PCBL Chemical Ltd logo

PCBL Chemical Ltd

PCBL NSE

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]

AI Verdict: HOLD Confidence: 5%

PCBL Chemical trades at an elevated PE of 61.1x with a sharp 50% TTM profit decline, making the valuation hard to justify near-term. However, the 10-year profit CAGR of 31% and healthy 69.8% dividend payout suggest long-term business quality, warranting a hold for existing investors rather than fresh entry.

Key Fundamentals

MicrocapCarbon BlackChemicals
Market Cap
₹12,309 Cr
Volatility
Moderate
P/E Ratio
61.16
EBITDA
₹1,018 Cr
Return on Equity
15.11%
Debt to Equity
1.52
Book Value
₹101.82
EPS
₹13.24
52W High
₹437.3
52W Low
₹226.5

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 3d ago
HOLD
Risk high

PCBL Chemical trades at an elevated PE of 61.1x with a sharp 50% TTM profit decline, making the valuation hard to justify near-term. However, the 10-year profit CAGR of 31% and healthy 69.8% dividend payout suggest long-term business quality, warranting a hold for existing investors rather than fresh entry.

Bull Case 7
  • Strong long-term wealth creation with 10-year stock CAGR of 36%, significantly outperforming broader indices
  • Healthy dividend payout ratio of 69.8% demonstrates shareholder-friendly capital allocation and management confidence in cash flows
  • Compounded sales growth of 25% over 5 years reflects solid revenue scaling ability
  • 10-year compounded profit growth of 31% shows the business has delivered robust earnings expansion over a full cycle
  • Improvement in debtor days from 79.1 to 62.2 days indicates better working capital management and collection efficiency
  • Current dividend yield of 1.96% provides reasonable income cushion in a commodity business during a downcycle
  • 5-year stock CAGR of 22% despite recent correction suggests underlying business momentum remains intact over medium term
Bear Case 8
  • TTM compounded profit has declined 50%, signaling severe earnings deterioration in the current cycle
  • PE ratio of 61.1x is extremely stretched for a commodities business, pricing in recovery that may not materialize quickly
  • 3-year compounded profit CAGR of -21% shows earnings destruction is not a one-quarter anomaly but a sustained trend
  • Last year ROE collapsed to just 6% versus 14% 10-year average, indicating poor capital efficiency in the current environment
  • Stock is trading at 3.02x book value which is expensive for a commodity company with declining returns
  • Low interest coverage ratio suggests stretched balance sheet and vulnerability to rising interest rates
  • TTM sales growth of -3% indicates top-line has turned negative, raising concerns about demand or pricing headwinds
  • 1-year stock return of -21% reflects market loss of confidence, with only 20% analysts recommending a buy

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

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Headwinds 2
  • Q4 net profit drops 60% YoY Jun 12

    PCBL Chemical reported a 59.8% YoY decline in Q4 FY26 net profit to ₹40.25 crore vs ₹100.2 crore in Q4 FY25. Revenue also fell marginally to ₹2,066.06 crore from ₹2,087.49 crore.

  • Stock down 4% year-to-date Jun 12

    Despite recent gains, the stock has declined 4% YTD and hit a 52-week low of ₹226.50 on March 24, 2026, well below its 52-week high of ₹437.30 on July 10, 2025.

Positives 3
  • 20,000 MTPA Mundra line commissioned Jun 12

    PCBL commissioned a new specialty production line at Mundra with 20,000 MTPA capacity on June 11, 2026, raising total specialty capacity to 132 KT from 112 KTPA which was running at 95% utilisation.

  • Shares rally 4% on expansion Jun 12

    PCBL shares climbed 4% following the capacity expansion announcement, trading at ₹284.10 per share with a market cap of ₹11,184.17 crore as of June 12, 2026.

  • Battery chief Vaneet Kumar appointed Jun 9

    PCBL appointed Vaneet Kumar as Chief – Batteries and Executive Director effective June 9, 2026, bringing 20+ years of energy storage and battery technology experience.

Neutral 5
  • Rainbow holds 18.66 cr shares unencumbered May 28

    Rainbow Investments held 18,66,30,740 shares of PCBL Chemical as of March 31, 2026, confirming no encumbrance during FY26.

  • STEL Holdings confirms no encumbrance Jun 9

    STEL Holdings declared holding 41,03,830 shares in PCBL Chemical as of March 31, 2026 with no encumbrance during FY26.

  • Lebnitze confirms no share encumbrance Jun 22

    Lebnitze Real Estates held 82,640 shares in PCBL Chemical as of March 31, 2026, reporting no encumbrance during FY26.

  • Digidrive holds 1,000 shares unencumbered Jun 12

    Digidrive Distributors declared no encumbrance on 1,000 equity shares of PCBL Chemical as of March 31, 2026.

  • Saregama declares nil PCBL holding Jun 6

    Saregama India disclosed holding NIL shares in PCBL Chemical as of March 31, 2026, confirming no encumbrance during FY26.

TL;DR: PCBL Chemical is investing aggressively in specialty capacity expansion (Mundra 20,000 MTPA line taking total to 132 KT) and diversifying into batteries with a senior hire, signalling a clear value-added pivot. However, Q4 FY26 profitability collapsed 60% YoY despite stable revenues, raising margin concerns. The stock remains well below its 52-week high with a 4% YTD decline. Near-term trajectory depends on whether the new specialty capacity translates into margin recovery in FY27.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,374
1,348
1,487
1,657
1,929
2,144
2,163
2,010
2,087
2,114
2,164
1,846
2,066
Expenses
1,190
1,137
1,249
1,378
1,619
1,785
1,800
1,693
1,790
1,795
1,897
1,631
1,823
Operating Profit
184
211
238
279
310
358
364
317
298
319
266
215
243
OPM %
13%
16%
16%
17%
16%
17%
17%
16%
14%
15%
12%
12%
12%
Other Income
17
4
3
7
23
11
6
11
20
6
12
-5
0
Interest
19
19
21
32
108
121
119
118
103
112
107
106
97
Depreciation
34
41
48
53
75
84
86
87
88
92
93
94
94
PBT
148
154
172
201
149
164
164
124
126
120
78
10
52
Tax %
31%
29%
28%
26%
26%
28%
25%
25%
21%
22%
21%
80%
23%
Net Profit
102
109
123
148
111
118
123
93
100
94
62
2
40
EPS in Rs
2.71
2.89
3.25
3.92
2.95
3.13
3.27
2.47
2.65
2.49
1.63
0.05
1.02
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
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
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
Operating Profit
151
165
265
383
616
465
517
653
731
1,037
1,337
1,043
OPM %
6%
9%
14%
15%
17%
14%
19%
15%
13%
16%
16%
13%
Other Income
14
16
12
23
20
28
19
28
41
37
47
14
Interest
95
72
51
41
37
46
34
29
53
181
461
423
Depreciation
58
62
61
61
66
92
110
121
137
217
346
373
PBT
12
47
165
304
533
355
392
532
582
676
577
261
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
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
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 Mar 2026
Promoters 53.38%
Public 22.67%
DIIs 10.98%
Others 6.22%
FIIs 5.56%
Government 1.19%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Oct 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Nov 2025Dec 2025Mar 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%
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%
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%
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%
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%
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%
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

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 Commodities sector within the Chemicals & Petrochemicals 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 ₹12309.48 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 61.16. 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 ₹437.3. 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 1.90%. 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 15.11%. 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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