Tirupati will be London's only pure-play, vertically integrated graphite producer
- Tirupati Graphite releases financial results for transformational year
- Tirupati enhances its high-end graphene capabilities with technological advances and the appointment of a leading expert in the field
- Tirupati Graphite snaps up Mozambique strategic graphite projects from Battery Minerals
Quick facts: Tirupati Graphite PLC
Price: 100.75 GBX
Market Cap: £86.85 m
About the company
Tirupati Graphite PLC is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and India. The Company is delivering on this strategy by being fully integrated from mine to graphene. Its global multi-location operations include primary mining and processing in Madagascar, hi-tech graphite processing in India to produce specialty graphite, and a state-of-art graphene and technology R&D centre to be established in India. With strong market demand, graphite and graphene are critical sustainable materials as a result of their extensive and unique properties and applications.
How it is doing
Overall, it was a transformational year for Tirupati after it raised £6mln at IPO in December 2020 and a further £10 million in April 2021.
The company is now fully funded through to end of 2022 for its stage 1 developments across its portfolio of business units.
The key production unit during the period, Sahamamy, achieved 57% operating margins.
This brings the company’s total production capacity in Madagascar to 12,000 tonnes per year, as production is already up and running at the Sahamamy project, and keeps it on the path to reaching total production capacity of 84,000 tonnes by 2024.
Tirupati Graphite PLC (LSE:TGR), a graphite producer and graphene developer, said its gross profit rose 66% in the year to end March 2021, helped by a full year of commercial production from its Sahamamy facility in Madagascar.
Gross profit jumped to £635,342 from £381,678, the company said in a trading results statement. It plans to release its audited results for the year on or before September 17.
Insight: Tirupati enhances its high-end graphene capabilities with technological...
How big is the graphene market going to be?
Hard to tell in the long-term, but in the short-term some estimates reckon that today’s US$85mln market will be worth over US$1bn within three years.
What management says
Tirupati Graphite PLC (LSE:TGR) (LSE:TGR) Shishir Poddar, chief executive, joins Proactive London's Katie Pilbeam to explain why they have agreed to buy strategic graphite projects in Mozambique from ASX-listed Battery Minerals Ltd for A$12.5mln (£6.6mln) in a cash and shares deal.
Poddar says this deal will 'complement Madagascar' because they 'mix' and will 'mitigate our country risk' as well as the fact these are already 'advanced projects'.
Tirupati will acquire Suni Resources SA, the holder of the Mozambique portfolio of graphite assets of Battery Minerals including two world-class graphite projects: Montepuez and Balama Central.
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