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Last Updated on: 21 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of PCBL Ltd

Basic Stock Data

Last Updated: June 20, 2024, 10:31 pm

Market Cap 9,821 Cr.
Current Price 260
High / Low344/151
Stock P/E20.0
Book Value 86.0
Dividend Yield2.11 %
ROCE14.2 %
ROE16.2 %
Face Value 1.00
PEG Ratio2.13

Competitors of PCBL Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Oriental Carbon & Chemicals Ltd 784 Cr. 785939/59017.0 6381.79 %9.75 %7.44 % 10.0
Industry Average784.00 Cr785.0017.00638.001.79%9.75%7.44%10.00

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales7698671,0041,0681,1561,2191,4091,6281,3631,3741,3481,4871,657
Expenses5816818408819881,0841,2141,4391,2001,1901,1371,2491,378
Operating Profit188186164187168134195189163184211238279
OPM %24%21%16%18%15%11%14%12%12%13%16%16%17%
Other Income21144912124917437
Interest8888779111519192132
Depreciation28282930313037333334414853
Profit before tax155161131153139109161149124148154172201
Tax %19%21%20%20%20%19%21%22%22%31%29%28%26%
Net Profit1261281041221128812611697102109123148
EPS in Rs3.643.713.033.542.952.343.343.082.572.712.893.253.92

Last Updated: June 10, 2024, 1:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 5:53 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales2,2852,2772,4701,8941,9272,5583,5293,2442,6604,4465,7746,420
Expenses2,2122,2522,3191,7291,6622,1752,9122,7782,1433,7935,0435,382
Operating Profit73251511652653836164655176537311,037
OPM %3%1%6%9%14%15%17%14%19%15%13%16%
Other Income92214161223202819284137
Interest7280957251413746342953181
Depreciation5255586261616692110121137217
Profit before tax-42-881247165304533355392532582676
Tax %47%1%14%66%58%24%28%19%20%20%24%27%
Net Profit-22-87101669230383288314426442491
EPS in Rs-0.63-2.510.310.462.016.6411.138.319.1011.2911.7013.01
Dividend Payout %-8%0%32%54%30%11%16%42%38%44%47%42%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-295.45%111.49%60.00%331.25%233.33%66.52%-24.80%9.03%35.67%3.76%11.09%
Change in YoY Net Profit Growth (%)0.00%406.95%-51.49%271.25%-97.92%-166.81%-91.33%33.83%26.64%-31.91%7.33%

Growth

Compounded Sales Growth
10 Years:11%
5 Years:13%
3 Years:34%
TTM:11%
Compounded Profit Growth
10 Years:23%
5 Years:5%
3 Years:17%
TTM:15%
Stock Price CAGR
10 Years:42%
5 Years:34%
3 Years:32%
1 Year:60%
Return on Equity
10 Years:16%
5 Years:17%
3 Years:17%
Last Year:16%

Last Updated: June 16, 2024, 4:59 pm

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital34343434343434343434383838
Reserves5735514674731,0101,0961,3431,6151,6651,9012,5762,7923,078
Borrowings7118741,0871,2201,0227587177936177247861,0291,171
Other Liabilities7758405402855246917769449951,0671,3851,5731,770
Total Liabilities2,0942,2992,1282,0122,5902,5802,8713,3873,3113,7264,7855,4336,057
Fixed Assets7437828898511,4161,3881,3991,5001,6401,7421,9341,9682,981
CWIP10216574808080671753062671751,130359
Investments38383886228291316362155196588234316
Other Assets1,2111,3151,1279958678221,0901,3501,2101,5212,0872,1012,400
Total Assets2,0942,2992,1282,0122,5902,5802,8713,3873,3113,7264,7855,4336,057

Reserves and Borrowings Chart

PCBL Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -91129-14935422346293290532385290504
Cash from Investing Activity -88-130-36-68-121-36-34-278-107-203-541-552
Cash from Financing Activity 1296012234-262-337-110-70-389-180217-31
Net Cash Flow-5059-63139-27148-58363-34-78

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-801.0024.00150.00164.00-493.00-334.00-177.00-152.00-207.00-133.00730.001.00

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 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days838377848874686697917097
Inventory Days9885566672687354101704882
Days Payable14089287412388817013410680147
Cash Conversion Cycle4079105773754605164553832
Working Capital Days467380564640463352573952
ROCE %2%-0%6%6%11%17%25%16%17%18%17%

Financial Efficiency Indicators Chart

PCBL Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters53.56%53.56%53.56%55.69%51.38%51.38%51.38%51.41%51.41%51.41%51.41%51.41%
FIIs9.00%8.13%6.65%6.51%9.07%9.46%10.18%10.89%8.58%6.34%6.56%7.07%
DIIs1.49%1.63%2.07%2.11%4.77%5.16%6.06%5.23%7.16%8.15%9.05%7.78%
Government1.36%1.36%1.36%1.36%1.24%1.24%1.24%1.24%1.24%1.24%1.24%1.24%
Public34.59%35.32%36.36%34.33%33.53%32.75%31.14%31.23%31.62%32.85%31.74%32.51%
No. of Shareholders97,5301,13,7171,30,4201,33,8941,51,5601,52,8201,63,4381,54,3171,56,5011,64,0521,73,3471,88,648

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Balanced Advantage Fund - Regular Plan6,278,2370.25170.674,329,9912024-06-2044.99%
ICICI Prudential Flexicap Fund4,329,9910.91117.714,329,9912024-06-200%
Tata Small Cap Fund1,844,3990.7950.144,329,9912024-06-20-57.4%
Mahindra Manulife Small Cap Fund1,300,0001.3835.344,329,9912024-06-20-69.98%
Bandhan Small Cap Fund1,297,4211.0935.274,329,9912024-06-20-70.04%
ICICI Prudential Dividend Yield Equity Fund1,040,1450.9728.284,329,9912024-06-20-75.98%
ITI Small Cap Fund989,0321.4626.894,329,9912024-06-20-77.16%
Bank of India Small Cap Fund899,8312.9824.464,329,9912024-06-20-79.22%
LIC MF Multi Cap Fund437,2661.5811.894,329,9912024-06-20-89.9%
Bank of India Flexi Cap Fund335,0001.859.114,329,9912024-06-20-92.26%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.002.002.002.00
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.)170.06152.96235.57154.31188.21
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 (%)7.647.659.5811.808.86
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) (%)0.0046.9844.3038.4642.09
Dividend Payout Ratio (CP) (%)0.0035.8834.5028.4631.83
Earning Retention Ratio (%)0.0053.0255.7061.5457.91
Cash Earning Retention Ratio (%)0.0064.1265.5071.5468.17
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 (%)0.0053.0155.6961.5357.90
Price / BV (X)3.121.551.651.700.63
Price / Net Operating Revenue (X)1.580.750.971.240.33
EarningsYield0.040.100.090.090.26

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 284.52

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 9.43% compared to the current price 260

Intrinsic Value: 311.21

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 19.69% compared to the current price ₹260

Last 5 Year EPS CAGR: 9.38%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (1,472.31 cr) compared to borrowings (885.31 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (2.75 cr) and profit (289.00 cr) over the years.
  1. The stock has a low average ROCE of 11.25%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 51.67, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 57.67, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in PCBL Ltd:
    1. Net Profit Margin: 7.64%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 10.60% (Industry Average ROCE: %)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 15.12% (Industry Average ROE: %)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 3.72
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.75
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. ✗ Stock P/E: 20.0 (Industry average Stock P/E: )
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. ✗ Total Debt / Equity: 1.48
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company

PCBL 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. 4446.42 Cr. and Equity Capital is Rs. 37.75 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Carbon BlackDuncan House,3rd Floor, Kolkata West Bengal 700001pcbl@rpsg.in
http://www.pcblltd.com
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
Mr. Paras K ChowdharyInd. Non-Executive Director
Mr. Pradip RoyInd. Non-Executive Director
Ms. Rusha MitraInd. Non-Executive Director
Mr. R K AgarwalInd. Non-Executive Director
Mr. T C Sussel KumarInd. Non-Executive Director

FAQ

What is the latest fair value of PCBL Ltd?

The latest fair value of PCBL Ltd is ₹284.52.

What is the Market Cap of PCBL Ltd?

The Market Cap of PCBL Ltd is 9,821 Cr..

What is the current Stock Price of PCBL Ltd as on 21 June 2024?

The current stock price of PCBL Ltd as on 21 June 2024 is ₹260.

What is the High / Low of PCBL Ltd stocks in FY 2024?

In FY 2024, the High / Low of PCBL Ltd stocks is 344/151.

What is the Stock P/E of PCBL Ltd?

The Stock P/E of PCBL Ltd is 20.0.

What is the Book Value of PCBL Ltd?

The Book Value of PCBL Ltd is 86.0.

What is the Dividend Yield of PCBL Ltd?

The Dividend Yield of PCBL Ltd is 2.11 %.

What is the ROCE of PCBL Ltd?

The ROCE of PCBL Ltd is 14.2 %.

What is the ROE of PCBL Ltd?

The ROE of PCBL Ltd is 16.2 %.

What is the Face Value of PCBL Ltd?

The Face Value of PCBL Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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