Key Metrics of Core Carbons Private Limited
About Core Carbons Private Limited
Company details
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
WatchDowngraded by ICRA on 08 Jul 2026
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 08 Jul 2026 | ICRA | Downgraded | BBB+ | A2 | Stable | ₹87.0 Cr | View |
Credit strengths (ICRA, Jul 2026)
+ Favourable demand prospects for coconut shell-based activated carbon
Activated carbon is widely used in the purification industry, namely the water, air and gas purification industries, and for gold extraction purposes.
+ Experience of promoters in activated carbon industry for more than two decades
CCPL, incorporated in 1998, is one of the early entrants in India in manufacturing activated carbon and is one of the largest players with an installed operational capacity of ~30,816 MTPA as on date.
+ Comfortable capital structure
The company’s capital structure is robust, with gearing at 0.1 times and TOL/TNW of 0.2 times as on March 31, 2026.
Credit challenges
− Cyclical nature of business; margins exposed to volatility in raw material prices
The supply of coconut shell-based charcoal is cyclical as the yield of coconut depends on the monsoons.
− High customer concentration risk
CCPL has increased its customer portfolio over the years and at present caters to clients across the globe.
− Intense competition in export market; exposure to regulatory risks
Tropical countries such as the Philippines, Indonesia, Malaysia, Sri Lanka and India are the primary producers of coconut shell-based charcoal due to the abundance of the primary raw material.
Could lead to an upgrade
CCPL’s ratings can be upgraded if the company shows a sustained improvement in profitability while maintaining healthy scale and
Could lead to a downgrade
Pressure on CCPL’s ratings could arise if there is inability to improve profitability weakening the debt coverage indicators. Any major capex/investment that weakens CCPL’s
Agency-reported financials (ICRA, 08 Jul 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹319 Cr | ₹489 Cr |
| PAT | ₹33.80 Cr | ₹2.80 Cr |
| OPBDIT/OI | 13.4% | -0.7% |
| PAT/OI | 10.6% | 0.6% |
| Total outside liabilities/Tangible net worth (times) | 0.10× | 0.20× |
| Total debt/OPBDIT (times) | 0.20× | -8.30× |
| Interest coverage (times) | 43.70× | -2.20× |
| Revenue growth (YoY) | — | 53.6% |
| EBITDA (margin × income) | ₹42.68 Cr | ₹-3.42 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹8.54 Cr | — |
| Implied interest cost (EBITDA ÷ coverage) | ₹0.98 Cr | — |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Forward contract limit/Forward to | Other | — | ₹7.00 Cr | — | A1 | Assigned | ICRA |
| to – Export Packing Credit limits | Working capital & bank lines | — | ₹80.0 Cr | — | A- (Stable) | Assigned | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 57% |
| Information on file | 44% · missing: Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 57% chance the next rating action is stable or better
- Current rating BBB+ (investment grade)
- Interest coverage -2.2×
- Working-capital limits 39% utilised on average
Rated limits by facility
Timeline
From the report
The gearing was 0.1x as on March 31, 2026, and the company had free cash and bank balances of Rs. 80.9 crore as on March 31, 2026, with an average utilisation of 39% of sanctioned working capital limits in FY2026.
From the report
The gearing was 0.1x as on March 31, 2026, and the company had free cash and bank balances of Rs. 80.9 crore as on March 31, 2026, with an average utilisation of 39% of sanctioned working capital limits in FY2026.
From the report
The gearing was 0.1x as on March 31, 2026, and the company had free cash and bank balances of Rs. 80.9 crore as on March 31, 2026, with an average utilisation of 39% of sanctioned working capital limits in FY2026.
From the report
It also has a comfortable buffer in fund-based working capital limitswith average utilization of 39% in FY2026.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.