Phillips Carbon Black Limited (PCBL) is an India -based company engaged in the manufacture and sale of carbon black, which is used by the rubber industry. The Company operates through two segments: Carbon black and Power. Carbon black is a filler used in rubber compounds. It also manufactures customized blacks for specialized applications and specialty blacks for non-rubber applications, such as films, pipes, automotive, fiber and ink. The Company also produces and sells excess electric power generated from the low calorific value off gas, which is generated in the process of manufacture of carbon black. The power generation process involves recovery and utilization of the thermal energy of the process waste gas (tail gas) being produced from carbon black manufacturing process. This waste heat/ gas is utilized to generate steam, which in turn is used to generate electrical energy. PCBL has 76 megawatts (MW) of power generation capacity.