Carbon Black Sales Volume
161,865 MT
+8% YoY
Consolidated sales volume for Q4 FY26, driven by domestic growth of 21%.
PCBLCHEMICAL
Manufacturing
13 Apr 2026
PCBL Chemical Ltd — Q4 FY26
PCBL Chemical reported Q4 FY26 consolidated revenue of ₹266 crore and EBITDA of ₹248 crore, impacted by West Asia conflict-driven logistics and raw material cost spikes.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
PCBL Chemical reported Q4 FY26 consolidated revenue of ₹266 crore and EBITDA of ₹248 crore, impacted by West Asia conflict-driven logistics and raw material cost spikes. Carbon black sales volume grew 8% YoY to 161,865 MT, with domestic volume up 21% but exports down 10%. Specialty black volume rose 26% YoY. Management highlighted that cost pass-through will normalize by Q2 FY27, and a ₹200-250 crore cost savings program is on track. The company added 90,000 tons of carbon black capacity and reduced net debt by ₹454 crore. Guidance includes high single-digit volume growth and double-digit EBITDA growth for FY27. Key risk: sustained crude price volatility could delay margin recovery.
Key Numbers
Domestic Sales Volume Growth
105,065 MT
+21% YoY
Domestic carbon black volume grew strongly, offsetting export decline.
Specialty Black Sales Volume
19,386 MT
+26% YoY
Specialty segment continues to gain traction in high-value applications.
Net Debt Reduction
₹4,536 Cr
-₹454 Cr YoY
Balance sheet strengthened despite ₹750 Cr capex spend in FY26.
Management Guidance
High single-digit volume growth in carbon black for FY27
Management expects volume growth of 7-9% driven by new capacity and demand recovery.
Management guidance growthDouble-digit EBITDA growth in FY27
EBITDA expected to grow more than 10% YoY, aided by volume, mix, pricing, and cost savings.
Management guidance marginsCost savings of ₹200-250 crore over 4-6 quarters
Cost initiatives across yield, throughput, and feedstock diversification are on track.
Management guidance marginsAquafarm EBITDA run-rate of ₹75 crore per quarter in 2-3 quarters
Management targets normalized quarterly EBITDA of ₹75 crore for the specialty chemicals business.
Management guidance growthKey Risks
Sustained crude price volatility
Crude at $120/barrel could delay margin normalization and increase working capital needs.
high · management_commentaryWest Asia conflict disruption
Logistics costs and transit times remain elevated, impacting export competitiveness.
high · management_commentaryWorking capital pressure from rising feedstock prices
Analyst raised concern that higher crude could stretch net debt; management expects only ₹100 Cr incremental WC.
medium · analyst_questionDelayed commissioning of specialty black line
1 KT superconductive line at Palaghat delayed due to gas shortage; no timeline given.
low · management_commentaryNotable Quotes
We expect this recovery to consolidate progressively over the next two or three quarters.
The real impact of all the initiatives which Nilesh just spoke about is yet to come; it is still not reflecting in the performance.
We are already in active conversations with customers in these markets and see good headroom for growth.
Frequently Asked Questions
What was PCBL Chemical's revenue in Q4 FY26?
PCBL Chemical reported revenue of ₹2,066 Cr in Q4 FY26, representing a — change compared to the same quarter last year.
What guidance did PCBL Chemical management give for FY27?
High single-digit volume growth in carbon black for FY27: Management expects volume growth of 7-9% driven by new capacity and demand recovery. Double-digit EBITDA growth in FY27: EBITDA expected to grow more than 10% YoY, aided by volume, mix, pricing, and cost savings. Cost savings of ₹200-250 crore over 4-6 quarters: Cost initiatives across yield, throughput, and feedstock diversification are on track. Aquafarm EBITDA run-rate of ₹75 crore per quarter in 2-3 quarters: Management targets normalized quarterly EBITDA of ₹75 crore for the specialty chemicals business.
What are the key risks for PCBL Chemical in FY27?
Key risks include Sustained crude price volatility — Crude at $120/barrel could delay margin normalization and increase working capital needs.; West Asia conflict disruption — Logistics costs and transit times remain elevated, impacting export competitiveness.; Working capital pressure from rising feedstock prices — Analyst raised concern that higher crude could stretch net debt; management expects only ₹100 Cr incremental WC.; Delayed commissioning of specialty black line — 1 KT superconductive line at Palaghat delayed due to gas shortage; no timeline given..
Did PCBL Chemical meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full PCBL Chemical Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.