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Hold Graphite India; target of Rs 475: ICICI Direct

ICICI Direct recommended hold rating on Graphite India with a target price of Rs 475 in its research report dated May 26, 2022.

May 30, 2022 / 04:49 PM IST
 
 
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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 of 98000 tonnes per annum is spread over three plants at Durgapur & Nashik in India & Nuremberg in Germany. 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.



Outlook


We downgrade the stock from BUY to HOLD. We value GIL at Rs 475, 6x FY24E EV/EBITDA.

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first published: May 30, 2022 04:49 pm
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