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Graphite India Ltd Q2FY21 consolidated loss at Rs. 41 crore

Posted On: 2020-11-13 10:59:45


GRAPHITE INDIA LTD. has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.535 crores during the period ended September 30, 2020 as compared to Rs.477 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.(41) crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.(78) crores for the period ended June 30, 2020.

The company has reported EPS of Rs.(2.09) for the period ended September 30, 2020 as compared to Rs.(4.04) for the period ended June 30, 2020.

FinancialsQ2 FY20-21Q1 FY20-21% Change
Total Income₹ 535 crs₹ 477 crsUp Tick 12.16%
Net Profit₹ (41) crs₹ (78) crsDown Tick -47.44%
EPS₹ (2.09)₹ (4.04)Down Tick -48.27%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.535 crores during the period ended September 30, 2020 as compared to Rs.933 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.(41) crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.185 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.(2.09) for the period ended September 30, 2020 as compared to Rs.9.51 for the period ended September 30, 2019.

FinancialsQ2 FY20-21Q2 FY19-20% Change
Total Income₹ 535 crs₹ 933 crsDown Tick -42.66%
Net Profit₹ (41) crs₹ 185 crsDown Tick -122.16%
EPS₹ (2.09)₹ 9.51Down Tick -121.98%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.1012 crores during the 6 months period ended September 30, 2020 as compared to Rs.1957 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.(119) crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.405 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.(6.12) for the 6 months period ended September 30, 2020 as compared to Rs.20.75 for the 6 months period ended September 30, 2019.

FinancialsHalf-Year Ended FY20-21Half-Year Ended FY19-20% Change
Total Income₹ 1012 crs₹ 1957 crsDown Tick -48.29%
Net Profit₹ (119) crs₹ 405 crsDown Tick -129.38%
EPS₹ (6.12)₹20.75Down Tick -129.49%

K K Bangur, Chairman - Graphite India Ltd said, "The second quarter of the fiscal year started on a positive note with partial relaxation in lockdowns and gradual resumption of busines activity. We started operations at all our factories from May onwards and ramped up production in a phased manner. During the quarter, Graphite India registered consolidated Net Sales of Rs. 485 Cr, an increase of 19% on q-o-q basis. EBITDA Loss of Rs. 28 Cr and Net Loss of Rs. 41 Cr. Whereas ona standalone basis, the company delivered Net Sales of Rs. 473 Cr, EBITDA of Rs. 12 Cr and Net Profit of 5 Cr. The consolidated capacity utilization was 60% as compared to 36% in the previous quarter. The performance was encouraged by improvement in business activity which was offset by lower realizations as pricing continues to remain under pressure. Our balance sheet remains robust with a consolidated Net Cash balance of Rs. 2,404 Cr at the end of September 2020.

During the quarter, the global economies showed an improvement in key macro indicators and business sentiments after experiencing a major decline in economic activity in the first half of the year. As per the World Steel Association (WSA), most countries have registered an increase in steel production on a q-o-q basis however, the recovery was uneven across the countries depending upon the severity of the pandemic. The steel consuming sectors and industries continues to operate at a lower level as infrastructural development remained subdued. The developing countries are still struggling to contain the outbreak and developed countries are experiencing second wave of the pandemic, as a result outlook remain uncertain.

Domestic steel industry registered a strong rebound in the quarter with steel production increasing by 73% on q-o-q basis to 27.1 Mt driven by improvement in industrial activity and higher exports. Our volume growth during the quarter was also driven by demand from domestic steel players however realization remained under pressure.

We remain cautiously hopeful that the down cycle of the electrode industry is bottoming out and with the uptick in overall economic activity, we can expect a growth in the medium term. In the current market conditions, Graphite India continues to focus on operational excellence and prudent capital management to emerge stronger."

Shares of GRAPHITE INDIA LTD. was last trading in BSE at Rs.180.5 as compared to the previous close of Rs. 184.15. The total number of shares traded during the day was 60618 in over 1798 trades.

The stock hit an intraday high of Rs. 186.5 and intraday low of 179.8. The net turnover during the day was Rs. 11021162.


Source: Equity Bulls

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