# Carbon Black — company-by-company sector analysis > Carbon Black: PCBL Chemical Ltd owns the largest revenue base; Himadri Speciality Chemical Ltd has the fastest current growth. Sector Alpha — machine-written from the numbers. Data as of 2026-08-20. Not investment advice. ## 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. ## Sector relative strength 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. 13-week sector return versus NIFTY 500: 18% 52-week sector return versus NIFTY 500: 17% Stocks leading NIFTY: 1/2 Stocks leading sector: 1/2 Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change. Companies: 2 Combined market value: ₹51.6K Cr ## 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. 1. Himadri Speciality Chemical Ltd (HSCL): 64/100 — Mixed-positive evidence; evidence 97% - Growth & earnings 18.6/35 | Capital efficiency 19.6/25 | Valuation 9.7/20 | Relative strength 16.4/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - 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. 2. PCBL Chemical Ltd (PCBL): 28/100 — Adverse evidence; evidence 90% - Growth & earnings 7.9/35 | Capital efficiency 7.9/25 | Valuation 7.9/20 | Relative strength 3.9/20 - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks - 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. ### Strongest one-year price performers 1. Himadri Speciality Chemical Ltd (HSCL): 74% 2. PCBL Chemical Ltd (PCBL): -17% ### Strongest relative strength versus NIFTY 500 1. Himadri Speciality Chemical Ltd (HSCL): 44% 2. PCBL Chemical Ltd (PCBL): -3.3% ## Revenue Scale & Growth Durability 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. Evidence: PCBL Chemical Ltd · ₹8,549 crore | 71.8% versus #2 · Himadri Speciality Chemical Ltd | 5/8 recent comparable periods | 2/2 companies · 40 observations Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress. ### Revenue — largest 1. PCBL Chemical Ltd (PCBL): ₹8.5K Cr 2. Himadri Speciality Chemical Ltd (HSCL): ₹5.0K Cr ### Revenue growth — fastest growers 1. Himadri Speciality Chemical Ltd (HSCL): 9.8% 2. PCBL Chemical Ltd (PCBL): 2.1% ### 20-quarter Revenue history - HSCL: Sep 2021 ₹645 Cr | Dec 2021 ₹772 Cr | Mar 2022 ₹834 Cr | Jun 2022 ₹1.0K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.0K Cr | Mar 2023 ₹1.0K Cr | Jun 2023 ₹951 Cr | Sep 2023 ₹1.0K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.1K Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.1K Cr | Dec 2025 ₹1.2K Cr | Mar 2026 ₹1.3K Cr | Jun 2026 ₹1.4K Cr - PCBL: Sep 2021 ₹1.1K Cr | Dec 2021 ₹1.2K Cr | Mar 2022 ₹1.2K Cr | Jun 2022 ₹1.4K Cr | Sep 2022 ₹1.6K Cr | Dec 2022 ₹1.4K Cr | Mar 2023 ₹1.4K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.5K Cr | Dec 2023 ₹1.7K Cr | Mar 2024 ₹1.9K Cr | Jun 2024 ₹2.1K Cr | Sep 2024 ₹2.2K Cr | Dec 2024 ₹2.0K Cr | Mar 2025 ₹2.1K Cr | Jun 2025 ₹2.1K Cr | Sep 2025 ₹2.2K Cr | Dec 2025 ₹1.8K Cr | Mar 2026 ₹2.1K Cr | Jun 2026 ₹2.5K Cr ### 20-quarter Revenue growth history - HSCL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 64% | Dec 2022 34% | Mar 2023 23% | Jun 2023 -9.2% | Sep 2023 -5.1% | Dec 2023 1.5% | Mar 2024 14% | Jun 2024 26% | Sep 2024 13% | Dec 2024 8.4% | Mar 2025 -3.6% | Jun 2025 -6.8% | Sep 2025 -5.8% | Dec 2025 3.8% | Mar 2026 13% | Jun 2026 28% - PCBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 40% | Sep 2022 52% | Dec 2022 18% | Mar 2023 13% | Jun 2023 -4.3% | Sep 2023 -8.7% | Dec 2023 22% | Mar 2024 40% | Jun 2024 59% | Sep 2024 45% | Dec 2024 21% | Mar 2025 8.2% | Jun 2025 -1.4% | Sep 2025 0.1% | Dec 2025 -8.2% | Mar 2026 -1.0% | Jun 2026 17% ## Operating Economics & Margin Trend 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. Evidence: Himadri Speciality Chemical Ltd · 20% | 25% versus #2 · PCBL Chemical Ltd | 6/8 recent comparable periods | 2/2 companies · 40 observations Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth. ### OPM — highest 1. Himadri Speciality Chemical Ltd (HSCL): 20% 2. PCBL Chemical Ltd (PCBL): 16% ### Margin change — fastest expanders 1. PCBL Chemical Ltd (PCBL): +1.0 pp 2. Himadri Speciality Chemical Ltd (HSCL): −2.0 pp ### 20-quarter OPM history - HSCL: Sep 2021 4.6% | Dec 2021 5.7% | Mar 2022 5.2% | Jun 2022 6.8% | Sep 2022 9.2% | Dec 2022 10% | Mar 2023 12% | Jun 2023 14% | Sep 2023 16% | Dec 2023 17% | Mar 2024 15% | Jun 2024 16% | Sep 2024 18% | Dec 2024 19% | Mar 2025 21% | Jun 2025 22% | Sep 2025 22% | Dec 2025 20% | Mar 2026 19% | Jun 2026 20% - PCBL: Sep 2021 18% | Dec 2021 15% | Mar 2022 11% | Jun 2022 14% | Sep 2022 12% | Dec 2022 12% | Mar 2023 13% | Jun 2023 16% | Sep 2023 16% | Dec 2023 17% | Mar 2024 16% | Jun 2024 17% | Sep 2024 17% | Dec 2024 16% | Mar 2025 14% | Jun 2025 15% | Sep 2025 12% | Dec 2025 12% | Mar 2026 12% | Jun 2026 16% ### 20-quarter Margin change history - HSCL: Sep 2021 −7.2 pp | Dec 2021 −3.0 pp | Mar 2022 −1.9 pp | Jun 2022 +0.2 pp | Sep 2022 +4.6 pp | Dec 2022 +4.3 pp | Mar 2023 +6.8 pp | Jun 2023 +7.2 pp | Sep 2023 +6.8 pp | Dec 2023 +7.0 pp | Mar 2024 +3.0 pp | Jun 2024 +2.0 pp | Sep 2024 +2.0 pp | Dec 2024 +2.0 pp | Mar 2025 +6.0 pp | Jun 2025 +6.0 pp | Sep 2025 +4.0 pp | Dec 2025 +1.0 pp | Mar 2026 −2.0 pp | Jun 2026 −2.0 pp - PCBL: Sep 2021 +1.7 pp | Dec 2021 −9.9 pp | Mar 2022 −10.4 pp | Jun 2022 −2.4 pp | Sep 2022 −5.9 pp | Dec 2022 −2.6 pp | Mar 2023 +2.0 pp | Jun 2023 +2.1 pp | Sep 2023 +4.4 pp | Dec 2023 +5.0 pp | Mar 2024 +3.0 pp | Jun 2024 +1.0 pp | Sep 2024 +1.0 pp | Dec 2024 −1.0 pp | Mar 2025 −2.0 pp | Jun 2025 −2.0 pp | Sep 2025 −5.0 pp | Dec 2025 −4.0 pp | Mar 2026 −2.0 pp | Jun 2026 +1.0 pp ## Profit Scale & Acceleration 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. Evidence: Himadri Speciality Chemical Ltd · ₹804 crore | 210.4% versus #2 · PCBL Chemical Ltd | 8/8 recent comparable periods | 2/2 companies · 40 observations Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank. ### Net profit — largest 1. Himadri Speciality Chemical Ltd (HSCL): ₹804 Cr 2. PCBL Chemical Ltd (PCBL): ₹259 Cr ### Profit growth — fastest growers 1. Himadri Speciality Chemical Ltd (HSCL): 32% 2. PCBL Chemical Ltd (PCBL): -37% ### 20-quarter Net profit history - HSCL: Sep 2021 ₹9 Cr | Dec 2021 ₹24 Cr | Mar 2022 ₹-7 Cr | Jun 2022 ₹39 Cr | Sep 2022 ₹36 Cr | Dec 2022 ₹65 Cr | Mar 2023 ₹76 Cr | Jun 2023 ₹86 Cr | Sep 2023 ₹101 Cr | Dec 2023 ₹109 Cr | Mar 2024 ₹115 Cr | Jun 2024 ₹123 Cr | Sep 2024 ₹136 Cr | Dec 2024 ₹141 Cr | Mar 2025 ₹155 Cr | Jun 2025 ₹179 Cr | Sep 2025 ₹176 Cr | Dec 2025 ₹192 Cr | Mar 2026 ₹208 Cr | Jun 2026 ₹228 Cr - PCBL: Sep 2021 ₹122 Cr | Dec 2021 ₹111 Cr | Mar 2022 ₹88 Cr | Jun 2022 ₹126 Cr | Sep 2022 ₹116 Cr | Dec 2022 ₹97 Cr | Mar 2023 ₹102 Cr | Jun 2023 ₹109 Cr | Sep 2023 ₹123 Cr | Dec 2023 ₹148 Cr | Mar 2024 ₹111 Cr | Jun 2024 ₹118 Cr | Sep 2024 ₹123 Cr | Dec 2024 ₹93 Cr | Mar 2025 ₹100 Cr | Jun 2025 ₹94 Cr | Sep 2025 ₹62 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹40 Cr | Jun 2026 ₹155 Cr ### 20-quarter Profit growth history - HSCL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 300% | Dec 2022 171% | Mar 2023 — | Jun 2023 121% | Sep 2023 181% | Dec 2023 68% | Mar 2024 51% | Jun 2024 43% | Sep 2024 35% | Dec 2024 29% | Mar 2025 35% | Jun 2025 46% | Sep 2025 29% | Dec 2025 36% | Mar 2026 34% | Jun 2026 27% - PCBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 21% | Sep 2022 -4.9% | Dec 2022 -12% | Mar 2023 16% | Jun 2023 -13% | Sep 2023 6.0% | Dec 2023 52% | Mar 2024 8.8% | Jun 2024 8.3% | Sep 2024 0.0% | Dec 2024 -37% | Mar 2025 -9.9% | Jun 2025 -20% | Sep 2025 -50% | Dec 2025 -98% | Mar 2026 -60% | Jun 2026 65% ## Return On Capital Employed 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. Evidence: Himadri Speciality Chemical Ltd · 22.1% | 185.2% versus #2 · PCBL Chemical Ltd | 5/8 recent comparable periods | 2/2 companies · 31 observations Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability. ### ROCE — highest 1. Himadri Speciality Chemical Ltd (HSCL): 22% 2. PCBL Chemical Ltd (PCBL): 7.8% ### ROCE change — fastest improvers 1. Himadri Speciality Chemical Ltd (HSCL): −0.3 pp 2. PCBL Chemical Ltd (PCBL): −3.3 pp ### 20-quarter ROCE history - HSCL: Sep 2021 5.2% | Dec 2021 — | Mar 2022 5.6% | Jun 2022 — | Sep 2022 10% | Dec 2022 — | Mar 2023 15% | Jun 2023 — | Sep 2023 17% | Dec 2023 24% | Mar 2024 18% | Jun 2024 25% | Sep 2024 19% | Dec 2024 25% | Mar 2025 20% | Jun 2025 25% | Sep 2025 20% | Dec 2025 25% | Mar 2026 19% | Jun 2026 25% - PCBL: Sep 2021 21% | Dec 2021 — | Mar 2022 16% | Jun 2022 — | Sep 2022 15% | Dec 2022 — | Mar 2023 16% | Jun 2023 — | Sep 2023 16% | Dec 2023 20% | Mar 2024 9.5% | Jun 2024 17% | Sep 2024 11% | Dec 2024 17% | Mar 2025 12% | Jun 2025 12% | Sep 2025 10% | Dec 2025 9.4% | Mar 2026 8.7% | Jun 2026 — ### 20-quarter ROCE change history - HSCL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +5.1 pp | Dec 2022 — | Mar 2023 +9.6 pp | Jun 2023 — | Sep 2023 +7.0 pp | Dec 2023 — | Mar 2024 +2.7 pp | Jun 2024 — | Sep 2024 +1.3 pp | Dec 2024 +1.5 pp | Mar 2025 +1.6 pp | Jun 2025 +0.5 pp | Sep 2025 +1.0 pp | Dec 2025 0.0 pp | Mar 2026 −1.0 pp | Jun 2026 −0.3 pp - PCBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −5.9 pp | Dec 2022 — | Mar 2023 +0.2 pp | Jun 2023 — | Sep 2023 +1.0 pp | Dec 2023 — | Mar 2024 −6.6 pp | Jun 2024 — | Sep 2024 −4.4 pp | Dec 2024 −2.9 pp | Mar 2025 +2.5 pp | Jun 2025 −4.2 pp | Sep 2025 −1.3 pp | Dec 2025 −7.8 pp | Mar 2026 −3.3 pp | Jun 2026 — ## Valuation Against Growth & Quality 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. Evidence: Himadri Speciality Chemical Ltd · 1.36× | 37.3% versus #2 · PCBL Chemical Ltd | 0/8 recent comparable periods | 2/2 companies · 18 observations Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing. ### PEG — lowest PEG 1. Himadri Speciality Chemical Ltd (HSCL): 1.4 2. PCBL Chemical Ltd (PCBL): 2.2 ### P/E — lowest P/E 1. PCBL Chemical Ltd (PCBL): 46.1 2. Himadri Speciality Chemical Ltd (HSCL): 49.3 ### 20-quarter PEG history - HSCL: Sep 2021 — | Dec 2021 0.6 | Mar 2022 — | Jun 2022 — | Sep 2022 6.6 | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 1.1 | Jun 2024 0.9 | Sep 2024 1.6 | Dec 2024 1.8 | Mar 2025 1.8 | Jun 2025 1.3 | Sep 2025 1.2 | Dec 2025 1.1 | Mar 2026 1.1 | Jun 2026 1.4 - PCBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.4 | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 2.5 | Sep 2023 — | Dec 2023 — | Mar 2024 1.7 | Jun 2024 1.8 | Sep 2024 2.5 | Dec 2024 2.2 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — ### 20-quarter P/E history - HSCL: Sep 2021 29.4 | Dec 2021 29.9 | Mar 2022 37.9 | Jun 2022 35.0 | Sep 2022 51.8 | Dec 2022 31.9 | Mar 2023 21.1 | Jun 2023 24.1 | Sep 2023 36.1 | Dec 2023 40.9 | Mar 2024 35.6 | Jun 2024 47.4 | Sep 2024 68.6 | Dec 2024 57.1 | Mar 2025 40.6 | Jun 2025 44.9 | Sep 2025 36.4 | Dec 2025 36.3 | Mar 2026 31.2 | Jun 2026 45.7 - PCBL: Sep 2021 10.5 | Dec 2021 8.7 | Mar 2022 8.6 | Jun 2022 9.5 | Sep 2022 10.6 | Dec 2022 11.1 | Mar 2023 10.2 | Jun 2023 13.9 | Sep 2023 15.0 | Dec 2023 22.0 | Mar 2024 21.0 | Jun 2024 19.7 | Sep 2024 43.3 | Dec 2024 34.9 | Mar 2025 31.9 | Jun 2025 32.1 | Sep 2025 32.8 | Dec 2025 26.6 | Mar 2026 37.0 | Jun 2026 58.1 ## What can make this comparison misleading? - 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. ## Every company - Himadri Speciality Chemical Ltd (HSCL) — market value ₹39.4K Cr; latest fundamentals Jun 2026 - PCBL Chemical Ltd (PCBL) — market value ₹12.2K Cr; latest fundamentals Jun 2026 ## Source standing of each company Cross-checked: 2. Unverified: 0. Withheld: 0. Graded companies: 2. Every company's second-feed figures reconcile against the primary source on overlapping reported periods, so nothing here is unverified or withheld. ## Methodology and freshness Fundamentals through Jun 2026; prices through 2026-08-14. Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable. ## Frequently asked questions ### 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.