External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>PCBL Ltd (name changed from Phillips Carbon Black) is the leading manufacturer of carbon black, which is used as a reinforcing material in tyres.</li><li>PCBL also derives ~8% of sales volume from speciality carbon black, which fetches high margins and finds application in paints, plastics among others</li><li>Target Price and Valuation: Introducing FY24E, we roll over our valuations and now value PCBL at unchanged target price Rs 320 i.e. 12x P/E on FY23E-24E avg. EPS</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

PCBL Ltd (name changed from Phillips Carbon Black) is the leading manufacturer of carbon black, which is used as a reinforcing material in tyres.PCBL also derives ~8% of sales volume from speciality carbon black, which fetches high margins and finds application in paints, plastics among othersTarget Price and Valuation: Introducing FY24E, we roll over our valuations and now value PCBL at unchanged target price Rs 320 i.e. 12x P/E on FY23E-24E avg. EPSContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Phillips Carbon Black: Growth Capex Progressing Well, PCBL in Value Zone

PCBL Limited

Phillips Carbon Black: Growth Capex Progressing Well, PCBL in Value Zone