Goa carbon Limited announced its unaudited financial results for the quarter ended December 31, 2025, revealing a significant widening of losses despite strong revenue performance. The calcined petroleum coke manufacturer reported a net loss of ₹23.37 crores for Q3 FY26, substantially higher than the ₹8.34 crores loss recorded in the corresponding quarter of the previous fiscal year.

Financial Performance Overview

The company's quarterly performance showed mixed results, with revenue growth offset by operational challenges and increased costs.

Operational Challenges Impact Results

The company's operations were significantly affected by scheduled maintenance activities during the quarter. Both major manufacturing facilities underwent extended shutdowns to optimize operations, with the Goa plant remaining closed for 49 days and the Bilaspur plant for 92 days during Q3 FY26.

Despite these operational disruptions, the company achieved substantial revenue growth of 49.5%, with total income reaching ₹199.98 crores compared to ₹131.92 crores in the previous year quarter. Sale of products increased to ₹193.44 crores from ₹129.42 crores, demonstrating strong market demand for the company's calcined petroleum coke products.

Cost Structure and Expenses

The company faced significant cost pressures during the quarter, with total expenses rising to ₹220.90 crores from ₹142.31 crores in Q3 FY25. Key expense components included:

• Cost of materials consumed: ₹203.60 crores (vs ₹135.66 crores in Q3 FY25)
• Finance costs: ₹6.84 crores (vs ₹3.65 crores in Q3 FY25)
• Employee benefits expense: ₹6.08 crores (vs ₹5.50 crores in Q3 FY25)
• Other expenses: ₹15.76 crores (vs ₹19.12 crores in Q3 FY25)

Nine-Month Performance

For the nine-month period ending December 31, 2025, Goa Carbon's financial performance showed continued challenges:

Regulatory and Tax Developments

The company resolved several pending income tax matters during the quarter, receiving refunds of ₹7.58 crores along with interest of ₹4.64 crores. However, it also created a provision of ₹2.47 crores against receivable balances for assessment year 1994-95. Additionally, the company continues to deal with Goa Green Cess matters, having deposited ₹3.49 crores under protest as directed by the Supreme Court.

Labour Code Impact

The implementation of new Labour Codes resulted in an incremental impact of ₹0.38 crores during the quarter, primarily due to changes in wage definitions. The company continues to monitor developments in Central and State Rules related to these codes.

Goa Carbon operates exclusively in the manufacture and sale of calcined petroleum coke, with no subsidiary, associate, or joint venture companies as of December 31, 2025.

Goa Carbon Limited has announced a board meeting scheduled for January 21, 2026, to review and approve its unaudited financial results for the quarter ended December 31, 2025. The company has issued formal notice to both BSE and NSE regarding this important corporate development.

Board Meeting Details

The meeting particulars have been structured as follows:

Regulatory Compliance

The board meeting notice has been submitted in accordance with Regulation 29 of the Securities and Exchange Board of India (Listing Regulations and Disclosure Requirements) Regulation 2015. This regulation mandates listed companies to inform stock exchanges about board meetings where financial results will be considered.

Company Secretary Pravin Satardekar has signed and submitted the formal intimation to both major stock exchanges. The notice was digitally signed on January 12, 2026, ensuring proper documentation and compliance with regulatory requirements.

Company Information

Goa Carbon Limited operates with its registered and corporate office located at Dempo House, Campal, Panjim, Goa. The company maintains manufacturing facilities across multiple locations including Goa, Paradeep, and Bilaspur, demonstrating its pan-India operational presence.

The company holds ISO 9001:2015 and ISO 14001:2015 certifications from Bureau Veritas, indicating its commitment to quality management and environmental standards. These certifications reflect the company's adherence to international standards in its manufacturing processes.

Stock Exchange Listing

Goa Carbon Limited trades on both BSE and NSE with the following identifiers:

The upcoming board meeting represents a routine quarterly disclosure requirement, allowing investors and stakeholders to assess the company's financial performance for the third quarter of fiscal year 2026. The results will provide insights into the company's operational efficiency and market position during this period.