PCBL Ltd (formerly Phillips Carbon Black Ltd) is a leading Indian manufacturer of carbon black—a critical reinforcing agent used in tyres, rubber goods, and industrial products. Incorporated in 1987 and headquartered in Mumbai, the company operates six manufacturing facilities across India and has a strong presence in export markets. With over 30% market share in India, PCBL is the largest carbon black producer in the country and among the top 10 globally. Despite recent profit contraction due to raw material volatility, the company maintains strong return ratios and a strategic focus on sustainability and capacity expansion. This article provides a data-backed outlook on the PCBL share price target 2026–2030.
PCBL Ltd: Company Overview
- Founded: 1987
- Headquarters: Mumbai, Maharashtra
- Key Product: Carbon Black (used in tyres, rubber, plastics, inks)
- Market Position: #1 in India (~30% share); Top 10 globally
- Strategic Edge: Backward integration in feedstock, ESG-compliant production, export diversification
PCBL benefits from long-term contracts with global tyre majors (e.g., Michelin, Bridgestone) and a growing focus on specialty carbon black—higher-margin grades used in conductive plastics and battery applications.
PCBL Ltd: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹260.00 |
| Market Capitalization | ₹10,233.96 Cr |
| No. of Shares Outstanding | 39.35 Cr |
| 52-Week High / Low | ₹345 / ₹230 |
| P/E Ratio (TTM) | 28.55 |
| P/B Ratio | 2.36 |
| EPS (TTM) | ₹9.11 |
| Book Value (TTM) | ₹109.99 |
| ROE | 13.05% |
| ROCE | 13.43% |
| Dividend Yield | 2.11% |
| Face Value | ₹1 |
| Cash | ₹215.24 Cr |
| Total Debt | ₹3,255.03 Cr |
| Debt-to-Equity | 0.76 |
| Sales Growth (YoY) | 4.06% |
| Profit Growth (YoY) | -15.42% |
| Promoter Holding | 53.38% |
PCBL Ltd Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹280 – ₹310 |
| 2027 | ₹300 – ₹340 |
| 2028 | ₹320 – ₹380 |
| 2029 | ₹340 – ₹420 |
| 2030 | ₹360 – ₹460 |
PCBL Ltd Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹280 | ₹310 |
PCBL reported a 15.42% YoY decline in profit in FY2025 due to elevated feedstock (Furnace Oil) costs and lower realizations in export markets. However, its ROCE (13.43%) and ROE (13.05%) remain healthy for a commodity player. Trading at a P/E of 28.5x—slightly above sector average—the stock reflects optimism around margin recovery. A 2026 target of ₹280–₹310 assumes stabilization in input costs and volume growth.
PCBL Ltd Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹300 | ₹340 |
The company’s capacity expansion (new plant in Mundra) and shift toward specialty carbon black (25% of revenue by FY25) support margin resilience. If EPS reaches ₹10.50–₹11.50 by FY27 and P/E holds at 28–30x, the 2027 range of ₹300–₹340 is realistic.
PCBL Ltd Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹320 | ₹380 |
By 2028, benefits from full-scale operations at new plants and higher-value product mix should reflect in profitability. Assuming EPS of ₹11.50–₹12.50 and P/E of 28–30x, the ₹320–₹380 band is justified.
PCBL Ltd Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹340 | ₹420 |
Long-term tailwinds include rising EV tyre demand (carbon black improves grip and durability) and global supply chain diversification away from China. Using a P/E of 29–31x on projected EPS (~₹12–₹13.50), the 2029 target is ₹340–₹420.
PCBL Ltd Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹360 | ₹460 |
Over a five-year horizon, PCBL’s value lies in its irreplaceable role in the tyre value chain and strategic pivot to specialty grades. A terminal P/E of 30–32x on FY30 EPS (~₹12–₹14.40) supports the ₹360–₹460 range.
PCBL Ltd: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters | 53.38% |
| Public & Retail | 29.56% |
| Domestic Institutional Investors (DII) | 11.38% |
| Foreign Institutional Investors (FII) | 5.68% |
| Others | 0.00% |
High promoter holding ensures strategic continuity, while rising retail participation reflects brand trust.
PCBL Ltd: Strengths vs Risks
Strengths:
- Market leader in India with global scale
- Strong ROCE (13.43%) and consistent dividend history (2.11% yield)
- Backward integration reduces feedstock risk
- Specialty carbon black offers margin upside
Risks:
- Profit declined (-15.42%) due to volatile feedstock prices
- High debt (₹3,255 Cr) increases interest burden
- Commodity cyclicality limits pricing power
- P/E of 28.5x leaves a limited margin for error
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate to High |
| Ideal Time Horizon | 3–5+ years |
| Volatility | Higher than market average (commodity stock) |
| Dividend/Income Potential | Yes (2.11% yield + ~60% payout ratio) |
| Best For | Growth-oriented investors seeking India’s manufacturing/export story |
Final Verdict
PCBL Ltd combines market leadership, strategic product diversification, and export resilience. While near-term profits are pressured by input costs, its long-term positioning in the global tyre and specialty chemicals value chain remains strong. Our PCBL share price target 2026–2030 (₹280 to ₹460) reflects steady appreciation driven by execution—not speculation.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – PCBL Consolidated Page (FY2025 + TTM)
- Finology Ticker – PCBL Financial Ratios & Valuation
- PCBL Investor Presentation (Q2 FY26, Nov 2025)
- BSE India – Annual Report FY2025
- International Carbon Black Association – Global Demand Trends 2025
