In the last trade session on BSE, the price of Graphite India stock went down by 0.81 percent, ending at Rs 372.15. In a year, the stock of Graphite India has gone down 16.28%, and in 2023, it will go down 0.32%.
Today, shares of Graphite India Ltd are getting a lot of attention because ICCI Direct thinks the stock of the company that makes graphite electrodes will go up by 17%. It has kept Graphite India as a buy with a goal price of Rs 440.
In the last trade session on BSE, the price of Graphite India stock went down by 0.81 percent, ending at Rs 372.15. In a year, the stock of Graphite India has gone down 16.28%, and in 2023, it will go down 0.32%.
On BSE, 1.01 million shares of the company changed hands, which brought in Rs 3.75 crore. On Tuesday, the company’s market value dropped to Rs 7270.90 crore.
Technically, the stock’s relative strength index (RSI) is 72.6, which means it is trading in the “overbought” zone. The one-year beta for Graphite India is 1.1, which means that the stock will be very volatile during that time. The 5 day, 20 day, 50 day, 100 day, and 200 day moving averages are all higher than the price of Graphite India shares.
1. The World Steel Association (WSA) predicts that steel demand will rise by 2.3% in CY23 to reach 1822 million tonnes (MT), and it is predicted to rise by 1.7% in CY24 to reach 1854 MT. This is good news for the market for graphite electrodes.
Steel companies are switching to the EAF process, which is likely to keep long-term demand for graphite electrodes high. The EAF process is thought to be better for the environment than traditional ways of making steel. This makes it a good choice for businesses that want to reduce their carbon footprint.
“Over the last three years, Graphite India stock has given a return of 82% (from Rs 206 in May 2020 to Rs 375 in May 2023). The stock still has a BUY grade from us. The firm said, “We value Graphite India at Rs 440, which is 6.5x FY25E EV/EBITDA.”
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.
