India Carbon Limited has announced the annual report for the financial year ended March 31, 2022. The company has reported an astounding growth in total revenue and net profit. The company’s sales rose by 132%.
The total revenue of the company increased by 107%, to Rs. 475 crore in FY22 as against Rs. 229 crore in FY21.
However, the total expenses of the company have also increased 102%, to Rs. 359 crore as against Rs. 177 crore in the previous financial year. The PBT of the company increased 123%, to 116 crore in FY22 compared to Rs. 52 crore. The net profit of the company has also increased by 55%, to Rs. 81 crore in FY22 as against Rs. 52 crore in FY22 .
The net worth, for the financial year ended March 31, 2022, increased by Rs.101.80 crore as compared to the previous financial year, mainly due to profit after tax amounting to Rs.81.35 crore. The board of directors has recommended a dividend of Rs. 5 per equity share, amounting to Rs. 1.32 crore for the financial year ended March 31, 2022.
Production of Calcined Petroleum Coke (CPC) & Electrode Carbon Paste (ECP) during the Financial Year under review was 79,913 MT & 3,674 MT, as against 66,384 MT & 4,368 MT, respectively, in the previous financial year, which exhibits an increase in the production of CPC by 20.44% and a decrease in the production of ECP by 15.89%.
Sales of CPC & ECP during the Financial Year under review were 75,093 MT & 3,727 MT, as compared to 64,321 MT & 4,224 MT, respectively, in the previous financial year, which is an increase of 16.75% in CPC and a decrease of 11.77% in ECP. All of the above has resulted in a good financial performance for the company for the financial year ended on 31.03.2022.
The company is continuously working on expansion, modernization, and upgradation of plants by absorbing technology. The company is also exploring new growth opportunities as well as optimum utilization of its available resources.
The Indian Aluminium Industry which is highly concentrated, stands as the 2nd largest producer in the world. With the top 5 companies constituting the majority of the country’s production, it has a share of nearly 5.3% of the global aluminum output.The global economy witnessed a post pandemic recovery. The global aluminium market saw a deficit of ~1.2 million tonnes in 2021 due to lower output from China and Europe amid an energy crisis and a sharp recovery in demand as the pandemic began to ease. The global Aluminium prices continued to grow which was further fueled by the Russia-Ukraine war.