Buy PCBL, target price Rs 170: ICICI Securities

ICICI Securities has buy call on PCBL with a target price of Rs 170. The current market price of PCBL Ltd. is Rs 128.65.
Time period given by analyst is one year when PCBL Ltd. price can reach defined target.

PCBL Ltd., incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 4899.46 Crore) operating in Tyres sector.


PCBL Ltd. key Products/Revenue Segments include Carbon Black, Power, Export Incentives and Scrap for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 1631.63 Crore, up 14.84 % from last quarter Total Income of Rs 1420.77 Crore and up 52.30 % from last year same quarter Total Income of Rs 1071.32 Crore. Company reported net profit after tax of Rs 116.47 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 51.41 per cent stake in the company as of 30-Sep-2022, while FIIs owned 10.18 per cent, DIIs 5.22 per cent.