PCBL Chemical Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2024 • Carbon Black: 97.1% • Power: 2.9%
AI Sector View
AI GENERATEDChemicals
The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.
PROS
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.12x)
- Company has delivered good sales growth of 16.0% CAGR over last 5 years
- Working capital cycle has improved - days down from -8 to -30
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Recent results are weak - TTM profit is down 34.4% versus prior year
- A large part of profit comes from other income (25.4% of PBT)
- Company has delivered a poor profit growth of -5.5% over past five years
- Growth is decelerating - 3Y profit CAGR (-19.0%) trails the 5Y trend (-5.5%)
- Dividend payout exceeds earnings (100.1%) - may be unsustainable
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HSCL | 663.80 | 41.91 | 33493.63 | 0.12 | 228.43 | 27.36 | 1431.88 | 28.04 | 22.42 | 20.11 |
| PCBL | 334.95 | 50.93 | 13179.03 | 1.79 | 154.93 | 64.64 | 2473.37 | 17.00 | 7.64 | 15.99 |
| GOACARBON | 439.30 | 44.14 | 402.01 | 0.00 | -6.58 | 17.18 | 65.70 | -67.02 | -4.49 | -6.71 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,297 | 1,398 | 1,485 | 1,493 | 1,491 | 1,536 | 1,430 | 1,448 | 1,453 | 1,478 | 1,274 | 1,371 | 1,653 | |
| 1,086 | 1,164 | 1,231 | 1,227 | 1,224 | 1,263 | 1,186 | 1,233 | 1,227 | 1,298 | 1,122 | 1,214 | 1,509 | |
| Operating Profit | 211 | 235 | 254 | 266 | 267 | 273 | 244 | 215 | 226 | 180 | 151 | 157 | 144 |
| OPM % | 16.27% | 16.78% | 17.13% | 17.83% | 17.94% | 17.79% | 17.08% | 14.83% | 15.55% | 12.15% | 11.89% | 11.46% | 8.72% |
| 3 | 1 | 4 | 23 | 7 | 2 | 8 | 22 | 7 | 6 | 6 | 7 | 4 | |
| Interest | 18 | 17 | 22 | 69 | 73 | 69 | 67 | 69 | 68 | 65 | 64 | 56 | 49 |
| Depreciation | 35 | 38 | 38 | 40 | 38 | 39 | 39 | 41 | 41 | 41 | 42 | 41 | 45 |
| Profit before Tax | 162 | 181 | 198 | 180 | 164 | 168 | 146 | 127 | 125 | 80 | 51 | 66 | 148 |
| Tax % | 27.02% | 26.92% | 26.88% | 23.26% | 29.15% | 23.12% | 23.86% | 25.12% | 25.52% | 25.30% | 28.86% | 29.10% | 27.68% |
| Net Profit | 118 | 132 | 144 | 138 | 116 | 129 | 111 | 95 | 93 | 60 | 36 | 47 | 107 |
| 3.13 | 3.51 | 3.83 | 3.67 | 3.08 | 3.42 | 2.94 | 2.51 | 2.47 | 1.58 | 0.93 | 1.20 | 2.73 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,927 | 2,558 | 3,529 | 3,244 | 2,660 | 4,446 | 5,874 | 5,674 | 5,905 | 5,576 | 5,777 | |
| 1,687 | 2,179 | 2,908 | 2,783 | 2,153 | 3,822 | 5,154 | 4,746 | 4,941 | 4,905 | 5,144 | |
| Operating Profit | 240 | 379 | 621 | 460 | 507 | 624 | 720 | 928 | 964 | 671 | 632 |
| OPM % | 12.45% | 14.80% | 17.59% | 14.18% | 19.06% | 14.03% | 12.26% | 16.35% | 16.33% | 12.04% | 10.95% |
| 38 | 27 | 21 | 29 | 27 | 58 | 55 | 70 | 75 | 69 | 23 | |
| Interest | 51 | 41 | 37 | 46 | 34 | 29 | 53 | 126 | 278 | 253 | 234 |
| Depreciation | 61 | 61 | 66 | 92 | 110 | 121 | 137 | 151 | 157 | 165 | 170 |
| Profit before Tax | 166 | 304 | 539 | 351 | 390 | 532 | 585 | 721 | 604 | 322 | 345 |
| Tax % | 58.00% | 24.37% | 27.89% | 19.20% | 20.00% | 19.76% | 24.07% | 26.02% | 25.35% | 26.73% | 27.58% |
| Net Profit | 70 | 230 | 389 | 283 | 312 | 427 | 444 | 533 | 451 | 236 | 250 |
| EPS | 4.03 | 13.33 | 22.54 | 16.45 | 9.06 | 11.84 | 11.76 | 14.13 | 11.95 | 5.99 | — |
| Dividend Payout % | 29.75% | 18.00% | 15.52% | 42.56% | 38.63% | 44.19% | 46.75% | 38.93% | 46.03% | 100.12% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 11%
- 5 Years:
- 16%
- 3 Years:
- -2%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 30%
- 5 Years:
- -5%
- 3 Years:
- -19%
STOCK PRICE CAGR
- 10 Years:
- 30%
- 5 Years:
- 22%
- 3 Years:
- 27%
- 1 Year:
- -16%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 14%
- 3 Years:
- 12%
- Last Year:
- 6%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 34 | 34 | 34 | 34 | 34 | 38 | 38 | 38 | 38 | 39 |
| 1,091 | 1,338 | 1,614 | 1,657 | 1,893 | 2,567 | 2,782 | 3,241 | 3,593 | 4,012 | |
| 758 | 717 | 793 | 721 | 714 | 775 | 767 | 2,723 | 3,151 | 2,454 | |
| Trade Payables | 414 | 402 | 508 | 419 | 592 | 911 | 950 | 1,436 | 1,220 | 989 |
| 433 | 600 | 785 | 882 | 962 | 1,059 | 1,120 | 1,572 | 1,898 | 1,798 | |
| Total Liabilities | 2,731 | 3,091 | 3,735 | 3,713 | 4,195 | 5,349 | 5,657 | 9,010 | 9,900 | 9,292 |
| 1,383 | 1,395 | 1,496 | 1,635 | 1,712 | 1,903 | 1,934 | 2,102 | 2,235 | 2,291 | |
| Capital Work in Progress | 74 | 67 | 175 | 306 | 267 | 129 | 285 | 163 | 206 | 250 |
| 309 | 337 | 384 | 177 | 220 | 783 | 1,005 | 3,675 | 3,992 | 3,976 | |
| 244 | 310 | 460 | 326 | 445 | 604 | 486 | 563 | 769 | 642 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,287 | 1,268 | 800 | |
| Cash & Bank | 24 | 134 | 76 | 111 | 219 | 109 | 42 | 169 | 215 | 54 |
| 698 | 849 | 1,144 | 1,158 | 1,332 | 1,821 | 1,904 | 1,051 | 1,214 | 1,280 | |
| Total Assets | 2,731 | 3,091 | 3,735 | 3,713 | 4,195 | 5,349 | 5,657 | 9,010 | 9,900 | 9,292 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 381 | 329 | 418 | 599 | 451 | 425 | 888 | 972 | 565 | 1,053 | |
| Cash from Investing | -36 | -40 | -279 | -110 | -200 | -548 | -508 | -2,665 | -493 | -267 |
| Cash from Financing | -337 | -110 | -70 | -389 | -180 | 217 | -281 | 1,819 | -26 | -947 |
| -26 | 111 | -59 | 34 | 6 | -10 | -67 | 126 | 46 | -162 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-04 - PCBL Chemical Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the month of August, 2026
2026-08-26 - PCBL Chemical Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-25 - PCBL Chemical Limited has informed the Exchange regarding 'Submission of Business Responsibility and Sustainability Report for FY 2025-26'.
2026-08-25 - PCBL Chemical Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 22, 2026
2026-08-21 - PCBL Chemical Limited has informed the Exchange about Appointment of Mr. RohitMaindwal as Chief & Executive Director Specialty Blacks
2026-08-18 - PCBL Chemical Limited has informed the Exchange regarding 'Re-lodgement of Transfer Requests of Physical Shares for the month of July, 2026'.
2026-08-18 - PCBL Chemical Limited has informed the Exchange about approval received under the Electronics Components Manufacturing Scheme (ECMS) for its Acetylene Black Project
2026-08-06 - PCBL Chemical Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the month of July, 2026
2026-08-05 - PCBL Chemical Limited has informed the Exchange about Transcript
News
Recent coverage and analyst commentary for PCBL
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