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PCBL Chemical Ltd

PCBL NSE

Key Fundamentals

MicrocapCarbon BlackChemicals
Market Cap
₹12,656 Cr
Volatility
Moderate
P/E Ratio
49.18
EBITDA
₹1,018 Cr
Return on Equity
11.72%
Debt to Equity
1.25
Book Value
₹101.82
EPS
₹13.24
52W High
₹425.95
52W Low
₹226.5

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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46 extracted metrics + investor summaries across FY14–FY26.

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Technical Indicators

Key Insights

Strengths

2
  • Company has been maintaining a healthy dividend payout of 69.8%
  • Debtor days have improved from 79.1 to 62.2 days.

Weaknesses

3
  • Stock is trading at 3.10 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 11.0% over last 3 years.

Growth Rate

Revenue Growth
-3.10% ↘
Net Income Growth
-59.47% ↘
Cash Flow Change
-31.20% ↘
ROE
-22.44% ↘
ROCE
25.09% ↘
EBITDA Margin (Avg.)
-24.48% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk high

PCBL Chemical Ltd is a leading Indian carbon black manufacturer with a market cap of ₹12,473 crore, trading at a PE of 48.1x. The company has delivered a 10-year profit CAGR of 31% but recent profitability has deteriorated sharply with TTM profit declining 36% and ROE falling to 6% in the last year. Revenue growth has nearly stalled at 2% TTM even as the company pursues aggressive capacity expansion toward 850,000+ MTPA.

Bull Case 7
  • Strong long-term wealth creation with 10-year stock CAGR of 32% and 10-year compounded profit growth of 31%
  • Aggressive capacity expansion underway — total carbon black capacity rising from 770,000 MTPA to 850,000+ MTPA with 90,000 MTPA addition in Tamil Nadu and 60,000 MT brownfield line commissioned in Jan 2026
  • Healthy dividend payout ratio of 69.8% with a current dividend yield of 1.42%, indicating shareholder-friendly capital allocation
  • Improving working capital efficiency with debtor days reducing from 79.1 to 62.2 days, freeing up cash flow
  • Specialty Blacks capacity expanded to 112,000 MTPA, targeting higher-margin products including superconductive grades
  • Diversification via Aquapharm (water treatment and homecare chemicals) with 9% YoY revenue growth and 38,000 TPA expansion commissioned
  • Compounded sales growth of 25% over 5 years and 16% over 10 years demonstrates consistent top-line scaling ability
Bear Case 8
  • TTM profit declined 36% year-over-year, signaling significant margin pressure in the core carbon black business
  • PE ratio of 48.1x is expensive for a commodity chemicals company whose 3-year ROE averages only 11%
  • Last year ROE collapsed to just 6%, well below the 3-year average of 11% and 10-year average of 14%
  • 3-year compounded profit growth is negative at -21%, showing sustained earnings deterioration not just a one-quarter blip
  • Stock is trading at 3.11x book value despite declining returns on equity, indicating potential overvaluation risk
  • Low interest coverage ratio suggests elevated financial risk as the company funds aggressive capacity expansion
  • Stock has delivered -17% return over the past 1 year, underperforming broader markets significantly
  • FY26 full-year EBITDA fell to ₹1,081 crore from ₹1,384 crore in FY25, a 22% decline even as revenue was ₹8,190 crore vs ₹8,404 crore

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2d ago
Headwinds 1
  • GST penalty for vehicle detention Aug 1

    PCBL Chemical received a ₹6,08,400 penalty from Assistant Excise and Taxation Officer, Sonipat under Section 129(3) of GST Act, 2017 for vehicle detention. A minor compliance issue with negligible financial impact.

Positives 2
  • Q1FY27 PAT surges 65% Jul 31

    Consolidated PAT jumped 65% to ₹155 crore on 17% revenue growth to ₹2,474 crore in Q1FY27. Standalone PAT rose 15% to ₹107 crore, and the company declared an interim dividend of ₹4.50 per share with record date August 4, 2026.

  • ₹200 crore CP repaid on time Jul 22

    PCBL Chemical repaid ₹200 crore commercial paper on July 22, 2026, in accordance with issuance terms, signalling healthy liquidity and debt management.

Neutral 2
  • Independent Director exits board Jul 25

    R K Agarwal ceased as Independent Director on July 25, 2026, completing his term. Umang Kanoria joined the Audit Committee as replacement.

  • Q1 earnings call scheduled Jul 24

    PCBL Chemical scheduled its Q1 earnings call for July 29 at 5 PM. No financial figures were released ahead of the call.

TL;DR: PCBL Chemical delivered a strong Q1FY27 with 65% consolidated PAT growth and healthy revenue expansion, backed by prudent capital management evident in timely CP repayment. The GST penalty is negligible at ₹6 lakh and poses no material risk. Board reconstitution is routine. The trend is clearly improving with robust earnings momentum heading into FY27.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,348
1,487
1,657
1,929
2,144
2,163
2,010
2,087
2,114
2,164
1,846
2,066
2,473
Expenses
1,137
1,249
1,378
1,619
1,785
1,800
1,693
1,790
1,795
1,897
1,631
1,823
2,078
Operating Profit
211
238
279
310
358
364
317
298
319
266
215
243
396
OPM %
16%
16%
17%
16%
17%
17%
16%
14%
15%
12%
12%
12%
16%
Other Income
4
3
7
23
11
6
11
20
6
12
-5
0
4
Interest
19
21
32
108
121
119
118
103
112
107
106
97
93
Depreciation
41
48
53
75
84
86
87
88
92
93
94
94
103
PBT
154
172
201
149
164
164
124
126
120
78
10
52
204
Tax %
29%
28%
26%
26%
28%
25%
25%
21%
22%
21%
80%
23%
24%
Net Profit
109
123
148
111
118
123
93
100
94
62
2
40
155
EPS in Rs
2.89
3.25
3.92
2.95
3.13
3.27
2.47
2.65
2.49
1.63
0.05
1.02
3.94
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,470
1,894
1,927
2,558
3,529
3,244
2,660
4,446
5,774
6,420
8,404
8,189
8,549
Expenses
2,319
1,729
1,662
2,175
2,912
2,778
2,143
3,793
5,043
5,383
7,067
7,146
7,429
Operating Profit
151
165
265
383
616
465
517
653
731
1,037
1,337
1,043
1,119
OPM %
6%
9%
14%
15%
17%
14%
19%
15%
13%
16%
16%
13%
13%
Other Income
14
16
12
23
20
28
19
28
41
37
47
14
12
Interest
95
72
51
41
37
46
34
29
53
181
461
423
403
Depreciation
58
62
61
61
66
92
110
121
137
217
346
373
384
PBT
12
47
165
304
533
355
392
532
582
676
577
261
345
Tax %
14%
66%
58%
24%
28%
19%
20%
20%
24%
27%
25%
24%
—
Net Profit
10
16
69
230
383
288
314
426
442
491
435
198
259
EPS in Rs
0.31
0.46
2.01
6.64
11.13
8.31
9.1
11.29
11.7
13.01
11.51
5.03
6.64
Div. Payout %
32%
54%
30%
11%
16%
42%
38%
44%
47%
42%
48%
119%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
34
34
34
34
34
34
34
38
38
38
38
39
Reserves
473
1,010
1,096
1,343
1,615
1,665
1,901
2,576
2,792
3,209
3,660
3,967
Borrowings
1,220
1,022
758
717
793
617
724
786
1,029
4,983
5,571
4,989
Other Liabilities
285
524
691
776
944
995
1,067
1,385
1,573
3,066
2,453
2,299
Total Liabilities
2,012
2,590
2,580
2,871
3,387
3,311
3,726
4,785
5,433
11,295
11,722
11,295
Fixed Assets
851
1,416
1,388
1,399
1,500
1,640
1,742
1,934
1,968
6,892
6,595
7,145
CWIP
80
80
80
67
175
306
267
175
1,130
433
732
566
Investments
86
228
291
316
362
155
196
588
234
433
516
464
Other Assets
995
867
822
1,090
1,350
1,210
1,521
2,087
2,101
3,537
3,879
3,119
Total Assets
2,012
2,590
2,580
2,871
3,387
3,311
3,726
4,785
5,433
11,295
11,722
11,295
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
35
422
346
293
290
532
385
290
504
1,105
760
1,576
Investing
-68
-121
-36
-34
-278
-107
-203
-541
-552
-4,214
-690
-675
Financing
34
-262
-337
-110
-70
-389
-180
217
-31
3,381
-64
-990
Net Cash Flow
1
39
-27
148
-58
36
3
-34
-78
272
6
-89
Free Cash Flow
2
388
306
198
58
301
271
-16
-392
573
-4
851
CFO/OP
24
262
143
94
68
129
87
60
92
127
70
158
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
77
84
88
74
68
66
97
91
70
97
78
62
Inventory Days
56
66
72
68
73
54
101
70
48
82
80
65
Days Payable
28
74
123
88
81
70
134
106
80
147
100
92
Cash Conversion Cycle
105
77
37
54
60
51
64
55
38
32
57
35
Working Capital Days
-34
-80
-57
-34
-1
-4
15
17
4
-11
-24
-40
ROCE %
6%
6%
11%
17%
25%
16%
17%
18%
17%
14%
12%
8%

Shareholding Pattern

As of Jun 2026
Promoters 53.38%
Public 22.12%
DIIs 11.27%
Others 6.24%
FIIs 5.79%
Government 1.19%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Oct 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Nov 2025Dec 2025Mar 2026Jun 2026
Promoters
53.56%
53.56%
55.69%
50.85%
51.38%
51.38%
51.38%
51.41%
51.41%
51.41%
51.41%
51.41%
51.41%
51.41%
51.41%
51.41%
51.41%
51.41%
51.41%
51.41%
51.41%
53.38%
53.38%
53.38%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
7.07%
7.12%
6.68%
5.29%
5.00%
5.23%
5.59%
5.52%
6.07%
6.07%
5.68%
5.56%
5.79%
DIIs
1.50%
1.89%
2.02%
4.65%
4.66%
5.08%
5.97%
4.92%
7.15%
7.39%
8.05%
7.77%
6.24%
5.61%
6.40%
6.79%
6.69%
8.93%
9.88%
10.77%
10.77%
10.19%
10.98%
11.27%
Government
1.36%
1.36%
1.36%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.24%
1.19%
1.19%
1.19%
Public
26.27%
27.39%
26.96%
24.73%
26.99%
26.75%
25.92%
25.71%
25.88%
27.21%
26.06%
26.71%
27.02%
27.45%
27.94%
26.63%
26.55%
24.99%
24.41%
23.82%
23.82%
23.04%
22.67%
22.12%
Others
17.31%
15.79%
13.97%
18.53%
15.73%
15.55%
15.48%
16.72%
14.32%
12.75%
13.25%
5.81%
6.97%
7.62%
7.72%
8.94%
8.88%
7.85%
7.54%
6.69%
6.69%
6.52%
6.22%
6.24%
No. of Shareholders
0
1,11,987
1,30,420
1,33,894
1,35,723
1,51,560
1,52,820
1,63,438
1,54,317
1,64,052
1,73,347
1,88,648
2,18,524
2,41,489
2,40,162
2,77,335
3,03,531
2,92,570
2,87,329
2,85,546
2,85,546
2,81,584
2,84,488
2,75,244

Documents

1
Concall - Apr 2017 Apr 2017
2
Concall - Jun 2017 Jun 2017
3
Concall - Sep 2017 Sep 2017
4
Concall - Nov 2017 Nov 2017
5
Concall - Feb 2018 Feb 2018

Frequently Asked Questions about PCBL Chemical Ltd

What does PCBL Chemical Ltd do?
Incorporated in 1960, Company is a part of RP‑Sanjiv Goenka Group and is in the business of production of Carbon Black, speciality chemical and generation of electricity for the purpose of captive consumptions and sale of surplus to outsiders.[1]
Where is PCBL Chemical Ltd (PCBL) listed?
PCBL Chemical Ltd is listed on the Indian stock exchanges. It is listed on NSE: PCBL and BSE: 506590. You can view its live share price, financials, and ratios on Tapetide.
Which sector does PCBL Chemical Ltd belong to?
PCBL Chemical Ltd operates in the Chemicals sector within the Carbon Black industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of PCBL Chemical Ltd?
PCBL Chemical Ltd has a market capitalisation of approximately ₹12655.72 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of PCBL Chemical Ltd?
The Price-to-Earnings (PE) ratio of PCBL Chemical Ltd is 49.18. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of PCBL Chemical Ltd?
Over the past 52 weeks, PCBL Chemical Ltd has traded between a low of ₹226.5 and a high of ₹425.95. This range helps investors understand the stock's price volatility and recent trading levels.
Does PCBL Chemical Ltd pay dividends?
Yes, PCBL Chemical Ltd has a dividend yield of 1.43%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of PCBL Chemical Ltd?
PCBL Chemical Ltd has a Return on Equity (ROE) of 11.72%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research PCBL Chemical Ltd on Tapetide?
On Tapetide, you can view PCBL Chemical Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Incorporated in 1960, Company is a part of RP‑Sanjiv Goenka Group and is in the business of production of Carbon Black, speciality chemical and generation of electricity for the purpose of captive consumptions and sale of surplus to outsiders.[1]

Website pcblltd.com
Listed 1995-03-29
Face Value ₹ 1
Issued Size 39,34,62,604

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