Phillips Carbon Black Q3 Review - Margin Beat On Better Product Mix: IDBI Capital
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IDBI Capital Report
Philip Carbon Black Ltd. reported better than expected Q3 FY21 profitability mainly led by higher than expected volumes and better than expected product mix.
Its Ebitda was 68% above our estimates. The company’s sales volumes grew 16.0% YoY to 114 kilo tonne and its Ebitda/tonne jumped 70% YoY to Rs 16,203 led by better product mix.
Ebitda increased 53% YoY to Rs 1,874 million and net profit jumped 80% YoY to Rs 1,250 million as interest cost fell 25% YoY to Rs 80 million.
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