PCBL Ltd Q2FY23 PAT lower by -4.6% at Rs116 crore as raw material costs spike by 75% yoy

26 Oct 2022 , 08:41 PM

PCBL Ltd reported 52.48% growth in total revenues for the September 2022 quarter on consolidated basis at Rs1,628cr.

Revenue increased by 15.53% in sequential terms. The core business of PCBL (formerly Phillips Carbon Black Ltd), which his carbon black saw revenues increase by 52.3% at Rs1,591 crore.

However, due to the sharp spike in the raw material costs which are crude dependent, the operating profit growth at Rs179 crore was just higher by 6.5% yoy.

The smaller power segment saw revenues increase by 30% at Rs56 crore while the operating profits for the power vertical was up nearly 50% on a yoy basis.

Consolidated Profit after tax (PAT) for September 2022 quarter was down -4.61% at Rs116.39 crore and it fell on sequential basis by -7.78%.

The 75% spike in the cost of raw materials due to the spike in crude prices, pulled down the operating profits of the core carbon black segment.

Net cash from operations in H1FY23 dipped into negative due to unfavourable working capital conditions amid supply chain constraints. Net profit margins at 7.15% in Q2FY23 is lower compared to 11.43% in Q1FY22 and against 8.96% in Q1FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	PCBL Ltd
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 1,627.85	₹ 1,068	52.48%	₹ 1,409.07	15.53%
Net Profit (Rs cr)	₹ 116.39	₹ 122.02	-4.61%	₹ 126.21	-7.78%
Diluted EPS (Rs)	₹ 3.08	₹ 3.54		₹ 3.34
Net Margins	7.15%	11.43%		8.96%