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Graphite electrodes Historical case study · data as of 30 Jul 2026 · published 02 Nov 2026 (95 days later)

Graphite India — 100-point case study

How Graphite India looked on 50 technical and 50 fundamental measures on 30 Jul 2026 — and what happened over the next three months. Education only; not a current view.

Codes	NSE: GRAPHITE · BSE: 509488
Close on 30 Jul 2026	₹665.70
Market cap then	₹13,003 crore
Valuation	P/E 76.0× · P/B 2.22×
Momentum	RSI (14) 57 · 1-year return +20.0%
Next 3 months	+9.0% vs Nifty 50 -5.2% (to 30 Oct 2026)

Scorecard

Technical — 50 points

20 bullish · 23 neutral · 1 caution · 5 bearish — the picture leaned positive.

Fundamental — 50 points

7 bullish · 28 neutral · 3 caution · 11 bearish — the picture leaned negative.

Price chart

Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance

Technical analysis — 50 points

Calculated by code from daily prices up to 30 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Trend

#	Point	Reading	Tag	Commentary
1	Short-term trend (20 days)	slope +0.57%/day	Bullish	Over the last 20 sessions the regression line of closing prices was rising about 0.57% a day — a short-term uptrend. Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2	Medium-term trend (~5 months)	3M return -10.1%	Neutral	The 100-session trend line was down (-0.02%/day) and the stock was -10.1% over three months, so the medium-term picture was neutral. Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3	Long-term trend (1 year)	1Y return +20.0%	Bullish	Compared with a year earlier the price was +20.0%. A strong positive year. Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4	Weekly chart trend	10W 654.64 / 30W 663.43	Neutral	On the weekly chart the stock showed a weekly close tangled between the 10-week and 30-week averages. Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5	Swing structure (highs/lows)	last highs 772.90→645.00; lows 570.00→618.60	Neutral	The two most recent swing points showed a lower high but a higher low — mixed structure. Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6	ADX (14) — trend strength	22.8	Bullish	ADX at 22.8 shows a trend of moderate strength. ADX measures strength only, not direction. Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7	+DI vs –DI	+DI 28.9 / –DI 16.0	Bullish	+DI was above –DI: upward price pressure outweighed downward pressure. Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.

B. Moving averages

#	Point	Reading	Tag	Commentary
8	Price vs 20-day SMA	633.68 (+5.1%)	Bullish	Close of 665.70 was 5.1% above the 20-day SMA — the short-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
9	Price vs 50-day SMA	658.86 (+1.0%)	Bullish	Close of 665.70 was 1.0% above the 50-day SMA — the medium-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
10	Price vs 200-day SMA	634.99 (+4.8%)	Bullish	Close of 665.70 was 4.8% above the 200-day SMA — the long-term trend filter was positive. Bullish close above the average · Bearish close below the average · No neutral zone.
11	9 / 21 EMA crossover	9E 654.20 / 21E 645.13	Bullish	The 9-day EMA was above the 21-day EMA; the last crossover happened on 23 Jul 2026. Bullish 9-day above 21-day · Bearish 9-day below 21-day · No neutral zone.
12	Golden / death cross (50 vs 200)	no cross in data window	Bullish	The 50-day average was 3.8% above the 200-day. No 50/200 crossover occurred in the data window. Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13	50-day SMA slope	-5.8% in 20 sessions	Bearish	The 50-day average fell 5.8% over the past month — declining. Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14	MA ribbon alignment	634 / 659 / 668 / 635	Neutral	The 20/50/100/200-day averages were tangled — no clean order, typical of a transition or range. Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15	Monthly anchored VWAP	641.14 (+3.8%)	Bullish	Anchored to the start of July, the volume-weighted average price was 641.14; the close was above it — buyers that month were on average in profit. Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.

C. Momentum

#	Point	Reading	Tag	Commentary
16	RSI (14)	56.5	Bullish	RSI at 56.5 showed positive momentum without being overbought. Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17	RSI divergence (last 40 days)	bullish divergence	Bullish	Comparing the last 20 sessions with the 20 before: bullish divergence: price made a lower low but RSI made a higher low — selling momentum was fading. Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18	MACD line vs signal	MACD 4.91 / signal -1.38	Bullish	MACD was above its signal line — momentum turning or staying positive. Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19	MACD histogram (5-day change)	8.26 → 6.29	Bearish	The histogram fell over the last five sessions, meaning momentum was weakening. Bullish histogram rising (momentum improving) · Bearish histogram falling (momentum weakening) · No neutral zone.
20	MACD vs zero line	4.91	Bullish	MACD above zero means the 12-day EMA was above the 26-day EMA — a positive momentum regime. Bullish MACD above zero · Bearish MACD below zero · No neutral zone.
21	Stochastic (14,3,3)	%K 73.5 / %D 75.5	Bearish	Slow stochastic at 73.5 was mid-range with %K below %D. Bullish between 20 and 80 with %K above %D · Bearish between 20 and 80 with %K below %D · Caution above 80 (overbought) or below 20 (oversold).
22	Williams %R (14)	-26.5	Neutral	%R of -26.5 put the close in the middle of its 14-day range. How to read: Caution above –20 (near the top) or below –80 (near the bottom). Neutral in the middle. This point is never tagged Bullish or Bearish.
23	CCI (20)	114	Bullish	CCI at 114 signalled an unusually strong upward deviation (>+100). Bullish above +100 (unusually strong upward move) · Bearish below –100 (unusually strong downward move) · Neutral within ±100.
24	Rate of change (10-day)	+1.6%	Neutral	Price changed +1.6% over ten sessions. Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.

D. Volatility

#	Point	Reading	Tag	Commentary
25	Bollinger Band position (%B)	%B 0.80 (bands 580.41–686.95)	Neutral	%B of 0.80 — inside the bands, upper half. How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26	Bollinger width / squeeze	width 16.8% (55th pct of 6M)	Neutral	Band width was at the 55th percentile of the last six months, a normal level. How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27	ATR (14)	₹24.76 (3.7% of price)	Neutral	A typical day's range was about ₹24.76, or 3.7% of the price — useful for judging how much 'normal noise' to expect. How to read: Information only. A higher % means bigger normal daily swings.
28	Historical volatility (30-day)	36.4% vs 1Y 40.0%	Neutral	Annualised 30-day volatility was 36.4%, close to the one-year level of 40.0%. How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29	Keltner Channel (20, 2×ATR)	595.52–695.03	Neutral	The close was inside the channel, so no volatility breakout. Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30	Beta vs Nifty 50 (1Y daily)	1.36	Neutral	A beta of 1.36 means the stock tended to move more than the Nifty 50 day to day. How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.

E. Volume & money flow

#	Point	Reading	Tag	Commentary
31	Volume vs 20-day average	last day 0.90× / 5-day 1.14×	Neutral	The final session traded 0.90× its 20-day average volume and the last five sessions averaged 1.14× — normal participation. How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32	Up-day vs down-day volume (20d)	ratio 3.47	Bullish	Average volume on up days was 3.47× that on down days — accumulation-leaning. Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33	On-Balance Volume (20d)	OBV rising	Bullish	OBV rose over the month while price rose — volume confirmed the price move. Bullish OBV rising · Bearish OBV falling · No neutral zone.
34	Accumulation/Distribution line	rising (20d)	Bullish	The A/D line rose, meaning closes tended to be in the upper part of daily ranges on meaningful volume. Bullish A/D line rising · Bearish A/D line falling · No neutral zone.
35	Chaikin Money Flow (20)	0.14	Bullish	CMF at +0.14 indicated net inflows. Bullish above +0.05 (net inflows) · Bearish below –0.05 (net outflows) · Neutral between –0.05 and +0.05.
36	Money Flow Index (14)	86.8	Caution	MFI, a volume-weighted RSI, was 86.8 — overbought. Bullish MFI 55–80 · Bearish MFI 20–45 · Neutral 45–55. Caution above 80 (overbought) or below 20 (oversold).
37	Liquidity (avg daily turnover)	₹89 cr/day	Neutral	About ₹89 crore changed hands per day on average over 20 sessions — liquid. How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.

F. Price levels

#	Point	Reading	Tag	Commentary
38	Support levels (S1/S2/S3)	622.49 / 597.47 / 572.38	Neutral	Nearest support (prior swing lows) sat at 622.49, 6.9% below the close, then 597.47, 572.38. How to read: Information only. Levels to watch, not good or bad.
39	Resistance levels (R1/R2/R3)	682.24 / 705.00 / 760.32	Neutral	Nearest resistance (prior swing highs) sat at 682.24, 2.5% above the close, then 705.00, 760.32. How to read: Information only.
40	Monthly pivot points (for next month)	P 641.07 \| R1 712.13 \| S1 594.63	Neutral	Classic pivots from July's high/low/close gave a pivot of 641.07; the close was above it. How to read: Information only.
41	Fibonacci retracement (6M swing)	23.6% 745 \| 38.2% 709 \| 50.0% 680 \| 61.8% 651	Neutral	Measuring the 6-month rise from 558.05 to 802.40, the close was nearest the 61.8% retracement at 651.39. How to read: Information only.
42	52-week high / low	H 802.40 / L 505.80	Neutral	The close was 17.0% below the 52-week high and 31.6% above the 52-week low. Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43	Unfilled price gaps (6M)	1 open; latest gap-down 08 Jun at 701.55	Neutral	There was 1 unfilled gap(s). The latest, a gap-down on 08 Jun 2026, left an open level at 701.55 that price had not revisited. How to read: Information only.

G. Patterns

#	Point	Reading	Tag	Commentary
44	Price structure / chart pattern	broad sideways range	Neutral	Rule-based pattern scan: broad sideways range. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.) Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45	Breakout / breakdown (20-day)	range 570.00–687.50	Neutral	The close was inside the prior 20-day range of 570.00–687.50. Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46	Latest candlestick	Doji	Neutral	On 30 Jul the candle opened 666.95, ranged 658.20–675.90 and closed 665.70: Doji — indecision. Single candles are weak signals on their own. Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47	Ichimoku Cloud	cloud 676.20–709.70; Tenkan 653.05 / Kijun 628.75	Bearish	Price was below the cloud and the Tenkan line was above the Kijun line — a bearish Ichimoku setup. Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.

H. Relative strength & summary

#	Point	Reading	Tag	Commentary
48	Relative strength vs Nifty 50	1M +7.5% / 3M -10.7%	Bearish	The stock underperformed the Nifty 50 by 10.7 points over three months and outperformed by 7.5 points over one month. Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49	Relative strength vs Nifty 50 (6M)	6M +8.5%	Bullish	No sector index in today's data set, so we show the 6-month comparison instead: 8.5 points ahead of the Nifty 50. Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50	Technical summary	20 bullish · 5 bearish · 23 neutral · 1 caution	Bullish	Across the 49 readings the technical picture leaned positive. Levels that mattered: support 622.49, resistance 682.24. This is a description of the chart on 30 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

Fundamental analysis — 50 points

Uses only results published by 30 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Jun 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 30 Jul 2026 close.

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Valuation

#	Point	Reading	Tag	Commentary
1	P/E (trailing 12 months)	76.0×	Neutral	At ₹665.70 the market valued the company at about ₹13,003 crore, or 76.0× the ₹171 crore profit of the four quarters to Mar 2026. That is a premium multiple — the market expected growth. How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2	Price / Book	2.22×	Neutral	Market cap was 2.22× the Mar 2026 book value (equity + reserves) of ₹5,859 crore. How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3	Price / Sales	4.56×	Neutral	The company was valued at 4.56× its trailing-12-month sales of ₹2,852 crore. How to read: Information only.
4	EV / EBITDA (approx.)	-1,215.6×	Neutral	Enterprise value (market cap + ₹368 cr borrowings; cash not netted) was -1215.6× trailing operating profit of ₹-11 crore. How to read: Information only. Lower means cheaper relative to operating profit.
5	Earnings yield	1.3%	Neutral	The inverse of P/E: each ₹100 invested bought about ₹1.3 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds. How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6	PEG (P/E ÷ 3-yr profit CAGR)	n/m	Neutral	PEG is not meaningful because 3-year profit growth was -4.9%. Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7	Dividend yield (trailing 12M)	1.05%	Neutral	Dividends with ex-dates in the 12 months to the snapshot totalled ₹7 a share, a 1.05% yield on the ₹665.70 price. Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8	Market capitalisation	₹13,003 cr	Neutral	At about ₹0.13 lakh crore the company was a small-cap. How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9	Graham number vs price	₹243.07 vs ₹665.70	Neutral	Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹243.07; the price was 174% above it. Quality franchises usually trade above this number. Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).

B. Growth

#	Point	Reading	Tag	Commentary
10	Revenue growth FY26 (YoY)	+11.4%	Bullish	Revenue for FY26 was ₹2,852 crore, +11.4% versus FY25. Bullish above 10% · Bearish below 0% (revenue fell) · Neutral 0–10%.
11	Q4 FY26 revenue growth (YoY)	+22.5%	Bullish	The Jan–Mar 2026 quarter brought ₹816 crore of revenue, +22.5% on the same quarter a year earlier. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
12	Net profit growth FY26 (YoY)	-62.7%	Bearish	FY26 net profit was ₹171 crore, -62.7% on FY25's ₹458 crore. Bullish above 10% · Bearish below 0% · Neutral 0–10%. Caution if a one-off item distorted the figure.
13	Q4 FY26 profit growth (YoY)	-314.3%	Bearish	Quarterly profit was ₹-105 crore versus ₹49 crore a year earlier (-314.3%). Bullish above 10% · Bearish below 0% · Neutral 0–10%.
14	Revenue CAGR (3 years)	-3.6%	Bearish	Revenue compounded at -3.6% a year from FY23 to FY26. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%. Caution if an acquisition inflated it.
15	Profit CAGR (3 years)	-4.9%	Bearish	Net profit compounded at -4.9% a year from FY23 to FY26. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
16	Revenue CAGR (5 years)	7.8%	Neutral	Over five years (FY21–FY26) revenue compounded at 7.8% a year. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
17	EPS growth FY26 (reported)	-62.1%	Bearish	Reported EPS went from ₹23.65 to ₹8.97 (-62.1%). Differences from profit growth come from changes in share count (bonus, buyback, new issues). Bullish above 10% · Bearish below 0% · Neutral 0–10%.

C. Profitability

#	Point	Reading	Tag	Commentary
18	Operating margin FY26	7%	Neutral	Operating profit (EBITDA) was 7% of sales in FY26 versus 10% in FY25. How to read: Information only — normal margins differ a lot by industry.
19	Operating margin trend (4 quarters)	6% → 6% → 7% → -17%	Bearish	Quarterly margins moved from 6% to -17% over the last four quarters — contracting. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral when broadly stable.
20	Net profit margin FY26	6.0%	Neutral	₹6.0 of every ₹100 of revenue ended up as net profit in FY26. How to read: Information only.
21	Return on equity FY26	2.9%	Bearish	FY26 profit was 2.9% of average shareholders' equity. Above ~15% is generally considered good; below 10% weak. Bullish above 18% · Bearish below 10% · Neutral 10–18%. Around 15% or more is generally considered good.
22	ROCE FY26	5%	Bearish	Return on capital employed (debt + equity) was 5% in FY26. Bullish above 20% · Bearish below 10% · Neutral 10–20%.
23	Return on assets FY26	2.26%	Neutral	Net profit was 2.26% of total assets. Bullish banks only: 1.5% or more · Bearish banks only: below 1% · Information only for non-banks.
24	Effective tax rate FY26	30%	Neutral	The company paid about 30% of pre-tax profit as tax; India's base corporate rate is ~25%. How to read: Information only. India’s base corporate rate is about 25%.
25	Other income share of pre-tax profit	66%	Caution	Non-operating 'other income' of ₹162 crore made up 66% of pre-tax profit — a large share, so core earnings were lower than headline profit. How to read: Caution above 25% (headline profit leans on non-core income). Neutral otherwise.

D. Balance sheet

#	Point	Reading	Tag	Commentary
26	Debt / equity	0.06	Bullish	Borrowings of ₹368 crore were 0.06× equity — very low leverage. Bullish below 0.3 (very low leverage) · Bearish above 1 (high leverage) · Neutral 0.3–1.
27	Debt / EBITDA	1.82×	Neutral	Debt equalled 1.82 years of FY26 operating profit. Bullish below 1× · Bearish above 3× · Neutral 1–3×.
28	Interest coverage	10.8×	Bullish	Earnings before interest and tax covered interest cost 10.8 times. Bullish above 8× · Bearish below 3× · Neutral 3–8×, or not meaningful when interest is negligible.
29	Book value growth	-0.1%	Bearish	Shareholders' equity grew -0.1% from ₹5,866 crore to ₹5,859 crore in FY26. Bullish above 10% (banks: above 12%) · Bearish below 0% (non-banks only) · Neutral otherwise.
30	Capital work in progress	₹61 cr (5% of fixed assets)	Neutral	Projects under construction (CWIP) were 5% of fixed assets — a modest pipeline. How to read: Information only. Above 20% means a big expansion pipeline that is not yet earning.
31	Working capital days	62 days	Neutral	Working capital tied up equalled 62 days of sales (FY25: 84). Negative means suppliers/customers fund operations. How to read: Information only. Lower is generally more efficient; negative means suppliers or customers fund the business.
32	Cash conversion cycle	327 days	Neutral	It took 327 days to turn inventory and receivables into cash, net of supplier credit. How to read: Information only. Shorter is generally better.
33	Debtor days	85 (FY25 67)	Caution	Customers took 85 days on average to pay, versus 67 a year earlier — a notable stretch in collections. How to read: Caution when debtor days rose more than 20% in a year (collections stretching). Neutral otherwise.

E. Cash flow

#	Point	Reading	Tag	Commentary
34	Operating cash flow FY26	₹83 cr	Neutral	The business generated ₹83 crore of operating cash in FY26 versus ₹500 crore in FY25. Bullish positive and higher than the year before · Bearish negative · Neutral when positive but lower. Information only for banks.
35	Free cash flow FY26	₹-169 cr	Bearish	After capital spending, free cash flow was ₹-169 crore. Bullish positive · Bearish negative · Neutral when not available.
36	Cash conversion (CFO ÷ net profit)	0.49×	Caution	Operating cash flow was 0.49× reported profit — cash lagged profits; worth watching. Bullish above 1× (profits well backed by cash) · Caution below 0.7×. Neutral 0.7–1×.
37	Free-cash-flow yield	-1.3%	Neutral	FY26 free cash flow was -1.3% of the snapshot market cap. Bullish above 4% · Neutral at 4% or less.
38	Free cash flow — 3-year total	₹1,570 cr	Bullish	Free cash flow over FY24–FY26 added up to ₹1,570 crore. Bullish positive total · Bearish negative total · Neutral when not available.
39	Capex FY26 (CFO – FCF)	₹252 cr	Neutral	Implied capital expenditure was about ₹252 crore, 8.8% of sales. How to read: Information only.

F. Dividends & shareholder returns

#	Point	Reading	Tag	Commentary
40	Dividend payout ratio FY26	78%	Neutral	The company paid out about 78% of FY26 profit as dividends. How to read: Information only. High payout suits mature businesses; growing firms often keep more.
41	Dividend consistency (3 years)	27% / 47% / 78%	Bullish	Payout ratios for FY24 / FY25 / FY26 — dividends were paid every year. Bullish paid every year · Neutral when irregular. Never tagged Bearish.
42	Share capital change (FY25→FY26)	+0.0%	Neutral	Paid-up equity capital changed +0.0% (₹39 cr → ₹39 cr). Essentially unchanged — no dilution. Bullish fell 1% or more (a buyback) · Caution when it rose 1% or more (new shares issued). Neutral when unchanged, or for a bonus/split.

G. Ownership

#	Point	Reading	Tag	Commentary
43	Promoter holding	65.34% (+0.00 pts YoY)	Neutral	Promoters owned 65.34% at Jun 2026 versus 65.34% a year earlier. Bearish fell more than 1 percentage point in a year · Neutral otherwise. Never tagged Bullish.
44	Foreign institutional holding	6.04% (+1.05 pts YoY)	Bullish	FIIs held 6.04% at Jun 2026, up from 4.99% a year before. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
45	Domestic institutional holding	10.23% (+0.14 pts YoY)	Neutral	Mutual funds, insurers and other DIIs held 10.23%, up from 10.09%. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
46	Number of shareholders	2.0 lakh (-13.2% YoY)	Neutral	The shareholder count moved from 2.3 lakh to 2.0 lakh in a year — a rough gauge of retail interest. How to read: Information only — a rough gauge of retail interest.
47	Promoter pledge	none reported	Neutral	Our source showed no pledged promoter shares. How to read: Information only. Any sizeable pledge is a risk to note.

H. Quality & summary

#	Point	Reading	Tag	Commentary
48	Financial health checklist (Piotroski-style, 8 tests)	4/8	Bearish	Passed: positive profit, positive operating cash flow, asset turnover improved, no meaningful dilution (<3%). Failed: CFO > net profit, leverage fell, operating margin improved, ROA improved. Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49	Automated screen flags	3 strength(s) · 3 weakness(es)	Neutral	Strengths: Company is almost debt free; Company has been maintaining a healthy dividend payout of 50.4%; Company's working capital requirements have reduced from 88.2 days to 62.4 days. Weaknesses: The company has delivered a poor sales growth of 7.81% over past five years; Company has a low return on equity of 4.12% over last 3 years; Earnings include an other income of Rs.322 Cr. (Flags generated by the data source’s rule screen.) How to read: Information only.
50	Fundamental summary	7 bullish · 11 bearish · 28 neutral · 3 caution	Bearish	On the numbers published by 30 Jul 2026 the fundamental picture leaned negative. Valuation: P/E 76.0×, P/B 2.22×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

News in the three months before the snapshot

Company news from 30 Apr 2026 – 30 Jul 2026 that an investor could have known on the snapshot date.

12 May 2026 Graphite India raises stake in GrafTech International to 9.79% — Graphite India acquired an additional 2.97% of NYSE-listed GrafTech International via secondary market purchases for about Rs 62.25 crore, lifting its stake from 6.82% to 9.79%; total investment in GrafTech is about Rs 230 crore. source
28 May 2026 Graphite India posts Q4 FY26 consolidated net loss of about Rs 104 crore despite revenue growth — For the March 2026 quarter, consolidated revenue rose about 22% year on year to Rs 816 crore, but the company reported an EBITDA loss of about Rs 140 crore and a net loss of about Rs 104 crore. Results were approved at the board meeting on 28 May 2026. source
28 May 2026 Board of Graphite India recommends final dividend — Alongside FY26 results the board recommended a final dividend; per Trendlyne the final dividend is Rs 7 per share with ex/record date 20 July 2026 (Rs 11 the previous year). source
09 Jun 2026 Graphite India fixes record date for dividend — The company fixed 20 July 2026 as the record date for the final dividend for FY26; the AGM was scheduled shortly after (announced 10 June 2026). source
24 Jul 2026 Graphite India shares rise about 5% on a weak market day; company discloses small GST order — The stock rose nearly 5% intraday to Rs 687.85 while the Sensex fell over 900 points. The company disclosed an appellate state-tax order on input tax credit with a total demand of under Rs 1 crore including interest and penalty, which it said would have no material impact and which it plans to appeal. source
29 Jul 2026 Graphite India announces board meeting date for Q1 FY27 results — The company intimated that its board would meet on 4 August 2026 to consider unaudited results for the quarter ended 30 June 2026. source

What happened next (30 Jul 2026 → 30 Oct 2026)

Price went from ₹665.70 to ₹725.85 by 30 Oct 2026 (+9.0%) while the Nifty 50 moved -5.2% — outperforming by 14.2 points.
Highest ₹874.35 on 09 Sep 2026; lowest ₹654.35 on 03 Aug 2026.
S1 622.49: held on a closing basis.
S2 597.47: held on a closing basis.
R1 682.24: cleared on a closing basis on 04 Aug 2026.
R2 705.00: cleared on a closing basis on 04 Aug 2026.
200-day SMA: price was above it at the snapshot and crossed below on 23 Oct 2026.
Apr–Jun 2026 results (reported 04 Aug 2026): revenue ₹842 crore (+26.6% YoY), net profit ₹171 crore (+28.6% YoY), operating margin 17% vs 6% a year earlier (Screener consolidated figures).

Later news

04 Aug 2026 Graphite India Q1 FY27 net profit rises about 29% to Rs 171 crore — Consolidated revenue for the June 2026 quarter rose about 27% year on year to Rs 842 crore and net profit rose to Rs 171 crore from Rs 133 crore. Operating margin was about 17% per Screener data. source
09 Sep 2026 Graphite India shares jump up to 18% after GrafTech announces 30% electrode price hike — GrafTech International announced a minimum 30% increase in graphite electrode prices for open negotiations, building on a March 2026 pricing action and a 51kt capacity cut. Graphite India shares hit a 52-week high near Rs 865 intraday; the stock closed about 15% higher on NSE. source
09 Sep 2026 Upstox: Graphite India in focus after GrafTech price hike; listed HEG entity may not benefit directly — The report notes higher electrode prices could improve realisations for Indian makers, while HEG's electrode business has been moved to a separately listed entity under its demerger. source
27 Oct 2026 Graphite India to review Q2 FY27 financial results at board meeting on November 3, 2026 — The company intimated that its board will meet on 3 November 2026 to consider results for the quarter ended 30 September 2026. source

Educational summary. On 30 Jul 2026 the technical picture leaned positive and the fundamental picture leaned negative. Over the next three months the stock moved +9.0% against -5.2% for the Nifty 50. Here the chart's message lined up with what followed. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold Graphite India today.

Method designed by our founder, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.

Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 02 Nov 2026); index — Nifty 50 via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction

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