At a Glance
POCL Enterprises is the stock version of a backbencher who suddenly tops the class. It smelts lead, alloys metals, and silently prints a 38% ROE. It’s grown profits at 127% CAGR, but while everyone is watching Deepak Nitrite and Tata Chem, this one’s pulling a stealth rally from ₹80 to ₹227 in 12 months. Is this still a buy — or has the periodic table priced it in?
1. 🔬 WTF Do They Even Do?
This isn’t some sexy green-tech firm. POCL is:
- Ametal and chemical processorwith focus onlead,zinc, and associated alloys.
- Primary biz:
- Lead smeltingand refining
- Zinc metalandlead alloys(used in cables, X-ray shields, ammo…not for Marvel weapons, yet)
- 65% of FY25 revenue =Metals, up from 54% in FY22.
- Also has small exposure
- to oxides and chemical intermediates.
📦 Translation: boring business, beautiful balance sheet.
2. 🧾 Financials – Who Gave This Lead Stock a Gold Heart?
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue (â‚ą Cr) | 319 | 498 | 874 | 1,120 | 1,450 |
| Net Profit (â‚ą Cr) | 1 | 3 | 13 | 18 | 31 |
| EPS (â‚ą) | 0.52 | 1.21 | 4.62 | 6.36 | 11.18 |
| ROCE (%) | 7% | 9% | 21% | 24% | 32% |
| ROE (%) | – | – | 25% | 30% | 37.6% 💥 |
🧠CAGR check:
- Revenue (3Y):43%
- PAT (3Y):107%
- Stock price (3Y):174%
3. 📉 Valuation – Is It Still a Hidden Gem?
| Metric | Value |
|---|---|
| CMP | â‚ą227 |
| EPS (TTM) | â‚ą11.18 |
| P/E | 20.3x |
| Book Value | â‚ą35.1 |
| P/B | 6.5x |
| Market Cap | â‚ą634 Cr |
🧮Fair Value Range:
Let’s assume FY26 EPS = ₹14–15 (20–30% growth)Assign a modest chemical-metal hybrid multiple =16–22x
👉FV Range = ₹224 – ₹330
So at ₹227, it’sfairly priced, not cheap —but still
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