Share price of one of the oldest and leading manufacturers of calcined petroleum coke (CPC) surged 11.05 percent on BSE to Rs. 872.25 on Thursday, following the launch of its first branded product that offers high-quality, sustainable carbon solutions for the steel and foundry sectors.
At 01:51 p.m., Goa Carbon Ltd.’s shares were trading in the green at Rs. 848.25, up by 8 percent from its previous closing price of Rs. 785.4, having a market capitalisation of Rs. 776.24 crores.
According to Goa Carbon’s latest regulatory filings with the stock exchanges, the company launched its first branded product, “gcarb+,” with the goal of revolutionising the markets for recarburisers and carbon additives.
A recarburiser, also known as a carbon additive or carbon raiser, is a product used to increase the carbon content in molten steel. It is commonly used in steel-making and casting processes to enhance the quality of the finished steel by adding carbon elements.
“gcarb+” is derived from the finest raw materials sourced worldwide, and comes with guaranteed specifications, including low sulphur content, significantly reducing harmful emissions and promoting environmental sustainability.
In terms of financials, the company reported a decline in the revenue from operations by 43.5 percent YoY, from Rs. 315.8 crore in Q4 FY22-23 to Rs. 178.24 crore in Q4 FY23-24, but the after-tax profit grew by 77.3 percent from Rs. 5.3 crore to Rs. 9.4 crore, during the same period.
As per the shareholding pattern of March 2024, the Promoters hold a 59.72 percent stake in the company, Foreign Institutional Investors (FII) hold a 0.13 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 40.13 percent and 0.02 percent stake in Goa Carbon, respectively.
The stock has delivered positive returns of nearly 50.5 percent in one year, and around 47.2 percent of returns year-to-date.
Established in 1967, Goa Carbon Limited manufactures Calcined Petroleum Coke (CPC) and operates plants in Goa, Bilaspur, and Paradeep with a combined annual capacity of 3.08 lakh MT.
The company serves industries like aluminium smelting, graphite electrodes, and titanium dioxide manufacturing, and is known for its expertise in green coke blending.
Written by Shivani Singh
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