PCBL to invest Rs 300 cr to increase carbon black capacity

R P Sanjiv Goenka group company Phillips Carbon Black Ltd (PCBL) will be investing Rs 300 crore to increase its capacity and is also evaluating a greenfield carbon black plant in South India. "We have a capacity of 4.8 lakh tonne per annum of carbon black and now we will invest Rs 300 crore in Palej and Mundra plants of Gujarat to add another 80,000 tonne of capacity. The new capacity will be ready by FY 2019," PCBL chairman Sanjiv Goenka said on Thursday.

Goenka also said that the Greenfield project is being evaluated and a few locations have been shortlisted.The greenfield project will have a capacity of 1,20,000 tonne per annum.

The Board of Directors of Phillips Carbon Black Limited that met in Kolkata approved the First Quarter Results of FY'18. The total revenue of the company for Q1 of FY 18 has been Rs 638.86 crore up from Rs 479.65 in Q1 FY 17.

In FY'17, PCBL reported the best-ever results achieved so far since the inception of the company in 1960. In FY'17, PCBL achieved the highest-ever PBT of Rs 165.52 crore, the 4th Quarter PBT being Rs 63 crore.

The four PCBL plants located at Durgapur (West Bengal), Kochi (Kerala), Mundra (Gujarat) and Palej (Gujarat) recorded the highest-ever carbon black production of 383,316 tonne. The company exported 93,340 tonne of carbon black to more than 30 countries and sold another 2,94,066 tonne within India.