Post recent raw material mobilization, company’s operations are in full swing. Company is sitting on sale order of 50,000 tonne and hopeful of capacity utilization of 96 percent in Q4. End market demand, particularly in aluminum industry (80 percent of sales) remains intact.
We expect growth in CY19 to be led by volume improvement in carbon segment and pricing gains in the advance material segment
The company is hopeful of a positive outcome from the October 9 hearing in the Supreme Court as the petcoke is used as feedstock in the industry and not as fuel.
In case of other businesses, chemical business (16 percent of FY17 sales) witnessed lower volumes sequentially due to decline in chemical trading business as the company is reducing the share of low margin trading operations.
Rain Commodities announced its Q3CY11 results and approved a buyback of Rs 1 crore fully paid up equity shares. Chief financial officer T Srinivasa Rao expects the profits to be upwards of Rs 100 crore each quarter. The company plans to list its CPC business by second half of FY12.
T Srinivasa Rao, CFO, Rain Commodities, talks to CNBC-TV18 about the company’s plans to list its Calcine Petroleum Coke (CPC) business on the bourses. The segment contributes 80% to revenues and operating margins, he says.