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Goa Carbon Ltd (GOACARBON)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 509567 NSE: GOACARBON Carbon Black | Small Cap | Goa Carbon Share Price
₹363.50 -5.20 (-1.41%)
As on 14-Aug'26 16:59
Goa Carbon Ltd (GOACARBON)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 509567 NSE: GOACARBON Carbon Black | Small Cap | Goa Carbon Share Price
₹363.50 -5.20 (-1.41%)
As on 14-Aug'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹337 Cr.
Current Price
₹363.5
52-Week Low / High
₹272 / 492
TTM EPS
₹-51.2
TTM Sales
₹563 Cr.
Book Value per Share
₹177.1
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
49.6
Price to Book (P/B)
2.08
Lower than its 5-year historical median
Price to Sales (P/S)
0.60
In line with its 5-year historical median
EV/EBITDA
-47.13
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-24.98%
Underperforms industry median
Return on Capital Employed (ROCE)
-4.49%
Underperforms industry median
Return on Assets (ROA)
-10.70%
Operating Profit Margin
-4%
Net Profit Margin
-6.93%
Gross Profit Margin
-5.6%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
36.96%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
59.72%
Pledged shares (%) of Promoter's holding (%)
92.75%
Reserves
₹153 Cr.
Equity
₹9.2 Cr.
Face Value
₹10
All Time Low / High
₹8.18 / 1215.40
Check Before You Invest
Quality
Somewhat GoodValuation
UndervaluedCheck Valuation charts
Price Trend
Weak
Is Goa Carbon Ltd a good quality company?
Goa Carbon Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Goa Carbon Ltd performance compare with that of its Peers?
Revenue growth of Goa Carbon Ltd vs industry peers?
Goa Carbon Ltd revenue CAGR is 14.57%, compared to the industry median CAGR of 13.65%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Goa Carbon Ltd?
Promoters hold 59.72% of the Goa Carbon Ltd, with 92.75% of their stake pledged, indicating high pledge risk.
Stock return of Goa Carbon Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 15.4% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Goa Carbon Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 9.4% | 35.5% | 0.4% | -15.3% | 5% | 24.8% | 32.1% | 23.5% | -1.9% | -4.5% | - |
| Value Creation Index ⓘ | -0.3 | 1.5 | -1.0 | -2.1 | -0.6 | 0.8 | 1.3 | 0.7 | -1.1 | -1.3 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 291 | 576 | 462 | 417 | 353 | 766 | 1,364 | 1,057 | 508 | 696 | 563 |
| Sales YoY Gr. | - | 98% | -19.9% | -9.8% | -15.3% | 117.2% | 78.1% | -22.5% | -51.9% | 37% | - |
| Adj EPS ⓘ | 7.8 | 56.9 | -8.6 | -30.3 | -4.8 | 43.8 | 86.6 | 92.4 | -25.8 | -52.5 | -51.2 |
| YoY Gr. | - | 629.5% | -115.2% | NA | NA | NA | 97.5% | 6.7% | -127.9% | NA | - |
| BVPS (₹) ⓘ | 87.7 | 137 | 117.6 | 86.4 | 83.3 | 125.2 | 203.3 | 270.5 | 237.8 | 184.3 | 177.1 |
| Adj Net Profit ⓘ | 7.1 | 52.1 | -7.9 | -27.8 | -4.4 | 40.1 | 79.2 | 84.5 | -23.6 | -48.1 | -47 |
| Cash Flow from Ops. ⓘ | 17.4 | 26.8 | 110 | 3.5 | -15.1 | -39.9 | -116 | 196 | -53.9 | 77.7 | - |
| Debt/CF from Ops. ⓘ | 9.1 | 7.3 | 0 | 1.1 | -2.1 | -6 | -3.7 | 1.7 | -5.2 | 2.2 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 10.2% | 14.6% | -20.1% | 37% | ||||
| Adj EPS ⓘ | -223.6% | NA | -184.7% | NA | ||||
| BVPSⓘ | 8.6% | 17.2% | -3.2% | -22.5% | ||||
| Share Price | 15.2% | -1.6% | -11.2% | -21% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 9.4 | 50.6 | -6.8 | -29.8 | -5.7 | 42.1 | 52.7 | 39 | -10.2 | -24.9 | -28.3 |
| Op. Profit Mgn % ⓘ | 5.9 | 16 | 0.1 | -3.6 | 1.9 | 7.8 | 10.6 | 12.1 | -3.7 | -4 | -4.4 |
| Net Profit Mgn % ⓘ | 2.5 | 9 | -1.7 | -6.7 | -1.3 | 5.2 | 5.8 | 8 | -4.6 | -6.9 | -8.3 |
| Debt to Equity ⓘ | 2 | 1.6 | 0 | 0.1 | 0.4 | 2.1 | 2.3 | 1.4 | 1.3 | 1 | - |
| Working Cap Days ⓘ | 156 | 102 | 186 | 194 | 193 | 103 | 102 | 148 | 241 | 161 | 159 |
| Cash Conv. Cycle ⓘ | 103 | 70 | 65 | -11 | 5 | 31 | 59 | 98 | 197 | 126 | 43 |
Valuation of Goa Carbon - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 92.75 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 291 | 576 | 462 | 417 | 353 | 766 | 1,364 | 1,057 | 508 | 696 |
| Operating Expenses ⓘ + | 274 | 484 | 461 | 431 | 347 | 709 | 1,220 | 929 | 527 | 724 |
| Operating Profit ⓘ | 17 | 92 | 1 | -15 | 6 | 57 | 144 | 128 | -19 | -28 |
| Operating Profit Margin (%) | 5.9% | 16.0% | 0.1% | -3.6% | 1.8% | 7.4% | 10.6% | 12.1% | -3.7% | -4.0% |
| Other Income ⓘ + | 9 | 9 | 2 | 2 | 1 | 3 | 13 | 14 | 11 | 12 |
| Interest ⓘ | 9 | 10 | 12 | 14 | 10 | 16 | 46 | 24 | 18 | 23 |
| Depreciation ⓘ | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 |
| Profit Before Tax ⓘ | 16 | 90 | -11 | -28 | -5 | 41 | 108 | 116 | -28 | -42 |
| Tax ⓘ | 6 | 36 | -3 | -1 | -0 | 3 | 27 | 30 | -6 | 6 |
| Profit After Tax | 9 | 54 | -8 | -28 | -5 | 38 | 81 | 86 | -22 | -48 |
| PAT Margin (%) | 3.3% | 9.3% | -1.6% | -6.7% | -1.4% | 4.9% | 5.9% | 8.1% | -4.3% | -6.9% |
| Adjusted EPS (₹) | 10.4 | 58.8 | -8.2 | -30.3 | -5.3 | 41.3 | 88.2 | 93.4 | -24.1 | -52.7 |
| Dividend Payout Ratio (%) | 43.40% | 25.50% | 0% | 0% | 0% | 24.20% | 19.80% | 21.40% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 80 | 125 | 108 | 79 | 76 | 115 | 186 | 248 | 218 | 169 | |
| Debt + | 159 | 195 | 0 | 4 | 31 | 240 | 422 | 334 | 280 | 167 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 9 | 14 | 214 | 119 | 148 | 60 | 143 | 15 | 18 | 23 | |
| Others Liabilities ⓘ | 15 | 26 | 24 | 15 | 16 | 17 | 22 | 21 | 12 | 14 | |
| Total Liabilities ⓘ | 263 | 360 | 347 | 217 | 271 | 431 | 773 | 618 | 528 | 374 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 25 | 24 | 27 | 26 | 24 | 23 | 22 | 27 | 27 | 27 | |
| CWIP ⓘ | 0 | 4 | 0 | 0 | 3 | 4 | 3 | 0 | 1 | 4 | |
| Investments ⓘ | 11 | 2 | 3 | 2 | 4 | 5 | 7 | 35 | 10 | 30 | |
| Inventories | 83 | 93 | 166 | 97 | 105 | 147 | 328 | 218 | 235 | 90 | |
| Trade Receivables | 22 | 56 | 62 | 22 | 64 | 28 | 155 | 61 | 66 | 129 | |
| Cash Equivalents | 88 | 142 | 35 | 26 | 28 | 179 | 202 | 237 | 135 | 55 | |
| Others Assets ⓘ | 33 | 39 | 53 | 43 | 42 | 45 | 57 | 38 | 53 | 39 | |
| Total Assets ⓘ | 263 | 360 | 347 | 217 | 271 | 431 | 773 | 618 | 528 | 374 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 17 | 27 | 110 | 3 | -15 | -40 | -116 | 196 | -54 | 78 |
| Cash Flow From Investing Activity ⓘ + | 11 | 2 | 61 | 15 | -9 | -140 | -20 | 99 | 80 | -8 |
| Cash Flow From Financing Activity ⓘ + | -56 | 20 | -218 | -12 | 18 | 191 | 127 | -138 | -80 | -137 |
| Net Cash Flow ⓘ | -27 | 49 | -47 | 6 | -7 | 11 | -9 | 158 | -53 | -68 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 12.55 | 52.36 | -6.45 | -29.73 | -6.2 | 39.6 | 53.72 | 39.44 | -9.47 | -24.98 |
| ROCE (%) | 9.43 | 35.49 | 0.37 | -15.32 | 5 | 24.76 | 32.09 | 23.46 | -1.91 | -4.49 |
| Asset Turnover Ratio | 1.18 | 1.89 | 1.31 | 1.48 | 1.45 | 2.18 | 2.27 | 1.52 | 0.89 | 1.55 |
| PAT to CFO Conversion(x) | 1.89 | 0.5 | N/A | N/A | N/A | -1.05 | -1.43 | 2.28 | N/A | N/A |
| Working Capital Days | ||||||||||
| Receivable Days | 22.50 | 24.30 | 46.70 | 36.60 | 44.50 | 22.10 | 24.50 | 37.20 | 45.60 | 51.20 |
| Inventory Days | 93.90 | 54.90 | 102.70 | 115.50 | 104.80 | 60.10 | 63.50 | 94.30 | 162.90 | 85.20 |
| Payable Days | 16.50 | 10.30 | 105.50 | 171 | 168.80 | 60.10 | 32.60 | 34.30 | 14 | 11.90 |
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Goa Carbon Ltd FAQs
The current trading price of Goa Carbon on 14-Aug-2026 16:59 is ₹363.5.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 13-Aug-2026 the market cap of Goa Carbon stood at ₹337.4 Cr
The latest P/E ratio of Goa Carbon as of 13-Aug-2026 is 0.00.
The latest P/B ratio of Goa Carbon as of 13-Aug-2026 is 2.08.
The 52-week high of Goa Carbon is ₹492.0 and the 52-week low is ₹272.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Goa Carbon is ₹563 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Goa Carbon Ltd is a average quality company.
The key valuation ratios of Goa Carbon Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Goa Carbon Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Goa Carbon Ltd
Incorporated in 1967 as a public limited company with a paid-up capital of about Rs. 91.5 million, Goa Carbon is into the business of manufacturing and marketing Calcined Petroleum Coke.
It is a company of the Dempo Group, a reputed business house in
The calcinations plant of Goa Carbon with 75,000 tpa capacity, was set up with technical assistance from Great Lakes Carbon Corporation (USA). It has a well equipped laboratory and quality control systems and procedures.
Goa Carbon is firmly established as a leading Indian petcoke calciner. It is a regular supplier to aluminium smelters, graphite electrode and Titanium Dioxide manufacturers, as well as other users in the matallurgical and chemical industries.
In 1993, Goa Carbon became the first Indian manufacturer-exporter of petcoke, and along with its subsidiary Paradeep Carbons, exports to
The quality of Goa Carbon's product has been well accepted by the end users both in
Total Calcined Petroleum Coke manufacturing capacity of Goa Carbon is 2,40,000 tpa.
Products:
Calcined Petroleum Coke, CPC, Recarburiser, Laddle additive, Carbon raiser
Manufacturing plants:
In 1991, the company acquired a calcination unit with a capacity of 40,000 TPA of calcined petroleum coke. This unit, known as the Goa Carbon Bilaspur Plant is located at Bilaspur in Chattisgarh.
In 2001, Goa Carbon acquired another calcination unit with a capacity of 1,25,000 TPA of calcined petroleum coke. This unit, known as the Goa Carbon Paradeep Plant is located at Paradeep in Orissa.
Achievements:
Goa Carbon's plant is ISO 9001:2000 certified by Bureau Veritas. It is also 14001:2004 certified.
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