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Himadri Speciality Chemical (500184) investor relations material
Himadri Speciality Chemical Q1 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q1 FY26 and FY25 saw record EBITDA and PAT, driven by high-value product sales, operational efficiencies, and strategic expansion in specialty carbon black, battery materials, and tyres.
Diversification into battery materials, including LFP cathode and anode technologies, and global integration through acquisitions in Sicona, IBC, and Invati Creations.
Sustainability and ESG leadership recognized with global awards, including EcoVadis Platinum and CDP 'B' rating.
Several new subsidiaries, including Birla Tyres Limited, were consolidated during the quarter.
Unaudited standalone and consolidated financial results for the quarter ended 30 June 2025 were approved with no material misstatements.
Financial highlights
FY25 revenue was Rs. 4,595.8 Cr, up 9.82% YoY; Q1 FY26 consolidated revenue was INR 1,118 crore, down from INR 1,200 crore YoY due to lower raw material prices.
Q1 FY26 EBITDA rose 25% YoY to INR 235 crore; PAT increased 46% YoY to INR 179 crore; ROCE at 32% (excluding investments and CWIP).
Standalone net profit after tax for Q1 FY26 was INR 182.57 crore, up from INR 123.45 crore YoY; basic EPS was INR 3.70.
Net positive cash balance of Rs. 371.2 Cr as of March 31, 2025; standalone debt-equity ratio at 0.21.
Sales volume for Q1 FY26 was 140,090 MT, up 1% YoY.
Outlook and guidance
Net profit expected to double from FY24 to FY27; significant sustainable growth in profitability projected over the next two years.
Specialty carbon black capacity to more than double by Q3 FY26, making it the largest site globally.
LFP cathode plant (40,000 MT/year) on track for Q3 FY27 commissioning, targeting 200,000 MTPA capacity over 5-6 years.
Forward integration into anthraquinone and carbazole to be completed by Q2 FY27.
Effective 1 April 2025, migrated to lower tax regime under section 115BAA, impacting deferred tax calculations.
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