Phillips Carbon Black Limited (PCBL) – a R P Sanjiv Goenka Group Company, is expecting the demand of carbon black to grow in India.
The company, whose operating profit rose in the fiscal year 2016 to Rs 230.19 crore, as against Rs 210.21 crore in the previous year, expects growth of the carbon black should be around 6-7 per cent during the next couple of years.
The company recently had an annual general meeting (AGM) which has come to a decision to pay a dividend of Rs 2.50 per equity share. This will necessitate a total cash outflow of Rs 10.37 crore, including dividend distribution tax.
The company is India’s largest producer of carbon black and presently the seventh largest in the world. Operating with the collaboration of a US company Phillips Petroleum, has four located state-of-the-art plants at West Bengal’s Durgapur, Gujarat’s Palej and Mundra and Kerals’s Cochin.