GE Major Graphite India resumes its Operations Partially

As per the latest updates, GE major, Graphite India Ltd has started partial manufacturing operations at its graphite electrode plant in Satpur, Nashik, Maharashtra engaging minimum labour / manpower, after obtaining requisite permission from the Government authorities. The Company is taking adequate measures to protect its employees / labourers.

The company had shut down its operations in the last week of March 2020 after the Indian government announced 21 days lockdown amid COVID-19 outbreak in the country. While the company's notification mentions about resumption of partial operations at its Nashik plant, nothing has been mentioned about works at its another manufacturing facility at Durgapur plant, West Bengal.

Kolkata-headquartered Graphite India is one of the largest Indian producer of graphite electrodes and one of the largest globally, by total capacity. Its manufacturing capacity of 98,000 tonnes per annum is spread over two plants in India at Durgapur and Nashik (combined capacity of 80,000 tonne) and one plant in Nurnberg in Germany (18,000 tonne).

Amid the increased supply from China and tepid domestic demand, Graphite India reported a consolidated net loss of Rs 353 crore in Q3 December 2019 compared with net profit of Rs 764 crore in Q3 December 2018. Net sales dropped 65.34% to Rs 643 crore in Q3 December 2019 over Q3 December 2018.

Graphite India's Notification on resumption of operations