Graphite India Limited (GRAPHITE.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-69.0%

₹233.11

vs ₹752.55 price

Levered DCF

-₹35.04

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	68.75×	20.48×	15.36×	25.74×	19.47×	-312.2×	55.33×	2.65×
P/B	2.05×	1.61×	2.21×	1.03×	1.99×	2.2×	0.55×	1.68×
P/S	4.15×	3.81×	4.25×	1.62×	3.32×	5.23×	0.82×	1.16×
EV / EBITDA	45.92×	13.78×	11.27×	14.16×	13.55×	99.42×	28.81×	1.73×
Gross margin	18.5%	45.2%	25.0%	47.9%	52.0%	30.8%	21.4%	141.8%
Operating margin	5.3%	4.3%	-7.7%	8.2%	13.0%	-13.5%	-3.0%	64.1%
Net margin	6.0%	18.6%	27.6%	6.3%	17.0%	-1.7%	1.5%	43.9%
Current ratio	3.22×	4.3×	4.56×	3.22×	3.66×	4.16×	4.48×	3.89×
Debt / equity	0.06×	0.03×	0.03×	0.09×	0.09×	0.05×	0.09×	0.07×
Interest coverage	6.12×	9.74×	-13.16×	19.59×	88.44×	-44.29×	-5.15×	439.05×
Dividend yield	1.8%	2.3%	1.3%	3.8%	1.0%	0.0%	35.1%	8.4%
Payout ratio	122.9%	46.5%	20.6%	98.0%	19.4%	0.0%	1938.3%	22.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.0%	7.9%	14.4%	4.0%	10.2%	-0.7%	1.0%	63.5%
Return on invested capital	1.7%	1.3%	-3.0%	2.9%	5.1%	4.1%	-1.8%	59.2%
Return on assets	2.3%	6.4%	11.9%	3.1%	8.0%	-0.6%	0.8%	49.2%
Free cash flow yield	-0.3%	3.5%	3.4%	-6.5%	-5.9%	5.1%	8.2%	25.4%
Earnings yield	1.5%	4.9%	6.5%	3.9%	5.1%	-0.3%	1.8%	37.7%
Enterprise value	₹123.5B	₹95.3B	₹125.5B	₹55.4B	₹101.9B	₹100B	₹25.4B	₹89.6B
Net debt / EBITDA	1.19×	0.09×	0.13×	1.05×	0.49×	-0.05×	0.61×	-0.01×
Cash conversion cycle (days)	225	321	264	515	399	292	265	-128