Standalone Financial Performance (₹ Crores)

Quarterly Comparison (Q2 FY27 vs Q1 FY27 vs Q2 FY26):

  • Revenue from Operations: ₹1,694.65 (Q2 FY27) vs ₹1,653.48 (Q1 FY27) vs ₹1,478.01 (Q2 FY26)
  • Total Income: ₹1,710.10 (Q2 FY27) vs ₹1,657.66 (Q1 FY27) vs ₹1,484.44 (Q2 FY26)
  • Profit Before Tax: ₹109.51 (Q2 FY27) vs ₹148.29 (Q1 FY27) vs ₹79.83 (Q2 FY26)
  • Profit After Tax: ₹80.01 (Q2 FY27) vs ₹107.24 (Q1 FY27) vs ₹59.63 (Q2 FY26)
  • Total Comprehensive Income: ₹26.65 (Q2 FY27) vs ₹154.93 (Q1 FY27) vs ₹29.79 (Q2 FY26)

Half-Yearly Comparison (H1 FY27 vs H1 FY26):

  • Revenue from Operations: ₹3,348.13 (H1 FY27) vs ₹2,930.99 (H1 FY26)
  • Total Income: ₹3,367.76 (H1 FY27) vs ₹2,944.76 (H1 FY26)
  • Profit Before Tax: ₹257.80 (H1 FY27) vs ₹204.82 (H1 FY26)
  • Profit After Tax: ₹187.25 (H1 FY27) vs ₹152.72 (H1 FY26)
  • Total Comprehensive Income: ₹181.58 (H1 FY27) vs ₹150.97 (H1 FY26)

Key Standalone Metrics:

  • Earnings Per Share (Basic): ₹2.03 (Q2 FY27), ₹2.73 (Q1 FY27), ₹4.76* (H1 FY27)
  • Earnings Per Share (Diluted): ₹2.03 (Q2 FY27), ₹2.73 (Q1 FY27), ₹4.76* (H1 FY27)
  • Paid-up Equity Share Capital: ₹39.35 crores (face value ₹1 each)
  • Other Equity: ₹4,016.36 crores (as of September 30, 2026)
  • *not annualized

Consolidated Financial Performance (₹ Crores)

Quarterly Comparison (Q2 FY27 vs Q1 FY27 vs Q2 FY26):

  • Revenue from Operations: ₹2,474.45 (Q2 FY27) vs ₹2,473.37 (Q1 FY27) vs ₹2,163.57 (Q2 FY26)
  • Total Income: ₹2,490.18 (Q2 FY27) vs ₹2,477.77 (Q1 FY27) vs ₹2,175.62 (Q2 FY26)
  • Profit Before Tax: ₹100.53 (Q2 FY27) vs ₹204.25 (Q1 FY27) vs ₹78.28 (Q2 FY26)
  • Profit After Tax: ₹74.14 (Q2 FY27) vs ₹154.93 (Q1 FY27) vs ₹61.70 (Q2 FY26)
  • Total Comprehensive Income: ₹28.10 (Q2 FY27) vs ₹202.35 (Q1 FY27) vs ₹46.95 (Q2 FY26)

Half-Yearly Comparison (H1 FY27 vs H1 FY26):

  • Revenue from Operations: ₹4,947.82 (H1 FY27) vs ₹4,277.62 (H1 FY26)
  • Total Income: ₹4,967.95 (H1 FY27) vs ₹4,295.47 (H1 FY26)
  • Profit Before Tax: ₹304.78 (H1 FY27) vs ₹198.43 (H1 FY26)
  • Profit After Tax: ₹229.07 (H1 FY27) vs ₹155.80 (H1 FY26)
  • Total Comprehensive Income: ₹230.45 (H1 FY27) vs ₹175.24 (H1 FY26)

Key Consolidated Metrics:

  • Earnings Per Share (Basic): ₹1.88 (Q2 FY27), ₹3.94 (Q1 FY27), ₹5.82* (H1 FY27)
  • Earnings Per Share (Diluted): ₹1.88 (Q2 FY27), ₹3.94 (Q1 FY27), ₹5.82* (H1 FY27)
  • Paid-up Equity Share Capital: ₹39.35 crores
  • Other Equity: ₹4,020.03 crores (as of September 30, 2026)
  • *not annualized

Segment Information (Consolidated)

Revenue Breakdown (Q2 FY27):

  • Carbon Black: ₹1,978.53 crores
  • Power: ₹93.56 crores
  • Chemical: ₹433.25 crores
  • Battery Chemical: Not material
  • Total Segment Revenue: ₹2,505.34 crores
  • Less: Inter Segment Revenue: ₹30.89 crores
  • Net Revenue: ₹2,474.45 crores

Segment Profit Before Interest and Tax (Q2 FY27):

  • Carbon Black: ₹190.67 crores
  • Power: ₹58.95 crores
  • Chemical: ₹5.24 crores
  • Battery Chemical: (₹0.17) crores

Key Operational Highlights

Dividend Declaration:

  • Interim dividend of ₹177.06 crores (₹4.50 per equity share of ₹1 each) declared on July 29, 2026
  • Dividend paid during the quarter ended September 30, 2026

Warrant Conversion:

  • 1,60,00,000 convertible warrants converted to equity shares on November 3, 2025
  • Total consideration received: ₹448 crores (₹112 crores initial + ₹336 crores balance)
  • Proceeds fully utilized for intended purposes

US Tariff Refund:

  • Received refund from US Customs and Border Protection (CBP) regarding reciprocal duties
  • Recognized ₹27.97 crores as income under Other Operating Revenue (Standalone)
  • Recognized ₹33.06 crores as income under Other Operating Revenue (Consolidated)

Debt and Security Cover:

  • Outstanding listed debentures: ₹490 crores as of September 30, 2026
  • Secured by pledge over shares of Aquapharm Chemical Limited
  • Security cover ratio: 4.37 times (requirement: 1.5 times)
  • Debenture holders: DBS Bank Limited (₹430.50 crores), Reliance General Insurance (₹35 crores), others

Commercial Paper:

  • Issued commercial paper of ₹200 crores on April 23, 2026, redeemed on July 22, 2026
  • Listed on BSE Limited pursuant to SEBI Master Circular

Subsidiary Information

The consolidated results include 17 subsidiaries, including:

  • PCBL (TN) Limited
  • Phillips Carbon Black Cyprus Holdings Limited
  • Aquapharm Chemical Limited (formerly Advaya Chemical Industries Limited)
  • Nanovace Technologies Limited
  • PCBL Chemical USA Inc
  • Phillips Carbon Black Vietnam Joint Stock Company
  • Various other chemical and specialty chemical subsidiaries

Asset and Liability Position (Standalone as of September 30, 2026)

Assets:

  • Total Assets: ₹9,183.63 crores
  • Non-current Assets: ₹6,623.73 crores
  • Current Assets: ₹2,559.90 crores
  • Investments: ₹4,020.73 crores
  • Inventories: ₹1,331.06 crores
  • Trade Receivables: ₹980.96 crores
  • Cash and Cash Equivalents: ₹68.30 crores

Liabilities and Equity:

  • Total Equity: ₹4,055.71 crores
  • Non-current Liabilities: ₹1,958.76 crores
  • Current Liabilities: ₹3,169.16 crores
  • Borrowings: ₹2,703.00 crores (₹1,599.42 non-current + ₹1,103.56 current)

Important Notes

  • Financial results prepared in accordance with Ind AS 34
  • EPS calculations consider impact of share warrants until conversion date (November 3, 2025)
  • Company turnover sensitive to crude oil price fluctuations
  • Debtors and Inventory Turnover Days computed quarterly due to price volatility
  • Segment information provided in consolidated results only