Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 224.25 | 272.43 | 178.46 | 127.80 | 119.02 | 129.46 | 132.19 | 199.25 | 102.47 | 193.58 | 201.13 | 65.70 |
| Expenses | 181.22 | 225.25 | 164.57 | 121.13 | 131.26 | 137.91 | 136.97 | 207.04 | 112.37 | 213.23 | 191.73 | 70.10 |
| Operating Profit | 43.03 | 47.18 | 13.89 | 6.67 | -12.24 | -8.45 | -4.78 | -7.79 | -9.90 | -19.65 | 9.40 | -4.40 |
| OPM % | 19.19% | 17.32% | 7.78% | 5.22% | -10.28% | -6.53% | -3.62% | -3.91% | -9.66% | -10.15% | 4.67% | -6.70% |
| Other Income | 1.88 | 3.36 | 5.48 | 3.54 | 3.50 | 2.45 | 1.88 | 1.72 | 2.77 | 6.40 | 1.49 | 4.35 |
| Interest | 5.31 | 3.71 | 5.12 | 5.31 | 4.55 | 3.65 | 4.56 | 4.94 | 6.04 | 6.84 | 5.58 | 5.83 |
| Depreciation | 0.62 | 0.63 | 0.64 | 0.70 | 0.73 | 0.75 | 0.73 | 0.77 | 0.83 | 0.83 | 0.72 | 0.70 |
| Profit before tax | 38.98 | 46.20 | 13.61 | 4.20 | -14.02 | -10.40 | -8.19 | -11.78 | -14.00 | -20.92 | 4.59 | -6.58 |
| Tax % | 25.68% | 25.13% | 31.23% | 29.05% | -27.75% | -19.71% | -20.15% | -32.51% | 52.93% | 11.66% | 2.18% | 0.00% |
| Net Profit | 28.96 | 34.59 | 9.36 | 2.98 | -10.13 | -8.34 | -6.54 | -7.95 | -21.41 | -23.37 | 4.49 | -6.58 |
| EPS in Rs | 31.65 | 37.80 | 10.23 | 3.26 | -11.07 | -9.11 | -7.15 | -8.69 | -23.40 | -25.54 | 4.91 | -7.19 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 316 | 291 | 576 | 462 | 417 | 353 | 766 | 1,364 | 1,057 | 508 | 696 | 563 |
| Expenses | 309 | 274 | 484 | 461 | 431 | 347 | 709 | 1,220 | 929 | 527 | 724 | 587 |
| Operating Profit | 7 | 17 | 92 | 1 | -15 | 6 | 57 | 144 | 128 | -19 | -28 | -25 |
| OPM % | 2.2% | 6% | 16% | 0.1% | -3.6% | 1.8% | 7% | 11% | 12% | -3.7% | -4.0% | -4.4% |
| Other Income | 6 | 9 | 9 | 2 | 2 | 1 | 3 | 13 | 14 | 11 | 12 | 15 |
| Interest | 15 | 9 | 10 | 12 | 14 | 10 | 16 | 46 | 24 | 18 | 23 | 24 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 |
| Profit before tax | -4 | 16 | 90 | -11 | -28 | -5 | 41 | 108 | 116 | -28 | -42 | -37 |
| Tax % | -32% | 40% | 40% | -31% | -2% | -2% | 8% | 25% | 26% | -22% | 15% | |
| Net Profit | -3 | 10 | 54 | -8 | -28 | -5 | 38 | 81 | 86 | -22 | -48 | -47 |
| EPS in Rs | -3.37 | 10.38 | 58.85 | -8.21 | -30.32 | -5.26 | 41.28 | 88.24 | 93.43 | -24.07 | -52.70 | -51.22 |
| Dividend Payout % | 0% | 43% | 25% | 0% | 0% | 0% | 24% | 20% | 21% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 8% | 15% | -20% | -3% | ||
| Compounded Profit Growth | % | % | % | -42% | ||
| Stock Price CAGR | 14% | 2% | -8% | -6% | ||
| Return on Equity | 11% | 14% | 2% | -26% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 65 | 62 | 71 | 116 | 98 | 70 | 67 | 105 | 177 | 238 | 208 | 159 |
| Borrowings | 156 | 205 | 159 | 196 | 0 | 4 | 31 | 240 | 422 | 334 | 281 | 167 |
| Other Liabilities | 23 | 22 | 24 | 34 | 234 | 129 | 160 | 73 | 161 | 32 | 32 | 34 |
| Total Liabilities | 252 | 298 | 263 | 355 | 342 | 212 | 267 | 427 | 769 | 613 | 531 | 370 |
| Fixed Assets | 26 | 27 | 25 | 24 | 27 | 26 | 24 | 23 | 22 | 27 | 27 | 27 |
| CWIP | 0 | 0 | 0 | 4 | 0 | 0 | 3 | 4 | 3 | 0 | 1 | 4 |
| Investments | 9 | 9 | 11 | 2 | 3 | 2 | 4 | 5 | 7 | 35 | 10 | 30 |
| Other Assets | 217 | 262 | 227 | 326 | 312 | 183 | 235 | 395 | 737 | 550 | 493 | 309 |
| Total Assets | 252 | 298 | 263 | 355 | 342 | 212 | 267 | 427 | 769 | 613 | 531 | 370 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -6 | 35 | 17 | 27 | 110 | 3 | -15 | -40 | -116 | 196 | -54 | 78 |
| Cash from Investing Activity | 100 | -67 | 11 | 2 | 61 | 15 | -9 | -140 | -20 | 99 | 80 | -8 |
| Cash from Financing Activity | -81 | 34 | -56 | 20 | -218 | -12 | 18 | 191 | 127 | -138 | -80 | -137 |
| Net Cash Flow | 13 | 1 | -27 | 49 | -47 | 6 | -7 | 11 | -9 | 158 | -53 | -68 |
| Free Cash Flow | -15 | 32 | 17 | 22 | 108 | 2 | -17 | -42 | -115 | 192 | -57 | 71 |
| CFO/OP | -239% | 387% | 116% | 61% | 18,931% | -24% | -240% | -69% | -63% | 176% | 266% | -227% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 58 | 22 | 27 | 36 | 49 | 19 | 67 | 13 | 41 | 21 | 48 | 68 |
| Inventory Days | 237 | 125 | 138 | 82 | 154 | 100 | 133 | 85 | 106 | 95 | 197 | 51 |
| Days Payable | 20 | 16 | 15 | 12 | 198 | 122 | 187 | 35 | 46 | 7 | 15 | 13 |
| Cash Conversion Cycle | 276 | 131 | 151 | 105 | 5 | -3 | 13 | 64 | 101 | 109 | 229 | 106 |
| Working Capital Days | -66 | -118 | -76 | -37 | 21 | 5 | 1 | -48 | -14 | -20 | 19 | 26 |
| ROCE % | 3% | 4% | 9% | 35% | 0% | -15% | 5% | 25% | 32% | 23% | -2% | -5% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 59.72% | 59.72% | 59.72% | 59.72% | 59.72% | 59.72% | 59.72% | 59.72% | 59.72% | 59.72% | 59.72% | 59.72% |
| FIIs | 0.00% | 0.00% | 0.13% | 0.09% | 0.10% | 0.00% | 0.01% | 0.01% | 0.00% | 0.01% | 0.03% | 0.00% |
| DIIs | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Public | 40.27% | 40.28% | 40.15% | 40.18% | 40.18% | 40.26% | 40.24% | 40.25% | 40.26% | 40.24% | 40.23% | 40.26% |
| No. of Shareholders | 29,191 | 28,133 | 28,718 | 33,860 | 32,420 | 32,588 | 32,808 | 32,265 | 31,633 | 31,098 | 30,489 | 29,776 |
Fundamentals
Market Cap₹ 373 Cr.
Current Price₹ 409
Book Value₹ 184
ROCE-4.91 %
ROE-26.0 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-3%
Compounded Profit Growth (TTM)-42%
Standalone figures.
Valuation
Market capRs 369 Cr
Enterprise valueRs 482 Cr
Price to book2.19x
Price to sales0.66x
EV / sales0.86x
Price to cash flow4.75x
Earnings yield-12.71%
P/E, 3-year average7.90x
P/B, 3-year average2.07x
P/E, 5-year average8.38x
P/B, 5-year average2.48x
Profitability
Operating margin (excl. other income)-4.01%
Operating margin (incl. other income)-2.24%
EBITDA margin-1.69%
Pre-tax margin-6.56%
Net profit margin-8.33%
Net margin, latest quarter-10.02%
ROE-24.97%
ROCE-4.48%
ROA-10.70%
ROE, 3-year average1.66%
ROCE, 3-year average5.69%
ROA, 3-year average-0.73%
ROE, 5-year average19.66%
ROCE, 5-year average14.78%
ROA, 5-year average4.44%
ROIC (approx.)-5.14%
Tax rate-14.53%
Other income / net worth7.34%
Growth
Sales growth (latest year)36.96%
Sales CAGR, 3 years-20.08%
Sales CAGR, 5 years14.57%
Sales growth QoQ-67.33%
Profit growth QoQ-246.55%
Sales growth YoY (latest quarter)-67.03%
Per share
EPS (TTM)Rs -51.22
EPS (latest year)Rs -52.70
EPS (latest quarter)Rs -7.19
EPS, 3-year averageRs 5.55
EPS, 5-year averageRs 29.24
Book value per shareRs 184.27
Sales per shareRs 615.10
Cash flow per shareRs 84.85
Free cash flow per shareRs 77.59
Dividend per share, 3-year averageRs 20.00
Dividend per share, 5-year averageRs 15.83
Dividends
Dividend payout, 3-year average21.40%
Dividend payout, 5-year average21.82%
Efficiency
Asset turnover1.88x
Fixed asset turnover25.60x
Inventory turnover7.67x
Inventory days48 days
Debtor days68 days
Debtors turnover5.40x
Creditor days13 days
Cash conversion cycle106 days
Working capital days26 days
Leverage
Total debtRs 167 Cr
Cash and bankRs 55 Cr
Net debtRs 113 Cr
Debt to equity0.99x
Interest coverage-0.52x
Owners' fund to total sources45.56%
Debt to assets45.23%
Cash flow
Cash from Operating Activity (latest year)Rs 78 Cr
Cash from Investing Activity (latest year)Rs -8 Cr
Cash from Financing Activity (latest year)Rs -137 Cr
Net Cash Flow (latest year)Rs -68 Cr
Free cash flow (latest year)Rs 71 Cr
FCFE (approx.: FCF + change in debt)Rs -43 Cr
Cash from ops / profit, 5 years0.47x
Sales to cash flow8.97x
Statement figures
Net sales (TTM)Rs 563 Cr
Net sales (latest year)Rs 696 Cr
Sales (latest quarter)Rs 66 Cr
Operating profit excl. other income (latest year)Rs -28 Cr
Operating profit (latest quarter)Rs -4 Cr
Other income (TTM)Rs 15 Cr
EBITDA (TTM)Rs -10 Cr
PBDT (TTM)Rs -34 Cr
Profit before tax (TTM)Rs -37 Cr
Tax (latest year)Rs 6 Cr
Net profit (TTM)Rs -47 Cr
Net profit (latest year)Rs -48 Cr
Net profit (latest quarter)Rs -7 Cr
Depreciation (TTM)Rs 3 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 24 Cr
Cost of goods sold (latest year)Rs 688 Cr
Total expenditure (latest year)Rs 724 Cr
Total income (latest year)Rs 709 Cr
Share capitalRs 9 Cr
ReservesRs 159 Cr
Shareholders' fundsRs 169 Cr
Total assetsRs 370 Cr
Net blockRs 27 Cr
Capital work in progressRs 4 Cr
InvestmentsRs 30 Cr
ReceivablesRs 129 Cr
InventoryRs 90 Cr
Other liabilitiesRs 34 Cr
Shares outstanding (crore)0.92
Ownership
Promoter holding59.72% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 2.19 is at the 25th percentile (median 3.05).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | GOACARBON | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -0.5% | -2.8% | +2.3 pts |
| 1 month | +9.2% | -6.8% | +16.0 pts |
| 3 months | +3.5% | -7.6% | +11.2 pts |
| 6 months | +46.3% | +0.4% | +45.9 pts |
| 1 year | -9.6% | -9.9% | +0.3 pts |
| 2 years | -49.7% | -13.6% | -36.1 pts |
| 3 years | -22.2% | +14.2% | -36.4 pts |
| 5 years | +12.2% | +27.9% | -15.7 pts |
Red flags
F-score 5 of 8| explain | Receivables outrunning sales Receivables grew 95% vs sales +37% in 2026 |
| look | Repeated losses Net loss in each of the last two years |
| look | On NSE surveillance On NSE surveillance: ASM long-term |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹66 Cr -67.0% vs Jun 2025.
Net loss ₹7 Cr.
Activity
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|---|---|---|---|
| Lloyds Metals & Energy Ltd | 107,103 | 22.5 | 27.3 % |
| NMDC Ltd | 67,697 | 9.07 | 27.6 % |
| Gujarat Mineral Development Corporation Ltd | 16,320 | 28.6 | 10.8 % |
| Gravita India Ltd | 10,679 | 27.2 | 16.2 % |
| MOIL Ltd | 4,964 | 16.4 | 12.4 % |
| Ashapura Minechem Ltd | 4,956 | 12.1 | 20.7 % |
| Orissa Minerals Development Company Ltd | 2,209 | 665 | 9.64 % |
| Petro Carbon & Chemicals Ltd | 1,087 | 43.3 | 14.1 % |
| 20 Microns Ltd | 752 | 11.0 | 17.3 % |
| NILE Ltd | 381 | 7.18 | 26.8 % |
| Asi Industries Ltd | 209 | 8.32 | 8.82 % |
| Southern Magnesium & Chemicals Ltd | 22 | 3.65 % | |
| Raw Edge Industrial Solutions Ltd | 15 | 37.0 | 1.97 % |
| Kachchh Minerals Ltd | 13 | -57.3 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2024-09-03 | Annual General Meeting/Dividend - Rs 10 Per Share | |
| 2024-01-29 | Interim Dividend - Rs 10 Per Share | |
| 2023-08-10 | Annual General Meeting/Dividend - Rs 17.50 Per Share | |
| 2022-07-20 | Annual General Meeting/Dividend - Rs 10 Per Share | |
| 2021-09-14 | Annual General Meeting | |
| 2020-09-15 | Annual General Meeting | |
| 2019-06-28 | Annual General Meeting | |
| 2018-07-09 | Annual General Meeting/Dividend- Rs 10 Per Share | |
| 2018-01-16 | Interim Dividend - Rs 5/- Per Share | |
| 2017-06-22 | Annual General Meeting/Dividend - Rs 3/- Per Share | |
| 2017-01-24 | Interim Dividend Rs 1.50/- Per Share | |
| 2016-06-29 | Annual General Meeting | |
| 2015-06-29 | Annual General Meeting/ Dividend Re 1/- Per Share | |
| 2014-08-26 | Annual General Meeting/Dividend Re.1/- Per Share | |
| 2013-06-25 | Annual General Meeting / Dividend Rs.2.50 Per Share | |
| 2012-07-20 | Annual General Meeting And Dividend Rs.4/- Per Share | |
| 2011-08-09 | Dividend-Rs.4/- Per Share | |
| 2010-07-27 | Dividend-Rs.2/- Per Share | |
| 2009-07-10 | Agm/Dividend-30% | |
| 2008-07-18 | Agm/Dividend - 30% | |
| 2007-07-20 | Dividend-Rs.1.50/- Per Sh |
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
EPS in the scrip is zero (4 trailing quarters)Long Term Additional Surveillance Measure (Long Term ASM): stage 1The Overall encumbered share in the scrip is more than 50 Percent.