ICICI Direct: Phillips Carbon Black Posts Resilient Q1 Performance, Bullishness Reloaded   
Rubber black is a major reinforcing filler used in rubber compounds produced by Phillips Carbon Black (image: Company website)

ICICI Direct: Phillips Carbon Black Posts Resilient Q1 Performance, Bullishness Reloaded  

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Phillips Carbon Black Ltd. reported a steady performance in a Covid-19 impacted Q1 FY21.

Net sales for the quarter were at Rs 360 crore, down 61% YoY. Carbon black sales volume for the quarter came in at approximately 51,300 tonne, down 52% YoY with blended realisation at Rs 68/kilogram versus Rs 83/kilogram in base quarter.

The Company reported positive Ebitda and profit after tax prints despite a steep decline in sales volume and value.

Ebitda in Q1 FY21 was at Rs 39 crore with Ebitda margins at 10.7% (Ebitda/tonne at approximately Rs 7,500/tonne).

Profit after tax in Q1 FY21 came in at Rs 2.3 crore. The company guided for near normalcy in operations courtesy aftermarket sales in its key user industry tyres.

Click on the attachment to read the full report:

ICICI Direct Phillips Carbon Black Q1FY21 Result Update.pdf

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