Phillips Carbon Black reports PAT of Rs57.55cr in Q2FY21

The additional 32,000 tonne capacity at Palej in Gujarat is expected to be commissioned by FY'21. This consists of two lines, both for specialty black and also a 7MW co-generation power plant.

Oct 16, 2020 03:10 IST India Infoline News Service

The Board of Directors of Phillips Carbon Black Limited (PCBL), an RP-Sanjiv Goenka Group Company, an RP-Sanjiv Goenka Group Company, met on October 16 through video conferencing to consider and approve the un-audited financial results for the quarter and six months ended 30th September, 2020.

Highlights for the quarter ended September 30, 2020
  • PCBL, India's largest carbon black manufacturer having 4 plants at strategic locations, registered a PBT of Rs 72.47 cr in Q2FY21 (Rs 2.68 cr in Q1FY21) and a PAT of Rs 57.55 cr in Q2FY21 (Rs 2.31 cr in Q1FY21) in the backdrop of the continued global recession in the automobile industry further aggravated by the COVID-19 pandemic.
  • The additional 32,000 tonne capacity at Palej in Gujarat is expected to be commissioned by FY'21. This consists of two lines, both for specialty black and also a 7MW co-generation power plant.
  • The greenfield project of about 1,50,000 MT for manufacture of various grades of carbon black and 25 MW of co-generation power over 60 acres of land in Tamilnadu is progressing strategically. Total investment is estimated to be in excess of Rs 600 crores and is expected to be commissioned by 2023. PCBL (TN) LIMITED, a wholly owned subsidiary of Phillips Carbon Black Limited has been incorporated on 29 Spetember, 2020.
  • 7 MW co-generation power plant in Kochi, Kerala is expected to be commissioned by 2021.
  • Sushila Goenka Innovation Centre in Belgium, Europe has become operational. The state-of the-art Innovation Center will further strengthen our position as a knowledge driven organisation.
  • Safety Healthy and Environment continues to be a major focus area for PCBL. All the four plants of PCBL today are WASH (Workplace Assessment for Safety and Hygiene) certified which is a recognition of the safety, health and hygiene culture in PCBL in a post COVID scenario.
  • The Company is taking all the necessary steps and precautionary measures to ensure smooth functioning of its operations and to ensure the safety and well-being of all its employees.
  • Voluntary delisting of the Equity Shares of the Company from Calcutta Stock Exchange Limited (CSE). The equity shares of the Company will continue to remain listed on National Stock Exchange of India Limited and Bombay Stock Exchange Limited, which have nationwide terminals.
Phillips Carbon Black Ltd is currently trading at Rs134.90 up by Rs3.9 or 2.98% from its previous closing of Rs131 on the BSE. The scrip opened at Rs133 and has touched a high and low of Rs138 and Rs130.05 respectively.

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