PCBL: This multibagger stock surged 17% after Q3 earnings this week; is it a good time to buy?

livemint.com:

PCBL (formerly Phillips Carbon Black), a leading manufacturer of carbon black, have been on a strong upward trend since April 2020, rewarding their shareholders handsomely. Over this period, the shares have surged from ₹32 apiece to the current price of ₹310, delivering an impressive return of nearly 700%. In CY23, the company's shares witnessed a notable gain of 94%, attributed to the robust performance of the core carbon black business and the strategic entry into the high-growth specialty chemical sector.

Also Read: HDFC Bank recovers after 11% fall in last 2 sessions; what should investors do now? In the previous trading session, the stock achieved a new record high of ₹317.95 apiece and it concluded the week with a remarkable rally of 17%, marking its best weekly performance since October 2023. This uptrend came after investors were impressed with the company's Q3 FY24 earnings. The company on Monday (January 15) posted a consolidated net profit of ₹148 crore, an improvement of 52% YoY and 20% on a QoQ basis, driven by an improvement in per-kg profitability.

It reported consolidated revenue from operations of ₹1,657 crore, up 21.60% YoY and 11% QoQ, led by a rise in volumes of 33% YoY and 5% QoQ. Sequentially, realisations jumped by 7%. Also Read: How does Indian market stack up against Asian peers when it comes to recent correction? Blended gross spreads grew by 16% YoY & 7% QoQ to ₹36.2 per kg, the highest-ever gross spread reported by the company over the last 18 quarters.