Phillips Carbon Black Limited (NSE: PCBL) witnessed a notable upswing in its share price, reaching an annual high of Rs 211 ($1 = Rs 83.15) on Thursday, surging by 7 percent. This impressive surge followed the company’s successful acquisition of two patents related to specialty-grade and surface-modified carbon black. As the trading day progressed, the stock maintained its momentum, settling at Rs 210.50 on the National Stock Exchange (NSE).
The first of these patents, identified as IN444448, outlines a transformative process for the modification of specialty-grade carbon black, primarily intended for utilization in inks and coating applications. The second patent introduces an innovative carbon black composition with a focus on improving fuel efficiency and extending the longevity of tires.
In what has been an outstanding year for PCBL, the company’s shares have demonstrated remarkable growth, tallying up to an impressive 60 percent increase, significantly outperforming the Nifty 50 index’s modest 8 percent ascent. Notably, the last six months alone have seen an extraordinary 80 percent leap in PCBL’s stock value.
When it comes to ownership, the company’s promoters maintain a significant stake of 51.41 percent during Q2. Meanwhile, Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) have increased their holdings, collectively owning 6.56 percent. Mutual Funds have also taken notice, raising their stakes to 6.05 percent.
Financially, PCBL boasts a robust balance sheet, as evidenced by a low debt-to-equity ratio of 0.33, underlining the company’s sound financial management practices.
