Rain Industries, one of the largest manufacturers of carbon products in the world, reported stellar numbers aided by higher product pricing trends. the company’s result underlines a sequential surge in price realizations which augurs well for companies like Himadri Specialty Chemical and Goa Carbon.Quarterly updateClose For Rain industries, net sales growth of 36 percent was mainly aided by higher realization (+29 percent YoY) and higher volumes (+10 percent) in carbon business (71 percent of the 2016 sales). Key sub segments of the carbon business – CPC (calcined petroleum coke) and CTP (coal tar pitch) witnessed improved pricing due to structural changes in supply and improving demand scenario for the end market – aluminum and graphite. This resulted in higher EBITDA margin (+435 bps QoQ, +184 bps YoY) for the company. related news Drug price increase: Who gains big, what it means for the industry Q3 FY20 advance corporate tax collection slips 5.2%, income tax cuts uncertain: Report NCLAT judgement over Cyrus Mistry’s removal as Tata Group Chairman today In case of other businesses, the chemical business (19 percent of sales) witnessed lower volumes sequentially due to decline in chemical trading business wherein the company is reducing the share of low margin… Read full this story
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