The shares of India’s second-largest producer of Calcined Petroleum Coke jumped 5.3 percent to Rs 565 a share after the company promoter released a 55.39 percent pledge stake.
At 3:25 p.m., On the National Stock Exchange, Goa Carbon Ltd shares were trading at Rs 545 a share, up 1.5 percent from the previous close price. The company has a market capitalization of Rs 501 crore.
According to the company’s exchange filing, V.S Dempo Holdings Private Ltd, a promoter group company, has released the pledge of 50,69,040 equity shares or 55.39 percent. For a worth value of Rs 270 crores at a market value of Rs 534.45 per share on 05.10.2023.
The company’s revenue climbed by 86 percent year on year, rising from Rs 205 crore in Q1FY23 to Rs 382 crore in Q1FY24. Within the same time period, net profit decreased by 14 percent from Rs 14 crore to Rs 12 crore.
The Company’s return on equity increased from 32.96 percent in FY22 to 43.40 percent in FY23, while the return on capital employed rose from 45.34 percent to 78.62 percent during the same period.
In the recent fiscal year, the company reported a Net profit margin of 5.91 percent and an operating profit of 11.32 percent.
The company shares have delivered a return of 25 percent in six months and 27 percent in a year.
As per the latest shareholding pattern, the promoters hold 59.72 percent of the company, and retail investors hold 40.26 percent.
Goa Carbon Limited is in the business of manufacturing and marketing Calcined Petroleum Coke. The company’s product range includes Calcined Petroleum Coke, CPC, Recarburiser, Laddle additive, and carbon raiser.
Written by Omkar Chitnis
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