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Tirupati Graphite Plc ( (GB:TGR) ) has shared an announcement.
Tirupati Graphite has released its delayed audited annual results for the year to 31 March 2025, reporting a sharp 69% drop in flake graphite production to 2,169 metric tonnes, all from its Vatomina mine in Madagascar, amid intermittent operations, equipment failures, ore quality issues and severe weather. Group revenues fell to £1.6 million, operating losses widened to £5.2 million and high unit costs drove negative margins, while the Sahamamy project remained on care and maintenance and the company’s London Stock Exchange listing stays suspended pending imminent filing of its September 2025 interim report.
Chairman Mark Rollins said turnaround measures launched in 2025, including relocating facilities from Sahamamy to Vatomina, expanding the mining fleet, upgrading processing infrastructure, improving HSE and governance, and settling problematic prepayment liabilities, have stabilised the business and are aimed at restoring profitable production and cash generation. Tirupati has completed and committed to further convertible loan note financings and an equity placing to strengthen its balance sheet, expects to publish a prospectus with an updated resource report, and anticipates restoration of LSE trading as it seeks to capitalise on strong demand for non-Chinese graphite and re-evaluate development of its Sahamamy and Mozambique assets.
More about Tirupati Graphite Plc
Tirupati Graphite plc is a specialist flake graphite producer supplying a critical mineral used in the global energy transition, particularly for battery and industrial applications. The company operates primary mining and processing projects in Madagascar at Vatomina and Sahamamy and also holds substantial graphite resource concessions in Mozambique, targeting markets seeking non-Chinese graphite supply.
Technical Sentiment Signal: Sell
Current Market Cap: £8.09M
Learn more about TGR stock on TipRanks’ Stock Analysis page.