Goa Carbon Limited has released its audited standalone financial results for the quarter and financial year ended March 31, 2026, approved by the Board of Directors at a meeting held on May 7, 2026. The company reported total income of ₹70,879.78 lacs for the year, a significant rise from ₹51,983.57 lacs in the previous year. However, despite the improvement in revenue, the firm recorded a net loss of ₹4,823.46 lacs for FY26, widening from the loss of ₹2,202.63 lacs in FY25. The statutory auditors, M/s. B S R & Co. LLP, issued an audit report with an unmodified opinion in respect of the audited financial results.

Financial Performance

The company's revenue from operations rose sharply, with sale of products (net) increasing to ₹69,609.40 lacs from ₹50,801.18 lacs in the prior year. Total expenses for FY26 stood at ₹75,091.39 lacs, compared to ₹54,823.90 lacs in FY25, driven primarily by higher cost of materials consumed at ₹64,161.42 lacs versus ₹45,638.94 lacs previously. Finance costs also increased to ₹2,338.73 lacs from ₹1,806.44 lacs. For the quarter ended March 31, 2026, the company reported a net profit of ₹449.31 lacs, though this was insufficient to offset losses from earlier quarters. The basic and diluted earnings per share (EPS) for the full year stood at (₹52.71), compared to (₹24.07) in FY25.

The following table summarises the key financial results:

Balance Sheet and Cash Flows

As at March 31, 2026, the company's total assets stood at ₹37,011.07 lacs, compared to ₹53,107.10 lacs in the previous year. Total equity declined to ₹16,862.97 lacs from ₹21,761.06 lacs, reflecting the impact of the annual loss. Current borrowings reduced significantly to ₹16,740.25 lacs from ₹28,136.33 lacs, while inventories fell sharply to ₹8,974.77 lacs from ₹23,531.19 lacs. On the cash flow front, net cash flow from operating activities was ₹7,764.87 lacs for the year ended March 31, 2026, compared to a cash outflow of ₹5,392.89 lacs in the prior year, aided by a significant reduction in inventories. Cash and cash equivalents at the end of the year stood at ₹3,951.83 lacs, down from ₹10,741.01 lacs at the beginning of the year.

Board Decisions and Auditor Appointments

In view of the net loss for the financial year ended March 31, 2026, the Board of Directors decided not to recommend any final dividend. Based on the Audit Committee's recommendations, the Board approved the appointment of M/s. Kirtane & Pandit LLP, Chartered Accountants (Firm Registration No. 105215W/W100057), as Internal Auditors for FY 2026-27. Kirtane & Pandit LLP is a 70+ year-old accounting, auditing, and consulting firm with a national presence, offering assurance, accounting, and advisory services to listed companies across diverse industries. The Board also approved the appointment of M/s. Joshi Apte and Associates (Firm Registration No. 000240) as Cost Auditors for FY 2026-27. The firm is a peer-reviewed practice registered with the Institute of Cost Accountants of India (ICMAI), with over 17 years of experience in cost audits and cost-related advisory services for companies across various industries. Both appointments are effective from May 7, 2026.

Operational and Regulatory Updates

The company's plants underwent scheduled maintenance shutdowns during the quarter ended March 31, 2026. The Goa plant was shut for 82 days, the Bilaspur plant for 90 days, and the Paradeep plant for 10 days. Regarding the Goa Green Cess matter, following the dismissal of the company's writ petition by the Bombay High Court at Goa on September 14, 2023, the company filed a Special Leave Petition before the Supreme Court on November 11, 2023, challenging the constitutional validity of the levy. In accordance with Supreme Court directives, the company has deposited ₹349 lacs under protest from FY 2014-15 to FY 2024-25, representing 50% of the total demand raised for the said period. The company continues to voluntarily file monthly returns and deposit 50% of self-assessed cess under protest, and does not expect any material financial impact from this matter.

Goa Carbon Limited has announced a postal ballot process seeking shareholder approval for material related party transactions, specifically involving borrowing from directors and promoters to meet additional working capital requirements. The company has dispatched the postal ballot notice through electronic mode to eligible shareholders as on the cut-off date of 24 April 2026.

The resolution being put to vote is an ordinary resolution for the approval and amendment of material related party transactions. The e-voting facility will be conducted through remote e-voting, with MUFG Intime India Private Limited appointed as the agency providing the facility.

The e-voting period will commence at 9:00 a.m. IST on Wednesday, 6 May 2026 and conclude at 5:00 p.m. IST on Friday, 5 June 2026. The facility will be disabled immediately after the conclusion time. Shareholders holding shares in physical mode can register their email addresses through the RTA's website, while those with demat holdings must update their email addresses with their respective depository participants.

The Board of Directors has appointed Mr. Shivaram Bhat, Practising Company Secretary (ACS 10454, CP 7853), as the Scrutinizer to oversee the e-voting process. The results of the postal ballot will be announced within two working days from the conclusion of the e-voting period and will be communicated to BSE Limited and National Stock Exchange of India Limited. The results will also be uploaded on the company's website and the RTA's website, besides being displayed at the registered office.

The postal ballot notice and explanatory statement are available on the company's website at www.goacarbon.com , the RTA's website at www.in.mpms.mufg.com , and on the websites of BSE Limited and National Stock Exchange of India Limited. Members with queries may refer to the FAQs and e-voting manual available at https://instavote.linkintime.co.in or contact the RTA via email at enotices@in.mpms.mufg.com or telephone at 022-4918 6000.