India Carbon Limited Unlisted Shares

India Carbon Limited is India’s leading producer of Calcined Petroleum Coke provides the right blend of people & products to serve the needs of the Aluminum, Steel, & other Carbon consuming industries.

The Company, established in 1961 was founded by Mr. B. Himatsingka and is a pioneer of the Calcining industry has set up Asia’s first Calcination Plant at Guwahati in 1962. ICL since inception has also been in Technical & Financial Collaboration with Oxbow Calcining LLC (formerly Great Lakes Carbon LLC) USA -World Leaders in the Calcined Petroleum Coke field. The Company then went ahead and established its second calcination plant in 1969 at Budge Budge, West Bengal.

India Carbon’s primary business is the manufacture and supply of high-quality Calcined Petroleum Coke (CPC) which is the purest form of Carbon, containing over 99.5% of it. Along with the Calcined Coke, the Company also specializes in the production of Electrode Carbon Paste (ECP) and Tamping Paste used widely in the Ferro Alloys and Allied industries and also in the production of Carbide. Both the Electrode Carbon Paste as well as the Tamping Paste are produced from a mixture of different carbonaceous material (CPC, Calcined Anthracite Coal, etc.) and Soft Pitch which is used as a binder.

The primary raw material used by ICL for its operations is Raw Petroleum Coke, frequently referred to as RPC which is purchased from Oil refineries all over the world. RPC itself is produced from the thermal cracking of crude.

The primary customers for ICL are:

1. Aluminum industry – National Aluminium Company Limited (NALCO), HINDALCO Industries Limited (HINDALCO), Bharat Aluminium Company Limited (BALCO) and Madras Aluminium Company Limited (MALCO).

2. Steel Industry – Steel Authority of India Limited (SAIL), Tata Iron and Steel Company Limited (TISCO) and Essar Steel,

3. Graphite Industry– Graphite India Limited and Hindustan Electro Graphite Limited.

India Carbon Limited Unlisted Shares Details:

Total Available Shares:	300
Face Value:	₹ 10 Per Equity Share
Lot Size:	50 Shares
Current Unlisted Share Price:	₹ 1800 Per Equity Share

Promoters And Management:

1. Mr. Rakesh Himatsingka - Chairman & Managing Director Mr. Rakesh Himatsingka currently serving as Chairman & Managing Director of India Carbon has been Managing Director of the Company since May 1996 and then took over as Chairman in 1999. He completed his Mechanical Engineering from Birla Institute of Technology and Science (BITS), Pilani. He is also Chairman of Assam Carbon Products Ltd and has over 34 years of industry experience. Furthermore, he has served as the National President of The Confederation of Export Units and is a member of the Board of Governors of the Institute of Modern Management, Kolkata. 2. Mr. Shaurya Veer Himatsingka - Deputy Managing Director Mr. Himatsingka comes to the Company with a strong entrepreneurial and management base, having completed his Masters in Business Administration from The Tepper School of Business at Carnegie Mellon University, Pittsburgh, Pennsylvania in 2005. He also obtained his Bachelors in Business Administration from Carnegie Mellon University and attained Specializations in the fields of Finance, Operations, and Computing & Information Technology. Mr. Himatsingka also had the experience of Investment Banking with JM Morgan Stanley and undertook Consulting opportunities with Mellon Financial Corporation, Pennsylvania and Morgan Advanced Ceramics, Massachusetts.

Shareholding Pattern:

Shareholding Pattern of ICL in the last 3 years. 1. As on 31.03.2016 2. As on 31.03.2017 3. As on 31.03.2018 4. As on 30.09.2018

Financials of India Carbon Limited Unlisted Shares:

Particulars( in Rs)	2016	2017	2018
Revenue from Operations	1,90,41,30,361	1,42,25,11,967	3,42,95,25,229
Other Income	1,69,84,456	23,01,79,265	9,33,43,475
Total Income	1,92,11,14,817	1,65,26,91,232	3,52,28,68,704
Total Expense	1,91,99,89,814	1,42,12,23,175	2,49,88,03,245
PAT	20,29,869	18,87,90,840	79,31,26,011
EPS	0.72	71.24	299.29

Management Review of Financial Performance of the company in FY17-18 1. During the financial year ended 31.03.2018, the Company has achieved a gross revenue from operation amounting to 342.95 Crore as against 142.25 Crore in the last financial year, an increase of 141.09 % as compared to the previous financial year. 2. Production of Calcined Petroleum Coke (CPC) during the year was 85,789MT as against 60,432 MT in the previous year and Electrode Carbon Paste (ECP) production was 4,622MT as against 4,331MT in the previous year, an increase of 41.96% & 6.72% respectively. 3. Further, Sales of CPC for the year under review was 82,470 MT as against 57,248 MT in the previous year, an increase of 44.06%. ECP sales were 4,622 MT as against 4,269 MT in the previous year, an increase of 8.27%. 4. During the year, both production and sales of CPC, which is the main constituent of your Company’s turnover significantly increased as compared to the previous year, resulting in lower cost of production due to much better capacity utilization, leading to increased sales due to additional production, as well as many improved prices. 5. During the year, the demand from all the consuming sectors, primarily, Aluminum, Steel and especially Graphite Electrodes increased due to pick up in the economy, as well as due to massive curtailment in production caused by large-scale shutting up of polluting industries in China. UZ Review of India Carbon Limited 1. The Company has shown excellent performance in terms of Revenue and Profitability in the last 3 years. 2. The company has Debt of 62 Cr against a Net Worth of 157 Cr. So the company has reasonable Debt/Net Worth= 0.39 3. The company has outstanding shares of 26.5 lakh as on 31.03.2018. The company has total Profit of 79 Cr in FY18. So EPS is 299. 4. The EBITDA Margins are 30% in FY18 as compared to 16% in FY17. 5. The PAT Margins are 22% in FY18 as compared to 11% in FY17. 6. The ROE for FY18 is 50% which is almost doubled as compared to FY17.

Annual Report 2018

Annual Report 2017

Annual Report 2016

Company Address:

Temple Chambers, 4th Floor 6, Old Post Office Street Kolkata - 700 001 CIN : L23101AS1961PLC001173

Discussion on India Carbon Limited Unlisted Shares:

In view of handsome profit earned by the Company during the F.Y as compared to previous years, the directors are happy to recommend payment of dividend to the equity shareholders @150% i.e ` 15/- per equity share of 10/- each for the F.Y 2017-18 after payment of dividend distribution tax as may be applicable.

The most problematic issue in the carbon industry is Pollution. We have seen in the past goverment has shut down plants due to rising pollution from carbon companies. China last year has shut down electrode making companies and steel making companies which contribute pollution and instructed to switch to newer technology which produces less pollution.

However, over the years the ICL is one of the few Companies to go beyond the required norms for the betterment of the environment. Conservation of energy and water resources has forever been a key objective for the Company. Moreover, the installation of high-end Gas Cleaning Systems has ensured that industrial pollution is kept to a minimum and is causing no damage to the environment.

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