Assam Carbon Products Ltd
Guwahati maker of carbon brushes, seals and speciality graphite for railways, power and steel — ₹70 Cr of revenue at a 14% net margin, quoted at ₹435.
Market cap
₹108.33 Cr
0.28 Cr shares
P/E ratio
11.29
Sector average 30
Book value
₹209.28
P/B 1.88
1-year return
+0.00%
52w ₹393 – ₹435
Currently 0% of the way through its 52-week range.
Indicative price history
1Y change
+0.00% ₹393 → ₹393
52-week band in this window: ₹392.50 – ₹392.50. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Former Morgan Crucible subsidiary, now Himatsingka-controlled (70.5%); plants at Guwahati and Patancheru.
- FY25 revenue about ₹70 Cr, net margin 13.7%, EBITDA margin around 20%.
- Altius quote ₹350 bid / ₹435 ask; market value about ₹120 Cr on 27.6 lakh shares.
About Assam Carbon
Assam Carbon Products Limited was incorporated in 1963 in Guwahati and for decades was a subsidiary of Morgan Crucible (Morgan Advanced Materials) of the UK. The Himatsingka family — Rakesh, Shaurya Veer, Anita and Maalika Himatsingka — bought Morgan's stake and now hold about 70.5%; the balance is with the public from the company's old regional-exchange listing (hence the 'L' CIN).
It manufactures electrical carbon products (brushes, current collectors, silver-impregnated contacts, carbon blocks), mechanical carbon (seal rings, bearings, vanes, thrust pads) and speciality graphite (high-temperature insulators, heating elements, casting dies, lubricating blocks) at Guwahati and a machining unit at Patancheru near Hyderabad. Customers include Indian Railways, ACC, Bosch, ABB, HAL, Tata and Nalco across railways, power, steel, cement, mining and automotive.
FY25 revenue was about ₹70 Cr with a net margin of 13.7% (up from 9.9% in FY21) and EBITDA margins around 20% for five years; revenue growth slowed from 16.7% in FY23 to 9.1% in FY25. The share count is taken as 27.6 lakh shares of ₹10; at ₹435 the market value is about ₹120 Cr, roughly 12–13 times estimated FY25 earnings.
Figures preliminary; verify from MCA filings. Line items are reconstructed from the FY25 annual report summaries and dealer research; share count and balance-sheet figures need confirming.
Where the revenue comes from
- Electrical carbon products50%
Carbon brushes, current collectors, contacts for railways, motors and generators
- Mechanical carbon products25%
Seal rings, bearings, vanes and thrust pads for pumps and compressors
- Speciality graphite25%
Insulators, heating elements, casting dies; machining unit at Patancheru
Products & services
Carbon brushes & contacts
Brushes, current collectors and silver-impregnated contacts for traction motors and generators.
Mechanical carbon
Seal rings, bearings, vanes and thrust pads for pumps, compressors and turbines.
Speciality graphite
High-temperature insulators, heating elements, casting dies and lubricating blocks.
What works
- • Niche engineered products with technology inherited from Morgan Advanced Materials and long-standing approvals from Indian Railways and power OEMs.
- • Steady margins — EBITDA around 20% and net margin rising to 13.7% in FY25 — on a debt-light balance sheet.
- • Diversified end markets (railways, power, steel, cement, mining, automotive) and a speciality-graphite division serving diamond tools, optical fibre and electronics.
What to watch
- • Growth has slowed to single digits; revenue of ₹70 Cr is small and dependent on railway and utility ordering.
- • Dealer quotes vary widely — ₹350 bid / ₹435 ask at Altius, ₹424–446 elsewhere in 2026, with a 52-week range reported as ₹512–669 — so exit prices are uncertain.
- • Ex-regional-exchange stock with no exchange trading and limited public disclosure.
- • Share count and balance sheet on this page are estimates until the FY25 AOC-4 is checked.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| Assam CarbonThis page | ₹392.50 | ₹108.33 Cr | 11.29 | 1.88 | +9.11% |
| AKC Steel | ₹26.00 | ₹10.79 Cr | 4.32 | 0.63 | -15.15% |
Latest reported year: FY25 ending 31 Mar 2025.