Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/phillips-carbon-black-ltd" target="_blank" data-smartkarma-citation="entities:5777:1" rel="noopener">Phillips Carbon Black (PHCB IN)</a> PCBL is the largest producer of Carbon Black in the country and seventh largest player in the world. </li>
<li>Transitioning to specialty carbon black, acquiring companies non-carbon linked companies and entering into JV for sunrise sectors EV battery chemical companies. </li>
<li>Guiding for 2400Cr Capex for 1Mn capacity of Carbon black capacity, 600Cr capex for Aquafarm chemicals and 500Cr for battery chemicals in the upcoming years for growth. </li>
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Phillips Carbon Black (PHCB IN) PCBL is the largest producer of Carbon Black in the country and seventh largest player in the world. 
Transitioning to specialty carbon black, acquiring companies non-carbon linked companies and entering into JV for sunrise sectors EV battery chemical companies. 
Guiding for 2400Cr Capex for 1Mn capacity of Carbon black capacity, 600Cr capex for Aquafarm chemicals and 500Cr for battery chemicals in the upcoming years for growth. 


2025 High Conviction Idea: PCBL Limited: Transitioning to Specialty Chemical

Equity Analyst, LightStream Research

Chacko Jacob

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

<p><a href="https://www.smartkarma.com/entities/5777" target="_blank" data-smartkarma-citation="entities:5777:1">Phillips Carbon Black Ltd (PHCB IN)</a> is India's largest manufacturer of carbon black, a key raw material in tyre manufacturing. After enduring two tumultuous years in 2014 and 2015 that saw the company post losses, it made a recovery in FY2017 as earnings bounced back to pre-2014 levels. The current fiscal period is turning out to be another successful year for the company as it has already surpassed its FY2017 earnings in 1HFY2018. The factors that are likely to propel it forward in the coming periods include: </p><ul class=""><li>Brownfield expansion of its production capacity to meet the growing needs of domestic and global tyre manufacturers.</li><li>Increasing the share of high-margin non-rubber carbon black in its product mix. </li></ul><p>The expectations on the company are reflected in its stock price that has surged 5.4x in the last one year. While the company has performed well during this period, a recent 50% surge in stock price over just 6 days (Jan 2nd - Jan 8th) has forced us to reconsider our original opinion of the company being undervalued. Though the stock price has declined 11% in the last two days, it still remains 13% above our TP of INR 1160. </p>

Phillips Carbon Black Ltd (PHCB IN) is India's largest manufacturer of carbon black, a key raw material in tyre manufacturing. After enduring two tumultuous years in 2014 and 2015 that saw the company post losses, it made a recovery in FY2017 as earnings bounced back to pre-2014 levels. The current fiscal period is turning out to be another successful year for the company as it has already surpassed its FY2017 earnings in 1HFY2018. The factors that are likely to propel it forward in the coming periods include: Brownfield expansion of its production capacity to meet the growing needs of domestic and global tyre manufacturers.Increasing the share of high-margin non-rubber carbon black in its product mix. The expectations on the company are reflected in its stock price that has surged 5.4x in the last one year. While the company has performed well during this period, a recent 50% surge in stock price over just 6 days (Jan 2nd - Jan 8th) has forced us to reconsider our original opinion of the company being undervalued. Though the stock price has declined 11% in the last two days, it still remains 13% above our TP of INR 1160. 

Phillips Carbon Black: Recent Stock Surge Shadows Potential Earnings Growth Aided by Product Mix

India

PCBL Limited of India manufactures carbon black and its by-products. The Company offers carbon black which is an essential ingredient used in the manufacturing of rubber, synthetic rubber, motor vehicle tires, and products in the printing and paint industries. PCBL serves customers worldwide.

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PCBL Limited (PCBL IN)

2025 High Conviction Idea: PCBL Limited: Transitioning to Specialty Chemical

Phillips Carbon Black is focusing on specialty carbon black, acquisitions, and joint ventures to expand into new sectors like EV battery...

Nimish Maheshwari

Phillips Carbon Black: Recent Stock Surge Shadows Potential Earnings Growth Aided by Product Mix

Phillips Carbon Black Ltd (PHCB IN) is India's largest manufacturer of carbon black, a key raw material in tyre manufacturing. After enduring two...

Chacko Jacob

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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2025 High Conviction Idea: PCBL Limited: Transitioning to Specialty Chemical

​Phillips Carbon Black is focusing on specialty carbon black, acquisitions, and joint ventures to expand into new sectors like EV battery...

Nimish Maheshwari

Phillips Carbon Black: Recent Stock Surge Shadows Potential Earnings Growth Aided by Product Mix

Phillips Carbon Black Ltd (PHCB IN) is India's largest manufacturer of carbon black, a key raw material in tyre manufacturing. After enduring two...

Chacko Jacob

Phillips Carbon Black is focusing on specialty carbon black, acquisitions, and joint ventures to expand into new sectors like EV battery...