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India Equity Research Reports, IPO and Stock News
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Graphite India
For 1QFY2012, Graphite India (GIL) posted top line of `319cr (`258cr), registering an
increase of 23.3% yoy, which was below our expectation, owing to the lockdown in their
Powmex Steel Division. OPM contracted by 371bp yoy to 19.3%. Despite contraction in
OPM, PAT increased by 7.2% yoy to `37cr (`34cr) because of higher sales. Going ahead
also, the scenario is positive, with the commencement of steel production again in June
(showing a strong pick-up). We continue to maintain our Buy recommendation on the
stock with a target price of `123. We may change our recommendation and target price
post interaction with the management.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Graphite India
For 1QFY2012, Graphite India (GIL) posted top line of `319cr (`258cr), registering an
increase of 23.3% yoy, which was below our expectation, owing to the lockdown in their
Powmex Steel Division. OPM contracted by 371bp yoy to 19.3%. Despite contraction in
OPM, PAT increased by 7.2% yoy to `37cr (`34cr) because of higher sales. Going ahead
also, the scenario is positive, with the commencement of steel production again in June
(showing a strong pick-up). We continue to maintain our Buy recommendation on the
stock with a target price of `123. We may change our recommendation and target price
post interaction with the management.
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