Pcbl Chemical Limited (PCBL)

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Pcbl Chemical Limited (PCBL) · mywealthgrid

About

PCBL Chemical Limited manufactures Carbon Black, a key industrial chemical for tire, plastic, and coating applications. With ₹12,190.63 Cr market cap and quarterly revenues ₹1,300–2,500 Cr, it is a mid-cap player in India's materials sector, maintaining operating margins of 12–16%.

Face value: ₹1

Market cap

₹12,651 Cr

P/E

48.9×

P/B

3.2×

Dividend yield

3.3%

ROE

5.1%

ROCE

9.1%

Debt / equity

1.2

OPM

12.7%

EPS (TTM)

₹6.6

Book value

₹101.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

High PE 47.11 against ROE 5.14% creates valuation risk if earnings growth disappoints or margins compress under cost pressure

Earnings volatility across quarters (Dec 2025 net profit ₹2.02 Cr vs Sep 2025 ₹59.63 Cr) creates uncertainty and limits visibility

Moderate-to-high leverage at D/E 1.2 amplifies downside risk in a cyclical downturn or if raw material costs spike

Sector-typical cyclicality tied to automobile and industrial production — verify end-market health and demand visibility

Generated analysis · source review pending

Growth drivers

Stable operating margins at 12.74% (recent range 11.46–15.99%) indicate pricing power and cost control; volume growth could drive bottom-line expansion

Consistent dividend distributions (4+ since 2023) confirm cash generation and capital available for business expansion

Carbon Black demand linked to tire manufacturing and industrial chemicals — verify end-market growth drivers and company's competitive position

Moderate leverage at D/E 1.2 provides financial flexibility if operating performance improves — assess profitability recovery scenarios

Generated analysis · source review pending

1,161 historical price candles were omitted because the exchange source has not been verified.

₹321.5-2.7%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 25.2% over the last 5 years
+Dividend yield of 3.3%

Cons

−Profit declined 8.8% a year over the last 5 years
−Weak interest coverage of 1.7×

Research score

Structured signal from quality, growth, valuation and momentum.

39/100

Business quality: 17
Growth: 56
Valuation: 45

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Solar Industries India LimitedSOLARINDSSOLARINDS	₹1,75,570 Cr	₹1,77,038 Cr	₹11,351 Cr	₹3,102 Cr	26.7%	₹1,991 Cr	17.7%	34.2%	31.5%	152
Linde India LimitedLINDEINDIALINDEINDIA	₹53,291 Cr	₹53,291 Cr	₹2,654 Cr	₹913 Cr	35.9%	₹546 Cr	21.7%	15.9%	13.6%	-217
Gujarat Fluorochemicals LimitedFLUOROCHEMFLUOROCHEM	₹47,713 Cr	₹49,912 Cr	₹5,303 Cr	₹1,375 Cr	25.8%	₹615 Cr	11.5%	11.1%	7.6%	401
Navin Fluorine International LimitedNAVINFLUORNAVINFLUOR	₹41,740 Cr	₹42,967 Cr	₹3,634 Cr	₹1,232 Cr	32.6%	₹790 Cr	20%	21.6%	20.1%	61
Himadri Speciality Chemical LimitedHSCLHSCL	₹33,557 Cr	₹34,323 Cr	₹4,974 Cr	₹1,005 Cr	20.6%	₹799 Cr	16.2%	23.4%	17.8%	103
Aether Industries LimitedAETHERAETHER	₹22,161 Cr	₹22,603 Cr	₹1,224 Cr	₹384 Cr	31.3%	₹235 Cr	19.8%	13.2%	9.4%	330
Atul LimitedATULATUL	₹17,231 Cr	₹17,411 Cr	₹6,643 Cr	₹1,189 Cr	16.4%	₹704 Cr	11%	14.1%	11.5%	70
Aarti Industries LimitedAARTIINDAARTIIND	₹16,869 Cr	₹21,790 Cr	₹9,012 Cr	₹1,337 Cr	14.1%	₹531 Cr	5.1%	8.8%	7.3%	54
Deepak Fertilizers And Petrochemicals Corporation LimitedDEEPAKFERTDEEPAKFERT	₹16,417 Cr	₹21,903 Cr	₹12,104 Cr	₹2,016 Cr	14.6%	₹984 Cr	6.4%	12.6%	11.3%	55
Fine Organic Industries LimitedFINEORGFINEORG	₹15,752 Cr	₹15,797 Cr	₹2,472 Cr	₹535 Cr	20.4%	₹438 Cr	17.6%	21.6%	16.8%	113
Tata Chemicals LimitedTATACHEMTATACHEM	₹15,487 Cr	₹23,488 Cr	₹15,120 Cr	₹1,711 Cr	12.4%	₹-2,165 Cr	-11.8%	2.9%	-8.9%	113
Basf India LimitedBASFBASF	₹14,796 Cr	₹14,796 Cr	₹16,177 Cr	₹952 Cr	4.4%	₹643 Cr	2.8%	14%	11.1%	40

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,115	2,131	2,600	3,529	3,244	2,660	4,446	5,774	6,420	8,404	8,189
COGS	1,327	1,237	1,659	2,297	2,190	1,609	3,134	4,352	4,466	5,810	5,719
Gross profit	788	895	941	1,232	1,054	1,051	1,313	1,422	1,954	2,595	2,470
	623	637	564	616	590	533	660	690	917	1,258	1,427
	165	258	377	616	464	518	653	731	1,037	1,337	1,043
OPM %	7.8%	12.1%	14.5%	17.5%	14.3%	19.5%	14.7%	12.7%	16.2%	15.9%	12.7%
Depreciation	62	61	61	66	92	110	121	137	217	346	373
Interest	72	51	41	37	46	34	29	53	181	461	423
	16	19	29	20	29	18	29	41	37	47	14
Profit before tax	47	165	304	533	355	392	532	582	676	577	261
Tax	31	96	74	150	67	78	105	139	185	142	63
Tax %	66.4%	58.3%	24.4%	28.2%	19%	19.9%	19.8%	24%	27.4%	24.7%	24.1%
	16	69	230	383	288	314	426	442	491	435	198
PAT margin %	0.8%	3.2%	8.8%	10.8%	8.9%	11.8%	9.6%	7.7%	7.7%	5.2%	2.4%
EPS (₹)	4.6	4	13.3	22.2	4.2	18.2	11.8	11.7	13	11.5	5.2
EPS adjusted (₹)	0.5	2	6.6	11.1	8.3	9.1	11.3	11.7	13	11.5	5
	54.1%	150.8%	54.1%	31.5%	82.7%	38.4%	84.7%	47%	42.3%	47.8%	—
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	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	34	38	38	38	38	39
Reserves	1,020	1,096	1,343	1,615	1,665	1,901	2,576	2,792	3,209	3,660	3,967
Minority interest	7	—	7	6	7	8	8	9	4	12	13
	1,101	738	687	726	545	607	684	943	4,820	5,380	4,825
	492	711	800	1,006	1,060	1,176	1,479	1,651	3,225	2,633	2,450
Total equity & liabilities	2,654	2,580	2,871	3,387	3,311	3,726	4,785	5,433	11,295	11,722	11,295
	1,438	1,384	1,395	1,496	1,510	1,738	1,930	1,963	6,888	6,359	7,123
CWIP	80	80	67	175	306	267	175	1,130	433	730	566
Investments	248	291	421	362	155	201	592	238	438	521	469
	889	826	989	1,354	1,340	1,521	2,087	2,101	3,537	4,113	3,137
Total assets	2,654	2,580	2,871	3,387	3,311	3,726	4,785	5,433	11,295	11,722	11,295

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Carbon Black	6,511.66	721.05	5,422.27	4,381.77	1,040.5	69.3
Chemical	1,442.73	17.43

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	34.9%	32.5%	39.5%	29.5%	24.6%	30.4%	30.9%	30.2%
EBITDA margin %	17.5%	14.3%	19.5%	14.7%	12.7%	16.2%	15.9%	12.7%
EBIT margin %	15.6%	11.5%	15.3%	12%	10.3%	12.8%	11.8%	8.2%
PAT margin %	10.8%	8.9%	11.8%	9.6%	7.7%	7.7%	5.2%	2.4%
Working capital
Receivable days	68	66	97	91	70	97	78	62
Inventory days	73	54	101	70	48	82	80	65
Payable days	81	70	134	106	80	147	100	92
NWC days	60	51	64	55	38	32	57	35
Leverage
Current ratio	1.18	1.11	1.34	1.44	1.09	1.07	0.96	0.83
Debt to EBITDA	1.18	1.17	1.17	1.05	1.29	4.65	4.02	4.63
Debt to equity	0.44	0.32	0.31	0.26	0.33	1.48	1.46	1.2
Interest coverage	15.5	8.7	12.6	19.3	11.9	4.7	2.3	1.7
Asset turnover	1.04	0.98	0.71	0.93	1.06	0.57	0.72	0.73
Return ratios
Return on assets %	11.3%	8.7%	8.4%	8.9%	8.1%	4.3%	3.7%	1.8%
Return on capital employed %	28.7%	17.9%	17.3%	19.2%	18.7%	14.7%	13.1%	9.1%
Return on equity %	23.2%	16.9%	16.2%	16.3%	15.6%	15.1%	11.8%	4.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	51.41%	51.41%	51.41%	51.41%	51.41%	51.41%	51.41%	51.41%	51.41%	53.38%	53.38%	53.38%
	7.07%	7.12%	6.68%	5.29%	5%	5.23%	5.59%	5.52%	6.07%	5.68%	5.56%	5.79%
	7.77%	6.24%	5.61%	6.4%	6.79%	6.69%	8.93%	9.88%	10.77%	10.19%	10.98%	11.27%
	0%	0%	0%	0%	0%	0%	0%	0%	1.24%	1.19%	1.19%	1.19%
	33.75%	35.23%	36.3%	36.9%	36.8%	36.67%	34.07%	33.19%	30.51%	29.56%	28.89%	28.37%
No. of shareholders	—	—	—	—	—	—	—	—	2,85,546	2,81,584	2,84,488	2,75,244

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 9 fund houses

Held by these funds

1.75%

of the company's equity

All mutual funds

5.62%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

28 schemes · 9 fund houses

		Shares
SMALL CAP FUND	Tata Mutual Fund	43.33 L	137.38	1.05%	1.101%	-0
Multi Cap FundNEW	ICICI Prudential Mutual Fund	10 L	31.71	0.16%	0.254%	—
INDIA INNOVATION FUND	Tata Mutual Fund	5.83 L	18.5	1.37%	0.148%	-0
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	2.8 L	8.87	0.25%	0.071%	+3,419
Commodities Fund	ICICI Prudential Mutual Fund	2 L	6.34	0.15%	0.051%	-0
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	1.42 L	4.51	0.25%	0.036%	+1,589
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1.03 L	3.27	0.25%	0.026%	+935
Nifty Smallcap 250 Index Fund	ICICI Prudential Mutual Fund	62,694	1.99	0.25%	0.016%	+1,274

1–8 of 28

1 / 4

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

31 announcementsExport CSV

22 Sept 2026, 5:35 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	34.9%	32.5%	39.5%	29.5%	24.6%	30.4%	30.9%	30.2%
EBITDA margin %	17.5%	14.3%	19.5%	14.7%	12.7%	16.2%	15.9%	12.7%
EBIT margin %	15.6%	11.5%	15.3%	12%	10.3%	12.8%	11.8%	8.2%
PAT margin %	10.8%	8.9%	11.8%	9.6%	7.7%	7.7%	5.2%	2.4%
Working capital
Receivable days	68	66	97	91	70	97	78	62
Inventory days	73	54	101	70	48	82	80	65
Payable days	81	70	134	106	80	147	100	92
NWC days	60	51	64	55	38	32	57	35
Leverage
Current ratio	1.18	1.11	1.34	1.44	1.09	1.07	0.96	0.83
Debt to EBITDA	1.18	1.17	1.17	1.05	1.29	4.65	4.02	4.63
Debt to equity	0.44	0.32	0.31	0.26	0.33	1.48	1.46	1.2
Interest coverage	15.5	8.7	12.6	19.3	11.9	4.7	2.3	1.7
Asset turnover	1.04	0.98	0.71	0.93	1.06	0.57	0.72	0.73
Return ratios
Return on assets %	11.3%	8.7%	8.4%	8.9%	8.1%	4.3%	3.7%	1.8%
Return on capital employed %	28.7%	17.9%	17.3%	19.2%	18.7%	14.7%	13.1%	9.1%
Return on equity %	23.2%	16.9%	16.2%	16.3%	15.6%	15.1%	11.8%	4.9%

30 deals · 11 Jul 2023 – 29 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
29 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	19,70,820	₹359.24	₹70.80 Cr
29 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	19,70,820	₹358.98	₹70.75 Cr
25 Mar 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	40,64,377	₹269.42	₹109.50 Cr
25 Mar 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	40,64,377	₹269.27	₹109.44 Cr
11 Feb 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	29,49,763	₹321.11	₹94.72 Cr
11 Feb 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	29,49,763	₹320.92	₹94.66 Cr
6 Aug 2024	AAKRAYA RESEARCH LLP	Bulk	NSE	Buy	26,21,572	₹402.86	₹105.61 Cr
6 Aug 2024	AAKRAYA RESEARCH LLP	Bulk	NSE	Sell	26,21,572	₹403.14	₹105.69 Cr
5 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	31,70,696	₹377.92	₹119.83 Cr
5 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	31,70,696	₹377.63	₹119.73 Cr

1–10 of 30

1 / 3

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Date	Category	Subject	Filing
22 Sept 2026, 5:35 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
22 Sept 2026, 5:31 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
22 Sept 2026, 1:27 pm	Company Update Appointment of Company Secretary / Compliance Officer	Appointment of Company Secretary and Compliance Officer	PDF
22 Sept 2026, 1:25 pm	Company Update Retirement	Announcement under Regulation 30 (LODR)-Retirement	PDF
18 Sept 2026, 6:04 pm	Company Update General	Disclosure Under Regulations 30 And 51 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations') - ESG Rating	PDF
18 Sept 2026, 5:56 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
17 Sept 2026, 6:20 pm	Company Update General	Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations') - ESG Rating	PDF
4 Sept 2026, 5:23 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	423	346	293	290	532	385	290	504	1,105	760	1,576
	-123	-36	-34	-278	-107	-203	-541	-552	-4,214	-690	-675
	-262	-337	-110	-70	-389	-180	217	-31	3,381	-64	-990
Net cash flow	39	-27	148	-58	36	3	-34	-78	272	6	-89
Free cash flow	384	306	198	57	301	270	-16	-392	570	-13	850
CFO / Operating profit %	256.3%	134.2%	77.7%	47.1%	114.7%	74.3%	44.5%	68.9%	106.6%	56.9%	151.1%

Pcbl Chemical Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

21

1

2

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Battery Chemical · revenue

Pcbl Chemical Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Quarterly record

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends21

Board meetings1

Stock splits2

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Battery Chemical · revenue

21

1

2