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Swing Capital

PCBL Chemical Ltd

NSE: PCBL BSE: 506590Energy

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]

₹266
52W: ₹226 — ₹437
PE 42.8 · Book ₹103 · +158% vs book
Market Cap₹10,478 Cr
Stock P/E42.8Price to Earnings
ROCE8.53%Return on Capital
ROE6.29%Return on Equity
Div. Yield2.23%Face Value ₹1

Strengths

  • +Company has reduced debt.
  • +Debtor days have improved from 71.2 to 52.4 days.

Weaknesses

  • −Stock is trading at 2.63 times its book value
  • −Company has a low return on equity of 11.7% over last 3 years.

Shareholding Pattern

Promoters53.38%
FIIs5.56%
DIIs10.99%
Public28.9%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters51.41%51.41%51.41%51.41%51.41%51.41%53.38%▲2.053.38%
FIIs5.29%4.99%▼0.35.24%▲0.35.58%▲0.35.53%▼0.06.08%▲0.55.68%▼0.45.56%▼0.1
DIIs6.41%6.8%▲0.46.7%▼0.18.93%▲2.29.89%▲1.010.77%▲0.910.2%▼0.610.99%▲0.8
Public35.66%35.56%▼0.135.44%▼0.132.83%▼2.631.95%▼0.930.51%▼1.429.55%▼1.028.9%▼0.7

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,4851,4931,4911,5361,4301,4481,4531,4781,2741,371
Expenses1,2311,2271,2241,2631,1861,2331,2271,2981,1221,214
Operating Profit254266267273244215226180151157
OPM %17%18%18%18%17%15%16%12%12%11%
Net Profit1441381161291119593603647
EPS ₹3.833.673.083.422.942.512.471.580.921.2

AI Insights

Revenue Trend

Mar 2026 revenue at ₹5,576Cr, down 5.6% YoY. OPM at 13%.

Debt Position

Borrowings at ₹2,619Cr. Debt-to-equity ratio: 0.65x. Moderate leverage.

Capex Cycle

CWIP at ₹250Cr (11% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 10.99% (+1.94pp change). FIIs: 5.56% (-1.00pp change). Promoters hold 53.38%.

Margin & Efficiency

ROCE improving from 7% (Mar 2015) to 9% (Mar 2026). Working capital days: -33.

Valuation

PE 42.8x with 8.53% ROCE. Price is 158% above book value of ₹103. Dividend yield: 2.23%.

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