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Phillips Carbon Black Posts Best-Ever Results

On Tuesday, Phillips Carbon Black posted its best ever financial results for the quarter and fiscal year ended March 31, 2008. For the year ended March 31, 2008, the company reported net profit of Rs. 89.30 crore based on total income of Rs. 1039.3 crore. Net profits rose nearly four-fold from the previous year period, compared to a 3.7% increase in total income.

Here is a copy of the audited results.

In an article from The Telegraph (Calcutta), Sanjiv Goenka, vice chairman of RPG Enterprises (parent company of PCBL), stated that the results represented “a complete re-invention of the company. What we had done three years ago at CESC has been done in PCBL now.” CESC, another subsidiary of RPG, is an Indian power company.

Also from the Telegraph article:

Incidentally, carbon black feedstock price rose sharply to $70 per barrel in March 2008 compared with $41 a year ago. But PCBL managed to mitigate the rise in input cost by transferring the burden on to consumers. PCBL is now investing Rs 350 crore in its fourth plant at Mundra in Gujarat. It also plans to expand its Cochin plant. The funds will come from internal accruals only. Following the expansion in 2009-10, PCBL will become the sixth largest producer with 410,000-tonne capacity, up from 270,000 tonnes at present.
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