PCBL : Investor Update Q3 FY’23

PCBL Limited

Investor Update Q3 FY23

Key Highlights

• PCBL reported best ever financial performance on YTD basis, despite strong global economic headwinds and volatility.
• During 9MFY23, Revenue increased by 39% to Rs. 4,522 crs, EBIDTA increased by 7.6% to Rs. 575 crs and PAT increased to Rs. 342 crs.
• The company reported a stable financial performance in Q3 FY23. Revenue increased by 26% YoY to Rs. 1,471 crs while EBIDTA stood flat at Rs. 176 crs. PAT stood at Rs. 100 crs during the quarter. The EBIDTA/MT increased by 14.6% YoY to Rs. 17,357/- during the quarter
• The Q3 FY23 sales volume stood at 1,01,492 MT. The sales volume for tyre segment, performance chemical and speciality black stood at 71,685 MT, 20,808 MT and 8,998 MT
• The sales mix between Domestic and International stood at 72,394 MT and 29,098 MT for Q3FY23.
• Power Generation stood at 144 MU during Q3FY23 with external sales volume of 87 MU.
• With rising demand for power in the country and consequent increase in power tariffs, PCBL's average realization from power sale improved to 3.73/kWh
• The company continues to witness traction in demand for specialty black on back of diverse geographical mix and new customer additions.
• The Board of Directors have declared an interim dividend @550% (Rs 5.5 per share)

| RP-SG Group Presentation

1

Financial Performance

Revenue (INR Cr)

5000		4500
4000
			3228
3000
2000	1463
1000
0
	Q3FY23	YTD Dec'22	YTD Dec'21

EBITDA (INR Cr)

625		575	534
525
425
325
225	176
125
25
	Q3FY23	YTD Dec'22	YTD Dec'21

• PCBL reported a robust financial performance in 9M FY23 with strong growth in Revenue and EBIDTA.
• EBIDTA/MT increased by 13.3% YoY to Rs. 17,705/- during 9M FY23. This was achieved due to well spread customer & product portfolio

| RP-SG Group Presentation

1

Operational Performance

				Sales Volume (MT)	3,41,735					Power Generation & Sales
4,00,000	1,01,492	3,24,727					And Realization
3,00,000										3.73	3.89			4
										425								3.5
2,00,000															2.87
							325
1,00,000								225				444			3
										395
										125				269	231	2.5
0								144
							25	87					2
Q3FY23	YTD Dec'22	YTD Dec'21
				Q3FY23	YTD Dec'22	YTD Dec'21
		Rubber Black		Performance Black		Specialty Black Total
							Units Generated (MU)		Units Sold (MU)		Realization/unit

• Due to steep correction in crude prices, the formula pricing would correct in next quarter as compared to Q3 FY23. This has resulted in significant level of inventory liquidation at customers' end leading to lower offtake during Q3.
• 9M FY23 Power generation increased by 12.4% to 444 MU while power export volumes increased from 231 MU in 9M FY22 to 269 MU in 9M FY23.
• PCBL commissioned 7 MW green power plant in Kochi during the quarter. With this the total capacity of green power stands at 98 MW

| RP-SG Group Presentation

1

Financial Statement

(In Cr.)
	Q3FY23	Q2FY23	Q3FY22	Change (YoY)	9MFY23	9MFY22
Revenue	1,463	1,627	1,156	27%	4,500	3,227
Other Income	8	3	9		22	16
Total Income	1,471	1,630	1,165		4,522	3,243
Cost of Materials
(including change in inventory)	1,139	1,259	840		3,423	2,229
Employee Benefit Expense	48	49	40		144	117
Finance Cost	15	11	7		35	22
Foreign Exchange Fluctuation (Net)	-4	-5	-3		-10	-15
Depreciation & Amortisation	33	33	31		103	90
Other Expenses	112	137	111		390	378
Total Expense	1,343	1,484	1,026		4,085	2,821
EBITDA	176	190	177	-1%	575	534
PBT	128	146	139		437	422
PAT	100	116	111	-10%	342	337
EPS	2.65	3.08	2.95		9.48	9.51

| RP-SG Group Presentation