Electrodes, Graphite & Refractories: Q1 FY27 results (April-June 2026)

8 companies have declared Electrodes, Graphite & Refractories Q1 FY27 results so far, the latest on 12 Aug 2026.

Across the 8 non-financial companies with a year-ago quarter to compare, sales grew +13.1% and net profit +35.5% year on year, and the combined operating margin widened 566 bps to 17.6%.

88% of companies grew net profit; 50% beat their own profit trend and 12% fell short of it.

Updated 12 Oct 2026, 12:20 IST 8 declared 111 due in the next 3 days →

Electrodes, Graphite & Refractories Q1 FY27 scoreboard

Sales growth
+13.1%
YoY, 8 companies combined; median +15.2%
Net profit growth
+35.5%
YoY combined; median +44.6%
Operating margin
17.6%
+566 bps YoY
Grew profit
88%
0 turnarounds, 0 into loss
Vs own profit trend
50% / 12%
above / below, 38% in line
Price since results
-1.8%
median; 50% of 8 stocks up
Other-income heavy
3
25%+ of pre-tax profit from other income & one-offs

Latest Electrodes, Graphite & Refractories Q1 FY27 results 8

Vesuvius India Limited

VESUVIUS · Electrodes, Graphite & Refractories · Q1 FY27 · Standalone · Filed
M Cap
₹8,301 Cr
P/E
32.3
PEG
1.24
Since results
-11.0%
  • Operating margin contracted 120 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +2.3%+7.2% 536500524
Operating profit -4.8%+3.2% 86.784.091.0
OPM % -120 bps-64 bps 16.2%16.8%17.4%
Other income +25.0%+11.1% 10.09.08.0
Net profit -7.1%+4.5% 58.556.063.0
PAT margin % -111 bps-29 bps 10.9%11.2%12.0%
EPS (₹) -7.1%+4.7% 2.882.753.10

Quality of profit

Core 87%Other income & one-offs 13%

Pre-tax profit ₹78.7 Cr: core business ₹68.7 Cr, other income ₹10.0 Cr.

Core profit YoY: -9.6% · reported profit -7.1%

Cash & debt

Borrowings ₹14.0 Cr at Dec 2025.

Against its own trend ?

TrendActualGap
Sales₹581₹536 -7.7% below
Net profit₹59.9₹58.5 -2.3% in line
AI read of the filing Vesuvius India Q2 Net Profit Dips 7% to ₹58.5 Cr Amid Rising Material Costs Neutral
  • Q2 Revenue from operations grew 2.3% YoY to ₹535.45 cr from ₹523.53 cr.
  • Net Profit for the quarter fell to ₹58.51 cr compared to ₹63.00 cr in Q2 2025.
  • Cost of materials consumed increased significantly to ₹260.76 cr from ₹202.39 cr YoY.
Full analysis →

Esab India Limited

ESABINDIA · Electrodes, Graphite & Refractories · Q1 FY27 · Standalone · Filed
M Cap
₹8,304 Cr
P/E
—
PEG
—
Since results
-6.5%
  • Profit +37% above its own trend
  • Operating margin expanded 208 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +19.3%+6.3% 421396353
Operating profit +34.2%+25.7% 79.263.059.0
OPM % +208 bps+289 bps 18.8%15.9%16.7%
Other income +78.0%-11.0% 1.82.01.0
Net profit +37.1%+27.6% 56.144.040.9
PAT margin % +173 bps+222 bps 13.3%11.1%11.6%
EPS (₹) +37.1%+29.0% 36.4828.2926.60

Quality of profit

Core 98%Other income & one-offs 2%

Pre-tax profit ₹76.0 Cr: core business ₹74.2 Cr, other income ₹1.8 Cr.

Core profit YoY: +37.5% · reported profit +37.1%

Cash & debt

FY26 cash from operations ₹181 Cr: 87% of FY26 net profit of ₹207 Cr.

Borrowings ₹3.0 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹388₹421 +8.5% above
Net profit₹41.0₹56.1 +37.1% above
AI read of the filing ₹40 Lakh Investment for 26% Stake in 1MW Solar SPV; Q1 FY27 Results Approved Neutral
  • Investment of up to ₹40,00,000 to acquire a 26% equity stake in a new Solar SPV.
  • Procurement of 1MW solar power specifically for the Nagpur manufacturing facility.
  • The SPV will be incorporated in India by Sunsure Energy Private Limited.
Full analysis →

RHI MAGNESITA INDIA LIMITED

RHIM · Electrodes, Graphite & Refractories · Q1 FY27 · Consolidated · Filed
M Cap
₹7,622 Cr
P/E
—
PEG
—
Since results
-10.8%
  • Profit +119% above its own trend
  • Operating margin expanded 296 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +5.6%+8.8% 1,014932960
Operating profit +35.0%+58.3% 13887.0102
OPM % +296 bps+425 bps 13.6%9.3%10.6%
Other income +828.5%from loss 9.3-5311.0
Net profit +83.2%from loss 64.6-51835.3
PAT margin % +270 bps+6195 bps 6.4%-55.6%3.7%
EPS (₹) +83.0%from loss 3.13-25.091.71

Quality of profit

Core 89%Other income & one-offs 11%

Pre-tax profit ₹87.4 Cr: core business ₹78.1 Cr, other income ₹9.3 Cr.

Core profit YoY: +66.2% · reported profit +83.2%

Cash & debt

FY26 cash from operations ₹409 Cr.

Borrowings ₹448 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹1,044₹1,014 -2.8% in line
Net profit₹29.5₹64.6 +119.3% above
AI read of the filing RHIM Q1 FY27 Results: Consolidated Net Profit rises 83% YoY to ₹64.6 Cr; Revenue up 5.6% Positive
  • Consolidated Net Profit increased by 83.2% YoY to ₹64.61 Cr from ₹35.27 Cr.
  • Consolidated Revenue from Operations grew 5.6% YoY to ₹1,013.97 Cr.
  • Consolidated EPS improved to ₹3.13 from ₹1.71 in the year-ago period.
Full analysis →

Diffusion Engineers Limited

DIFFNKG · Electrodes, Graphite & Refractories · Q1 FY27 · Consolidated · Filed
M Cap
₹1,590 Cr
P/E
29.0
PEG
0.88
Since results
+10.6%
  • 43% of pre-tax profit came from other income and one-off items
  • FY26 operating cash flow was only 46% of profit
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +36.5%-22.5% 11014280.7
Operating profit +33.8%-32.6% 14.221.010.6
OPM % -26 bps-193 bps 12.9%14.8%13.1%
Other income +55.9%+185.2% 8.63.05.5
Net profit +36.0%+4.2% 16.716.012.3
PAT margin % -6 bps+388 bps 15.1%11.3%15.2%
EPS (₹) +37.1%+4.7% 4.474.273.26

Quality of profit

Core 58%Other income & one-offs 42%

Pre-tax profit ₹20.1 Cr: core business ₹11.6 Cr, other income ₹8.6 Cr.

Core profit YoY: +34.0% · reported profit +36.0%

Cash & debt

FY26 cash from operations ₹23.0 Cr: 46% of FY26 net profit of ₹50.4 Cr.

Borrowings ₹29.0 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹97.2₹110 +13.3% above
Net profit₹17.9₹16.7 -6.9% in line
AI read of the filing Diffusion Engineers Q1 FY27: Revenue Up 29.5% to ₹95 Cr; Net Profit Impacted by High Base Effect Neutral
  • Standalone Revenue from operations grew 29.5% YoY to ₹95.01 Cr from ₹73.37 Cr.
  • Net Profit after tax declined 38.4% YoY to ₹9.98 Cr, largely due to a ₹9.87 Cr reduction in Other Income.
  • Cost of materials consumed spiked 80.4% YoY to ₹62.48 Cr, though partially offset by a ₹10.79 Cr inventory build-up.
Full analysis →

ORIENT CERATECH LIMITED

ORIENTCER · Electrodes, Graphite & Refractories · Q1 FY27 · Consolidated · Filed
M Cap
₹504 Cr
P/E
19.3
PEG
1.07
Since results
+2.9%
  • Operating margin expanded 865 bps YoY
  • Core business grew faster than reported profit (core profit +176%)
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +2.2%+2.4% 10198.298.5
Operating profit +95.8%+97.8% 18.29.29.3
OPM % +865 bps+873 bps 18.1%9.4%9.5%
Other income +39.2%-72.1% 1.76.21.2
Net profit +99.2%+51.4% 8.65.74.3
PAT margin % +414 bps+275 bps 8.5%5.8%4.4%
EPS (₹) +97.2%+51.1% 0.710.470.36

Quality of profit

Core 87%Other income & one-offs 13%

Pre-tax profit ₹13.4 Cr: core business ₹11.7 Cr, other income ₹1.7 Cr.

Core profit YoY: +175.7% · reported profit +99.2%

Cash & debt

FY26 cash from operations ₹51.0 Cr: 233% of FY26 net profit of ₹21.9 Cr.

Borrowings ₹40.0 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹119₹101 -15.6% below
Net profit₹8.6₹8.6 -0.4% in line
AI read of the filing 99% YoY Profit Growth to ₹8.57 Cr; Power Division Disposal Completed Positive
  • Consolidated Net Profit rose 99% YoY to ₹8.57 Cr from ₹4.30 Cr in the previous year's quarter.
  • Profit from continuing operations surged 176% YoY to ₹10.56 Cr compared to ₹3.82 Cr.
  • UAE subsidiary (Orient Advanced Materials FZE) reported revenue of ₹15.36 Cr and a net profit of ₹0.35 Cr.
Full analysis →

Graphite India Limited

GRAPHITE · Electrodes, Graphite & Refractories · Q1 FY27 · Consolidated · Filed
M Cap
₹15,759 Cr
P/E
75.4
PEG
—
Since results
+22.3%
  • Profit +157% above its own trend
  • Operating margin expanded 1064 bps YoY
  • 45% of pre-tax profit came from other income and one-off items
  • Core business grew faster than reported profit (core profit +588%)
  • FY26 operating cash flow was only 48% of profit
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +26.6%+3.2% 842816665
Operating profit +234.9%from loss 144-13943.0
OPM % +1064 bps+3414 bps 17.1%-17.0%6.5%
Other income -35.3%+76.4% 97.055.0150
Net profit +28.6%from loss 171-105133
PAT margin % +31 bps+3318 bps 20.3%-12.9%20.0%
EPS (₹) +28.4%from loss 8.82-5.326.87

Quality of profit

Core 55%Other income & one-offs 45%

Pre-tax profit ₹214 Cr: core business ₹117 Cr, other income ₹97.0 Cr.

Core profit YoY: +588.2% · reported profit +28.6%

Cash & debt

FY26 cash from operations ₹82.0 Cr: 48% of FY26 net profit of ₹171 Cr.

Borrowings ₹367 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹784₹842 +7.3% above
Net profit₹66.5₹171 +157.1% above
AI read of the filing Rs 157 Cr Standalone PAT; Graphite India Returns to Profitability in Q1 FY27 Positive
  • Standalone Revenue from operations increased 19% YoY to Rs 765 Cr.
  • Standalone Net Profit reached Rs 157 Cr, reversing a sequential loss of Rs 69 Cr.
  • Inventory write-down reduced significantly to Rs 22 Cr from Rs 75 Cr in June 2025.
Full analysis →

HEG Limited

HEG · Electrodes, Graphite & Refractories · Q1 FY27 · Standalone · Filed
M Cap
₹4,577 Cr
P/E
13.4
PEG
—
Since results
-61.0%
  • Profit -24% below its own trend
  • Operating margin expanded 1239 bps YoY
  • 33% of pre-tax profit came from other income and one-off items
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +11.1%+12.9% 681603613
Operating profit +133.0%from loss 161-14269.2
OPM % +1239 bps+4724 bps 23.7%-23.5%11.3%
Other income +59.4%+194.3% 50.017.031.4
Net profit +52.1%from loss 110-16372.0
PAT margin % +433 bps+4311 bps 16.1%-27.0%11.7%
EPS (₹) +52.4%from loss 5.67-8.463.72

Quality of profit

Core 67%Other income & one-offs 33%

Pre-tax profit ₹152 Cr: core business ₹102 Cr, other income ₹50.0 Cr.

Core profit YoY: — · reported profit +52.1%

Cash & debt

FY26 cash from operations ₹355 Cr: 196% of FY26 net profit of ₹181 Cr.

Borrowings ₹794 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹720₹681 -5.5% below
Net profit₹144₹110 -24.0% below
AI read of the filing HEG reports Q1 FY27 Net Loss of ₹153.19 Cr; Revenue down 26% YoY to ₹503.21 Cr Negative
  • Standalone Revenue fell 26.1% YoY to ₹503.21 Cr compared to ₹680.91 Cr in Q1 FY26.
  • Reported a Net Loss of ₹153.19 Cr for the quarter vs a Net Profit of ₹109.50 Cr in the year-ago period.
  • Total Expenses of ₹808.95 Cr significantly exceeded Revenue, primarily due to high material and power costs.
Full analysis →

Raghav Productivity Enhancers Limited

RPEL · Electrodes, Graphite & Refractories · Q1 FY27 · Consolidated · Filed
M Cap
₹7,963 Cr
P/E
127.3
PEG
4.55
Since results
+40.7%
  • Profit +15% above its own trend
  • Operating margin expanded 238 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +48.7%+22.4% 86.971.058.4
Operating profit +61.7%+22.6% 25.721.015.9
OPM % +238 bps+4 bps 29.6%29.6%27.2%
Other income +21.3%— 1.00.00.8
Net profit +67.6%+30.5% 19.615.011.7
PAT margin % +254 bps+139 bps 22.5%21.1%20.0%
EPS (₹) +67.7%+29.1% 4.263.302.54

Quality of profit

Core 96%Other income & one-offs 4%

Pre-tax profit ₹24.7 Cr: core business ₹23.8 Cr, other income ₹1.0 Cr.

Core profit YoY: +69.6% · reported profit +67.6%

Cash & debt

FY26 cash from operations ₹37.0 Cr: 68% of FY26 net profit of ₹54.6 Cr.

Borrowings ₹5.0 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹75.9₹86.9 +14.5% above
Net profit₹17.1₹19.6 +14.8% above
AI read of the filing 67.6% YoY Profit Growth: RPEL Reports Strong Q1 FY27 Consolidated Results Positive
  • Consolidated revenue from operations grew 48.7% YoY to ₹86.91 cr
  • Consolidated Net Profit increased 67.6% YoY to ₹19.57 cr
  • Quarterly EPS improved significantly to ₹4.26 from ₹2.54 in the year-ago period
Full analysis →

Standouts so far

Biggest profit growth

  1. RHI MAGNESITA+83.2%
  2. Raghav Productivity+67.6%
  3. HEG+52.1%
  4. Esab India+37.1%
  5. Diffusion Engineers+36.0%

Biggest profit declines

  1. Vesuvius India-7.1%
  2. Graphite India+28.6%
  3. Diffusion Engineers+36.0%
  4. Esab India+37.1%
  5. HEG+52.1%

Best price reaction

  1. Raghav Productivity+40.7%
  2. Graphite India+22.3%
  3. Diffusion Engineers+10.6%
  4. Esab India-6.5%
  5. RHI MAGNESITA-10.8%

Worst price reaction

  1. HEG-61.0%
  2. Vesuvius India-11.0%
  3. RHI MAGNESITA-10.8%
  4. Esab India-6.5%
  5. Diffusion Engineers+10.6%

Among companies with a market cap of ₹1,000 Cr or more, so a tiny base does not top the list. Price reaction: last close against the close before the filing.

Reporting in the next three days

HCL Technologies (Mon 12 Oct), ICICI Prudential (Mon 12 Oct), RBL Bank (Mon 12 Oct), Swan Defence (Mon 12 Oct), Gujarat State (Mon 12 Oct), Swaraj Engines (Mon 12 Oct), Plastiblends India (Mon 12 Oct), UMIYA BUILDCON (Mon 12 Oct), Alkali Metals (Mon 12 Oct), Gradiente Infotainment (Mon 12 Oct), Agri-Tech (India) (Mon 12 Oct), Abhishek Integrations (Mon 12 Oct), Rudra Ecovation (Mon 12 Oct), Newtrac Foods (Mon 12 Oct), Inani Securities (Mon 12 Oct), Neil Industries (Mon 12 Oct), Adroit Industries (Mon 12 Oct), TYPHOON (Mon 12 Oct), UNIVARTS (Mon 12 Oct), VERONICAPRO (Mon 12 Oct), ICICI Prudential (Tue 13 Oct), Tata Elxsi (Tue 13 Oct), Transformers And Rectifiers (Tue 13 Oct), Anand Rathi (Tue 13 Oct) and 87 more. Full results calendar →

How to read this page

The numbers. Each card is one company's Q1 FY27 results as filed with NSE or BSE, read from the filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months). A swing between profit and loss is described in words: a percentage across it would mislead.

Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income, as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points (100 bps = 1 percentage point).

Quality of profit. Core profit is operating profit minus interest and depreciation: what the business itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more, and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net profit, since a fall in provisions can lift profit without the business growing.

Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead each company is measured against the path it was on: the same quarter last year, grown at the median of its last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales 5% or more above that, or net profit 10% or more above, is "above trend"; as far below is "below trend". It answers "was this quarter better or worse than the company's own recent run?", which consensus does not.

Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show its operating cash flow for the last financial year as a share of that year's net profit (flagged under 50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet against the one six months earlier (flagged at a 25% move). Balance sheets come with the September and March results, cash-flow statements with the March results.

Price since results. The latest close against the last close before the filing (a filing after 3:30 pm counts from the next session). It is a fact about the market's reaction, not advice.

Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150 (SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.

⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI