PCBL Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹237.26Overvalued by 31.23%vs CMP ₹345.00

P/E (51.4) × ROE (5.6%) × BV (₹102.00) × DY (1.74%)

₹177.69Overvalued by 48.50%vs CMP ₹345.00

MoS: -94.2% (Negative)Confidence: 56/100 (Moderate)Models: 1 Fair, 6 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹214.51	29%	Over (-37.8%)
Graham Number	Earnings	₹125.11	21%	Over (-63.7%)
Net Asset Value	Assets	₹101.68	9%	Over (-70.5%)
EV/EBITDA	Enterprise	₹215.12	12%	Over (-37.6%)
Earnings Yield	Earnings	₹68.20	9%	Over (-80.2%)
ROCE Capital	Returns	₹333.91	12%	Fair (-3.2%)
Revenue Multiple	Revenue	₹106.66	7%	Over (-69.1%)
Consensus (7 models)		₹177.69	100%	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

Analysis summary

Data coverage: Price-data record updated 24 September 2026, 3:16 am +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹8,404.00 Cr, versus ₹6,420.00 Cr in Mar 2024 (30.9% year on year). Net profit for Mar 2025 was ₹435.00 Cr, versus ₹491.00 Cr in Mar 2024 (-11.4% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹760.00 Cr against net profit of ₹435.00 Cr. Cash flow covered 1.75 times reported profit. Cash generation supports the reported profit for this period; check whether this continues over several years.

Balance-sheet check

Reported borrowings were ₹4,989.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

PCBL Ltd scores 57/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health46/100 · Moderate

ROCE 7.8% WeakROE 5.6% WeakD/E 1.48 High debtInterest Coverage 5.9x StrongProfitable 5/5 available years Reported history

Smart Money50/100 · Moderate

FII holding stable No changePromoter holding at 53.4% Stable

Earnings Quality85/100 · Strong

CFO/NP ratio: 1.73x Cash-backed earningsOPM 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 51.4 vs industry 28.4 Premium to peersROCE 7.8% vs industry 5.0% Above peersROE 5.6% vs industry 3.7% Above peers3Y sales CAGR: 24% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 24, 2026, 3:16 am

Market Cap	13,592 Cr.
Current Price	345
Intrinsic Value	₹177.69
High / Low	394/226
Stock P/E	51.4
Book Value	102
Dividend Yield	1.74 %
ROCE	7.75 %
ROE	5.56 %
Face Value	1.00
PEG Ratio	-5.36

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

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

Stock P/E Current Price Intrinsic Value

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	13,592 Cr.	345	394/226	51.4	102	1.74 %	7.75 %	5.56 %	1.00
Oriental Carbon & Chemicals Ltd	124 Cr.	124	175/74.6	5.47	271	0.00 %	2.31 %	1.85 %	10.0
Industry Average	6,858.00 Cr	234.50		28.44	186.50	0.87%	5.03%	3.71%	5.50

All Competitor Stocks of PCBL Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	1,363.33	1,373.81	1,347.52	1,486.71	1,656.76	1,928.78	2,143.56	2,163.20	2,010.00	2,087.49	2,114.05	2,163.57	1,845.62
Expenses	1,199.96	1,189.98	1,136.75	1,248.59	1,377.82	1,619.27	1,785.29	1,799.69	1,692.66	1,789.83	1,795.00	1,897.41	1,630.97
Operating Profit	163.37	183.83	210.77	238.12	278.94	309.51	358.27	363.51	317.34	297.66	319.05	266.16	214.65
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	8.51	16.62	3.98	2.68	7.17	23.20	10.88	5.65	10.57	19.77	5.80	12.05	-4.77
Interest	14.98	18.61	19.25	20.97	32.37	108.19	121.11	118.92	117.72	103.16	112.35	107.15	106.29
Depreciation	33.00	33.55	41.18	48.24	52.65	75.19	84.47	86.41	86.66	88.14	92.35	92.78	93.63
Profit before tax	123.90	148.29	154.32	171.59	201.09	149.33	163.57	163.83	123.53	126.13	120.15	78.28	9.96
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	97.15	102.28	109.35	122.83	147.98	110.95	117.92	123.45	93.11	100.19	94.10	61.70	2.02
EPS in Rs	2.57	2.71	2.89	3.25	3.92	2.95	3.13	3.27	2.47	2.65	2.49	1.63	0.05

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

Quarterly Chart

Profit & Loss - Annual Report

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

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,277	2,470	1,894	1,927	2,558	3,529	3,244	2,660	4,446	5,774	6,420	8,404	8,211
Expenses	2,252	2,319	1,729	1,662	2,175	2,912	2,778	2,143	3,793	5,043	5,383	7,067	7,113
Operating Profit	25	151	165	265	383	616	465	517	653	731	1,037	1,337	1,098
OPM %	1%	6%	9%	14%	15%	17%	14%	19%	15%	13%	16%	16%	13%
Other Income	22	14	16	12	23	20	28	19	28	41	37	47	33
Interest	80	95	72	51	41	37	46	34	29	53	181	461	429
Depreciation	55	58	62	61	61	66	92	110	121	137	217	346	367
Profit before tax	-88	12	47	165	304	533	355	392	532	582	676	577	335
Tax %	-1%	14%	66%	58%	24%	28%	19%	20%	20%	24%	27%	25%
Net Profit	-87	10	16	69	230	383	288	314	426	442	491	435	258
EPS in Rs	-2.51	0.31	0.46	2.01	6.64	11.13	8.31	9.10	11.29	11.70	13.01	11.51	6.82
Dividend Payout %	0%	32%	54%	30%	11%	16%	42%	38%	44%	47%	42%	48%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
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

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	34	34	34	34	34	34	34	38	38	38	38	39
Reserves	473	1,010	1,096	1,343	1,615	1,665	1,901	2,576	2,792	3,209	3,660	3,967
Borrowings	1,220	1,022	758	717	793	617	724	786	1,029	4,983	5,571	4,989
Other Liabilities	285	524	691	776	944	995	1,067	1,385	1,573	3,066	2,453	2,299
Total Liabilities	2,012	2,590	2,580	2,871	3,387	3,311	3,726	4,785	5,433	11,295	11,722	11,295
Fixed Assets	851	1,416	1,388	1,399	1,500	1,640	1,742	1,934	1,968	6,892	6,595	7,145
CWIP	80	80	80	67	175	306	267	175	1,130	433	732	566
Investments	86	228	291	316	362	155	196	588	234	433	516	464
Other Assets	995	867	822	1,090	1,350	1,210	1,521	2,087	2,101	3,537	3,879	3,119
Total Assets	2,012	2,590	2,580	2,871	3,387	3,311	3,726	4,785	5,433	11,295	11,722	11,295

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	35	422	346	293	290	532	385	290	504	1,105	760	1,576
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	-180	217	-31	3,381	-64	-990
Net Cash Flow	1	39	-27	148	-58	36	3	-34	-78	272	6	-89
Free Cash Flow	2	388	306	198	58	301	271	-16	-392	573	-4	851
CFO/OP	24%	262%	143%	94%	68%	129%	87%	60%	92%	127%	70%	158%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	2.00	388.00	306.00	198.00	58.00	301.00	271.00	-16.00	-392.00	573.00	-4.00	851.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	83	77	84	88	74	68	66	97	91	70	97	78
Inventory Days	85	56	66	72	68	73	54	101	70	48	82	80
Days Payable	89	28	74	123	88	81	70	134	106	80	147	100
Cash Conversion Cycle	79	105	77	37	54	60	51	64	55	38	32	57
Working Capital Days	-25	-34	-80	-57	-34	-1	-4	15	17	4	-11	-24
ROCE %	-0%	6%	6%	11%	17%	25%	16%	17%	18%	17%	14%	12%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	51.41%	51.41%	51.41%	51.41%	51.41%	51.41%	51.41%	51.41%	51.41%	53.38%	53.38%	53.38%
FIIs	7.07%	7.12%	6.68%	5.29%	4.99%	5.24%	5.58%	5.53%	6.08%	5.68%	5.56%	5.79%
DIIs	7.78%	6.25%	5.61%	6.41%	6.80%	6.70%	8.93%	9.89%	10.77%	10.20%	10.99%	11.26%
Government	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.19%	1.19%	1.19%
Public	32.51%	33.98%	35.07%	35.66%	35.56%	35.44%	32.83%	31.95%	30.51%	29.55%	28.90%	28.37%
No. of Shareholders	1,88,648	2,18,524	2,41,489	2,40,162	2,77,335	3,03,531	2,92,570	2,87,329	2,85,546	2,81,584	2,84,488	2,75,244

Shareholding Pattern Chart

No. of Shareholders

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

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Balanced Advantage Fund	6,278,237	0.16	167	N/A	N/A	N/A
Bandhan Small Cap Fund	6,136,344	0.85	163.23	5,833,060	2026-01-26 08:21:04	5.2%
Tata Small Cap Fund	4,332,988	1.07	115.26	1,844,399	2025-12-08 00:58:55	134.93%
Aditya Birla Sun Life Value Fund	1,544,435	0.66	41.08	N/A	N/A	N/A
Aditya Birla Sun Life Small Cap Fund	1,099,652	0.61	29.25	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	1.00	1.00	2.00	2.00	2.00
Basic EPS (Rs.)	13.00	11.70	11.81	18.22	16.68
Diluted EPS (Rs.)	13.00	11.70	11.81	18.22	16.68
Cash EPS (Rs.)	18.76	15.34	28.99	24.61	22.04
Book Value[Excl.RevalReserv]/Share (Rs.)	86.10	75.21	138.93	112.74	99.01
Book Value[Incl.RevalReserv]/Share (Rs.)	86.10	75.21	138.93	112.74	99.01
Revenue From Operations / Share (Rs.)	170.01	152.96	235.57	154.31	188.21
PBDIT / Share (Rs.)	28.46	20.45	36.11	31.10	28.61
PBIT / Share (Rs.)	22.70	16.82	29.70	24.71	23.25
PBT / Share (Rs.)	17.92	15.41	28.16	22.75	20.59
Net Profit / Share (Rs.)	13.01	11.71	22.59	18.22	16.68
NP After MI And SOA / Share (Rs.)	13.01	11.70	22.57	18.20	16.63
PBDIT Margin (%)	16.73	13.36	15.32	20.15	15.20
PBIT Margin (%)	13.35	10.99	12.60	16.01	12.35
PBT Margin (%)	10.53	10.07	11.95	14.74	10.93
Net Profit Margin (%)	7.65	7.65	9.58	11.80	8.86
NP After MI And SOA Margin (%)	7.64	7.65	9.58	11.79	8.83
Return on Networth / Equity (%)	15.12	15.61	16.29	16.20	16.86
Return on Capital Employeed (%)	10.60	17.73	17.46	16.26	17.55
Return On Assets (%)	4.34	8.13	8.90	8.41	8.66
Long Term Debt / Equity (X)	1.16	0.14	0.08	0.15	0.12
Total Debt / Equity (X)	1.48	0.33	0.26	0.29	0.32
Asset Turnover Ratio (%)	0.76	1.20	1.05	0.75	0.97
Current Ratio (X)	1.07	1.09	1.44	1.33	1.11
Quick Ratio (X)	0.75	0.77	1.06	0.92	0.79
Inventory Turnover Ratio (X)	5.77	8.00	6.04	4.11	5.56
Dividend Payout Ratio (NP) (%)	42.28	46.98	44.30	38.46	42.09
Dividend Payout Ratio (CP) (%)	29.31	35.88	34.50	28.46	31.83
Earning Retention Ratio (%)	57.72	53.02	55.70	61.54	57.91
Cash Earning Retention Ratio (%)	70.69	64.12	65.50	71.54	68.17
Interest Coverage Ratio (X)	5.94	14.45	23.43	15.82	10.74
Interest Coverage Ratio (Post Tax) (X)	3.72	9.28	15.66	10.27	7.26
Enterprise Value (Cr.)	14557.51	5237.43	4848.91	3596.70	1482.99
EV / Net Operating Revenue (X)	2.27	0.90	1.09	1.35	0.45
EV / EBITDA (X)	13.55	6.79	7.11	6.71	3.01
MarketCap / Net Operating Revenue (X)	1.58	0.75	0.97	1.24	0.33
Retention Ratios (%)	57.71	53.01	55.69	61.53	57.90
Price / BV (X)	3.12	1.55	1.65	1.70	0.63
Price / Net Operating Revenue (X)	1.58	0.75	0.97	1.24	0.33
EarningsYield	0.04	0.10	0.09	0.09	0.26

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

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

PCBL Ltd: the stored intrinsic value estimate is ₹177.69, compared with a stored share price of ₹345.00. The model value is 48.5% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for PCBL Ltd?

The stored share price is ₹345.00. Price-data record updated: 24 September 2026, 3:16 am +05:30. This is not a live quote. The stored 52-week high / low is 394/226; this is a rolling range, not a financial-year range.

How have PCBL Ltd's revenue and profit changed?

Does PCBL Ltd's profit convert into cash?

What should I check in PCBL Ltd's balance sheet?

Reported borrowings were ₹4,989.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare PCBL Ltd's P/E with other stocks?

The stored P/E is 51.40. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change PCBL Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.