Balkrishna Industries said that it has completed the capex for 30,000 MTPA of high value of advanced carbon material and commissioned the plant.
In February 2021, the board of the company had approved a proposal to to enhance the installed capacity of carbon from achievable capacity 115,000 MTPA to 200,000 MTPA.
The proposal also involved setting up 30,000 MTPA capacity of high value of advanced carbon material and an additional power plant capacity of 20 MW.
The estimated capex cost of the project was Rs 650 crore.
The project was undertaken taking into consideration the overall demand / supply outlook as well as internal demand of carbon black.
Balkrishna Industries is engaged in the business of manufacturing and selling of off-highway tyres (OHT) in the specialist segments such as agricultural, industrial & construction, earthmovers & port, mining, forestry, lawn & garden and all terrain vehicles (ATV).
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The company had reported standalone net profit of Rs 477.29 crore in Q1 FY25, registering a growth of 52.84% as against Rs 312.28 crore posted in Q1 FY24. Revenue from operations jumped 26.86% to Rs 2,689.53 crore in the quarter ended June 2024 as compared with Rs 2,120.02 crore posted in the same period last year.
The scrip rose 0.16% to currently trade at Rs 3092.35 on the BSE.
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