PCBL Chemical Limited reported a consolidated revenue of INR 2,066 crore for Q4 FY26, navigating geopolitical challenges and increased logistics costs. While sales volume in the carbon black business grew by 8% year-on-year, the company remains focused on strengthening its balance sheet and advancing its specialty chemicals portfolio. Management expressed confidence in future growth, citing structural tailwinds, capacity expansions, and a stronger operating platform heading into FY27.
Financial Performance and Market Resilience
Despite significant disruptions in the West Asia trade routes and raw material price volatility, PCBL Chemical Limited maintained operational stability throughout the fourth quarter. The company recorded consolidated revenue of INR 2,066 crore and EBITDA of INR 248 crore for the quarter. For the full fiscal year 2026, the company demonstrated disciplined capital management, reducing net borrowings by INR 454 crore to INR 4,536 crore, even while investing INR 750 crore in capital expenditure.
Segment Highlights and Capacity Expansion
The carbon black business saw total sales volume increase by 8% year-on-year to 1,61,865 metric tons, with domestic sales volumes surging by 21%. Notably, specialty sales volumes grew by 26%. The company’s total installed capacity for carbon black reached 880,000 tons per annum following a successful 90,000-ton brownfield expansion in Tamil Nadu. Additionally, the company is preparing for the commissioning of new specialty black lines at Palej and Mudra.
Strategic Growth and Future Outlook
PCBL is aggressively diversifying its business, with its battery chemical platform, Nanovace, nearing commissioning at the Palej pilot plant. The company is also implementing cost-reduction initiatives across manufacturing and procurement, expected to unlock INR 200-250 crore in savings over the next 4-6 quarters. Management is optimistic about double-digit EBITDA growth in FY27, supported by high single-digit volume growth in carbon black, strong demand in the tyre sector, and expanded market access through the ratified India-EU FTA.
Aquapharm Business Update
The specialty business, Aquapharm, reported Q4 revenue of INR 339 crore and EBITDA of INR 29 crore. While facing short-term headwinds, the company is confident in achieving a 75 crore per quarter EBITDA run rate in the coming quarters. Growth is expected to be driven by a robust pipeline in the green chelates portfolio and increased demand in the oil and gas sector, with a projected topline growth of 20-25% for FY27.
Source: BSE
