PCBL Chemical Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Published 20 Aug 2026 | Chemicals & Petrochemicals | Market Cap: ₹12.5K Cr

Carbon black volume growth expected at high single digits (7-10%) for FY27 with more than double-digit EBITDA growth. PCBL Chemical Limited expects **double-digit growth in EBITDA per ton for FY27**, with a 14-15% increase anticipated due to pricing, product mix improvements, and cost initiatives.

From PCBL Chemical's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹317.55

Market Cap

₹12.5K Cr

P/E Ratio

47.2

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PCBL Chemical — 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.

Full financials →

📊 Revenue & Sales Performance

→Carbon black volume growth expected at high single digits (7-10%) for FY27 with more than double-digit EBITDA growth.
→Green chelates (Aquapharm) revenue expected to grow significantly, with 20-25% top-line growth forecast for FY27.
→Expansion plans underway for green chelates capacity post product approvals from P&G and Henkel; trial orders received and supplies started.
→Tyre business volumes expected to increase from Q1 FY27 onwards, recovering from slight QoQ decline.
→Aquapharm EBITDA projected to improve strongly, targeting INR75 crores quarterly run rate, and potentially INR50-55 crores EBITDA per quarter next year.
→Market expansions through India-EU FTA and increased exports to the US post tariff reduction expected to drive volume and revenue growth.
→Battery chemical segment (Nanovace) to begin commercial volume ramp-up from FY28 after pilot plant commissioning and product validations.
→Overall revenue growth driven by volume increases, improved product mix, pricing, and cost efficiency initiatives.

📈 Profitability & Margins

→PCBL Chemical Limited expects **double-digit growth in EBITDA per ton for FY27**, with a 14-15% increase anticipated due to pricing, product mix improvements, and cost initiatives.
→**Volume growth** for carbon black is expected to be **high single digits (7-10%)** next year, driving overall revenue and profitability growth.
→The Aquapharm segment is projected to see **20-25% top-line growth in FY27**, with EBITDA expected to increase significantly, potentially returning to INR50-55 crores per quarter.
→The company anticipates **higher tyre business volumes from Q1 FY27 onwards**.
→Profitability is expected to **surpass FY25 base case EBITDA and PAT** levels.
→Long-term guidance remains robust, with a target of INR40 billion EBITDA by 2030 still on track despite current short-term challenges.
→Battery chemicals business pilot is ready; **commercial volumes expected from FY28**, contributing future profits.

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

🏗️ Capital Expenditure Plans

→PCBL Chemical Limited is in the process of expanding capacity for green chelates in Aquapharm, awaiting product approvals from P&G, Henkel, and others before setting up additional capacity.
→The company plans significant capacity additions for Aquapharm's green chelates portfolio in FY27 and FY28 as sales increase.
→A pilot plant for the battery chemicals business (Nanovace) at Palej is ready for commissioning soon, with commercial volumes expected to start in FY28 after validation.
→A project on coal-tar-based feedstock diversification is underway, with feasibility being finalized and capex investment sign-off expected in upcoming calls.
→Cost reduction initiatives targeting INR 200-250 crores savings over 4-6 quarters are ongoing, including yield improvement, throughput enhancement, and feedstock diversification.
→PCBL aims to continue investing in growth capex while reducing overall debt, with net leverage expected to decline.

💰 Fundraising & Capital Structure

→The company has reduced overall borrowings by approximately INR 450 crores in the current year.
→Working capital management has improved, with tighter controls on receivables and inventory.
→Despite higher crude prices, the company expects to require only around INR 100 crores of incremental working capital.
→Cash generation from higher volumes and better margins is expected to comfortably cover growth investments, shareholder payouts, and incremental working capital needs.
→There is no explicit mention of new fundraising through debt or equity in the provided transcript.
→The management emphasizes maintaining capital discipline and generating cash internally to fund growth and reduce leverage.

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

📋 Order Book & Pipeline

→PCBL Chemical has started receiving trial orders from key customers like P&G and Henkel for their green chelates portfolio (Aquapharm segment).
→Supplies for these trial orders have commenced, with significant volume and revenue ramp-up expected from Q2 and Q3 FY27 onwards as product approvals come through.
→The potential market opportunity for these customers is large, exceeding their current capacity of 4,000 tons, indicating plans for capacity expansion once approvals are received.
→The company is also working with additional customers for product approvals in the non-detergent segment to broaden the order book.
→Overall, the order pipeline is strong, with Aquapharm expected to see 20-25% revenue growth in FY27 fueled by these new and incremental allocations.

Key Metrics

What PCBL Chemical Ltd's management said in earlier quarters

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Frequently Asked Questions

What were PCBL Chemical Q4 FY26 results?

What is PCBL Chemical share price analysis?

PCBL Chemical currently shows a neutral. The stock trades at a P/E of 47.2 with a market cap of ₹12,494 Cr. Investors should review the full earnings analysis for detailed insights.

Is PCBL Chemical planning capital expenditure?

PCBL Chemical Limited is in the process of expanding capacity for green chelates in Aquapharm, awaiting product approvals from P&G, Henkel, and others before setting up additional capacity.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.