Carbon Black Stocks in India
Carbon Black: PCBL Chemical Ltd owns the largest revenue base; Himadri Speciality Chemical Ltd has the fastest current growth.
Nifty Carbon Black Index — Constituents & Performance
All 2 listed Indian Carbon Black companies are named here, largest first — the same constituent set people search for as the Nifty Carbon Black index. Every figure on this page is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.
- Himadri Speciality Chemical Ltd₹39.4K Cr
- PCBL Chemical Ltd₹12.2K Cr
Is Carbon Black outperforming NIFTY 500?
Carbon Black has outperformed NIFTY 500 by 17% over the last 52 weeks. Over 13 weeks the gap is a lead of 17.5%. 1 of 2 covered companies currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Himadri Speciality Chemical Ltd is the strongest against the sector itself at +20.7%. Readings are as of 2026-08-09.
Sector metric: 20.3 as of 2026-08-09 · CONSOLIDATION · falling.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
Carbon Black has outperformed NIFTY 500 by 17% over 52 weeks and 17.5% over 13 weeks. 1 of 2 covered companies beat NIFTY on Mansfield relative strength, while 1 of 2 beat the sector itself. PCBL Chemical Ltd leads with revenue of ₹8,549 crore, based on 2 of 2 comparable companies through Jun 2026.
Best Carbon Black Stocks in India (Aug 2026), Ranked by Data
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
How this score is built, and what the marks mean
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Top 10 Carbon Black Stocks in India
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Himadri Speciality Chemical LtdHSCL | 64.3/100Mixed-positive evidence97% evidence | LEADER | 18.6/35 Revenue 9.8% · PAT 31.6% · OPM change -2 pp 100% evidence | 19.6/25 ROCE 22.1% · OPM 20% 100% evidence | 9.7/20 P/E 49.3× · PEG 1.36 85% evidence | 16.4/20 RS sector 20.7% · RS bench 43.9% · 1Y 73.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 18.6 + 19.6 + 9.7 + 16.4 = 64.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2PCBL Chemical LtdPCBL | 27.6/100Adverse evidence90% evidence | BREAKING OUT | 7.9/35 Revenue 2.1% · PAT -36.8% · OPM change 1 pp 100% evidence | 7.9/25 ROCE 7.8% · OPM 16% 100% evidence | 7.9/20 P/E 46.1× · PEG 2.17 50% evidence | 3.9/20 RS sector -19.9% · RS bench -3.3% · 1Y -17.4%9 of 12 weeks ahead 100% evidence |
| Exact sum: 7.9 + 7.9 + 7.9 + 3.9 = 27.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Market action
Himadri Speciality Chemical Ltd has the strongest one-year price move in Carbon Black at +73.8%. It also leads on Mansfield relative strength against NIFTY at +43.9%. 1 of 2 covered companies is above zero on that measure. Every line covers 313 weekly closes through 2026-08-14.
Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.
How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.
The same measure taken against Carbon Black itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.
Revenue Scale & Growth Durability
PCBL Chemical Ltd has the highest Revenue among the 2 Carbon Black companies compared here, at ₹8,549 crore. Himadri Speciality Chemical Ltd is next at ₹4,975 crore. Himadri Speciality Chemical Ltd has the highest Revenue growth at 9.8%, so level and change sit with different companies. 2 of 2 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: PCBL Chemical Ltd is the scale leader at ₹8,549 crore, 71.8% ahead of Himadri Speciality Chemical Ltd. Himadri Speciality Chemical Ltd's growth is 9.8% from a ₹4,975 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
Investor read: PCBL Chemical Ltd is the scale benchmark; Himadri Speciality Chemical Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: PCBL Chemical Ltd's growth falls below Himadri Speciality Chemical Ltd's for two consecutive comparable reports while operating margin also compresses.
On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.
All-company data · latest reported quarter
In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| PCBL Chemical Ltd PCBL | ₹2.5K Cr | 17% | Jun 2026 |
| Himadri Speciality Chemical Ltd HSCL | ₹1.4K Cr | 28% | Jun 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
PCBL Chemical Ltd · PCBL
Revenue growth · reported quarter history
Himadri Speciality Chemical Ltd · HSCL
PCBL Chemical Ltd · PCBL
Operating Economics & Margin Trend
Himadri Speciality Chemical Ltd has the highest OPM among the 2 Carbon Black companies compared here, at 20%. PCBL Chemical Ltd is next at 16%. PCBL Chemical Ltd has the highest Margin change at +1 percentage points, so level and change sit with different companies. 2 of 2 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Himadri Speciality Chemical Ltd leads opm at 20%; PCBL Chemical Ltd leads margin change at +1 percentage points.
Investor read: Himadri Speciality Chemical Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
All-company data · latest reported quarter
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Himadri Speciality Chemical Ltd HSCL | 20% | −2.0 pp | Jun 2026 |
| PCBL Chemical Ltd PCBL | 16% | +1.0 pp | Jun 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Himadri Speciality Chemical Ltd · HSCL
PCBL Chemical Ltd · PCBL
Margin change · reported quarter history
Himadri Speciality Chemical Ltd · HSCL
PCBL Chemical Ltd · PCBL
Profit Scale & Acceleration
Himadri Speciality Chemical Ltd has the highest Net profit among the 2 Carbon Black companies compared here, at ₹804 crore. PCBL Chemical Ltd is next at ₹259 crore. The same company also holds the highest Profit growth, at 31.6%. 2 of 2 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Himadri Speciality Chemical Ltd leads with ₹804 crore of TTM profit, 210.4% above PCBL Chemical Ltd. Himadri Speciality Chemical Ltd shows 31.6% growth from a ₹804 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
Investor read: Himadri Speciality Chemical Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
All-company data · latest reported quarter
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| Himadri Speciality Chemical Ltd HSCL | ₹228 Cr | 27% | Jun 2026 |
| PCBL Chemical Ltd PCBL | ₹155 Cr | 65% | Jun 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Himadri Speciality Chemical Ltd · HSCL
PCBL Chemical Ltd · PCBL
Profit growth · reported quarter history
Himadri Speciality Chemical Ltd · HSCL
PCBL Chemical Ltd · PCBL
Return On Capital Employed
Himadri Speciality Chemical Ltd has the highest ROCE among the 2 Carbon Black companies compared here, at 22.1%. PCBL Chemical Ltd is next at 7.8%. The same company also holds the highest ROCE change, at -0.3 percentage points. 2 of 2 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Himadri Speciality Chemical Ltd leads ROCE at 22.1%, 14.4 percentage points above PCBL Chemical Ltd. Himadri Speciality Chemical Ltd has the strongest latest improvement at -0.3 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
Investor read: Himadri Speciality Chemical Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
All-company data · latest reported quarter
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Himadri Speciality Chemical Ltd HSCL | 25% | −0.3 pp | Jun 2026 |
| PCBL Chemical Ltd PCBL | 8.7% | −3.3 pp | Jun 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Himadri Speciality Chemical Ltd · HSCL
PCBL Chemical Ltd · PCBL
ROCE change · reported quarter history
Himadri Speciality Chemical Ltd · HSCL
PCBL Chemical Ltd · PCBL
Valuation Against Growth & Quality
Himadri Speciality Chemical Ltd has the lowest PEG among the 2 Carbon Black companies compared here, at 1.36×. PCBL Chemical Ltd is next at 2.17×. PCBL Chemical Ltd has the lowest P/E at 46.1×, so level and change sit with different companies. 2 of 2 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Himadri Speciality Chemical Ltd has the lowest comparable PEG at 1.36×, 37.3% below PCBL Chemical Ltd. Only 2 of 2 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
All-company data · latest reported quarter
| Company | PEG | P/E | Reported |
|---|---|---|---|
| PCBL Chemical Ltd PCBL | 2.2 | 58.1 | Jun 2026 |
| Himadri Speciality Chemical Ltd HSCL | 1.4 | 45.7 | Jun 2026 |
Full 20-quarter history · every available company
PEG · reported quarter history
Himadri Speciality Chemical Ltd · HSCL
PCBL Chemical Ltd · PCBL
P/E · reported quarter history
Himadri Speciality Chemical Ltd · HSCL
PCBL Chemical Ltd · PCBL
What can make this comparison misleading?
This Carbon Black comparison names 4 specific ways its own evidence can mislead, all listed below. All 2 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
How was this comparison built?
This comparison is built from the reported filings of 2 Carbon Black companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-08-14. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
How a second data feed is admitted, and what happens when it disagrees
A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.
Carbon Black company comparison FAQs
These 23 answers restate the Carbon Black comparison above in question form. Every one is computed from the same 2 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-08-14. Nothing here is estimated, and none of it is a recommendation.
Is the Carbon Black sector outperforming NIFTY 500?
Carbon Black has outperformed NIFTY 500 by 17% over 52 weeks and 17.5% over 13 weeks. 1 of 2 covered companies beat NIFTY on Mansfield relative strength, while 1 of 2 beat the sector itself.
Which Carbon Black company is largest by revenue?
PCBL Chemical Ltd leads with revenue of ₹8,549 crore, based on 2 of 2 comparable companies through Jun 2026.
Which Carbon Black company is growing fastest?
Himadri Speciality Chemical Ltd has the fastest current revenue growth at 9.8%, across 2 of 2 comparable companies.
Which Carbon Black company has the strongest 4-Factor Sector Score?
Himadri Speciality Chemical Ltd ranks first at 64.3/100 with 97% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Carbon Black company has the lowest comparable PEG?
Himadri Speciality Chemical Ltd has the lowest comparable PEG at 1.36, among 2 of 2 companies whose earnings and growth are steady enough for the ratio to mean anything.
How much history does this Carbon Black comparison include?
The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Is there a Nifty Carbon Black index?
NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Carbon Black, this page builds its own equal-weight basket of 2 listed Carbon Black companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.
Which are the best Carbon Black stocks in India?
Ranked by this page's four-factor score, Himadri Speciality Chemical Ltd places first among 2 listed Carbon Black companies, followed by PCBL Chemical Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.
How many Carbon Black stocks are listed in India?
This comparison covers 2 listed Carbon Black companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.
Which Carbon Black company is the biggest?
PCBL Chemical Ltd is the largest, with trailing-twelve-month revenue of ₹8,549 crore, ahead of Himadri Speciality Chemical Ltd at ₹4,975 crore. That covers 2 of 2 companies with comparable reporting through Jun 2026.
Which Carbon Black company has the best profit margins?
Himadri Speciality Chemical Ltd has the highest operating margin at 20%, from 2 of 2 comparable companies. PCBL Chemical Ltd shows the biggest recent improvement, at +1 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Carbon Black company makes the most profit?
Himadri Speciality Chemical Ltd earns the most, at ₹804 crore of trailing-twelve-month net profit, from 2 of 2 comparable companies. Himadri Speciality Chemical Ltd has the fastest profit growth at 31.6%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Carbon Black company earns the highest return on capital?
Himadri Speciality Chemical Ltd leads on return on capital employed at 22.1%, across 2 of 2 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Carbon Black stock is the cheapest?
On PEG — where a LOWER number is cheaper — Himadri Speciality Chemical Ltd screens cheapest at 1.36×. All 2 companies qualify for the ratio comparison. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Is the Carbon Black sector beating the market?
Carbon Black has outperformed NIFTY 500 by 17% over the last 52 weeks and 17.5% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 2 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.
Which Carbon Black stock has the strongest price momentum?
Himadri Speciality Chemical Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Carbon Black company scores highest for research priority?
Himadri Speciality Chemical Ltd scores 64.3 out of 100 with 97% evidence confidence, from 18.6 points on growth and earnings, 19.6 on capital efficiency, 9.7 on valuation and 16.4 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Carbon Black companies does this comparison cover, and over what period?
It compares 2 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Carbon Black sector?
The 2 Carbon Black companies on this page carry ₹51,599 crore of combined market value. Himadri Speciality Chemical Ltd is the largest at ₹39,410 crore, about 76% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-20.
How is the Carbon Black sector performing?
1 of the 2 covered Carbon Black companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 17% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-20.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.