Phillips Carbon Black Ltd has reported a net profit of ₹12.64 crore in 2014-15 against a net loss of ₹86.60 crore in the previous fiscal.
The company has announced 10 per cent dividend for the financial year 2015. Sanjiv Goenka, Chairman, said that the company was looking for additional sources of raw material. "Similarly, the company is looking for new opportunities for supply of carbon black to internationally renowned tyre companies in different parts of the world", Goenka said.
International customers such as Bridgestone, Goodyear, Michelin and Pirelli contribute around 30 per cent of its carbon black sales.
"We hope to remove our internal inefficiencies and improve our position in the international market," Goenka explained. In 2014-15, it had produced 3.12 lakh tonnes against an installed capacity of 4.8 lakh tonnes. The global tyre industry has been going through a difficult phase in the past couple of years when demand was down.
PCBL's revenue was up 8 per cent at ₹2,485 crore in 2014-15. However, price realisation did not improve much owing to internal inefficiencies.