| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 456 | 566 | 420 | 175 |
| Cost of Material Consumed | 357 | 501 | 308 | 136 |
| Change in Inventory | -59 | -33 | 62 | 17 |
| Gross Margins | 34.65 | 17.31 | 11.9 | 12.57 |
| Employee Benefit Expenses | 18 | 12 | 11 | 11 |
| Other Expenses | 40 | 53 | 43 | 34 |
| EBITDA | 100 | 33 | -4 | -23 |
| OPM | 21.93 | 5.83 | -0.95 | -13.14 |
| Other Income | 20 | 10.5 | 37 | 16 |
| Finance Cost | 1 | 7 | 4 | 1.7 |
| D&A | 2 | 1.6 | 2 | 2 |
| EBIT | 98 | 31.4 | -6 | -25 |
| EBIT Margins | 21.49 | 5.55 | -1.43 | -14.29 |
| PBT | 116 | 34 | 27 | -11 |
| PBT Margins | 25.44 | 6.01 | 6.43 | -6.29 |
| Tax | 35 | 10 | -3 | 2 |
| PAT | 81 | 24 | 30 | -13 |
| NPM | 17.76 | 4.24 | 7.14 | -7.43 |
| EPS | 311.54 | 90.57 | 113.21 | -49.06 |
| Financial Ratios | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating Profit Margin | 21.93 | 5.83 | 4.24 | -13.14 |
| Net Profit Margin | 17.76 | 4.24 | 7.14 | -7.43 |
| Earning Per Share (Diluted) | 311.54 | 90.57 | 113.21 | -49.06 |
| Assets | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Fixed Assets | 14 | 15 | 19 | 19 |
| CWIP | 5 | 7 | 4 | 3 |
| Investments | 207 | 204 | 341 | 469 |
| Trade Receivables | 60 | 46 | 16 | 9 |
| Inventory | 181 | 212 | 82 | 83 |
| Other Assets | 70 | 78 | 71 | 24 |
| Total Assets | 537 | 562 | 533 | 607 |
| Liabilities | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share Capital | 2.6 | 2.65 | 2.65 | 2.65 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 433 | 431 | 519 | 532 |
| Borrowings | 58 | 115 | 0 | 52 |
| Trade Payables | 28 | 5.6 | 3 | 5 |
| Other Liabilities | 15.4 | 7.75 | 8.35 | 15.35 |
| Total Liabilities | 537 | 562 | 533 | 607 |
| Cash-Flow Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| PBT | 116 | 34 | 27 | -11 |
| OPBWC | 106 | 40 | 1 | -21 |
| Change in Receivables | -68 | 9 | 45 | 32 |
| Change in Inventories | -120 | -31 | 130 | -1 |
| Change in Payables | 25 | -30 | -4 | 1 |
| Other Changes | 0 | 0 | 0 | 0 |
| Working Capital Change | -163 | -52 | 171 | 32 |
| Cash Generated From Operations | -57 | -12 | 172 | 11 |
| Tax | -21 | -7 | -3 | -2 |
| Cash Flow From Operations | -78 | -19 | 169 | 9 |
| Purchase of PPE | -7 | 0 | -3 | -1.2 |
| Sale of PPE | 0 | 0 | 0 | 0 |
| Cash Flow From Investment | 36 | -30 | -32 | -80 |
| Borrowing | 40 | 57 | -115 | 52 |
| Dividend | -1 | -1.3 | -1 | -0.5 |
| Equity | 0 | 0 | 0 | 0 |
| Others From Financing | -1 | -6.8 | -4 | -0.5 |
| Cash Flow from Financing | 38 | 48.9 | -120 | 50 |
| Net Cash Generated | -4 | -0.1 | 17 | -21 |
| Cash at the Start | 17 | 13 | 13 | 29 |
| Cash at the End | 13 | 12.9 | 30 | 8 |
India Carbon Limited is one of India’s leading producers of calcined petroleum coke (CPC), a critical raw material used primarily in the aluminium, steel, and graphite electrode industries. Established decades ago, the company has built a strong legacy in manufacturing high-quality CPC through its strategically located plants in Assam and Meghalaya. India Carbon sources raw petroleum coke from domestic and international suppliers and processes it using advanced calcination technology to deliver consistent chemical and physical properties. Its focus on quality control, industry expertise, and adherence to global standards has positioned the company as a trusted supplier for major industrial customers across the country.
From a business operations standpoint, the company benefits from long-standing client relationships, efficient manufacturing processes, and deep knowledge of the carbon materials market. The demand for CPC is closely linked to the performance of the aluminium and steel sectors, both of which have seen steady expansion due to India's growing infrastructure and industrialization efforts. India Carbon continues to enhance its capacity, invest in modernization, and optimize energy use to improve operational efficiency. Additionally, the company’s strategic locations near key industrial hubs reduce logistics costs and ensure timely delivery, strengthening its competitiveness in the domestic CPC market.
In the unlisted shares market, India Carbon Limited attracts investor interest due to its stable business fundamentals, essential role in industrial supply chains, and positive industry outlook driven by growth in metals production. As India scales up aluminium production, renewable energy infrastructure, and large-scale manufacturing, the demand for CPC is projected to remain strong. Investors often view India Carbon as a resilient, asset-backed company with steady revenue potential and long-term value creation. The company’s consistent performance, niche market positioning, and prospects for capacity expansion make its unlisted shares appealing to those looking for exposure to the industrial materials sector with moderate risk and reliable growth potential.
1. What are India Carbon Limited unlisted shares?
These are equity shares of India Carbon Limited that are not listed on stock exchanges like NSE or BSE and are traded privately through off-market transactions.
2. What does India Carbon Limited do?
India Carbon Limited is engaged in manufacturing carbon-based products such as calcined petroleum coke (CPC), carbon paste, and electrode carbon products used in aluminum and steel industries.
3. Why do investors consider buying its unlisted shares?
Investors are attracted due to:
4. How can one buy India Carbon Limited unlisted shares?
Shares can be purchased through:
A Demat account is required for settlement.
5. Is there a minimum investment amount?
There is no fixed company-mandated minimum, but brokers typically require investments starting from ?25,000 to ?1 lakh depending on deal size and availability.
6. What factors influence the share price?
Key factors include:
7. Is India Carbon Limited planning an IPO?
As of now, there is no confirmed IPO timeline. Investment is generally driven by long-term growth expectations rather than near-term listing events.
8. What are the risks involved?
Key risks include:
9. How are these shares transferred?
Shares are transferred via off-market transactions into the investor’s Demat account using DIS or electronic instructions.
10. What is the taxation on unlisted shares?