Goa Carbon zooms to new high and UC

Goa Carbon is clearly the star on the bourses today. The stock hit a new high today at Rs.99.75, a 20% jump up and thus breached the upper circuit.

The stock is celebrating the record production numbers that it announced for the month of May. It reported production of 19,976.600 MT (million tonnes) of Calcined Petroleum Coke v/s 8268 MT in April.

Of the total production achieved for the month, Bilaspur plant produced 2,164.100 MT v/s NIL (MoM), Goa plant produced 6,221.500 MT v/s 1896 MT and Paradeep plant has produced 11,591.000 MT v/s 6372.

May sales too was a record - at 13,860 MT v/s 5,161 MT (MoM).

This bodes well for the current Q1. It had as such had a good running in FY16 - a consolidated whopping 67% rise in net sales at Rs.315 crore while net loss reduced from Rs.9 crore to Rs.3 crore.

It had ended Q4FY16 with a small net profit of Rs.41 lakh compared to loss of Rs.90 lakh in Q3. This was thanks to the 27% (QoQ) drop in total costs though net sales were down 25% at Rs.67 crore.