What Tirupati Graphite does

Tirupati Graphite is a vertically integrated flake graphite mining and processing company headquartered in Ranchi, Jharkhand, India, with a second production base in Madagascar. The flagship operating entity, Tirupati Carbons & Chemicals Pvt Ltd (TCCPL), was formed in 2006 and runs the Rajderwa Processing Plant, which started at 3,600 TPA in 2010 and has expanded to 4,800 TPA at up to 96% graphite purity. Mining and processing in Madagascar is operated through Tirupati Resources Madagascar (wholly owned since 2012), with a UK-listed parent vehicle (LSE: TGR) formed in 2017 in partnership with Optiva Securities that finances Madagascar expansion. The company currently reports more than 5,000 TPA of installed capacity and has publicly stated expansion targets of over 20,000 TPA.

The product portfolio centers on natural flake graphite sold as a customized raw material for industrial buyers rather than a standardized commodity. Core products include flake graphite for refractories (continuous steel casting nozzles, stopper rods, ladle shrouds), battery-grade graphite for lithium-ion anodes, expandable graphite for fire retardant and intumescent applications, and graphite for lubrication, gaskets, foils, and nuclear applications. A key technical differentiator is in-house fabrication of processing equipment using proprietary designs via the company's Fabrication and R&D Center, which the company asserts meaningfully lowers CAPEX and OPEX and enables rapid customization for individual customer specifications. The company holds ISO 9001:2008 certification for its quality management system.

The commercial model is B2B direct sales to industrial customers in steel and refractories, battery and energy storage, specialty industrial (lubrication, fire retardant, sealing), and nuclear markets. Pricing is quote-based and not publicly disclosed. The company sells globally from Indian and Madagascar production bases, currently has 251-500 employees (including 110+ permanent at Rajderwa), and is led by founder-Chairman Hemant Kumar Poddar (27 years of graphite industry experience). The company reported a £5.9M loss for fiscal year ending March 2025, attributed to production challenges at its Madagascar projects.

Name

Tirupati Graphite

Legal name

Tirupati Carbons & Chemicals Pvt Ltd

Website

https://tirupatigraphite.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

251–500 employees

Short description

Tirupati Graphite is a B2B flake graphite mining and processing company that supplies customized natural graphite to industrial customers in steel, refractories, battery, nuclear, and specialty applications across India and Madagascar. It sells through direct sales with quote-based pricing and differentiates on in-house equipment fabrication and process innovation.

Ownership category

akta.pro rank

Product category

Industrial Graphite Manufacturing

NAICS

Ground or Treated Mineral and Earth Manufacturing (327992)

SIC

Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400)

akta.pro primary industry

Natural Graphite Mining & Concentrates (IMAKAFAD)

akta.pro secondary industry

Mining & Mineral Processing Facility Construction (IMAFADAE)

Keywords

• Flake graphite mining
• Graphite processing
• Industrial graphite products
• Expandable graphite
• Graphite for refractories

Headquarters

HQ city

Ranchi

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Flake Graphite Product Sales: The company generates revenue through the sale of flake graphite products to industrial customers. Products are sold in customized forms for various applications including refractories, batteries, steel making, lubrication, and nuclear industries.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Tirupati Graphite mines and processes flake graphite through its flagship Indian subsidiary TCCPL and Madagascar operations. The company operates the Rajderwa Processing Plant in Jharkhand (4,800 TPA capacity, capable of 96% purity) and supplies customized graphite products for refractories, steel making, batteries, nuclear, lubrication, and fire retardant applications.

Product overview

Tirupati Graphite is a flake graphite mining and manufacturing company operating as a single unified business focused on graphite production. The company operates across two geographic regions: India (Jharkhand) through TCCPL and Madagascar through Tirupati Resources Madagascar. The product portfolio centers on flake graphite as the core offering, supported by processing facilities including the Rajderwa Processing Plant (4,800 TPA capacity, 96% purity) and an in-house Fabrication and R&D Center. The company produces specialized graphite products for industrial applications including refractories, batteries, lubrication, fire retardants, and nuclear applications, with expandable graphite as a differentiated product line.

Differentiator

Problem solved

Functional benefit

Products and services

• Flake Graphite Naturally-occurring crystalline carbon mineral mined and processed at Tirupati's Indian and Madagascar operations. Sold to industrial manufacturers for refractories, steel making, brake linings, batteries, fuel cells, and nuclear applications.
• Graphite for Refractories Flake graphite mixed with alumina and zirconia for isostatically pressed components such as stopper rods, subentry nozzles, and ladle shrouds used in continuous steel casting. For steel manufacturers and refractory product companies.
• Graphite for Batteries and Energy Storage Natural and synthetic graphite used to construct anodes for lithium-ion and nickel-metal-hydride batteries. For battery manufacturers serving EV, grid energy storage, and consumer electronics markets.
• Expandable Graphite Graphite treated to expand over 300 times upon application of heat, used as intumescent fire retardant additive, expansive agent, and smoke suppressant in firestop systems. For fire safety and sealing product manufacturers.
• Tirupati Resources Madagascar Mining and Processing Operations Mining and processing operations in Madagascar established to source and process high-quality flake graphite, complementing the Indian operations of TCCPL. Operations expected to come live in FY 2018-19.

Quantifiable outcome

• Capacity increased from 3600 to 4800 TPA through processing innovation
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Tirupati Resources MadagascarcoreOthers · 1 January 2012In 2012, Tirupati formed Tirupati Resources Madagascar to mine and process the best quality flake graphite from Madagascar.

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• HEG Limited: HEG is one of the world's largest graphite electrode manufacturers, headquartered in India. Comparable as a major Indian graphite incumbent serving steel and industrial customers, though focused on synthetic graphite electrodes rather than natural flake.

Direct peers

• Volt Resources: Volt Resources is an Australian-listed graphite developer with the Bunyu project in Tanzania. Direct comparable as a small-cap flake graphite miner with African operations targeting battery anode customers.
• Graphite India: Graphite India is one of India's largest graphite electrode and graphite product manufacturers. Comparable to Tirupati as a major Indian-based graphite producer serving steel, refractories, and industrial customers.
• Mason Graphite: Mason Graphite is a Canadian junior developing the Lac Guéret graphite project in Quebec. Direct comparable as a small-cap natural flake graphite developer focused on battery and industrial applications.
• Talga Group: Talga Group is developing natural graphite anode products from its Vittangi project in Sweden for lithium-ion batteries. Direct comparable in natural graphite mining and downstream battery anode material production.
• Syrah Resources: Syrah Resources is a major natural flake graphite producer operating the Balama project in Mozambique, supplying battery anode and industrial markets globally. Direct overlap with Tirupati in natural graphite mining and processing for battery and industrial customers.
• Focus Graphite: Focus Graphite is a Canadian junior miner developing the Lac Knife flake graphite deposit in Quebec. Direct comparable as a small-cap natural flake graphite developer targeting battery and industrial markets.
• Nouveau Monde Graphite: Nouveau Monde is developing a natural graphite mine in Quebec, Canada, with a focus on battery-grade anode material. Direct comparable as a Western-aligned natural flake graphite producer targeting EV battery customers.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/tirupatiuk
• LinkedInlinkedin.com/company/tirupati-graphite

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tirupati Graphite