PCBL eyes market share gains as Russian carbon black faces EU ban

Mumbi, India – PCBL, formerly Philips Carbon Black Ltd, anticipates continuous growth in the international market over the next few years, according to managing director Kaushik Roy.

The growth will be primarily driven by expansion into new geographies, strategic investments in supply chain capabilities and moving up the value chain, he explained during a fourth quarter earnings call 20 April.

“Capacity growth in the EU and US has been stagnant, and Russian carbon black is banned by the EU,” said Roy, adding “in the process, PCBL is gaining market share in both markets.”

According to Roy, the outlook for tire-related carbon black remains positive, both in India and globally, supported by continued growth in EV-related replacement demand.

With EV penetration rising across two-wheelers and passenger vehicles, the company expect replacement tire demand to remain “steady and positive”, said Roy.

During the final quarter of fiscal 2025, PCBL reported a 5.3% year-on-year increase in consolidated sales volume in its carbon black business to 150 kilotonnes.

Tire accounted for 90 kilotonnes of volumes, while ‘performance chemical’ reported sales volume of 44.7 kilotonnes and speciality volumes stood at 15.3 kilotonnes.

This, according to Roy, translates into a capacity utilisation of over 95% during the quarter, which ended 31 March.

Of the total Carbon Black sales volume, domestic sales volume stood at 86.7 kilotonnes, while international sales volume stood at 63.4 kilotonnes, up 16.8% compared to the fourth quarter of the previous year.

Group consolidated revenue from operations increased by 8.2% to INR20.9 billion (€220 million), driven by higher sales volume and revenue from its recently acquired Aquapharm speciality chemicals operations.

Consolidated earnings (EBITDA) fell by 4.5% year-on-year to INR3 billion, with earnings per tonne in the ‘carbon black’ business standing at INR17,655.