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Himadri Specialty Chemicals to invest in carbon black capacity expansion

According to the investor report, Himdari’s Q3 2018 sales were up 42 percent YoY mainly backed by pricing gains, partially offset by slightly lower volume. Though raw material costs surged, EBITDA/ton was sharply up by 84 percent YoY on account of better pricing trends for carbon black and CTP (Coal Tar Pitch).

EBITDA margins expanded by 156 bps YoY (204 bps QoQ) reflecting healthy operating leverage. Moderate increase in depreciation and other expenses helped net profit growth of 128% YoY.

While the company reiterated setting up 20,000 MT capacity for advanced carbon material in West Bengal, it revised its capacity expansion plan for carbon black. Instead of 30,000 MT capacity expansion earlier announced, it is now looking for 60,000 MT additional capacity. This would take its total carbon black capacity to 180,000 MT. For the new capacity expansion plans (carbon black & advanced carbon material), the funding requirement would be Rs780 crores.

Read the full press release here.

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