Goa Carbon’s shares surge 10% after introducing first branded product named gcarb+

The company said that gcarb+ is a high-performance carbon raiser/additive that helps meet the requirements of primary and secondary steel manufacturers and foundry industries. Additionally, the product has low sulphur content resulting in lower carbon emissions and enhanced environmental sustainability.

Goa Carbon was established in 1967 and manufactures calcined petroleum coke (CPC) and operates plants in Goa, Bilaspur, and Paradeep with a combined annual capacity of 308,000 million tonnes (MT). It serves industries like aluminum smelting, graphite electrodes, and titanium dioxide manufacturing.

Anupam Misra, executive director of Goa Carbon said the firm would also like to start offering need-based value-added services apart from supplying only CPC. “This is in line with our vision to be the total carbon solution provider to the industry,” he said.

In May 2024, the company's Goa plant received a notice from the National Green Tribunal (NGT) over an alleged environmental pollution case being filed against its Goa plant. It was alleged that the company's Goa plant is emitting toxic and impermissible effluent fumes causing air pollution.

Goa Carbon stated that its Goa plant has been consistently operating with valid consent to operate (CTO) from the Goa State Pollution Control Board (GSPCB). “Furthermore, the GSPCB has recently renewed this consent following thorough inspections of the pollution control equipment and verification of permitted emission levels. With these processes completed diligently, the management believes the plant has strong standing in this matter,” it had said.

The Tribunal has constituted a Joint Committee to visit the company and submit a report. The date of the hearing has been set as July 18, 2024.

Shares of the company have risen by nearly 51% since the beginning of the year. The stock has gained over 54% in the last one year.