Expect to do Rs 500 cr revenues in FY18: Goa Carbon

Goa Carbon posted a good set of second quarter earnings in line with street expectations.

Throwing more light on the numbers and outlook going forward, Shrinivas Dempo, Chairman, Goa Carbon said in terms of volume, the capacity utilisation is at 100 percent, which is a life time high.

Second half of FY18 is expected to be good, said Dempo and expect revenue to be around Rs 500 crore for the year.

The company reported a net profit of Rs 13.8 crore in the second quarter of FY18 versus Rs 4.7 crore for the same quarter last fiscal. The revenues were up 67.1 percent at Rs 150.6 crore versus Rs 90.1 crore YoY. EBITDA came in at 25.1 crore versus Rs 6.4 crore YoY. EBITDA margins came in at 16.6 percent versus 8.1 percent YoY.

He said the raw material prices are going up but the company is trying to use different blended raw materials to help maintain operational efficiencies and EBITDA margins, said Dempo. Currently, the company uses Green Pet Coke as raw material and 50 percent of it comes from China, he said.

Sales volume for the quarter were up 39 percent at 61000 tonne, said Dempo.

For full interview, watch video