Phillips Carbon Black Ltd (PCBL) is likely to commission its 32,000-tonne facility at Palej in Gujarat by Q3 FY21, while its greenfield project in South India will be “fast-tracked at an appropriate time”, it said in a notice to the bourses.

The company, part of the RP-Sanjiv Goenka Group and the largest carbon black producer in the country, reported a near 3 per cent drop in net profit to about ₹72 crore for Q4 FY20, against ₹74 crore in the previous-year period.

Revenue from operations rose 24 per cent to ₹700 crore (₹921 crore).

For the full fiscal, revenue from operations saw an 8 per cent YoY decline to ₹3,244 crore while net profit saw a 27 per cent decline to ₹283 crore. The results come in the backdrop of continued global recession in the automobile industry, further aggravated by a pandemic, PCBL said.

“An interim dividend at 350 per cent, i.e. ₹7 per equity share of ₹2 each, which was declared by the board of directors at its meeting held on February 13, 2020, shall be considered the final dividend for the financial year ended March 31, 2020,” it said in the notice to the bourses.