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PCBL LIMITED (PCBL) Fair Value & Analysis

Basic Materials · IN · Market cap ₹126B

PL PCBL LIMITED PCBL · NSE
Price₹315.45
Fair Value₹102.88
Upside-67.4%
Quality37/100
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Mixed Growth
Thin margins · 2.4% net margin
Moderate debt · generates free cash flow
1.88% dividend yield
Trails peers (4/14)
Narrow moat 29/100
Evidence: High Range ₹76.05 – ₹128.60 Share as image

Fair value as of: Aug 13, 2026

From 25 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from ₹85.49 to ₹102.88 (+20.3%) since Aug 8, 2026. Share price −1.7% over the past month.

Below-average quality, and screening another 67% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (₹128.60). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

₹554.61 ₹81.62 Fair Value ₹102.88 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹81.62 – ₹554.61 · fair‑value band ₹76.05 – ₹128.60 · the ₹315.45 price screens above the ₹102.88 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

PCBL LIMITED (PCBL) currently trades at ₹315.45, while our model-based Fair Value estimate is ₹102.88, implying the stock looks roughly 67.4% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, PCBL LIMITED generated revenue of ₹81.9B at a net margin of 2.4%. Revenue declined 1.0% year over year. It earns a return on equity of 5.1%. Net debt stands at ₹47.0B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹76.05 (bear case) to ₹128.60 (bull case); at ₹315.45, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 27% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -68% fair-value upside, at -67%, PCBL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹66.48 ₹178.02 ₹370.85 80
Residual Income ₹78.78 ₹80.55 ₹77.93 76
Rev-Margin DCF ₹76.67 ₹198.19 ₹358.65 74
All 25 models by family
DCF Models
FCF DCF ₹68.29 ₹192.09 ₹413.49 38
5Y Revenue Exit ₹76.67 ₹202.55 ₹376.93 39
5Y EBITDA Exit ₹97.52 ₹246.43 ₹437.00 41
5Y P/E Exit ₹11.70 ₹65.85 ₹127.23 38
10Y Revenue Exit ₹67.34 ₹187.18 ₹377.81 36
10Y EBITDA Exit ₹86.73 ₹219.71 ₹429.10 37
10Y P/E Exit ₹29.34 ₹85.83 ₹164.57 35
Earnings-Based
Graham-Dodd ₹34.20 ₹169.94 ₹234.43 54
Lynch FV ₹45.87 ₹65.53 ₹85.19 50
PEG = 1.0 ₹45.87 ₹65.53 ₹85.19 46
EPV ₹72.06 ₹96.40 ₹117.69 59
Dividend Discount
Gordon GGM ₹52.85 ₹109.89 ₹174.33 70
DDM Multi-Stage ₹52.85 ₹92.66 ₹115.33 61
Multiples
P/E Multiple ₹64.12 ₹85.49 ₹106.86 63
P/S Multiple ₹64.12 ₹85.49 ₹106.86 58
P/B Multiple ₹64.12 ₹85.49 ₹106.86 55
EV/EBIT ₹104.91 ₹164.53 ₹224.15 53
EV/EBITDA ₹124.87 ₹191.14 ₹257.40 54
EV/Revenue ₹81.07 ₹147.50 ₹213.93 43
Asset-Based
NCAV (Graham) ₹50.91 ₹68.22 ₹101.82 50
Growth DCF
Growth DCF ₹66.48 ₹178.02 ₹370.85 80
Rev-Margin DCF ₹76.67 ₹198.19 ₹358.65 74
Economic Profit
Residual Income ₹78.78 ₹80.55 ₹77.93 76
ROIC Compounder ₹72.06 ₹96.40 ₹140.54 72
Growth Earnings
Growth-Adj P/E ₹63.20 ₹90.29 ₹117.37 68

Widest divergence: DCF Models (₹192.09) versus Earnings-Based (₹65.53). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹81.9B
Revenue growth (YoY) -1.0%
Net margin 2.4%
Return on equity 5.1%
Free cash flow ₹4.2B FY2026
P/E ratio 61.5
More key figures
Operating margin 7.2%
EPS (TTM) ₹5.13
Dividend yield 1.9%
EPS growth (YoY) -61.3%
Net debt ₹47.0B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 39 · Market factors (momentum, volatility) 47

Profitability 31
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 34
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 69
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

PCBL Chemical Limited, together with subsidiaries, produces, sells, and exports carbon black in India and internationally. The company operates through Carbon Black, Power, Chemicals, and Battery Chemical segments.

Full company description

PCBL Chemical Limited, together with subsidiaries, produces, sells, and exports carbon black in India and internationally. The company operates through Carbon Black, Power, Chemicals, and Battery Chemical segments. It offers carbon black for tires, performance chemicals, specialty chemicals, and other materials under the CarboNext, ECOZEN 6000, Royale Black, Bluemina, NuTone, and Energia brands. The company also provides phosphonates under the AQUACID brand and polymers and green chelates for household, industrial, and institutional cleaning, as well as for industrial water treatment. In addition, it engages in the manufacture, market, and sale of water treatment chemicals and oil and gas chemicals, including phosphonates, low molecular weight polymers, tetrasodium glutamate diacetate, methylglycinediacetic acid, imidazoline, triazine, quaternary ammonium chlorides, biocides, and other downstream chemicals. Further, the company generates and distributes electricity from the tail gas recovered from carbon black production. Additionally, it develops nano-silicon additives used in the anode of lithium-ion batteries. The company was formerly known as PCBL Limited and changed its name to PCBL Chemical Limited in October 2024. PCBL Chemical Limited was incorporated in 1960 and is based in Kolkata, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

PCBL LIMITED reported revenue of ₹81.9B in FY2026 versus ₹44.5B in FY2022, a compound +16.5%/yr. Reported net income was ₹2.0B in FY2026, compounding −17.4%/yr from FY2022.

Growth Quality 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹81.9B
Latest YoY
−2.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.4%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+25.2%
Avg. growth/yr (20Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.9%
Revenue +16.5%/yr
FY22 ₹44.5B
FY23 ₹57.7B
FY24 ₹64.2B
FY25 ₹84.0B
FY26 ₹81.9B
Net income −17.4%/yr
FY22 ₹4.3B
FY23 ₹4.4B
FY24 ₹4.9B
FY25 ₹4.3B
FY26 ₹2.0B
Character of growth · EPS growth decomposed (2015-2026) +30.0 % p.a.
Revenue per share +14.2 pp

of which total revenue +15.5 pp · buybacks/dilution −1.3 pp

EBIT margin −2.1 pp
Tax rate +6.3 pp
Residual (interest, one-offs) +11.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

PCBL screens 67% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "PCBL LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/PCBL

Peer Group

Specialty Chemicals · 672 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 37 · Bottom 25%
Fair Value upside −67% · Bottom 25%
Return on equity (TTM) 5% · Below median
Return on assets 4% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 7% · Above median
Revenue growth -1% · Below median
Dividend yield (TTM) 1.9% · Above median
Debt / equity 0.80× · Higher than 75% of peers

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 61.5× · Pricier than 75% of peers
P/B 3.15× · Pricier than median
P/S (TTM) 1.54× · Pricier than median
P/FCF 0.3× · Cheaper than median
EV/EBITDA 14.9× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 0 · sector 18
PAST 21 · sector 23
HEALTH 60 · sector 95
DIVIDEND 38 · sector 31

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Solar Industries India Limited SOLARINDS ₹18,730 ₹2,793 -85%
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PT Chandra Asri Pacific Tbk TPIA 2,160 IDR 2,322 IDR +8%
Berger Paints India Limited BERGEPAINT ₹559.80 ₹154.46 -72%
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Frequently asked questions

Is PCBL LIMITED (PCBL) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹102.88 versus a price of ₹315.45, about −67% (overvalued).
What is the fair value of PCBL?
Our model-based fair value for PCBL LIMITED is ₹102.88 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹315.45.
What is the quality score of PCBL?
PCBL LIMITED has a Quality Score of 37/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of PCBL LIMITED (PCBL)?
PCBL LIMITED reported trailing-twelve-month revenue of about ₹81.9B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of PCBL?
The net profit margin of PCBL LIMITED is about 2.4%, meaning it keeps roughly 2.4% of revenue as net income. Based on the latest reported figures.
Does PCBL LIMITED pay a dividend?
PCBL LIMITED currently shows a dividend yield of about 1.88% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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