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Goa Carbon: Is it a turnaround candidate?

The recent monthly production data of Goa Carbon indicates a pricing improvement for CPC (calcined petroleum coke)

January 29, 2021 / 10:14 AM IST
Goa Carbon: Is it a turnaround candidate?

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - Decline in sales though margins improved partially aided by better spreads - Monthly data indicates a ramp-up in utilisation and realisation - GPC import quota fairly covers requirement though additional approvals for peers can be negative - Valuation reasonable; sharp improvement in spreads can help re-rate Goa Carbon (CMP: Rs 256, Mkt Cap: Rs 234 crore), the second largest manufacturer of CPC (calcined petroleum coke) in India, posted another weak quarter because of sub par utilisation levels. However, the monthly production updates and the commentary from...

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