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Graphite India Research Report - 16th Dec 2015

Capital Goods | Published on Apr 28th 2010

IT

Graphite India (GIL) is the worlds fifth largest manufacturer of Graphite Electrodes, which is a key input in steel production through the electric arc furnace (EAF) route. The Graphite Electrodes Industry is on a rebound, with EAF steel production expected to increase to 417.4 million metric tonne (mn mt) by CY2011E, a CAGR of 10.8% over CY2009-11E. We expect GIL to ride the uptrend and gain further Market Share. At current levels, the stock is trading at 1.2x and 1.1x FY2011E and FY2012E BV, respectively. We Initiate Coverage on the stock with a Buy recommendation.

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CMP
Target Price
Investment Period

Stock Info

MCAP BSE (Rs in Cr)1,423.49
MCAP NSE (Rs in Cr)1,423.49
P/E (x)21.81
EPS (Rs.)3.34
BV (Rs.)91.30
Div Yield (%)2.75
FV (Rs.)2.00
P/BV (x)0.80
EV/Sales (x)1.12
EV/EBITDA (x)6.16

Shareholding Pattern (%)

Promoter65.0
Foreign14.0
Public & Others8.0
Institution7.0
Corporate6.0
Grand Total100.0

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