Business
Final Results FY23
Final Results FY23.
About this update from Total Graphite Plc
[{"type":"text","content":"\n\n03 August 2023\nTirupati Graphite plc\n('Tirupati', 'TG' or the 'Company')\n \nFinal Results FY23\n \nTirupati Graphite plc, the specialist graphite producer and developer of sustainable new age materials, is pleased to announce its Audited Final Results for the year ended 31 March 2023 (FY23). A copy of the Annual Report and Accounts will be available shortly on the Company's website, www.tirupatigraphite.co.uk.\n \nOperational and Development Highlights FY23\n● Achieved key milestone at Madagascan graphite projects:\no Completed and commissioned 18,000tpa Sahamamy plant;\no Upgraded Vatomina's capacity to 12,000tpa.\n● Achieved production and first sale of 97% purity flake graphite.\n● Took various measures to mitigate the risks of severe weather conditions, stabilise operations and reduce both costs in H2 FY23 and carbon emissions per unit of production:\no Divided processing flow sheet into two parts, shifting the first leg of processing, which removes c.90% of impurities from the ore to the mine pit heads.\n● Undertook extensive market development activities resulting in an increase of the number of customers supplied across geographies.\n● Improved gross profits and operating margins, setting the base to achieve profitability at corporate level.\n \nSummary of the operating results for the year are as detailed in table below:\n \n\n\n\n\nParticulars\n\n\nUnits\n\n\nFY23\n\n\nFY22\n\n\nYoY Change\n\n\n\n\nTotal Production\n\n\nMetric Tons (MT)\n\n\n4,770\n\n\n2,996\n\n\n+59%\n\n\n\n\nMining & Processing costs\n\n\n£\n\n\n1,512,563\n\n\n935,604\n\n\n+62%\n\n\n\n\nHuman Resources costs\n\n\n£\n\n\n326,783\n\n\n378,671\n\n\n-14%\n\n\n\n\nLogistics utilities & plant admin costs\n\n\n£\n\n\n368,061\n\n\n308,278\n\n\n+19%\n\n\n\n\n(Increase) / Decrease in inventory\n\n\n£\n\n\n(676,058)\n\n\n(485,357)\n\n\n+39%\n\n\n\n\nTotal Costs of Production (Excl. Depreciation)\n\n\n£\n\n\n1,531,349 \n\n\n1,137,196\n\n\n+35%\n\n\n\n\nCost per MT of Production\n\n\n£\n\n\n321\n\n\n380\n\n\n-15%\n\n\n\n\nTotal Sales Volume\n\n\nMT\n\n\n3,982\n\n\n2,663\n\n\n+50%\n\n\n\n\nTotal Revenues\n\n\n£\n\n\n2,890,010\n\n\n1,645,308\n\n\n+76%\n\n\n\n\nAverag...