Final Dividend of Rs 10: Record Date To Be Declared Soon; Buy/Sell/Hold The Metal Stock?

Calcined petroleum coke is manufactured and marketed by Goa Carbon Limited, a public limited company. Goa Carbon Limited regularly supplies makers of graphite electrodes, titanium dioxide, and aluminium smelters in addition to other consumers in the chemical and metallurgical sectors. Following the announcement of a highly profitable fiscal year in FY24 and a dividend recommendation of Rs 10 per share, the stock is under focus of the market watchers.

Goa Carbon Dividend

"The Board of Directors of the Company have recommended a final dividend of Rs.10/- (100%) for the financial year ended 31st March, 2024 on Equity Shares of Rs.10/- each. The Company had earlier paid an interim dividend of Rs.10/- per share on 7th February, 2024. The total dividend for the said period amounts to Rs.20/- (200%) per Equity Share of face value of Rs.10/- each," said Goa Carbon in a stock exchange filing.

Goa Carbon Financials

In the quarter that ended in March 2024, Goa Carbon's net profit climbed by 76.94% to Rs 9.36 crore, from Rs 5.29 crore in the quarter that ended in March 2023. Sales fell from Rs 315.81 crore in Q4FY23 to Rs 178.24 crore in Q4FY24, a 43.56% drop. Net profit for the entire year improved 5.88% to Rs 85.50 crore in the fiscal year that ended in March 2024 from Rs 80.75 crore in the fiscal year that ended in March 2023. Sales fell 22.51% from Rs. 1363.86 crore in FY23 to Rs. 1056.79 crore in FY24.

Goa Carbon Share Price Target

"Petrochemical company Goa Carbon Limited's current momentum appears somewhat weak. While this may bother some, I recommend holding the stock till it dips to Rs.670-725 from its CMP of Rs.825. Notably, the stock has offered a return of 77.18% in a year and declared a dividend of 2.6% against the sector yield of 1.18%. Hence, I recommend holding for 3-9 months for a target of Rs.950-1400, while adhering to the stop loss of Rs.600," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.