Graphite India (509488) Q3 24/25 earnings summary

Executive summary

• Consolidated net sales for 9M FY2025 were Rs. 1,894 Cr, down 15.1% year-over-year; EBITDA rose to Rs. 596 Cr from Rs. 98 Cr in 9M FY24.

• Net profit for 9M FY2025 was Rs. 409 Cr, down from Rs. 789 Cr in 9M FY24; EPS at Rs. 21.08.

• Q3 FY2025 consolidated net sales were Rs. 523 Cr, a 24.2% decline year-over-year and 18.7% sequentially; EBITDA at Rs. 11 Cr.

• Q3 FY2025 saw a consolidated net loss of Rs. 21 Cr versus a net profit of Rs. 17 Cr in Q3 FY24; EPS at Rs. (1.03).

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2024.

Financial highlights

• Standalone net sales for 9M FY2025 were Rs. 1,775 Cr, down 18.9% year-over-year; EBITDA at Rs. 552 Cr.

• Standalone net profit for 9M FY2025 was Rs. 390 Cr, down from Rs. 838 Cr in 9M FY24; EPS at Rs. 19.97.

• Q3 FY2025 standalone net sales were Rs. 517 Cr, down 24.2% year-over-year; EBITDA at Rs. 32 Cr.

• Q3 FY2025 standalone net profit was Rs. 3 Cr, down from Rs. 50 Cr in Q3 FY24; EPS at Rs. 0.20.

• Exceptional gain of Rs. 954 Cr from sale of Bengaluru land in prior year was not repeated in the current period.

Outlook and guidance

• Global steel demand is forecast to drop by 0.9% in 2024 and grow by 1.2% in 2025.

• Steel demand in developing world (ex-China) projected to grow 3.5% in 2024 and 4.2% in 2025, led by India.

• India's steel consumption expected to grow 8% in 2024, supported by infrastructure and industrial sectors.

• Graphite electrode prices remain under pressure due to weak demand and high raw material costs.

• No explicit forward-looking guidance provided; results reflect ongoing challenges from lower electrode prices and subdued demand.