The shares of India’s largest carbon black maker rose 7.5 percent to a 52-week high of Rs 211.50 per share after the company received two patents on carbon black.
At 3:20 p.m., PCBL Ltd shares were trading at Rs 204.20 per share, up Rs 7.30 or 3.71 percent on the National Stock Exchange from the previous close price. The company has a market capitalization of Rs 7,730 crore.
PCBL disclosed in its exchange filing that the Indian Patent Office had granted the company two patents. The company was issued a Patent for an innovation named “Process for treatment of carbon black and oxidized carbon black obtained thereof”. This patent is in relation to the innovative process of PCBL Limited for modifications of specialty grade carbon black for inks and coating applications.
The second patent was granted for an invention titled “Surface-modified carbon black grades to improve the performance of rubber compounds.” This patent relates to the “innovative carbon black composition developed by PCBL Limited to improve fuel efficiency and tyre life,” according to the company’s exchange filing.
The Ace investor Ashish Kacholia holds 70.84.990 shares in the company as of the June 2024 quarter, equivalent to 1.88 percent.
In the fiscal year FY 22-23, the company reported a net profit margin of 7.65 percent and an operating profit margin of 10.99 percent.
PCBL shares have delivered returns of 77 percent in six months and 53 percent in a year.
PCBL revenue has fallen by 4.4 percent year on year, from Rs 1,409 crore in Q1FY23 to Rs 1,347 crore in Q1FY24. During the same year, the company’s net profit decreased by 13 percent, from Rs 126 crore to Rs 109 crore.
According to the recent shareholding pattern, the company promoters hold 51.41 percent of the company, Domestic institutional investors hold 10.3 percent and retail investors hold a 31.73 percent stake.
PCBL Ltd manufactures and sells carbon black and also does the sale of power. The company is the largest manufacturer and supplier of carbon black in the country catering to the needs of elastomer, plastic, paints, and ink manufacturing industries.
Written by Omkar Chitnis
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