PCBL · Chemicals
PCBL Chemical Ltd. reported revenue of ₹1,487 cr for July to September 2023, — on the year and +10.3% on the quarter.
Operating profit (EBITDA) was ₹238 cr, a margin of 16.0%, — on the year and +35 bps on the quarter.
Net profit was ₹123 cr, — on the year and +12.8% on the quarter, with earnings per share of ₹3.25.
Speciality chemicals are read on volumes and pricing, with Chinese supply a recurring swing factor; inventory destocking can hit a quarter without a change in demand. The quarterly statements do not carry volumes against prices, capacity utilisation and new molecules; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,487 cr | ₹1,657 cr | ₹1,929 cr | ₹2,144 cr | ₹2,163 cr | ₹2,010 cr | ₹2,087 cr | ₹2,114 cr | ₹2,164 cr | ₹1,846 cr | ₹2,066 cr | ₹2,473 cr |
| YoY | — | — | — | +59% | +45% | +21% | +8% | −1% | +0% | −8% | −1% | +17% |
| EBITDA margin | 16.0% | 16.8% | 16.1% | 16.7% | 16.8% | 15.8% | 14.3% | 15.1% | 12.3% | 11.6% | 11.8% | 16.0% |
| Other income, % of PBT | 2% | 3% | 15% | 7% | 4% | 9% | 16% | 5% | 15% | −50% | 0% | 2% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 28% | 26% | 26% | 28% | 25% | 25% | 21% | 22% | 21% | 80% | 23% | 24% |
| Net profit | ₹123 cr | ₹148 cr | ₹111 cr | ₹118 cr | ₹123 cr | ₹93.0 cr | ₹100 cr | ₹94.0 cr | ₹62.0 cr | ₹2.0 cr | ₹40.0 cr | ₹155 cr |
| YoY | — | — | — | +8% | 0% | −37% | −10% | −20% | −50% | −98% | −60% | +65% |
| Core profit YoY | — | — | — | +2% | −7% | −42% | −16% | −25% | −58% | −87% | −51% | +75% |
| EPS | ₹3.25 | ₹3.92 | ₹2.95 | ₹3.13 | ₹3.27 | ₹2.47 | ₹2.65 | ₹2.49 | ₹1.63 | ₹0.05 | ₹1.02 | ₹3.94 |
| Flags | · | · | · | 1 | 1 | 1 | ✓ | ✓ | 1 | 1 | 1 | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
PCBL Chemical Ltd. reported revenue of ₹1,487 cr (— on the year) and net profit of ₹123 cr (— on the year) for July to September 2023.
None of the 2 checks that could run raised a question.
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