Graphite India (509488) Q2 25/26 earnings summary

Executive summary

• Net sales reached Rs. 729 Crores, up 13.4% year-over-year, driven by higher volumes at stable realizations.

• EBITDA declined 52.5% year-over-year to Rs. 132 Crores; net profit fell 60.8% to Rs. 76 Crores.

• Capacity utilization increased to 99% from 84% in the prior year quarter.

• Unaudited standalone and consolidated financial results for the quarter and half year ended 30th September 2025 were approved and reviewed without qualification by auditors.

Financial highlights

• Consolidated net sales grew 13.4% year-over-year to Rs. 729 Crores; standalone net sales up 21.2% to Rs. 710 Crores.

• Standalone net profit for Q2 FY26 was ₹92 crore, compared to ₹145 crore in Q1 FY26 and ₹182 crore in Q2 FY25.

• Consolidated net profit for Q2 FY26 was ₹83 crore, compared to ₹149 crore in Q1 FY26 and ₹204 crore in Q2 FY25.

• Consolidated EBITDA margin dropped to 18.1% from 43.2% year-over-year.

• Inventory write-downs due to lower electrode prices: Rs. 80 Crores as of September 2025.

Outlook and guidance

• Global steel demand expected to show moderate growth in 2026, led by developing economies.

• India's steel demand projected to rise by around 9% in 2026, supported by infrastructure investments.

• Inventory write-downs due to falling electrode prices may continue to impact margins.

• Management remains focused on cost competitiveness and operational efficiency.