Main Summary

This is a regulatory filing containing the Q2 FY27 Investor Update for PCBL Chemical Limited. The document was submitted to the National Stock Exchange of India Ltd (NSE) and BSE Limited on 2nd November 2026.

The update provides a comprehensive overview of the company's financial and operational performance for the second quarter and first half of fiscal year 2027. It includes detailed financial statements, segment-wise performance data, strategic initiatives, and a mid-term business outlook.

Financial Performance Highlights

Consolidated Q2 FY27 Performance:

  • Revenue from Operations: ₹2,474 Crore
  • Other Income: ₹16 Crore
  • Total Revenue: ₹2,490 Crore
  • EBITDA: ₹310 Crore (EBITDA Margin: 12.5%)
  • Profit Before Tax (PBT): ₹101 Crore
  • Profit After Tax (PAT): ₹74 Crore
  • Diluted EPS: ₹1.9 per share

Consolidated H1 FY27 Performance (vs H1 FY26):

  • Revenue from Operations: ₹4,948 Crore (↑16% YoY)
  • EBITDA: ₹710 Crore (↑18% YoY)
  • PAT: ₹229 Crore (↑47% YoY)

Specialty & Solutions Segment (Aquapharm Chemical) H1 FY27:

  • Revenue: ₹827 Crore
  • EBITDA: ₹89 Crore

Operational and Segment Highlights

Segment-wise Sales Volume (Quarterly - MT):

  • Q2 FY27: Specialty (50,331), Performance Chemical (17,505), Tyres (77,914)
  • Q2 FY26: Specialty (39,698), Performance Chemical (16,568), Tyres (93,892)

Segment-wise Sales Volume (H1 - MT):

  • H1 FY27: Specialty (97,219), Performance Chemical (33,570), Tyres (1,69,293)
  • H1 FY26: Specialty (82,085), Performance Chemical (36,316), Tyres (1,34,180)

Operating Context:

  • Total Carbon Black sales volume: 92,843 MT (Domestic: 41,337 MT | International: 51,506 MT)
  • Higher power realizations: ₹5.34/unit in Q2 FY27 vs ₹3.76/unit in Q2 FY26
  • Impacted by geopolitical tensions causing trade route disruptions and significantly higher freight costs
  • Company maintained pricing discipline and cost optimization focus

Strategic Initiatives

Supply Chain Strengthening:

  • Established Antwerp warehouse
  • Formed US entity to support local customer engagement

Advance Battery Materials Development:

  • Developing proprietary nano-silicon and conductive carbon materials
  • Creating integrated Si-C architecture solutions for better battery performance
  • Progressing through product development, commercialization pathway, and strategic shift toward technology-led growth

Co-Generation Power Capacity:

  • Total installed capacity: 122 MW across 5 plants (Mundra-32MW, Durgapur-30MW, Chennai-24MW, Palej-19MW, Kochi-17MW)
  • Additional 12 MW capacity under construction in Tamil Nadu (Completion expected in FY27)

Mid-Term Outlook

Demand:

  • Global Carbon Black demand projected to grow ~3% CAGR
  • Potential resolution of geopolitical conflicts
  • India positioned to benefit from favorable trade deals
  • Growing shift towards premiumisation and electric vehicle adoption

Margin:

  • Expanding Specialty chemical portfolio toward high margin products
  • Cost & efficiency optimization programs in place
  • Backward integration into Coal Tar, Yellow Phosphorus
  • Growth engines: Advance Battery Materials, Green Chelates, Polymers, Biocides, Synthetic thickener
  • Volume-led growth with continued focus on margin improvement
  • Expanding global supply chain and sales footprint
  • Diversifying sources of supply and evaluating alternate vendors in Specialty & Solutions segment

Financial Statements Detail

Consolidated Income Statement (₹ Cr):

| Period | Revenue Ops | EBITDA | EBITDA % | PAT |

| Q2 FY27 | 2,474 | 310 | 12.5% | 74 |

| Q1 FY27 | 2,474 | 400 | 16% | 155 |

| Q2 FY26 | 2,164 | 278 | 12.8% | 62 |

| H1 FY27 | 4,948 | 710 | 14% | 229 |

| H1 FY26 | 4,278 | 603 | 14% | 156 |

Balance Sheet Position (as of 30-Sep-26 vs 31-Mar-2026 in ₹ Cr):

  • Total Assets: 12,421 (vs 11,295)
  • Borrowings: 4,927 (vs 4,825)
  • Cash & Cash Equivalents: 231 (vs 288)
  • Inventories: 1,981 (vs 1,024)
  • Trade Receivables: 1,589 (vs 1,395)

Cash Flow Statement (H1 FY27 in ₹ Cr):

  • Net cash from Operating Activities: 363
  • Net cash used in Investing Activities: (202)
  • Net cash used in Financing Activities: (232)
  • Net decrease in Cash: (71)

Additional Notes

  • The document is labeled as an "Investor Update" and represents a quarterly financial disclosure rather than an invitation to an Analyst/Investor Meet.
  • The update includes comprehensive financial data for Q2 FY27 and H1 FY27 with comparative figures.
  • The document contains detailed segment information, strategic initiatives, and forward-looking statements about the company's mid-term outlook.
  • A cautionary statement is included noting that forward-looking statements are subject to various risks and uncertainties including demand-supply conditions, raw material prices, government regulations, and economic developments.
  • The update was signed by Ravi Varma, Company Secretary and Compliance Officer, and submitted to the stock exchanges.