On 6 Nov 2026, PCBL Chemical was priced at ₹279.25, or 40.5× trailing earnings, against an industry P/E of 22.1×, and the shares are 25% below their 52-week high. Sales grew 12% a year over 3 years while net profit fell 23%; its ROCE of 8.7% is the lowest among the 7 largest Specialty Chemicals peers. Debt is 1.25× equity, and its dividend yield is 1.6%. It is a small-cap company with a market cap of ₹10,987 Cr, ranked 21st of 204 Specialty Chemicals companies by market cap; the shares fell 20% over the past year.
- ₹280.00
- ₹280.50
- ₹276.00
- ₹283.40
- 3 L
Health check
- ReturnsBehind
−20.3% over a year, better than 0 of 7 peers.
- Price tagPricier
P/E 40.5 vs industry 22.1.
- GrowthSteady
Sales +12.2%, profit −23.5% a year over 3 years.
- ProfitabilityWeak
ROCE 8.7% vs peer median 24.4%.
- Balance sheetFair
Debt 1.25× equity, interest covered 1.6×, Piotroski 5 of 9.
- Red flags3 to check
Return on equity is low at 6.8%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹10,987 Cr
- Small cap
- P/E
- 40.5
- Industry 22.1
- Price to book
- 2.71
- Peers 13.33
- Dividend yield
- 1.61%
- ROE
- 6.8%
- Peers 23.0%
- ROCE
- 8.7%
- Peers 24.4%
- Debt to equity
- 1.25
- Debt ₹5,083 Cr
- EPS (TTM)
- ₹6.89
- Face value ₹1
- OPM (TTM)
- 13.0%
- Net margin 3.1%
- Sales growth
- +15.1%
- Latest quarter vs a year ago
- Profit growth
- +16.0%
- Latest quarter vs a year ago
- Price to sales
- 1.24
- EV/EBITDA 15.3
Strengths and risks
Strengths
- Quarterly sales up 15.1% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 6.8%.
- P/E of 40.5 against an industry P/E of 22.1.
- Interest coverage of only 2.4×.
About PCBL Chemical
PCBL Chemical Limited, together with subsidiaries, produces, sells, and exports carbon black in India and internationally. The company operates through Carbon Black, Power, Chemicals, and Battery Chemical segments. It offers carbon black for tires, performance chemicals, specialty chemicals, and other materials under the CarboNext, ECOZEN, Royale Black, Bluemina, NuTone, VEDABLACK, and Energia brands. In addition, it engages in the manufacture, market,…
- Headquarters
- Kolkata
- Employees
- 1,350
- Sector
- Basic Materials
- ISIN
- INE602A01031
- Website
- pcblltd.com
Price range
- Avg volume (3M)
- 11.5 L
- 1-year return
- minus 20.3%
- From 52-week high
- minus 25.3%
Analyst consensus
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 15.3% | 0.15 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.1% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| PCBLPCBL Chemical | 279.25 | minus 1.46% | 10,987 | 40.5 | 16.1 | 8.7% | 13.0% | 1.25 | 12.2% | minus 20.3% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.1% | 0.21 | 5.8% | 6.8% |
Quarterly results
| ₹ Cr | Jun 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 2,114 | 1,846 | 2,066 | 2,473 | 2,474 | |
| 1,795 | 1,631 | 1,823 | 2,078 | 2,180 | |
| 319 | 215 | 243 | 396 | 294 | |
| 15.1% | 11.6% | 11.8% | 16.0% | 11.9% | |
| 5.8 | 16.1 | 4.7 | 4.4 | 15.7 | |
| 112 | 106 | 97.2 | 92.5 | 104 | |
| 92.4 | 93.6 | 94 | 103 | 106 | |
| – | −20.9 | −4.2 | – | – | |
| 120 | 10 | 52.4 | 204 | 101 | |
| 21.7% | 79.7% | 23.2% | 24.1% | 26.3% | |
| 94.1 | 2 | 40.3 | 155 | 74.2 | |
| 2.48 | 0.05 | 1.02 | 3.94 | 1.88 |
Profit & loss
- Sales CAGR 3Y
- +12.2%
- Profit CAGR 3Y
- −23.5%
- EPS CAGR 3Y
- −24.0%
- ROE
- 6.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5,752 | 6,387 | 8,356 | 8,126 | |
| – | +11.0% | +30.8% | minus 2.7% | |
| 5,030 | 5,395 | 7,070 | 7,153 | |
| 722 | 993 | 1,286 | 973 | |
| 12.6% | 15.5% | 15.4% | 12.0% | |
| 30.3 | 63.3 | −484 | 88.8 | |
| 53.3 | 177 | 452 | 411 | |
| 137 | 217 | 346 | 373 | |
| 19.5 | 15.2 | 573 | −17 | |
| 582 | 676 | 577 | 261 | |
| 24.0% | 27.4% | 24.7% | 24.1% | |
| 442 | 491 | 435 | 198 | |
| – | +11.1% | minus 11.5% | minus 54.5% | |
| 11.70 | 13.00 | 11.48 | 5.13 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 37.8 | 37.8 | 37.8 | 39.4 | |
| 2,792 | 3,209 | 3,660 | 3,967 | |
| 1,029 | 4,983 | 5,571 | 4,989 | |
| 1,573 | 3,066 | 2,453 | 2,299 | |
| 5,433 | 11,295 | 11,722 | 11,295 | |
| 3,138 | 4,043 | 4,573 | 5,016 | |
| 1,176 | 483 | 793 | 599 | |
| 9 | 10.7 | 11.5 | 1.3 | |
| 91.3 | 405 | 386 | 285 | |
| 1,019 | 6,354 | 5,959 | 5,393 | |
| 5,433 | 11,295 | 11,722 | 11,295 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 504 | 1,105 | 760 | 1,576 | |
| −552 | −4,214 | −690 | −675 | |
| −30.6 | 3,381 | −63.9 | −990 | |
| −78.4 | 272 | 6.2 | −89 | |
| −896 | −536 | −774 | −727 | |
| −392 | 570 | −13.3 | 850 | |
| −208 | −208 | −208 | −226 |
Shareholding pattern
- Promoters53.38%
- Public46.62%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 53.38% | 46.62% | 0.00 | |
| 30 Jun 2026 | 53.38% | 46.62% | 0.00 | |
| 31 Mar 2026 | 53.38% | 46.62% | 0.00 | |
| 31 Dec 2025 | 53.38% | 46.62% | 0.00 | |
| 3 Nov 2025 | 53.38% | 46.62% | – |
Major shareholders
Filings & events
News
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