Tirupati Graphite PLC (LSE:TGR) generated revenues of £1.12mln during the year to 31 March, and operating profits of £635,342.
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.
Post-period end, in September 20201, the 9,000 tonnes per year Vatomina project was commissioned and is now ramping up to full capacity.
Construction activities for a second 18,000 tonne module at Sahamamy are also underway.
Meanwhile, the company's transition to renewable energy to substantially meet its energy needs has commenced, with development of its first hydro power project at Sahamamy.
“You do not have to look far to see just how ubiquitous and important graphite has become to our everyday lives,” said chairman Shishir Poddar, outlining the potential on offer.
“Not only is it central to the green energy transition and electrification of mobility, but it is also increasingly used in the fire safety, thermal management, composites and advanced materials industries amongst many others, helping to reduce emissions, increase energy efficiency and reduce fire hazards.”
Electric vehicles were likely to be a specific area of growth in regard to graphite demand, he said.