Today, shares of companies that make electrodes, like Graphite India Ltd and HEG Ltd, went up more than 10% in an otherwise slow market. A lot of shares were sold on BSE, which led to the rise. Even though the global economy is slowing down and interest rates are going up to fight inflation, Graphite India chairman KK Bangur said after Q4 earnings that demand for graphite electrodes should stay strong. The two stocks have gone up in the last three trading days because the graphite electrode business looks good. In the three sessions, HEG stock has gone up 14.25%, while Graphite India stock has gone up 12.79%.
On May 30 and May 31, respectively, Graphite India and HEG said how much money they made.
Today, Graphite India stock started the day on a high note, at Rs 336.20. It went as high as Rs 370 during the day, which was 10.27% higher than its previous close of Rs 335.55 on BSE. The 5 day, 100 day, and 200 day moving averages are all higher than the price of Graphite India shares, but the 20 day and 50 day moving averages are lower.
In one year, the stock has dropped 18.19%, and since the beginning of this year, it has dropped 2.61 %. On BSE, 2.91 million shares of Graphite India changed hands, which brought in Rs 10.52 crore. The company’s market value went up to Rs 7070.64 crore.
In the same way, HEG shares started higher today at Rs 1195. The stock went as high as Rs 1315 during the day, which was 10.69% higher than its previous close of Rs 1188.05 on BSE.
The 5 day, 100 day, and 200 day moving averages are all higher than the price of HEG shares, but the 20 day and 50 day moving averages are lower.
The stock price has gone up 15% in one year and 25% since the start of this year. On BSE, a total of 0.79 million HEG shares were traded, which brought in Rs 10.10 crore. The company’s market value went up to Rs 4962 crore.
For the fourth quarter that finished in March 2023, Graphite India’s consolidated profit fell by 69.47%, from Rs 95 crore to Rs 29 crore. In the same quarter of the previous fiscal year, the company made a net profit of Rs 95 crore. In the March 2023 quarter, the company’s income dropped by 3.44 percent, from Rs 844 crore to Rs 815 crore. EBITDA dropped by 29.55%, from Rs 88 crore in the March quarter of 2022 to Rs 62 crore in Q4.
For the fiscal year that ended in March 2023, the net profit was Rs 199 crore, down from Rs 505 crore for the fiscal year that ended in March 2022. But revenue went up by 5.12%, from Rs 3026 crore in the fiscal year that ended in March 2022 to Rs 3181 crore in the fiscal year that finished in March 2023. In the last fiscal year, EBITDA dropped by 34.32%, from Rs 475 crore to Rs 312 crore.
For the fourth quarter that finished in March 2023, HEG’s consolidated profit fell by 23%, from Rs 129.27 crore to Rs 99.72 crore. In the same quarter of the previous fiscal year, HEG made a net profit of Rs 129.27 crore. In the March quarter of 2023, the company’s income dropped by 8.35%, from Rs 673.06 crore to Rs 616.88 crore. EBITDA dropped by 21.31%, from Rs 156.89 crore in the March quarter of 2022 to Rs 123.45 crore in Q4.
For the fiscal year that ended in March 2023, the net profit was Rs 532.36 crore, up 23.50% from Rs 431.05 crore for the fiscal year that ended in March 2022. In the fiscal year that finished in March 2023, sales went up by 12%, from Rs 2201 crore to Rs 2467 crore.
