The facility has been set-up by PCBL (TN), a wholly owned subsidiary of the company.

PCBL (formerly Phillips Carbon Black), a part of RP-Sanjiv Goenka Group, is India's largest carbon black producer and exporter.

The company's consolidated net profit declined 13.5% to Rs 109.17 crore on 4.4% fall in net sales to Rs 1,347.52 crore in Q1 FY24 over Q1 FY23.

The scrip slipped 7.57% to Rs 160.55 on the BSE.