Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Petro Carbon and Chemicals Ltd. (PCCL)
SME CapIndustrials stocks · SME cap · NSE
Petro Carbon and Chemicals Limited (PCCL) manufactures and markets Calcined Petroleum Coke (CPC), a key raw material for aluminum and steel sectors. Incorporated in 2007, it operates on a B2B model, supplying to major clients like NALCO and Hindalco. The group has a 70-year history in mining and minerals.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals20 Oct 2026 · screener
Latest result20 May, 10:15 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
68Bullishfull bull SMA stack · SMA20 +4.8% / mo · MACD − · near 52W high
Stock trend: 79
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
PCCLD candles · FIT view+58.8%Latest close ₹440.00 on 2026-10-19
Bar
-0.5%
RSI
61
MACD hist
-0.89
52W pos
93%
2026-10-19O ₹442.00H ₹459.90L ₹440.00C ₹440.00Vol 5,200 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
PCCLNifty India ManufacturingNifty 500
- PCCL
- +70.6%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- +76.2 pp
Chart stats
19 Oct 2026- From 52W high
- -4.3%
- 52W range position
- 93%
- ATR (14)
- 3.8%
- Volume vs 20D
- 0.64x
- Avg traded value
- ₹0.4 Cr
- 20D price channel
- ₹391.1 - ₹459.9
₹459.9
₹168.4 - ₹459.9
₹16.6
Latest completed session
20-session average
43.6% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · WATCHLIST41
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Bullish68
Price trend and sector-relative-strength timing.
Valuation
Legacy model-7.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence62
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹316 Cr | NDF | +21.5% |
| EBITDA | ₹40 Cr | NDF | +150.0% |
| Operating margin | 12.0% | NDF | +600 bps |
| PAT | ₹23 Cr | NDF | +666.7% |
| PAT margin | 7.3% | NDF | +613 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 42.90
- P/B
- 5.56
- EV/EBITDA
- 21.08
- Market Cap
- 1087.00Cr
Profitability
- ROE
- 13.80%
- ROCE
- 14.10%
- ROA
- 5.68%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 94.93%
- EPS 5Y
- 188.89%
- Revenue 3Y
- 94.93%
- EPS 3Y
- 188.89%
Balance Sheet
- Debt/Equity
- 1.02
- Interest Coverage
- 3.24×
- Altman Z
- 4.82
- Book Value
- 79.10
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- 4.00 Cr
- EPS TTM
- 10.40
Shareholding
- Promoter Hold
- 73.21%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 93%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 577+94.9% vs prev
Net Profit
₹ CrLatest: 26.0+188.9% vs prev
Return on Equity
%Latest: 13.3+152.3% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bullish setupTrend is constructive — long-term uptrend intact. RSI 61.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~4.6% over last month) — short-term momentum positive.
- RSI(14) at 61 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 4% off 52W high · 159% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
96
RS percentile
Stage 2 UptrendEstablished S2
1M return
-1.1%
3M return
+70.6%
6M return
+58.8%
1Y return
+137.8%
RS 1D
0
RS 20D
-1
Sector rank
#2
Industry rank
#9
Stage evidence
- Price is 41.5% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +9.8%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
09 Jul 2026
S2 age
71 trading sessions
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
260 observations
19 Oct 2026Value 260.95+0.81%
RS vs Nifty 500261
Valuation & peers
U-Score 41 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 41 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth23/25
Quality7/20
Balance Sheet6/15
Cash Flow1/10
Piotroski
7/9 (+5)
Penalties
-1
Raw sum
41
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
41/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 7/9.
- Growth contributes 23/25 to the score.
- Balance sheet contributes 6/15 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -7.7%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
42.9
PB
5.6
EV/EBITDA
21.1
ROE
13.8%
ROCE
14.1%
FCF Yield
—
Debt/Equity
1.0
MoS
-7.7%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE. Debt/equity is 1.0, so downturn resilience matters.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
41
Previous: 41
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-7.7%
Previous: -7.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
41
41
43
43
41
41
41
41
41
41
41
41
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹136.05
-223.4% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹408.72
-7.7% MoS
PEG
0.23
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SACHEEROME
SME
Sacheerome Ltd.
Specialty Chemicals
match 138
58
39.4
27.0%
+8%
FAIR VALUE
MWL
Small
Mangalam Worldwide Limited
Specialty Chemicals
match 132
55
21.5
18.0%
+44%
FAIR VALUE
NEPTUNE
SME
Neptune Petrochemicals Ltd.
Specialty Chemicals
match 132
62
13.2
25.6%
+66%
UNDERVALUED
AMNPLST
Small
Amines & Plasticizers Limited
Specialty Chemicals
match 132
39
22.9
13.2%
-159%
WATCHLIST
SILKFLEX
SME
Silkflex Polymers (India) Ltd.
Specialty Chemicals
match 132
58
28.7
29.2%
+37%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-08-21T07:47:07.845Z
Management commentary snapshot
FY25 consolidated total income declined significantly to INR 29,977.30 lakhs from INR 54,035.41 lakhs in FY24. EBITDA margin compressed to 5.83% from 23.63%, and PAT margin fell to 3.20% from 15.31%, primarily due to elevated raw material prices and inability to pass on costs.
PCCL's FY25 performance shows severe margin compression and revenue decline, attributed to raw material price volatility and import dependency. While strategic expansions and diversification efforts are underway, the immediate financial results indicate significant operational challenges that need close monitoring.
Current business mix
Revenue by End-User
Latest issuer-disclosed distribution across 2 reported categories.
Aluminium Industry70.0%
Other Applications30.0%
Growth engines
Diversification into Carbon-Based Recycling
neutralManagement is actively evaluating entry into the carbon-based recycling industry as part of a broader diversification strategy.
Advanced Carbon Materials Production
positiveEnvironmental clearance received for capacity expansion, including up to 72,000 TPA Advanced carbon materials.
Backward Integration
positiveNew subsidiary ACL Alchemy Pvt. Ltd. joined as 50% partner in a firm producing carbon products, strengthening backward integration.
Capacity and execution
10 MW WHRB Power Plant Commissioned
positiveA 10 MW WHRB Power Plant was commissioned at Haldia Oil Refinery to reduce power cost and dependency on external sources.
Carbon Paste Plant Revamp
positiveEnvironmental clearance received for revamp of 48,000 TPA Carbon Paste Plant at Haldia, West Bengal.
Advanced Carbon Materials Capacity
positiveEnvironmental clearance received for up to 72,000 TPA Advanced carbon materials at Haldia, West Bengal.
Tailwinds
Expanding Indian Aluminium Industry
positiveIndian Aluminium majors are expanding, leading to a gradual increase in demand for CPC.
Emerging Li-ion Battery Market
positiveOnce Li-ion component manufacturing is operational in India, it will create an additional market for CPC.
Headwinds
Volatility in Raw Material Prices
negativeThe CPC industry faced headwinds in FY25 due to elevated raw material prices, which could not be fully passed on to customers.
Import Dependency
negativeHeavy reliance on imports for low-sulphur RPC (especially from the U.S. and other Europe and Asian countries) affects cost and availability.
High Energy Consumption
negativeEnergy-intensive calcination process raises operational costs, especially during power/fuel inflation.
Risk radar
Raw Material Price Volatility
negativeIncrease in raw material prices, consequent to the price movement of crude oil, may affect margins.
Competition from International Calciners
negativeThe company may face competition from international calciners.
Single Product Dependence
negativeDependence on a single product (CPC), though new product expansion is underway.
Customer Concentration
negativeDependence on a few big customers.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The company's financial statements are presented annually (FY25 vs FY24) and half-yearly (H2 FY25 vs H2 FY24). Annual comparisons are crucial for assessing long-term trends and mitigating seasonal fluctuations in the industrial manufacturing sector.
Sector KPIs management disclosed
Dispatch Quantity
negativeDispatch Quantity for FY25 was 86,943 MT, down from 92,853 MT in FY24.
EBITDA Margin
negativeConsolidated EBITDA Margin for FY25 was 5.83%, a significant drop from 23.63% in FY24.
PAT Margin
negativeConsolidated PAT Margin for FY25 was 3.20%, down from 15.31% in FY24.
Plant Utilization
neutralThe plant is running with almost 80% to 90% of its capacity since last three years.
Management forward view
Maintaining Profitability Amidst Headwinds
positiveDespite material price headwinds in FY25, PCCL maintained profitability, avoiding any losses due to its agile operations and strict cost control.
Strategic Diversification
neutralManagement is actively evaluating entry into the carbon-based recycling industry as part of a broader diversification strategy aligned with long-term sustainability goals.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| EBITDA Margin | 5.83% (FY25 consolidated) | Recovery towards historical levels (e.g., FY24's 23.63%) indicating improved pricing power or cost control. |
| Raw Material Price Trend | Elevated and volatile | Stabilization or decline in Raw Petroleum Coke (RPC) prices and the company's ability to pass on costs. |
| New Capacity Ramp-up & Contribution | WHRB plant commissioned, environmental clearance for carbon paste and advanced materials capacity received. | Timely commissioning, utilization ramp-up, and revenue/cost savings contribution from new capacities and diversification efforts. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
62Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 35th percentile of the scored universe and 32nd percentile within Industrials. Main check: cash conversion is weak at 43/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
1 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
35th percentile
overall median 67 · Industrials: 32nd pctile, median 68 · SME: 41st pctile, median 64
Evidence depth
Financial-only
1 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
61
acceptable · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 73.2%.
- ▸Promoter pledge is zero.
Trust risks
- ▸Only 0 years of positive FCF.
- ▸Debt/equity is 1.02.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Petro Carbon and Chemicals Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportMar 2026
Mar 2026 · Copy of Newspaper Publication 29 Aug - AGM notice and FY2026 annual report dispatched; 19th AGM on 25 September 2026 via VC/OAVM.
Source: Nse
Investor presentationMay 2025
May 2025 · PPT
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.