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PCBL Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹264.11Overvalued by 14.80%vs CMP ₹310.00

P/E (56.9) × ROE (5.6%) × BV (₹102.00) × DY (1.94%)

₹184.82Overvalued by 40.38%vs CMP ₹310.00
MoS: -67.7% (Negative)Confidence: 56/100 (Moderate)Models: 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹238.7829%Over (-23%)
Graham NumberEarnings₹125.1121%Over (-59.6%)
Net Asset ValueAssets₹101.679%Over (-67.2%)
EV/EBITDAEnterprise₹215.0812%Over (-30.6%)
Earnings YieldEarnings₹68.209%Over (-78%)
ROCE CapitalReturns₹333.8612%Fair (+7.7%)
Revenue MultipleRevenue₹106.647%Over (-65.6%)
Consensus (7 models)₹184.82100%Overvalued
Key Drivers: Wide model spread (₹68–₹334) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -9.6%

*Investments are subject to market risks

Analyst Summary

PCBL Ltd operates in the Carbon Black segment, current market price is ₹310.00, market cap is 12,215 Cr.. At a glance, stock P/E is 56.9, ROE is 5.58 %, ROCE is 7.75 %, book value is 102, dividend yield is 1.94 %. The latest intrinsic value estimate is ₹184.82, around 40.4% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹8,404 Cr versus the prior period change of 30.9%, while latest net profit is about ₹435 Cr with a prior-period change of -11.4%. The 52-week range shown on this page is 437/226, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisPCBL Chemical Ltd. is a Public Limited Listed company incorporated on 31/03/1960 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L23…

This summary is generated from the stock page data available for PCBL Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

54
PCBL Ltd scores 54/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health45/100 · Moderate
ROCE 7.8% WeakROE 5.6% WeakD/E 0.32 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money85/100 · Strong
FII holding up 0.10% (6mo) Slight increaseDII holding up 1.27% MF buyingPromoter increased by 1.97% Positive
Earnings Quality60/100 · Moderate
OPM stable around 16% SteadyWorking capital: -24 days (improving) Efficient
Quarterly Momentum30/100 · Weak
Revenue (4Q): 0% YoY FlatProfit (4Q): -42% YoY DecliningOPM: 11.6% (down 4.2% YoY) Margin pressure
Industry Rank75/100 · Strong
P/E 56.9 vs industry 37.5 Premium to peersROCE 7.8% vs industry 4.3% Above peersROE 5.6% vs industry 3.0% Above peers3Y sales CAGR: 24% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: May 5, 2026, 12:50 am

Market Cap 12,215 Cr.
Current Price 310
Intrinsic Value₹184.82
High / Low 437/226
Stock P/E56.9
Book Value 102
Dividend Yield1.94 %
ROCE7.75 %
ROE5.58 %
Face Value 1.00
PEG Ratio-5.93

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for PCBL Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
PCBL Ltd 12,215 Cr. 310 437/22656.9 1021.94 %7.75 %5.58 % 1.00
Oriental Carbon & Chemicals Ltd 108 Cr. 108 330/74.618.0 2690.00 %0.88 %0.44 % 10.0
Industry Average6,161.50 Cr209.0037.45185.500.97%4.32%3.01%5.50

All Competitor Stocks of PCBL Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,363.331,373.811,347.521,486.711,656.761,928.782,143.562,163.202,010.002,087.492,114.052,163.571,845.62
Expenses 1,199.961,189.981,136.751,248.591,377.821,619.271,785.291,799.691,692.661,789.831,795.001,897.411,630.97
Operating Profit 163.37183.83210.77238.12278.94309.51358.27363.51317.34297.66319.05266.16214.65
OPM % 11.98%13.38%15.64%16.02%16.84%16.05%16.71%16.80%15.79%14.26%15.09%12.30%11.63%
Other Income 8.5116.623.982.687.1723.2010.885.6510.5719.775.8012.05-4.77
Interest 14.9818.6119.2520.9732.37108.19121.11118.92117.72103.16112.35107.15106.29
Depreciation 33.0033.5541.1848.2452.6575.1984.4786.4186.6688.1492.3592.7893.63
Profit before tax 123.90148.29154.32171.59201.09149.33163.57163.83123.53126.13120.1578.289.96
Tax % 21.59%31.03%29.14%28.42%26.41%25.70%27.91%24.65%24.63%20.57%21.68%21.18%79.72%
Net Profit 97.15102.28109.35122.83147.98110.95117.92123.4593.11100.1994.1061.702.02
EPS in Rs 2.572.712.893.253.922.953.133.272.472.652.491.630.05

Last Updated: February 4, 2026, 4:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 9:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,2772,4701,8941,9272,5583,5293,2442,6604,4465,7746,4208,4048,211
Expenses 2,2522,3191,7291,6622,1752,9122,7782,1433,7935,0435,3837,0677,113
Operating Profit 251511652653836164655176537311,0371,3371,098
OPM % 1%6%9%14%15%17%14%19%15%13%16%16%13%
Other Income 22141612232028192841374733
Interest 80957251413746342953181461429
Depreciation 55586261616692110121137217346367
Profit before tax -881247165304533355392532582676577335
Tax % -1%14%66%58%24%28%19%20%20%24%27%25%
Net Profit -87101669230383288314426442491435258
EPS in Rs -2.510.310.462.016.6411.138.319.1011.2911.7013.0111.516.82
Dividend Payout % 0%32%54%30%11%16%42%38%44%47%42%48%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)111.49%60.00%331.25%233.33%66.52%-24.80%9.03%35.67%3.76%11.09%-11.41%
Change in YoY Net Profit Growth (%)0.00%-51.49%271.25%-97.92%-166.81%-91.33%33.83%26.64%-31.91%7.33%-22.49%

PCBL Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:13%
5 Years:21%
3 Years:24%
TTM:16%
Compounded Profit Growth
10 Years:45%
5 Years:9%
3 Years:1%
TTM:-18%
Stock Price CAGR
10 Years:42%
5 Years:43%
3 Years:38%
1 Year:-23%
Return on Equity
10 Years:16%
5 Years:16%
3 Years:15%
Last Year:12%

Last Updated: September 5, 2025, 12:15 pm

Balance Sheet

Last Updated: May 7, 2026, 2:30 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 343434343434343838383839
Reserves 4731,0101,0961,3431,6151,6651,9012,5762,7923,2093,6603,967
Borrowings 1,2201,0227587177936177247861,0294,9835,5714,989
Other Liabilities 2855246917769449951,0671,3851,5733,0662,4532,299
Total Liabilities 2,0122,5902,5802,8713,3873,3113,7264,7855,43311,29511,72211,295
Fixed Assets 8511,4161,3881,3991,5001,6401,7421,9341,9686,8926,5957,145
CWIP 808080671753062671751,130433732566
Investments 86228291316362155196588234433516464
Other Assets 9958678221,0901,3501,2101,5212,0872,1013,5373,8793,119
Total Assets 2,0122,5902,5802,8713,3873,3113,7264,7855,43311,29511,72211,295

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 354223462932905323852905041,1057601,576
Cash from Investing Activity + -68-121-36-34-278-107-203-541-552-4,214-690-675
Cash from Financing Activity + 34-262-337-110-70-389-180217-313,381-64-990
Net Cash Flow 139-27148-58363-34-782726-89
Free Cash Flow 238830619858301271-16-392573-4851
CFO/OP 24%262%143%94%68%129%87%60%92%127%70%158%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow25.00150.00164.00-493.00-334.00-177.00-152.00-207.00-133.00730.00-3.00-4.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 837784887468669791709778
Inventory Days 8556667268735410170488280
Days Payable 89287412388817013410680147100
Cash Conversion Cycle 7910577375460516455383257
Working Capital Days -25-34-80-57-34-1-415174-11-24
ROCE %-0%6%6%11%17%25%16%17%18%17%14%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 51.41%51.41%51.41%51.41%51.41%51.41%51.41%51.41%51.41%51.41%51.41%53.38%
FIIs 6.34%6.56%7.07%7.12%6.68%5.29%4.99%5.24%5.58%5.53%6.08%5.68%
DIIs 8.15%9.05%7.78%6.25%5.61%6.41%6.80%6.70%8.93%9.89%10.77%10.20%
Government 1.24%1.24%1.24%1.24%1.24%1.24%1.24%1.24%1.24%1.24%1.24%1.19%
Public 32.85%31.74%32.51%33.98%35.07%35.66%35.56%35.44%32.83%31.95%30.51%29.55%
No. of Shareholders 1,64,0521,73,3471,88,6482,18,5242,41,4892,40,1622,77,3353,03,5312,92,5702,87,3292,85,5462,81,584

Shareholding Pattern Chart

No. of Shareholders

PCBL Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Balanced Advantage Fund 6,278,237 0.16 167N/AN/AN/A
Bandhan Small Cap Fund 6,136,344 0.85 163.235,833,0602026-01-26 08:21:045.2%
Tata Small Cap Fund 4,332,988 1.07 115.261,844,3992025-12-08 00:58:55134.93%
Aditya Birla Sun Life Value Fund 1,544,435 0.66 41.08N/AN/AN/A
Aditya Birla Sun Life Small Cap Fund 1,099,652 0.61 29.25N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue 1.001.002.002.002.00
Basic EPS (Rs.) 13.0011.7011.8118.2216.68
Diluted EPS (Rs.) 13.0011.7011.8118.2216.68
Cash EPS (Rs.) 18.7615.3428.9924.6122.04
Book Value[Excl.RevalReserv]/Share (Rs.) 86.1075.21138.93112.7499.01
Book Value[Incl.RevalReserv]/Share (Rs.) 86.1075.21138.93112.7499.01
Revenue From Operations / Share (Rs.) 170.01152.96235.57154.31188.21
PBDIT / Share (Rs.) 28.4620.4536.1131.1028.61
PBIT / Share (Rs.) 22.7016.8229.7024.7123.25
PBT / Share (Rs.) 17.9215.4128.1622.7520.59
Net Profit / Share (Rs.) 13.0111.7122.5918.2216.68
NP After MI And SOA / Share (Rs.) 13.0111.7022.5718.2016.63
PBDIT Margin (%) 16.7313.3615.3220.1515.20
PBIT Margin (%) 13.3510.9912.6016.0112.35
PBT Margin (%) 10.5310.0711.9514.7410.93
Net Profit Margin (%) 7.657.659.5811.808.86
NP After MI And SOA Margin (%) 7.647.659.5811.798.83
Return on Networth / Equity (%) 15.1215.6116.2916.2016.86
Return on Capital Employeed (%) 10.6017.7317.4616.2617.55
Return On Assets (%) 4.348.138.908.418.66
Long Term Debt / Equity (X) 1.160.140.080.150.12
Total Debt / Equity (X) 1.480.330.260.290.32
Asset Turnover Ratio (%) 0.761.201.050.750.97
Current Ratio (X) 1.071.091.441.331.11
Quick Ratio (X) 0.750.771.060.920.79
Inventory Turnover Ratio (X) 5.778.006.044.115.56
Dividend Payout Ratio (NP) (%) 42.2846.9844.3038.4642.09
Dividend Payout Ratio (CP) (%) 29.3135.8834.5028.4631.83
Earning Retention Ratio (%) 57.7253.0255.7061.5457.91
Cash Earning Retention Ratio (%) 70.6964.1265.5071.5468.17
Interest Coverage Ratio (X) 5.9414.4523.4315.8210.74
Interest Coverage Ratio (Post Tax) (X) 3.729.2815.6610.277.26
Enterprise Value (Cr.) 14557.515237.434848.913596.701482.99
EV / Net Operating Revenue (X) 2.270.901.091.350.45
EV / EBITDA (X) 13.556.797.116.713.01
MarketCap / Net Operating Revenue (X) 1.580.750.971.240.33
Retention Ratios (%) 57.7153.0155.6961.5357.90
Price / BV (X) 3.121.551.651.700.63
Price / Net Operating Revenue (X) 1.580.750.971.240.33
EarningsYield 0.040.100.090.090.26

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

PCBL Chemical Ltd. is a Public Limited Listed company incorporated on 31/03/1960 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L23109WB1960PLC024602 and registration number is 024602. Currently Company is involved in the business activities of Manufacture of refined petroleum products. Company's Total Operating Revenue is Rs. 5576.05 Cr. and Equity Capital is Rs. 39.35 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
Carbon BlackDuncan House, 3rd Floor, 31, Netaji Subhash Road, Kolkata West Bengal 700001Contact not found
Management
NamePosition Held
Dr. Sanjiv GoenkaChairman
Mr. Kaushik RoyManaging Director
Mrs. Preeti GoenkaNon Executive Director
Mr. Shashwat GoenkaNon Executive Director
Mr. K JairajInd. Non-Executive Director
Dr. S RaviInd. Non-Executive Director
Ms. Rusha MitraInd. Non-Executive Director
Mr. R K AgarwalInd. Non-Executive Director
Mr. T C Sussel KumarInd. Non-Executive Director
Mr. Umang KanoriaInd. Non-Executive Director

FAQ

What is the intrinsic value of PCBL Ltd and is it undervalued?

As of 16 May 2026, PCBL Ltd's intrinsic value is ₹184.82, which is 40.38% lower than the current market price of ₹310.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (5.58 %), book value (₹102), dividend yield (1.94 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of PCBL Ltd?

PCBL Ltd is trading at ₹310.00 as of 16 May 2026, with a FY2026-2027 high of ₹437 and low of ₹226. The stock is currently in the middle of its 52-week range. Market cap stands at ₹12,215 Cr..

How does PCBL Ltd's P/E ratio compare to its industry?

PCBL Ltd has a P/E ratio of 56.9, which is above the industry average of 37.45. The premium over industry average may reflect growth expectations or speculative interest.

Is PCBL Ltd financially healthy?

Key indicators for PCBL Ltd: ROCE of 7.75 % is on the lower side compared to the industry average of 4.32%; ROE of 5.58 % is below ideal levels (industry average: 3.01%). Dividend yield is 1.94 %.

Is PCBL Ltd profitable and how is the profit trend?

PCBL Ltd reported a net profit of ₹435 Cr in Mar 2025 on revenue of ₹8,404 Cr. Compared to ₹426 Cr in Mar 2022, the net profit shows an improving trend.

Does PCBL Ltd pay dividends?

PCBL Ltd has a dividend yield of 1.94 % at the current price of ₹310.00. The company pays dividends, though the yield is modest.

Last Updated: May 5, 2026, 12:50 am
Author: Getaka|Social: XLinkedIn
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in PCBL Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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