PCBL Chemical Ltd

Q2 FY26Chemicals & Petrochemicals

PCBL Chemical Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹318

Market cap₹13.0K Cr

P/E49.0

Updated23 Aug 2026

Read5 min read

The short version

Carbon Black: Focus on utilizing full capacity with gradual volume increase; specialty volumes expected to reach 72,000-73,000 tons this year with long-term EBITDA per ton improving to Rs. PCBL Chemical Limited expects EBITDA per ton to improve from the current Rs.

From PCBL Chemical Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Carbon Black: Focus on utilizing full capacity with gradual volume increase; specialty volumes expected to reach 72,000-73,000 tons this year with long-term EBITDA per ton improving to Rs. 24,000-25,000 (from current Rs. 16,000 affected by tariffs and market softness). Capacity expansions (Tamil Nadu, Mundra, Palej) to come on stream soon, targeting 50% utilization next financial year and full utilization by year-end.
Aquapharm: Targeting Rs. 75 crore EBITDA exit by end of FY'26, driven by new product lines and demand from Europe and Saudi Arabia; positive impact expected from U.S.-China tariff changes benefiting non-Chinese suppliers.
Nano Silicon: Rs. 500 crore investment aiming for Rs. 1,200 crore EBITDA by 2030; pilot plant commissioning expected FY'26 with customer approvals anticipated within 6-9 months thereafter.
Overall Outlook: Despite short-term headwinds (US tariffs, GST, crude price volatility), confident of recovery and growth in volumes and revenues over next 2-3 years.

Profitability & Margins

PCBL Chemical Limited expects EBITDA per ton to improve from the current Rs. 16,000 to a target of Rs. 24,000-25,000 by FY'29-FY'30, driven by product mix changes, operational efficiency, and yield improvements.
The company remains confident about the long-term growth trajectory despite short-term disruptions like US tariffs and GST deferment impacting margins.
Aquapharm aims to achieve an exit EBITDA run rate of Rs. 75 crores by FY’26 end, up from about Rs. 50 crores currently, aided by new product lines and market demand.
Nano silicon project targets substantial EBITDA of Rs. 1,200 crores by 2030, contingent on pilot plant commissioning and customer approvals expected by late FY’26.

2 more points management made on profitability & margins

See what PCBL Chemical Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

PCBL Chemical is commissioning several strategic projects over the next 18 months to position for sustained growth.
Specialty Black Line (1,000 MTPA) for super conductive grades to be commissioned in Palej, Gujarat by November 2025.
Brownfield expansion of 90,000 MTPA rubber line in Tamil Nadu is under commissioning and expected operational within the current quarter.
Specialty Black Line (20,000 MTPA) in Mundra likely to be preponed to March 2026.
Nano silicon technology investment of Rs. 500 crores targeting Rs. 1,200 crores EBITDA by 2030, with pilot plant commissioning expected by FY'26.
CAPEX plans to expand capacity and enhance product mix, including de-bottlenecking acetyl chloride production.

2 more points management made on capital expenditure plans

Top-ranked in Chemicals & Petrochemicals

Ranked on what management guided this quarter

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2Solar Industries₹1.8L Cr

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3₹1.7K Cr

Rev 2Mar 1

4₹4.8K Cr

Rev 2Mar 3

5₹3.7K Cr

Rev 3Mar 1

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

There is no explicit mention of any immediate or planned fundraising through new debt or equity in the provided transcript.
The company has been focusing on healthy cash generation, as evidenced by improved working capital, reduction in gross debt by over Rs. 300 crores since March 2025, and strong cash generation.
The management expresses confidence in internal cash flows and operational efficiencies to support ongoing expansion plans and CAPEX.

2 more points management made on fundraising & capital structure

See what PCBL Chemical Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript and document do not explicitly mention the current or expected order book or pending orders for PCBL Chemical Limited. However, some relevant points indicating business momentum and future expectations include: - Discussions have started with global players for next year contracts, with trials for increased capacity utilization beginning soon. - The company aims to utilize over 50% of new capacity in the next financial year, targeting full utilization by the year-end. - Aquapharm's new product lines and demand drivers are expected to increase order flow and EBITDA to about Rs. 75 crores by year-end.

2 more points management made on order book & pipeline

PCBL Chemical Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹2.1K Cr, net profit ₹40 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What PCBL Chemical's management said in earlier quarters

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Frequently Asked Questions

What were PCBL Chemical Ltd Q2 FY26 results?

What is PCBL Chemical Ltd share price analysis?

PCBL Chemical Ltd currently shows a neutral. The stock trades at a P/E of 49.0 with a market cap of ₹12,963 Cr. Investors should review the full earnings analysis for detailed insights.

Is PCBL Chemical Ltd planning capital expenditure?

PCBL Chemical is commissioning several strategic projects over the next 18 months to position for sustained growth. - Specialty Black Line (1,000 MTPA) for super conductive grades to be commissioned in Palej, Gujarat by November 2025. - Brownfield expansion of 90,000 MTPA rubber line in Tamil Nadu is under commissioning and expected operational within the current quarter. - Specialty Black Line (20,000 MTPA) in Mundra likely to be preponed to March 2026. - Nano silicon technology investment of Rs.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.