PCBL Limited, formerly known as Phillips Carbon Black Limited, is a leading player in the carbon black industry, established in 1960 and headquartered in Kolkata, India. As a member of the RP-Sanjiv Goenka Group, PCBL has grown into a globally recognized company, serving customers in over 50 countries. The company operates five state-of-the-art manufacturing plants located in Durgapur (West Bengal), Palej (Gujarat), Mundra (Gujarat), Kochi (Kerala), and Chennai (Tamil Nadu), with a combined production capacity of approximately 770,000 metric tons per annum.
PCBL is distinguished not only by its extensive product range, which includes various grades of carbon black used in tyres, technical rubber goods, plastics, inks, paints, coatings, adhesives, sealants, and batteries, but also by its commitment to sustainability. It was the first carbon black company to be awarded Carbon Credit under the Kyoto Protocol of the UNFCCC. The company is actively involved in environmental conservation, generating green power from the tail gas recovered during the carbon black production process. Through these initiatives, PCBL continues to innovate and expand its market presence while adhering to sustainable practices.
Latest News about PCBL Ltd
In recent developments, PCBL Limited revealed plans to invest ₹3,500 crore over the next five years to enter the electric vehicle (EV) battery component manufacturing sector, aiming to capitalize on the growing EV market. The company is also preparing to rebrand itself as “PCBL Chemical Limited,” pending approval from shareholders and regulators. This name change was approved along with other resolutions during the company’s 63rd Annual General Meeting (AGM), highlighting PCBL’s strategic focus on expansion and innovation in the chemical and materials industry.
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
| Promoters + | 51.41% | 51.41% | 51.41% | 51.41% | 51.41% |
| FIIs + | 6.56% | 7.07% | 7.12% | 6.68% | 5.29% |
| DIIs + | 9.05% | 7.78% | 6.25% | 5.61% | 6.41% |
| Government + | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% |
| Public + | 31.74% | 32.51% | 33.98% | 35.07% | 35.66% |
| No. of Shareholders | 1,73,347 | 1,88,648 | 2,18,524 | 2,41,489 | 2,40,162 |
Over the past year, the shareholding patterns of the company have seen some notable changes. As of June 2023, promoters held a consistent 51.41% of the shares. Foreign Institutional Investors (FIIs) increased their stake from 6.56% to a peak of 7.12% by December 2023 but saw a decrease to 5.29% by June 2024. Domestic Institutional Investors (DIIs) decreased their shareholding from 9.05% in June 2023 to 6.41% in June 2024, showing a decline in their investment. Government holdings remained steady at 1.24% throughout the period. The public’s stake has been increasing, rising from 31.74% in June 2023 to 35.66% in June 2024. The number of shareholders has grown significantly, from 1,73,347 in June 2023 to 2,40,162 by June 2024, reflecting a broader investor base.
Below are the trading platforms that you can use to purchase PCBL shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| September 2024 | 527.05 | 458.31 |
| October 2024 | 521.84 | 453.77 |
| November 2024 | 542.71 | 471.92 |
| December 2024 | 548.14 | 476.64 |
In September, the maximum price is expected to be ₹527.05, with a minimum price anticipated at ₹458.31. In October, the maximum price is projected to reach ₹521.84, while the minimum is forecasted to be ₹453.77. Moving into November, the maximum price is likely to be ₹542.71, and the minimum price is expected to be ₹471.92. Finally, as we approach December, the maximum price is anticipated to be ₹548.14, with a minimum price forecasted at ₹476.64.
| When | Maximum Price | Minimum Price |
| January 2025 | 553.62 | 425.86 |
| February 2025 | 559.21 | 430.16 |
| March 2025 | 570.95 | 439.19 |
| April 2025 | 565.30 | 434.85 |
| May 2025 | 548.83 | 422.18 |
| June 2025 | 573.53 | 441.18 |
| July 2025 | 562.29 | 432.53 |
| August 2025 | 579.68 | 445.91 |
| September 2025 | 586.63 | 451.26 |
| October 2025 | 601.89 | 462.99 |
| November 2025 | 616.93 | 474.56 |
| December 2025 | 644.69 | 495.92 |
As we step into January, the maximum price is expected to be ₹553.62, with a minimum price anticipated at ₹425.86. As we approach December, the maximum price is forecasted to reach ₹644.69, while the minimum price is expected to be ₹495.92.
| When | Maximum Price | Minimum Price |
| January 2026 | 664.04 | 510.80 |
| February 2026 | 647.43 | 498.03 |
| March 2026 | 660.38 | 507.99 |
| April 2026 | 673.86 | 518.35 |
| May 2026 | 667.19 | 513.22 |
| June 2026 | 683.87 | 526.05 |
| July 2026 | 670.46 | 515.74 |
| August 2026 | 691.20 | 531.69 |
| September 2026 | 705.02 | 542.32 |
| October 2026 | 723.35 | 556.42 |
| November 2026 | 741.43 | 570.33 |
| December 2026 | 759.97 | 584.59 |
| When | Maximum Price | Minimum Price |
| January 2027 | 767.57 | 590.44 |
| February 2027 | 787.25 | 605.58 |
| March 2027 | 817.95 | 629.19 |
| April 2027 | 801.91 | 616.86 |
| May 2027 | 778.56 | 598.89 |
| June 2027 | 813.59 | 625.84 |
| July 2027 | 797.64 | 613.57 |
| August 2027 | 822.31 | 632.55 |
| September 2027 | 851.09 | 654.68 |
| October 2027 | 873.22 | 671.71 |
| November 2027 | 895.05 | 688.50 |
| December 2027 | 917.43 | 705.71 |
| When | Maximum Price | Minimum Price |
| January 2028 | 935.77 | 719.83 |
| February 2028 | 959.77 | 738.28 |
| March 2028 | 997.20 | 767.08 |
| April 2028 | 977.65 | 752.04 |
| May 2028 | 949.17 | 730.13 |
| June 2028 | 991.88 | 762.99 |
| July 2028 | 972.43 | 748.03 |
| August 2028 | 1,002.51 | 771.16 |
| September 2028 | 1,037.60 | 798.15 |
| October 2028 | 1,064.58 | 818.90 |
| November 2028 | 1,091.19 | 839.38 |
| December 2028 | 1,118.47 | 860.36 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,140.84 | 877.57 |
| February 2029 | 1,170.09 | 900.07 |
| March 2029 | 1,215.72 | 935.17 |
| April 2029 | 1,191.89 | 916.84 |
| May 2029 | 1,157.17 | 890.13 |
| June 2029 | 1,209.24 | 930.19 |
| July 2029 | 1,185.53 | 911.95 |
| August 2029 | 1,222.20 | 940.15 |
| September 2029 | 1,264.98 | 973.06 |
| October 2029 | 1,297.87 | 998.36 |
| November 2029 | 1,330.31 | 1,023.32 |
| December 2029 | 1,363.57 | 1,048.90 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,390.84 | 1,069.88 |
| February 2030 | 1,426.51 | 1,097.31 |
| March 2030 | 1,482.14 | 1,140.11 |
| April 2030 | 1,453.08 | 1,117.75 |
| May 2030 | 1,410.75 | 1,085.20 |
| June 2030 | 1,474.24 | 1,134.03 |
| July 2030 | 1,445.33 | 1,111.79 |
| August 2030 | 1,490.03 | 1,146.18 |
| September 2030 | 1,542.18 | 1,186.30 |
| October 2030 | 1,582.28 | 1,217.14 |
| November 2030 | 1,621.84 | 1,247.57 |
| December 2030 | 1,662.38 | 1,278.76 |
As we step into January, the maximum price is expected to be ₹1,390.84, with a minimum price anticipated at ₹1,069.88. By December, the maximum price is forecasted to reach ₹1,662.38, while the minimum price is projected to be ₹1,278.76.
Financial Condition of PCBL: Last 5 Year
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 3,244 | 2,660 | 4,446 | 5,774 | 6,420 | 7,216 |
| Expenses + | 2,778 | 2,143 | 3,793 | 5,043 | 5,383 | 6,031 |
| Operating Profit | 465 | 517 | 653 | 731 | 1,037 | 1,185 |
| OPM % | 14% | 19% | 15% | 13% | 16% | 16% |
| Other Income + | 28 | 19 | 28 | 41 | 37 | 44 |
| Interest | 46 | 34 | 29 | 53 | 181 | 283 |
| Depreciation | 92 | 110 | 121 | 137 | 217 | 261 |
| Profit before tax | 355 | 392 | 532 | 582 | 676 | 686 |
| Tax % | 19% | 20% | 20% | 24% | 27% | |
| Net Profit + | 288 | 314 | 426 | 442 | 491 | 500 |
| EPS in Rs | 8.31 | 9.1 | 11.29 | 11.7 | 13.01 | 13.25 |
| Dividend Payout % | 42% | 38% | 44% | 47% | 42% |
Over the past five fiscal years, the company’s financial performance has shown considerable growth. Sales increased from ₹3,244 crore in March 2020 to ₹6,420 crore by March 2024, with a year-on-year rise, reflecting a robust revenue trajectory. Expenses also grew from ₹2,778 crore to ₹5,383 crore during the same period, indicating higher operational costs.
Operating profit demonstrated a strong upward trend, rising from ₹465 crore in March 2020 to ₹1,037 crore in March 2024, with the Operating Profit Margin (OPM) fluctuating between 13% and 19%. Other income contributed moderately, increasing from ₹28 crore to ₹37 crore.
Interest expenses saw a significant jump from ₹46 crore to ₹181 crore, impacting the net income. Depreciation expenses also rose sharply, from ₹92 crore to ₹217 crore. Despite these higher costs, profit before tax grew from ₹355 crore to ₹676 crore.
The effective tax rate increased from 19% to 27%, which contributed to a net profit rise from ₹288 crore in March 2020 to ₹491 crore in March 2024. Earnings per Share (EPS) improved consistently from ₹8.31 to ₹13.01. The dividend payout ratio remained relatively stable, with a slight decrease to 42% in March 2024, reflecting a balanced approach towards shareholder returns.
FAQs
What is PCBL’s current market capitalization?
PCBL’s current market capitalization is ₹18,392 crore.
The share price target for PCBL by 2024 ranges from ₹453.77 to ₹548.14.
The share price target for PCBL by December 2025 ranges from ₹495.92 to ₹644.69.
The share price target for PCBL by December 2030 ranges from ₹1,278.76 to ₹1,662.38.
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Conclsuion
In conclusion, PCBL Limited’s recent developments and financial performance reflect a promising future. The company’s strategic move to invest ₹3,500 crore in EV battery components underscores its commitment to innovation and market expansion. Financially, PCBL has demonstrated impressive growth, with significant increases in sales and net profit over the past five years. Despite rising costs, the company has maintained strong profitability and a solid dividend payout. As PCBL continues to expand and innovate, it is well-positioned for continued success and value creation for its shareholders.
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