Buy Graphite India, target price Rs 702: ICICI Direct

ICICI Direct has a buy call on with a target price of Rs 702 for a duration of 14 days. The current price of Graphite India is Rs 653.7. ICICI Direct recommended to keep a stoploss at Rs 605 .

Graphite India, incorporated in the year 1974, is a Mid Cap company with a market cap of Rs 12820.55 Crore operating in Industrial Consumables sector.

Graphite India key Products/Revenue Segments include Graphite Electrodes Anodes & Miscl., Graphite Equipments, High Speed Steel, Calcined Petroleum Coke, Export Incentives, Others, Electricity, Carbon Paste, GRP Pipes, Tanks & Soils, Royalty Income, Alloy Steel, Sale of services for the year ending 31-Mar-2020.

Financials

For the quarter ended 31-12-2020, the company has reported a Consolidated Total Income of Rs 641.00 Crore, up 19.81 per cent from last quarter’s total income of Rs 535 Crore and down 6.56 per cent from last year same quarter’s total income of Rs 686.00 Crore. Company has reported net profit after tax of Rs 26 Crore in latest quarter.

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