ICICI Direct, a leading domestic brokerage firm, has given a ‘BUY’ rating to Graphite India shares and set a target price of Rs. 440. The shares of Graphite India closed at Rs. 376 on the National Stock Exchange on Friday, June 9. The brokerage firm stated that the company’s consolidated capacity utilization in the fourth quarter was at 55%, which is lower than the 76% in the same quarter last year and 42% in the December quarter. However, the consolidated revenue in the quarter was at Rs. 815 crore, which is higher than the estimated Rs. 729 crore.
Key Highlights:
– ICICI Direct has given a ‘BUY’ rating to Graphite India shares and set a target price of Rs. 440.
– The shares of Graphite India closed at Rs. 376 on the National Stock Exchange on Friday, June 9.
– The company’s consolidated capacity utilization in the fourth quarter was at 55%, which is lower than the 76% in the same quarter last year and 42% in the December quarter.
– The consolidated revenue in the quarter was at Rs. 815 crore, which is higher than the estimated Rs. 729 crore.
– The consolidated operating profit (EBITDA) in the fourth quarter was at Rs. 62 crore, which is 30% lower on an annual basis and 14% lower on a quarterly basis.
– Graphite India’s consolidated EBITDA margin in the March quarter was at 7.6%, which is lower than the 10.4% in the same quarter last fiscal year and 10.3% in the previous quarter.
Graphite India is the largest company in India that produces graphite electrodes with an annual production capacity of 98,000 tons. The company produces all types of graphite electrodes with a focus on ultra-high power (UHP) electrodes, which have higher margins. Graphite India has nearly 40 years of technical expertise in this industry.
Disclaimer: This information is based on share performance. Investing in the market is subject to risks. Always seek the advice of an expert before investing. Moneycontrol does not offer any investment advice.
Follow DelhiBreakings on Google News
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com
