Rs. 5.50/Share Dividend By Chemical Stock: 16th January Record Date; BUY For Steady Returns?

With a present production capacity of 7,90,000 MT annually and the ability to generate 122 MW of green electricity, PCBL Chemical Limited, a member of the RP-Sanjiv Goenka Group, has been a trailblazer in the carbon black business for more than 60 years as India's largest producer of carbon black, with a significant global clientele that includes clients in more than 50 nations. With a market value of Rs 14.75KCr, PCBL Chemical's shares closed Friday 1.57% down at Rs 391.25 a share.

PCBL Chemical Dividend

The Board of Directors considered and approved "Declaration of an Interim Dividend @ 550%, i.e. Rs. 5.50/- per equity share of Re. 1/- each, for the financial year ending 31st March, 2025 and fixation of Thursday, 16th January, 2025 as the Record Date for the purpose of payment of the afore-said Interim Dividend," said PCBL Chemical in a stock exchange filing.

PCBL Chemical Financials

For the third quarter ending December 31, 2024, PCBL Chemical Ltd. reported a 39.1% year-on-year (YoY) drop in net profit at Rs 93.1 crore on Friday, January 10. According to a regulatory filing, PCBL reported a net profit of Rs 148 crore for the same quarter of the previous fiscal year. Net revenue for the firm climbed 21.3% to Rs 2,010 crore in Q3FY25 from Rs 1,656.8 crore in the same period last year. In the third quarter of this fiscal year, EBITDA increased 13.7% to Rs 317.4 crore from Rs 279.1 crore in the same period last year (Q3 FY24). In the quarter under review, the EBITDA margin was 15.8%, compared to 16.9% during the same time in the previous fiscal year.

PCBL Chemical Share Price Target

"PCBL chemical has undergone big expansion in its capacity with a greenfield project at Chennai & a brownfield expansion at Mundra plant and the coming quarters will reflect the contribution of this expansion with growth in revenue. Technically the stock has corrected from the highs of 577 to 383. Technically the stock tested the double bottom made at 380 on weekly charts and the 50 week moving average is at 375. Good region to add for long term investors," said Vinod Jhaveri, Independent Analyst, Pure Technicals.

"PCBL is bearish yet slightly oversold on the Daily charts with next support at 371. Investors should buy only if Daily close is above resistance of 401 could lead to a target of 452 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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