Graphite India FY2026: Higher Volumes Lift Sales, Q4 Marked by Price Led Margin Stress

For FY2026, consolidated net sales were Rs 2,852 crore, EBITDA was Rs 375 crore, and net profit was Rs 171 crore, as stated in the executive summary.

The presentation shows Q4 FY2026 consolidated EBITDA of negative Rs 100 crore and net loss of Rs 105 crore, and notes mention inventory valuation on NRV basis due to electrode price declines plus fair value loss on investments.

On a consolidated basis at March 2026, cash and cash equivalents including investments were Rs 4,134 crore, total debt was Rs 367 crore, resulting in net cash of Rs 3,767 crore.

Segment reporting in the presentation includes Graphite and Carbon, Steel, and Others, with Graphite and Carbon being the largest contributor.

Management highlighted that the first phase of electrode capacity expansion is expected to be commissioned in the current financial year and that the Synthetic Graphite Anode Materials project continues as previously announced.

The presentation states that stricter environmental regulations and policies such as the EU CBAM are expected to accelerate the shift from BF BOF to EAF steelmaking, and EAF production drives graphite electrode demand.