With the Supreme Court ban on pet coke slowly lifting and demand of the product from the ends market which is the aluminum smelters expected to grow, the domestic market for CPC may see growth.
Production volumes are breathing again, thanks to lifting of ban on key raw materials. But below-par capacity utilisation remains a work in progress
Revenue during the quarter increased by 11.4 percent to Rs 139 crore year-on-year
Post recent raw material mobilization, company’s operations are in full swing. Company is sitting on sale order of 50,000 tonne and hopeful of capacity utilization of 96 percent in Q4. End market demand, particularly in aluminum industry (80 percent of sales) remains intact.
Goa Carbon said Goa plant was shut for 55 days, Bilaspur plant for 66 days and Paradeep plant for 61 days during October-December quarter.
The court verdict removes a major hurdle for the petcoke value chain catering to the aluminium industry
Net Sales at Rs 113.51 crore in September 2018 Down 24.65% from Rs. 150.65 crore in September 2017.
The company is hopeful of a positive outcome from the October 9 hearing in the Supreme Court as the petcoke is used as feedstock in the industry and not as fuel.
Consumption sectors (FMCG, durables, autos), though on a soft base, post noticeable volume growth for a consecutive quarter.
Sales realization continues to remain firm and up about ~3 percent QoQ and 15 percent in last six months.
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Revenue from operations during the quarter shot up 67.1 percent to Rs 150.6 crore from Rs 90.1 crore on year-on-year basis, the calcined petroleum coke manufacturer said in its filing.
Siyaram Silk, HEG Limited, Jindal Worldwide, Goa Carbon and VIP Industries were the stocks that hit 52-week high in the Nifty while within the BSE Index, stocks like Gillette India, Kotak Mahindra Bank, Bharat Financial, Bata India, Tata Steel, TVS Motor and TVS Electronics hit 52-week high in today's trade.
Goa Carbon posted a strong set of earnings in Q1. In an interview to CNBC-TV18, Shrinivas Dempo, Chairman of the company spoke about the results and his outlook for the company.
Margin growth, too, was solid at 11 percent in June quarter 2017 compared with 7.3 percent in corresponding quarter of last fiscal.
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Operating profit (EBITDA) of the company was up 73.7 percent at Rs 3.3 crore and EBITDA margin was at 4.3 percent.
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The company's net loss has increased to Rs 1.09 crore in the quarter ended December 2016 against loss of Rs 90 lakh in the same quarter last fiscal.