Goa Carbon Limited (GOACARBON) AI Stock Analysis

Goa Carbon Limited

(NSE:GOACARBON)

Select Model

Rating:49Neutral

Price Target:INR 393.00▼(-3.37% Downside)

Action:reiterated

Date:09/10/26

The score is held down primarily by weak current profitability and cyclical financial results despite FY2026’s revenue rebound. Improving leverage and a return to positive operating/free cash flow support the score, while the technical uptrend is tempered by clearly overbought momentum signals and valuation is constrained by a negative P/E.

Positive Factors

Revenue reboundThe FY2026 revenue rebound shows that demand and operating scale can recover materially after a weak period. For a CPC supplier serving aluminum and steel applications, renewed top-line activity can support better capacity utilization and provide a base for future earnings recovery if margins stabilize.

Negative Factors

Deepening lossesDeeper losses during a year of strong revenue recovery indicate that higher sales have not yet translated into dependable earnings. Continued negative profitability can weaken equity, restrict reinvestment, and reduce the company’s ability to benefit from demand recovery unless operating economics improve.

Goa Carbon Limited (GOACARBON) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 3.71B
Dividend Yield: ―
Average Volume (3M): 4,828
Price to Earnings (P/E): -7.9
Beta (1Y): 1.68
Revenue Growth: -2.94%
EPS Growth: -42.18%
Country: India
Employees: 195
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

Goa Carbon Limited Business Overview & Revenue Model

Company Description

Headquartered in Panaji, India, Goa Carbon Limited is an Indian enterprise specializing in the production and distribution of calcined petroleum coke. Since its incorporation in 1967, the company has primarily served industries such as aluminum smelt...

Goa Carbon Limited Financial Statement Overview

Summary

Performance is highly cyclical and has recently weakened: FY2025 returned to losses and FY2026 losses deepened despite a strong revenue rebound. Balance sheet risk has improved with sharply lower debt and debt now roughly in line with equity, and FY2026 operating/free cash flow turned strongly positive, but profitability remains negative and cash flow durability is not yet proven.

Income Statement

34Negative

Balance Sheet

52Neutral

Cash Flow

48Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	5.63B	6.96B	5.08B	10.57B	13.64B	7.66B
Gross Profit	285.77M	292.98M	747.24M	2.08B	2.31B	1.37B
EBITDA	-95.53M	-155.75M	-35.57M	1.33B	1.57B	494.18M
Net Income	-468.66M	-482.35M	-220.26M	855.02M	807.52M	377.79M
Balance Sheet
Total Assets	0	3.70B	5.31B	6.13B	7.69B	4.27B
Cash, Cash Equivalents and Short-Term Investments	755.95M	755.95M	1.07B	1.88B	25.74M	113.03M
Total Debt	0	1.67B	2.81B	3.34B	4.22B	2.40B
Total Liabilities	-1.69B	2.01B	3.13B	3.66B	5.83B	3.12B
Stockholders Equity	1.69B	1.69B	2.18B	2.48B	1.86B	1.15B
Cash Flow
Free Cash Flow	-352.34M	528.77M	-571.57M	1.92B	363.23M	-415.71M
Operating Cash Flow	-297.20M	590.67M	-539.29M	1.96B	-1.16B	-399.00M
Investing Cash Flow	-164.88M	-129.98M	802.74M	994.71M	-197.14M	-1.40B
Financing Cash Flow	982.97M	-1.14B	-795.33M	-1.38B	1.27B	1.91B

Goa Carbon Limited Technical Analysis

Technical Analysis SentimentNeutral

Last Price406.70

Price Trends

50DMA391.16Positive

100DMA388.60Positive

200DMA377.32Positive

Market Momentum

MACD0.82Positive

RSI48.05Neutral

STOCH75.04Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GOACARBON, the sentiment is Neutral. The current price of 406.70 is above the 20-day moving average (MA) of 401.67, above the 50-day MA of 391.16, and above the 200-day MA of 377.32, indicating a neutral trend. The MACD of 0.82 indicates Positive momentum. The RSI at 48.05 is Neutral, neither overbought nor oversold. The STOCH value of 75.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:GOACARBON.

Goa Carbon Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:GOACARBON against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:KOTHARIPET	84Outperform	INR 6.42B	9.19	―	1.78%	-7.71%	12.35%
IN:HSCL	63Neutral	INR 257.16B	30.67	―	0.15%	25.31%	27.78%
IN:NOCIL	62Neutral	INR 22.92B	35.23	―	1.07%	12.29%	23.76%
IN:BAJAJELEC	60Neutral	INR 30.93B	-113.41	―	1.12%	-4.73%	-126.31%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:TINNARUBR	52Neutral	INR 14.28B	21.61	―	0.40%	21.39%	48.92%
IN:GOACARBON	49Neutral	INR 3.61B	-7.90	―	―	-2.94%	-42.18%

* General Sector Average

Performance Comparison

IN:GOACARBON and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:GOACARBON	Goa Carbon Limited	406.70	-27.15	-6.26%
IN:BAJAJELEC	Bajaj Electricals Limited	267.65	-233.09	-46.55%
IN:HSCL	Himadri Speciality Chemical Ltd.	520.35	58.38	12.64%
IN:KOTHARIPET	Kothari Petrochemicals Ltd.	112.45	-32.06	-22.19%
IN:NOCIL	NOCIL Limited	140.45	-38.78	-21.64%
IN:TINNARUBR	Tinna Rubber & Infrastructure Limited	804.90	-140.90	-14.90%

Goa Carbon Limited Corporate Events

Goa Carbon Confirms SEBI-Compliant Share Dematerialisation for Q2 FY27

Oct 7, 2026

Goa Carbon Limited has reported that it obtained a confirmation certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30 September 2026. The certificate, issued by its registrar and sha...

Goa Carbon Restarts Operations at Bilaspur Calcined Coke Plant

Oct 3, 2026

Goa Carbon Limited has announced that operations at its Bilaspur unit in the Sirgitti Industrial Area, Bilaspur, Chhattisgarh, have resumed after a period of shutdown. The kiln at the plant was lit on October 3, 2026, and following initial heating an...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 10, 2026

Goa Carbon Limited AI Stock Analysis