Graphite India (509488) Q3 25/26 earnings summary

Executive summary

• Net sales for Q3 FY2026 reached Rs. 642 Crores, up 22.8% year-over-year, driven by higher volumes and realizations.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31st December 2025 were approved by the Board on 9th February 2026.

• Auditors issued an unmodified review conclusion for both standalone and consolidated results, indicating no material misstatements.

• EBITDA for Q3 FY2026 was Rs. 150 Crores, a significant increase from Rs. 11 Crores in Q3 FY25.

• Net profit for Q3 FY2026 was Rs. 68 Crores (consolidated), reversing a net loss of Rs. 32 Crores in Q3 FY25.

Financial highlights

• Consolidated net sales for 9M FY2026 were Rs. 2,036 Crores, up 7.5% year-over-year.

• Standalone net sales for 9M FY2026 were Rs. 1,996 Crores, up 12.5% year-over-year.

• Consolidated net profit for 9M FY2026 was Rs. 300 Crores, down from Rs. 406 Crores year-over-year.

• Standalone net profit for 9M FY2026 was Rs. 337 Crores, down from Rs. 390 Crores year-over-year.

• EPS for Q3 FY2026 was Rs. 3.50 (consolidated) and Rs. 5.13 (standalone).

Outlook and guidance

• Inventory write-downs due to falling electrode prices continue, with Rs. 77 Crores (consolidated) and Rs. 75 Crores (standalone) written down as of December 2025.

• The company is monitoring the impact of new Indian labour codes and recognized a one-time exceptional item of Rs. 27 Crores for incremental employee benefits.

• Global steel demand is projected to grow by 1.5% in 2026, with India's demand expected to rise by 9%.

• The company plans to diversify into Synthetic Graphite Anode Materials for lithium-ion batteries, investing Rs. 4,330 Crores in phases.

• The shift towards EAF-based steelmaking is expected to boost demand for graphite electrodes.