75% in Q1FY22 and 60% in Q2FY21(our estimate of 78%). Consolidated EBITDA margin came in at 15.8% compared to 23.1% in Q1FY22. EBITDA margin and EBITDA came in muted on the back of higher than expected operating costs. During Q2FY22, raw material costs as a percenatge of sales was at 38% compared to 32% in Q1FY22. Similarly during Q2FY22, stores and spares costs as a percentage of sales was at 9% as compared to 7% in Q1FY22