Himadri Chemical reports 11 per cent drop in FY20 Sales
Himadri Speciality Chemical Ltd reported that it has commissioned speciality carbon black (SCB) capacity in West Bengal.
Meanwhile, its annual sales volume declined by 11 per cent in FY20. The company has reported its fourth quarter and FY20 financial numbers. Its sales volume declined to 3,20,373 MT for FY20. This is the second consecutive drop in the sales reported by the company despite commissioning its facility in West Bengal on schedule.
In its FY19 annual report, the company had mentioned that it has plans to set-up speciality carbon black at West Bengal. This project has an annual capacity of 60,000 MTPA, which was operational in Q4FY20.
On the other hand, its advance carbon material (ACM) plant, which is a high-technology material used in lithium-ion (Li-ion) battery, has been kept on hold. It said that with an aim to conserve cash in the current situations, the project has been put on hold.
As per FY19, its operational capacity stood as 5,00,000 TPA for coal tar distillation capacity, 1,20,000 TPA in carbon black and 20 MW power in the captive power plant.
On Thursday, its share price is quoted at Rs 47.50, down by 0.5 per cent on BSE.