AgencyPCBL Sanjiv chairman Goenka also plans to further increase its equity capital to Rs 4,000 crore (to Rs 500 crore by 2018), he said here today.

Phillips Carbon Black Limited (PCBL) will build a new carbon black plant in Tamil Nadu and expand its two existing plants to brownfield sites in the next two years with a total capex of Rs 90 crore, a senior official said today. Exposed.

This new initiative will further increase the capacity of the country’s largest carbon black producer by 50% to 70% million tons.

PCBL also plans to raise another Rs 40-50 crore equity by 2018, Chairman (Sanjiv Goenka) said here today.

“We are constructing a 150 Ennore per annum Ennore New Carbon Black Plant of 10,000 tons with an investment of Rs 600 tons crore in Ennore, Tamil Nadu. At the same time, we are also investing 300 crore,” said Ge Enca.

When all the projects are completed in the next two years, the total capacity will increase by 50% to 700,000 tons.

Kaushik Roy, Managing Director and CEO of PCBL, earlier said that the brownfield expansion will address bottlenecks at two plants, adding 80,000 tons of capacity. These two plants will be completed first, followed by the greenfield plant near Chennai.

The company also has plants in Mundra (200,000 tons), Cochin (100,000 tons) and Durgapur (200,000 tons).

Goenka said the company chose Tamil Nadu as the destination for the new plant as several tire giants in the southern state are expanding or setting up new operations.

Carbon black adds stability and hardness to tires besides giving them black color.

Goenka said there is a proposal to issue shares but the details are yet to be finalized. However, the size of the issue is expected to be Rs 400 to 500 crore, according to officials.

The board has approved an issue of up to Rs 50 crore of shares.

PCBL Q4 net profit up 174% to Rs 740 crore.

PCBL today reported lower interest expenses, improved operational efficiency and higher revenues.

President of PCBL Sanjiv Goenka (Sanjiv Goenka) “This is our best performance ever,” he said

Measures to improve operational efficiency started a few years ago, he said. Reduced interest burden and increased sales contributed to the performance.

As of March 2017-18, 2018, the company’s debt for the year 2017-18 decreased by Rs 43 crore over 43 years to Rs 7.7 crore.

Goenka said that despite expansion plans valued at Rs 9,010 crore, the overall debt for the next two years is likely to be lower than now.

“We are a debt-hating group. We plan to do it in 2020. PCBL years ago to be cleared of long-term debt. The current debt size is around Rs 46 crore,” he said.

On the overall performance for 2017-18, Goenka said the company’s revenue grew by 228% to Rs 2.3 billion as compared to the previous fiscal.