Goa Carbon Q3 FY26: Loss widens, sales at ₹193 cr

What happened and why it matters

Goa Carbon Limited disclosed that its Board of Directors would meet on January 21, 2026 to consider and approve unaudited financial results for the quarter ended December 31, 2025 (Q3 FY26). The intimation was filed with stock exchanges under SEBI Regulation 29 and was digitally signed by Company Secretary Pravin Satardekar on January 12, 2026. The disclosure matters because Q3 is typically a key operating quarter, and the company’s numbers showed a sharp swing in profitability. The published Q3 data in the provided material indicates that revenue rose year-on-year, but losses widened significantly. The same dataset also shows a turnaround in the March 2026 quarter on certain profit measures. Together, these points provide a clear view of volatility through FY26.

Board meeting intimation and compliance details

The company’s notice stated the board meeting date as Wednesday, January 21, 2026. The stated agenda was to consider and approve unaudited quarterly financial results for the period October 1 to December 31, 2025. The filing referenced compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically Regulation 29. The material also notes that the intimation was communicated to BSE and NSE. In addition to the board-meeting disclosure, the dataset includes other routine compliance items such as a certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended December 31, 2025.

Q3 FY26: Income up but net loss higher

The results summary provided for Q3 FY26 reported total income of ₹199.9783 crore, compared with ₹131.9206 crore in Q3 FY25, a 52% year-on-year increase as stated in the note. Despite the higher income, the net loss widened to ₹23.3674 crore in Q3 FY26 from a net loss of ₹8.3439 crore a year earlier. Basic EPS for the quarter was reported at ₹(25.54), versus ₹(9.12) year-on-year. The same set of disclosures also referenced operational disruptions, including a Goa plant shutdown for 49 days. Disruptions were also mentioned in relation to the Bilaspur unit, but the excerpt provided did not include further quantified details.

How the quarterly numbers moved across FY26

The quarterly table (figures in ₹ crore) shows net sales rising to ₹193.58 crore in December 2025 from ₹102.47 crore in September 2025, before increasing again to ₹201.12 crore in March 2026. Over the same period, total expenditure stayed elevated: ₹213.24 crore in December 2025 and ₹191.73 crore in March 2026. This cost pattern drove operating profit negative for much of FY26 until March 2026. Operating profit was ₹(-19.65) crore in December 2025 but turned positive at ₹9.40 crore in March 2026. Profit after tax followed a similar pattern, with ₹(-23.37) crore in December 2025 and a positive ₹4.49 crore in March 2026.

Cost pressure and below-the-line items

The quarterly results table also provides detail on other income, interest, and depreciation. Other income increased to ₹6.40 crore in December 2025, compared with ₹2.77 crore in September 2025, before moving down to ₹1.49 crore in March 2026. Interest costs remained meaningful through the period, recorded at ₹6.84 crore in December 2025 and ₹5.58 crore in March 2026. Depreciation stayed relatively stable, at ₹0.83 crore in December 2025 and ₹0.72 crore in March 2026. Exceptional items were shown as zero across the quarters provided, indicating the reported swings were largely driven by operating performance and routine income and expense lines.

Snapshot table: key reported figures

Corporate actions and disclosure timeline in the dataset

Beyond Q3 FY26, the dataset lists multiple board-meeting milestones related to results and dividend considerations. A board meeting was scheduled on May 7, 2025 to consider audited financial statements and recommend a dividend, if any, for the year ended March 31, 2025. Another meeting was scheduled on August 13, 2025 to consider unaudited results for the period ended June 30, 2025. The January 21, 2026 meeting covered the unaudited quarter ended December 31, 2025. The dataset also records “Audited Results & Final Dividend” dated May 7, 2026.

Shareholding data points shown

The provided text includes two names and percentages repeated across multiple columns: “shrinivas vasudeva dempo” at 4.33 and “v s dempo holdings privat...” at 55.39. In the excerpt, these figures appear unchanged across the listed periods. Since the context for the table and classification (promoter or public) is not included in the provided material, the safest reading is that the shown holdings remained stable in the periods displayed. Investors typically use such consistency as a reference point while tracking quarterly results and disclosures.

Company contact and registered office details

The dataset lists Goa Carbon’s registered office as Dempo House, Campal, Panjim, Goa 403001. The telephone number is shown as 0832-2441300 and fax as 0832-2427192. The email address in the material is goacarbon@gmail.com. The company website is listed as http://www.goacarbon.com. Such details commonly appear in corporate filings and exchange-linked information pages.

Market impact: what the disclosed numbers signal

The disclosed Q3 FY26 performance combines a strong year-on-year rise in total income with a significantly wider net loss, highlighting margin pressure and operational instability during the quarter. Within the quarterly series, the December 2025 quarter showed operating and net losses alongside high expenditure, even as sales were relatively strong in absolute terms. The March 2026 quarter, however, showed a swing to positive operating profit and profit after tax, with expenses dropping from ₹213.24 crore to ₹191.73 crore while sales rose to ₹201.12 crore. The disclosure of a 49-day shutdown at the Goa plant provides a factual operational lens for why quarterly performance may have been uneven. The sequence of scheduled board meetings and result releases also indicates the normal cadence of financial reporting that investors monitor closely.

Analysis: why Q3 FY26 stood out

Q3 FY26 stands out because the year-on-year revenue increase did not translate into narrower losses, and EPS deteriorated sharply compared to Q3 FY25. The quarterly table reinforces that the operating line was negative through multiple quarters until it turned positive in March 2026, suggesting a cost and operating leverage issue in the preceding quarters. Interest costs remained several crores per quarter, which can further pressure bottom-line outcomes when operating profit is negative. With exceptional items shown as zero, the numbers imply the volatility was largely operational rather than driven by one-time adjustments. The March 2026 quarter’s return to profit, alongside higher sales and lower expenditure, becomes an important comparison point for readers tracking whether the Q3 disruption effects were temporary.

Conclusion

Goa Carbon’s January 21, 2026 board meeting disclosure under SEBI Regulation 29 set the stage for Q3 FY26 results that showed higher income but a wider loss and weaker EPS. The quarterly series in the provided data then shows a return to profitability in March 2026, supported by lower expenditure and positive operating profit. The dataset also records subsequent milestones including audited results and final dividend dated May 7, 2026. Investors will typically watch for audited confirmations, operational updates, and any further exchange filings tied to quarterly performance and dividend decisions.