PCBL Chemical (PCBL) Q2 24/25 earnings summary

Executive summary

• Consolidated carbon black sales volume rose 14% year-on-year to 1.48 lakh tons in Q2 FY25, with revenue up 45% to INR 2,163 crores, driven by higher realizations, volumes, and Aquapharm Chemicals acquisition.

• EBITDA grew 53% year-on-year to INR 369 crores; EBIT at INR 164 crores and PAT at INR 123 crores; EBITDA per ton in carbon black reached INR 21,324.

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2024, were approved, showing continued profitability and growth in both revenue and net income.

• Re-appointment of Mr. Kaushik Roy as Managing Director for three years, effective February 5, 2025, subject to shareholder approval.

• Change of company name to "PCBL Chemical Limited" approved and application submitted to authorities.

Financial highlights

• Q2 FY25: Consolidated revenue INR 2,163.20 crores, EBITDA INR 369 crores, EBIT INR 164 crores, PAT INR 123.45 crores.

• H1 FY25: Revenue INR 4,307 crores, EBITDA INR 738 crores.

• Aquapharm Q2 FY25: Revenue INR 362 crores, EBITDA INR 50 crores, sales volume 24,510 tons, capacity utilization above 75%.

• Total comprehensive income (consolidated) for the quarter was ₹268.27 crore.

• Earnings per share (consolidated, basic) for Q2 FY25 was ₹3.27.

Outlook and guidance

• Aggressive capacity expansion in carbon black, water treatment, detergent, and oil & gas chemicals underway.

• Carbon black capacity to reach 880,000 tons by FY26 and targeting 1 million tons by FY27-28.

• Aquapharm expansion of 38,000 tons to be commissioned by March 2025.

• Battery chemicals JV expects commercial plant by FY27, targeting INR 2,000 crore top line and 50% EBITDA margin.

• The company continues to focus on diversification and innovation, with investments in new chemical and battery technology ventures.