Philips Carbon Black Ltd to expand projects in Gujarat
Philips Carbon Black Limited (PCBL) has taken steps to increase its capacity by a further eight per cent through Brownfield expansion at the Palej and Mundra Plants in Gujarat, its chairman Sanjiv Goenka said on Thursday.
He was talking to the media after the board of directors of PCBL, a RP-Sanjiv Goenka group company, met in the city to consider and approve the financial results for the quarter which ended on September 2016.
PCBL, India’s largest carbon black manufacturer, registered 18 per cent sales volume growth as compared to the same quarter last year. PAT during the quarter stood at Rs 15.2 crore against Rs 4.1 crore in the same quarter previous year, a growth of 271 per cent. Average revenue realisation came down year-on-year due to a fall in raw material prices.
The company’s diversified raw material procurement strategy led to reduced dependence on US Gulf Coast and innovated inventory management. Finance and hedging cost was lower by 26 per cent during the quarter, on account of initiatives including replacement of high cost borrowings. Improvement in product and customer mix resulted in higher margins. Higher capacity utilisation and lower manufacturing cost was driven by improved plant performance.