Graphite India Limited reported a 41.6% decline in net profit for the financial year ended March 31, 2026, to ₹264 crore from ₹452 crore in the previous year. Revenue from operations for the year increased 16.2% to ₹2,812 crore compared to ₹2,420 crore in FY25. On a consolidated basis, the company reported a net loss of ₹105 crore for Q4, compared to a profit of ₹50 crore in the same period last year, while Q4 EBITDA swung to a loss of ₹141 crore from a gain of ₹69 crore year-on-year. The board of directors recommended a dividend of ₹7 per equity share of face value ₹2 each, subject to shareholder approval at the 51st AGM.

Standalone Financial Performance

The standalone financial results for the quarter ended March 31, 2026, show a net loss of ₹73 crore, compared to a profit of ₹62 crore in the same period last year. Quarterly revenue from operations rose to ₹816 crore from ₹645 crore in Q4FY25. The company recognized an exceptional item of ₹16 crore during the quarter, reversing a prior provision related to new labour codes, resulting in a net charge of ₹11 crore for the year.

The full-year standalone financial highlights are presented below:

Consolidated Q4 Performance

On a consolidated basis, Graphite India's Q4 results reflected a sharper deterioration, with the company swinging to a net loss and an EBITDA loss compared to a profit and EBITDA gain in the year-ago period. Revenue, however, showed meaningful growth year-on-year. The key consolidated Q4 metrics are summarised below:

Key Developments

The board approved the re-appointment of Mrs Sudha Krishnan as a Non-Executive Independent Director for a second term of five years, effective December 1, 2026, to November 30, 2031, subject to shareholder approval. Additionally, the company recognized additional finance costs of ₹15 crore during the quarter following a Supreme Court order upholding the levy of electricity duty on captive power generation for a prior period. The statutory auditors, S.R. Batliboi & Co. LLP, issued an unmodified opinion on the standalone and consolidated financial results. The trading window for dealing in the company's shares, which closed on April 1, 2026, is scheduled to reopen on May 31, 2026.

Segment and Industry Outlook

For the full year FY26, the Graphite and Carbon segment reported revenue of ₹2,594 crore, a growth of 15.4% year-on-year, while the Steel segment revenue grew 13.2% to ₹257 crore. Capacity utilization increased to 104% in Q4 FY26, compared to 81% in Q4 FY25. K K Bangur, Chairman, noted that net sales growth was primarily driven by higher volumes, with realizations remaining flat. He highlighted that the company's net cash balance stood at ₹3,767 crore as of March 31, 2026. The company remains optimistic about improving realizations to absorb cost increases, driven by ongoing growth in India's steel sector, which is projected to grow by 9.2% in 2027.

Graphite India Limited has announced the resignation of Mr. Debanjan Mandal from the position of Independent Director on its board. The resignation is effective immediately from May 22, 2026. The company disclosed this development to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Debanjan Mandal cited extensive travel and professional and other preoccupations as the reasons for his decision to step down. Consequently, he has ceased to be a member of the Audit Committee and the Committee of Directors of the company. In his resignation letter, he confirmed that there are no other material reasons for his departure aside from the stated professional commitments.

The board has accepted the resignation, and the Company Secretary will undertake the necessary procedural steps to file the appropriate forms. Mr. Mandal holds directorships in other listed entities, including Spencer's Retail Limited, Titagarh Rail Systems Limited, and CESC Ltd, where he also serves on various committees.

Details of the Resignation

The following table outlines the key particulars regarding the change in the directorship: