During its 62nd Annual General Meeting, Phillips Carbon Black Limited (PCBL), a subsidiary of the RP Sanjiv Goenka Group, announced two expansion projects. The first project is a greenfield expansion in Chennai, Tamil Nadu, while the second is a brownfield project in Mundra, Gujarat. The initial phase of the Chennai project, with a capacity of 63,000 metric tons per annum (MTPA), has been successfully commissioned. Upon completion, the plant will contribute an additional 147,000 MTPA of carbon black capacity and 24 MW of green power. The brownfield expansion at the Mundra plant in Gujarat is divided into two phases, with the first phase expected to be commissioned in the first quarter of FY 2023-24. This expansion will add a specialty chemical capacity of 40,000 MTPA. These projects will increase PCBL's total manufacturing capacity to 790,000 MTPA and its green power generation capacity to 122 MW.

PCBL currently operates manufacturing plants in Durgapur (West Bengal), Palej, and Mundra (Gujarat), Kochi (Kerala), and Chennai (Tamil Nadu). The company's manufacturing capacity, including the first phase of the Chennai project, is 666,000 MTPA, and its green power generation capacity is 98 MW.

In addition to its expansion projects, PCBL is investing in its R&D centre in India and an innovation centre in Belgium. Through collaboration between these centres and the Process Technology team, the company aims to expand its product portfolio and develop process innovations to meet the evolving needs of its customers. This focus has led to the development of new and improved grades of performance and specialty chemicals for various industries such as tires, inks, coatings, engineering plastics, fibres, conductive, and batteries.

PCBL is also striving to penetrate new markets and expand its global footprint. To achieve this, the company aims to deliver cutting-edge products, excellent service, and strong technical support, fostering long-term relationships with new customer partners.

Furthermore, PCBL is embracing digital transformation and transitioning from digitisation to digitalisation across its various functions to enhance efficiency, optimisation, and data monitoring.

Despite facing headwinds, PCBL reported positive growth in its financial performance. In FY 2022-23, the company achieved a profit after tax (PAT) of Rs 4440.9 million, a 4 per cent increase compared to the previous financial year. Net sales reached Rs 58.73 billion, reflecting a significant growth of 32.1 per cent compared to FY 2021-22. The EBITDA stood at Rs 7748.4 million. PCBL also declared an interim dividend of Rs 2076 million and allocated Rs 85 million toward corporate social responsibility (CSR) initiatives, benefiting over 43,900 lives.

Sanjiv Goenka, Chairperson of the RP Sanjiv Goenka Group, attributed the company's progress to several key initiatives, including planned capacity expansions, a strong focus on research and development, and an expanding global market presence. However, he acknowledged the challenges posed by the global economy, such as rising inflation, climate issues, disruptions in supply chains due to the war in Ukraine, and the re-emergence of COVID-19 in China. Despite these setbacks, India remained the fastest-growing economy worldwide.

To address the effects of the economic slowdown, PCBL's strategy focuses on optimising operational costs, implementing stricter controls on capital expenditure, and maintaining efficiency across all functions. Agility in aligning actions with the adopted strategy is deemed crucial for future success, as emphasised by Sanjiv Goenka.