ICICI Direct's research report on Graphite India
Graphite India (GIL) is the largest Indian producer of graphite electrodes by total capacity. Its manufacturing capacity is 98000 tonnes per annum. While GIL manufactures a full range of graphite electrodes, it stays focused on the higher margin, large diameter, ultra-high power (UHP) electrodes • GIL has over 40 years of technical expertise in the industry.
Hence, we upgrade the stock from REDUCE to BUY. We value GIL at Rs 440, 6.5x FY24E EV/EBITDA.
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