Graphite India Q2 FY27 Results: Consolidated Net Profit ₹171 Crore on Total Income of ₹932 Crore
- Earnings
- Graphite electrodes and carbon products
Reviewed byKeshav SehgalBlacklitt Research
Graphite India (NSE: GRAPHITE) reported consolidated total income of ₹932 crore and consolidated net profit of ₹171 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹905 crore and standalone net profit of ₹128 crore, it said in a filing on 3 Nov 2026. Consolidated profit attributable to equity holders of the parent was ₹96 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹932 crore, up 7.0% YoY and down 0.7% QoQ
- Net profit and EPS: ₹171 crore, down 35.5% YoY and up 125.0% QoQ; basic EPS ₹4.89
- Exceptional item: ₹22 crore charge for closure of two German subsidiaries
- Finance costs: ₹4 crore, against ₹3 crore a year earlier
Standalone
The company on its own, without its subsidiaries
- Total income: ₹905 crore, up 13.0% YoY and 3.8% QoQ
- Net profit and EPS: ₹128 crore, up 39.1% YoY and down 18.5% QoQ; basic EPS ₹6.56
- Tax expense: ₹44 crore, against ₹29 crore a year earlier
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 932 | 871 | +7.0% | 939 | -0.7% | |
| Revenue from operations | 826 | 729 | +13.3% | 842 | -1.9% |
| Other income | 106 | 142 | -25.4% | 97 | +9.3% |
| 171 | 265 | -35.5% | 76 | +125.0% | |
| Profit before tax | 139 | 105 | +32.4% | 214 | -35.0% |
| Finance costs | 4 | 3 | +33.3% | 4 | 0.0% |
| Depreciation | 24 | 24 | 0.0% | 23 | +4.3% |
| Tax expense | 32 | n/a | n/a | 38 | -15.8% |
| Net profit margin | 18.35% | 30.42% | -12.08 pp | 8.09% | +10.25 pp |
| EPS, basic (₹) | 4.89 | 3.91 | +25.1% | 8.82 | -44.6% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit fell 35.5% YoY while total income rose 7.0%. Revenue from operations grew 13.3%, but other income fell 25.4%, to ₹106 crore, which is 11.4% of total income this quarter.
The quarter includes a ₹22 crore exceptional item for restructuring costs and inventory write-downs tied to the closure of Bavaria Carbon Specialities GmbH and Graphite COVA GmbH in Germany, approved by a subsidiary on 8 Jul 2026. The notes say the closure is subject to employee consultation and statutory requirements, and the filing does not give the closure's further financial impact.
Consolidated tax expense of ₹32 crore is 23.0% of profit before tax, against ₹38 crore in the June quarter.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 905 | 801 | +13.0% | 872 | +3.8% | |
| Revenue from operations | 806 | 710 | +13.5% | 765 | +5.4% |
| Other income | 99 | 91 | +8.8% | 107 | -7.5% |
| 128 | 92 | +39.1% | 157 | -18.5% | |
| Profit before tax | 172 | 121 | +42.1% | 198 | -13.1% |
| Finance costs | 3 | 1 | +200.0% | 3 | 0.0% |
| Depreciation | 22 | 22 | 0.0% | 21 | +4.8% |
| Tax expense | 44 | 29 | +51.7% | 41 | +7.3% |
| Net profit margin | 14.14% | 11.49% | +2.66 pp | 18.00% | -3.86 pp |
| EPS, basic (₹) | 6.56 | 4.70 | +39.6% | 8.02 | -18.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 39.1% YoY, slower than profit before tax (up 42.1%), while total income rose 13.0%. Revenue from operations grew 13.5% to ₹806 crore, and other income rose 8.8% to ₹99 crore, 10.9% of total income.
Standalone tax expense rose 51.7% to ₹44 crore, which is 25.6% of profit before tax of ₹172 crore. Standalone net profit fell 18.5% QoQ while total income rose 3.8%. Standalone finance costs of ₹3 crore are 0.3% of total income.
The standalone notes disclose a further electricity duty interest accrual in the June and September 2026 quarters after a Supreme Court order of 25 Mar 2026, and refunds of ₹417 crore received for earlier assessment years that remain under appeal with no credit taken on a prudent basis.
Inference
The filing reports that the Board approved both sets of results on 3 Nov 2026 and that the auditors issued an unmodified conclusion. It also states that the company paid ₹16 crore of share application money for rights in Godi India Private Limited, with shares allotted on 19 Oct 2026 for standalone and 29 Oct 2026 for consolidated purposes.
The filing does not explain the reason for the fall in consolidated profit attributable to the parent or the difference in tax expense between the consolidated and standalone results, and it does not state the outcome of the pending tax appeals.
Filed with BSE on . Reference: Original filing (PDF)
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