Tirupati Graphite plc (LON: TGR), the specialist flake graphite company and supplier of the critical mineral for the global energy transition, has announced its Interim Results for the six months ended 30 September 2025.
On 13 March 2026, the Company issued its delayed annual report and financial statements for the year ended 31 March 2025. The publication of these financial results for the six months ended 30 September 2025 is the final step in bringing the Company’s financial reporting up to date, which we expect will now enable the suspension of trading in the Company’s shares on the LSE to be lifted shortly. It also enables the Company to complete the draft Prospectus required for closing the December 2025 Placing and the planned conversion to equity of convertible loan notes. It is, therefore, a major step in the turnaround plan for the Company since the governance and liquidity crises of 2024 and early 2025.
In the six months to 30 September 2025:
● Production totalled 2,204 MTs of flake graphite from the Group’s Vatomina project in Madagascar. Vatomina had intermittent production, due principally to adverse weather and operational issues;
● Sahamamy project operations remained suspended on a care and maintenance basis;
● Significant transfers of plant and equipment from the Sahamamy project to the Vatomina project were completed to enhance production capacity and efficiency at Vatomina;
● Funds were raised through a £4.5m issue of convertible loan notes (“2025 Series 1 CLN”) announced in May 2025 and a further £0.3 million of convertible loan notes (“2025 Series 2 CLN”) subscribed in September 2025.
On 10 December 2025 the Company announced details of a new fundraising and financial re-structuring of the Group, as well as updates on operational and corporate matters. On 6 January 2026, the Company announced the results of the related general meeting of shareholders to approve certain steps in the re-financing.
Mark Rollins, Executive Chairman of Tirupati Graphite, commented:
“The publication of these interim financial statements brings the Company’s reporting obligations into full compliance for the first time since July 2024. This brings to a close the issues created by the need to re-build our accounting systems after the previous CEO withheld systems access following his termination as CEO in February 2025. With the fundraising in December 2025 now able to complete, as soon as the Prospectus is approved, and mining operations ready to resume, the Company can now focus on building shareholder value through exploitation of our significant graphite resources.”
