The shares of India’s largest carbon black maker rose 6 percent to a 52-week high of Rs 269.85 per share after the company received two patents on carbon black.
At 12:30 p.m., PCBL Ltd shares were quoted at Rs 265.40 per share, up 4.33 percent from the previous close price. The company has a market capitalization of Rs 10,021 crore.
On 28 November 2023, PCBL Limited’s board of directors approved the acquisition, directly or through one of its affiliates, of 2,12,172 shares of Aquapharm Chemicals Private Limited (“ACPL”), for an aggregate consideration of Rs 3,800 crores representing 100% of the issued and paid-up share capital of ACPL.
This acquisition of ACPL marks PCBL’s foray into global specialty segments of Water Treatment Chemicals and Oil & Gas Chemicals and it is the first milestone in achieving the vision of creating a multi-platform global specialty chemical business portfolio.
PCBL receives 30 percent revenue from the International Market and 70 percent revenue from the domestic market.
The company’s carbon black Global Capacity has grown at 2.5% CAGR over the past decade in line with global demand growth. whereas Indian capacity has grown at 6% CAGR over the last decade.
The Ace investor Ashish Kacholia holds 70,84,990 shares in the company which is equivalent to 1.88 percent as of the September quarter of 2023.
PCBL shares have delivered returns of 95 percent in six months and 90 percent in a year.
PCBL revenue has fallen by 8.6 percent year on year, from Rs 1,627 crore in Q2FY23 to Rs 1,486 crore in Q2FY24. During the same year, the company’s net profit marginally increased by 5 percent, from Rs 116 crore to Rs 122 crore.
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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