The Board of Directors of Goa Carbon Ltd. (GCL) today approved the audited results for the fourth quarter and full year ended March 31, 2011. A Dempo group company, GCL is the second largest manufacturer of Calcined Petroleum Coke (CPC) in the country.
The company witnessed a 91.16 percent rise in its sales turnover which stood at Rs 10454.56 lakh for the fourth quarter ended March 31, 2011 as compared to Rs 5469.01 lakh recorded in the corresponding quarter of the previous year. Net profit increased to Rs 197.76 lakhs for Q4 FY11 compared to Rs. 162.27 lakhs for the corresponding quarter in previous year.
The company also witnessed a huge jump of Rs 878.47 lakhs in its Net Profit which stood at Rs 919.12 lakhs for the fiscal ended March 31, 2011 as compared to Rs 40.65 lakhs on March 31, 2010.
The Board of Directors of the Company in its meeting held on April 06, 2011, has recommended dividend of 40% (i.e. Rs. 4/- per share of Rs. 10/- each) for the year ended 31st March 2011, subject to the approval of the shareholders at the ensuing Annual General Meeting.
Commenting on the performance, Mr. Shrinivas Dempo, Chairman, GCL, said, "The year 2010-11 has been overall good for us especially the fourth quarter where we managed to record a net profit of Rs 197.76 lakh registering a growth of 22% compared to the corresponding quarter of the previous year. Overall long term outlook for our industry looks robust and we remain optimistic on the future growth potentials of the sector.”
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Goa Carbon's domestic customers include Nalco, Hindalco, Malco, Balco, etc. Apart from Alcan Rio-Tinto, with whom GCL has a long-term supply agreement, exports are also made to Australia, Egypt, Dubai, Oman, Greece, Iran and Saudi Arabia.
About Goa Carbon Ltd.
Incorporated in 1967, Goa Carbon Ltd. (GCL) is the second largest manufacturer of Calcined Petroleum Coke (CPC) in India. A part of the Dempo Group, GCL supplies CPC to leading domestic as well as international aluminum smelters. GCL has a total manufacturing capacity of 240,000 TPA. While it started with manufacturing facility in Goa (75,000 TPA), GCL further augmented its capacity in 2002 by acquiring a petcoke calcining unit at Bilaspur in Chhatisgarh (40,000 TPA) and Paradeep Carbons Ltd. (PCL) at Paradeep in Orissa (125,000 TPA). The Bilaspur and Paradeep units are now merged with GCL.
For more details visit us at www.goacarbon.com
