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PCBL to select site for south India plant by March, net profit up 92 pc in Q3 (Lead)
Kolkata, Jan 16 (IANS) RP-Sanjiv Goenka Group’s Phillips Carbon Black Ltd (PCBL) will freeze the location of its proposed Rs 600-crore Greenfield project in south India by March, an official said on Wednesday.
The company has been discussing with Tamil Nadu, Andhra Pradesh and Telangana for setting up the plant which will have a capacity of 1,50,000 tonne per annum.
“We still have to freeze the location of the Greenfield plant in south India. We have not taken a final call yet. Discussions are on with various state governments in southern India. We will freeze the location by March,” said Group’s Chairman Sanjiv Goenka.
The company on Wednesday reported a 92 per cent increase in its net profit to Rs 108.58 crore in the quarter ended December 31, 2018 from Rs 56.59 crore in the corresponding period previous year. It also posted a revenue of Rs 949.99 crore in the December quarter, up 54 per cent from Rs 618.56 crore in the year-ago period.
Speaking on the performance in the quarter, he said the improvement in net profit was on account of a shift in product mix to more value-added premium grades and improved efficiency in all function.
Goenka said the additional 56,000-tonne capacity at Mundra in Gujarat has been commissioned and capacity expansion of 30,000 tonne at Palej in the western state is expected to be completed by third quarter of FY20 (2019-20).
He said the company is focussing on value-added and speciality products.
“As we go ahead, 15 per cent of our total capacity will move towards value-added and speciality black in about two years from the present (proportion of) about 7-8 per cent,” he said.
The company has set up a R&D centre at Palej, Goenka said.
“We will have an R&D centre internationally and by July-September, we will finalise the country where it will be set up,” he added.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.