Goa Carbon share price jumps nearly 10% after resuming operations at Bilaspur plant

Goa Carbon share price: Shares of calcined petroleum coke (CPC) manufacturer Goa Carbon Ltd jumped nearly 10% on Thursday after the company resumed operations at its Bilaspur unit.

In the early trade, the stock rose as much as 9.7% to ₹763.7 per share on the National Stock Exchange (NSE). At 9:37 a.m., it was trading at ₹744.5, up 6.95%.

In an exchange filing on Wednesday, the company informed that operations at the Bilaspur plant, situated at 34-40, Sector B, Sirgitti Industrial Area in Chhattisgarh's Bilaspur, have resumed.

"The Kiln has been lit up, and the production has been normalised," it said.

The Bilaspur unit is among the three plants that the company operates, along with a unit in Goa and another in Odisha's Paradeep. Bilaspur Plant is also the smallest in capacity, with 40,000 tonnes per annum (TPA) of CPC.

Goa and Paradeep plants have a capacity of 1,00,000 TPA and 1,68,000 TPA, respectively.

On December 25, the company shut its Goa unit at St Jose de Areal, Salcete, for maintenance work.

The supplies CPC to aluminium smelters, titanium dioxide and graphite electrode manufacturers, and other users in the metallurgical and chemical industries.

In the second quarter of the financial year 2024-25, Goa Carbon posted a 46.9% decline in its income from operations to ₹119.01 crore. In the year-ago period, it was ₹223.25 crore.

The company posted a net loss of ₹10.12 crore in the latest September quarter, compared to ₹28.96 crore profit in the corresponding period last fiscal.

Shares of Goa Carbon have spiked 9.75% in the past month, while it has gained 8.47% year-to-date. In the one-year period, it rose 30.25%.