PCBL Chemical Limited , a prominent player in the chemical industry, has undergone a significant leadership change, as announced during its board meeting on November 3, 2025. The company has seen the resignation of its Managing Director and the appointment of a new leader to steer the organization forward.

Key Leadership Changes

Resignation of Kaushik Roy

Kaushik Roy has stepped down from his role as Managing Director of PCBL Chemical Limited, citing personal reasons. His resignation is effective immediately from November 3, 2025. As a result of this move, Roy will also relinquish his positions as:

• Chairman of the Sustainability and Risk Management Committee
• Chairman of the CSR Committee
• Member of the Stakeholders Relationship Committee

The company has expressed its appreciation for Roy's contributions during his tenure.

Appointment of Nilesh Koul

Simultaneously, the board has approved the appointment of Nilesh Koul as the new Managing Director. Koul's appointment is subject to shareholder approval through a special resolution via postal ballot. His term is set for five years, commencing from November 3, 2025.

Nilesh Koul's Professional Background

Nilesh Koul brings a wealth of experience to his new role:

Koul's diverse experience spans strategy, sales, marketing, manufacturing, and digital transformation. He has led P&Ls across international geographies, which positions him well to lead PCBL Chemical Limited in its next phase of growth.

The board meeting where these changes were approved commenced at 12:30 PM and concluded at 12:55 PM on November 3, 2025. The company has assured that necessary details regarding the postal ballot for shareholder approval will be provided in due course.

This leadership transition marks a new chapter for PCBL Chemical Limited, as it navigates the evolving landscape of the chemical industry under fresh guidance.

PCBL Chemical reported a mixed performance in Q2 FY26, with strong volume growth offset by margin pressures due to global headwinds and domestic market challenges. The company achieved a 5% quarter-on-quarter increase in carbon black sales volume, reaching 161,728 metric tons with a capacity utilization of 99%.

Financial Highlights

• Consolidated revenue: Rs. 2,164.00 crores
• Consolidated EBITDA: Rs. 278.00 crores
• EBITDA per ton: Approximately Rs. 16,000.00 (down from previous levels of Rs. 20,000.00)

Key Factors Affecting Performance

• US tariffs: Effective 20% rate on exports, impacting about 5% of total volume
• Crude oil price volatility
• GST-related purchase deferrals in the auto sector

Segment Performance

Power Generation

• Record levels achieved: 223 MUs
• External sales: 138 MUs

Aquapharm Chemical Performance

• Revenue: Rs. 395.00 crores (9% topline growth)
• EBITDA: Rs. 48.00 crores

Strategic Initiatives and Outlook

1. Debt Reduction: Reduced gross debt by over Rs. 300.00 crores since March 2025
2. Working Capital Improvement: Improved cycle by 12 days, releasing Rs. 240.00 crores of cash
3. Expansion Projects:
   • 90,000 MTPA rubber line in Tamil Nadu under commissioning
   • Specialty black lines in Gujarat and Mundra progressing

PCBL Chemical's Managing Director, Kaushik Roy, expressed optimism about future recovery: "We believe that this phase has largely bottomed out and expect a steady recovery in profitability in coming quarters."

The company is focusing on operational excellence to navigate current challenges while maintaining its long-term growth strategy. Management expects EBITDA per ton to improve from the current Rs. 16,000.00 level, potentially returning to previous levels of Rs. 20,000.00 as market conditions stabilize.

Aquapharm Chemical, a subsidiary of PCBL Chemical, is targeting an exit rate of Rs. 75.00 crores EBITDA by year-end, driven by new product lines and expanding market reach.

Despite short-term headwinds, PCBL Chemical remains committed to its expansion plans and long-term growth objectives, positioning itself to capitalize on market recovery and emerging opportunities in specialty chemicals and advanced materials.