PCBL Ltd

Philips Carbon Black Limited (PCBL) is a part of the RPSanjiv Goenka Group, Indias youngest business group. The Company was incorporated on March 30, 1960 as a Public Limited Company. The name of the Company changed from Phillips Carbon Black Limited to PCBL Limited pursuant to issuance of fresh Certificate of Incorporation dated December 29, 2021. The Company is the largest Carbon Black producer in India. Carbon Black which is the main raw material in the production of automotive trye is produced using carbon black feedstock (CBFS) and tar oil. With five manufacturing units at Durgapur in West Bengal, Mundra and Palej in Gujarat and Kochi in Kerala and and Chennai in Tamil Nadu, PCBL has a total rated production capacity of 666,000 MT per annum and 98 MW of Green Power. The Company is a large conglomerate having interests in Power and Natural Resources, Carbon Black, Retail and Fastmoving Consumer Goods (FMCG), Media and Entertainment, Infrastructure and Information Technology (IT) and Education and Sports, amongst others. With its efficient supply chain and distribution network, PCBL a market presence in more than 30 countries.The company has a wellorganised distribution network and its consignment agents cover the entire network of tyre manufacturing units, tyre retreading units and other consumers all over the country.PCBL is the first manufacturer of carbon black in India covering the manufacturing, marketing and designing functions.PCBL was set up in association with Phillips Petroleum, a USbased company, in 1960. PCBL started its commercial production in Decemeber, 1962. PCBL had a technical collaboration with Columbian Chemical for about a decade.PCBL came out with an issue of equity shares at a premium of Rs 30 aggregating Rs 33.53 cr in Feb. 94. In 199697, Carbon and Chemicals India Ltd was amalgamated with the company, effective 1st April 1997. Due to an accidental release of carbon black smoke, the company was forced by the KPCB to close its Cochin factory. The companys production as well as the exports was also affected due to this closure of unit. After a disruption of 3 months the production was restored. To meet its annual demand the company has shifted its 10000 MT idle capacity from Cochin to Duragpur. The company commissioned a facility to produce 50000 MTPA carbon black at its Kochi plant during Q4 FY 2014. With this, the Companys total capacity increased to 472,000 MTPA.During the year 2014, the company successfully developed new grades of carbon black for domestic and international markets, improved product characteristics to meet more stringent customer specifications, continued recasting of Standard Operating Procedures, established state of the art rubber application laboratory and modified reactor design operating conditions to improve yield.The Board of Directors of the company at their meetings held on 5th October 2016 and 18th January 2017 approved the draft Scheme of Amalgamation of Goodluck Dealcom Private Limited, a wholly owned subsidiary of Phillips Carbon Black Limited with Phillips Carbon Black Limited under Sections 230 to 232 of the Companies Act, 2013 subject to regulatory approvals. The Appointed date for the Scheme of Amalgamation was 1st April 2016. The aforementioned Scheme has been approved by the public shareholders of the Company through Postal Ballot and evoting. The Kolkata Bench of the Honorable National Company Law Tribunal (NCLT) sanctioned the Scheme of Amalgamation of Goodluck Dealcom Private Limited with the company vide its Order dated 19th July 2017.Pursuant to the Special Resolution passed by the Shareholders of the Company by way of Postal Ballot / Evoting on 3rd April 2018, the Company had subdivided 1 Equity Share of the face value of Rs 10/ per share, fully paid up, to 5 Equity Shares of the face value of Rs 2/ per share, fully paid up, effective from 21st April 2018.As on 31 March 2018, the Company has three subsidiaries as on date, namely, Phillips Carbon Black Cyprus Holding Limited, PCBL Netherlands Holdings B.V. and Phillips Carbon Black Vietnam Joint Stock Company.During the year 2019, the Company completed its brownfield expansion at its Mundra plant, thereby increasing capacity by 56,000 MT taking the total capacity to 5,71,000 MT.As on 31 March 2020,the Company has 2 unlisted subsidiaries namely, Phillips Carbon Black Cyprus Holdings Limited and Phillips Carbon Black Vietnam Joint Stock Company. One of the former subsidiaries of the Company, namely, PCBL Netherlands Holdings B.V., a stepdown subsidiary of the Company, has been liquidated in accordance with the local laws of Netherlands w.e.f. 30th October, 2019.The Brownfield expansion of Specialty Lines is progressing satisfactorily and is likely to be commissioned within 1st half of FY21. During the FY2020, at the Palej Plant,the environment clearance obtained for carbon black expansion and green power plant. The Commissioning of new carbon black manufacturing line and green power plant expected in FY 202021. In view of the lockdown across the country due to the COVID19 pandemic, manufacturing operations of the Company across all its locations were suspended temporarily during March and April2020, in compliance with the directives/orders issued by the relevant authorities. Later gradually,the Companys plants across all its locations have resumed operations as per government guidelines and directives prescribed.The company has incorporated a new wholly owned subsidiary in the name of PCBL (TN) Limited,for the purpose of setting up of a plant in the state of Tamil Nadu for manufacturing and sale of carbon black, power and related products. It has been incorporated on 29th September, 2020 and its operations would commence in due course.As on 31 March 2021,the Company has three subsidiaries as on date, namely, Phillips Carbon Black Cyprus Holding Limited, Phillips Carbon Black Vietnam Joint Stock Company and PCBL (TN) Limited. During the FY2021,the Company commissioned new production lines at the Palej plant. The current manufacturing capacity across all four plants combined is 6,03,000 MT per annum.The Board of Directors of the Company at its Meeting held on 16th October, 2020 approved, inter alia, a proposal for voluntary delisting of the Companys equity shares from Calcutta Stock Exchange. Accordingly, the Equity Shares of the Company were delisted from CSE w.e.f. 11th November, 2020 in response to the application made by the Company with CSE Limited for voluntary delisting of its equity shares. The Company has commissioned 2 specialty black lines at Palej, Gujarat for production of a wide range of specialty black grades totalling about 32 KTPA to service growing needs of its customers. The greenfield project of about 150 KTPA for the manufacturing of various grades of carbon black and green power plant, spread over 60 acres of land in Tamil Nadu, is progressing strategically. Green power plant of 7.3 MW at Palej and 8 MW in Mundra, respectively, got commissioned in FY22. In FY 2022, the Company introduced specially designed potassium burner to avoid nozzle damage. It introduced hot air line with bellow design change to prevent damage of bellow. It implemented new design atomized burner for improved carbon black feedstock atomisation. It implemented rectification of pelletiser pin design for improvement of pellet quality. It installed decanter systems to carbon black feedstock supply. It installed highcapacity conveying fan.In FY 202122, the Company introduced e NuToneTM21, providing improved dispersion in aqueous and nonaqueous medium and satisfactory colour performance. It developed through intraorganisational collaboration CarboNext10, CarboNext20 and a series of PRD022 grades for moulded rubber goods and ultrahigh reinforcing applications.During the year 202223, the Company commissioned a green power plant at Kochi, in Kerala with a capacity of 7 MW. With this, the total green power capacity of the Company reached 98 MW. First phase commercial production 63,000 MTPA of 147,000 MTPA Greenfield carbon black manufacturing facility in the state of Tamil Nadu was commenced w.e.f. 14 April, 2023.