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Himadri Speciality Chemical (500184) investor relations material
Himadri Speciality Chemical Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 FY27 consolidated revenue was ₹1,691.43 crore, up 57.93% YoY; EBITDA was ₹303.22 crore and PAT ₹231.32 crore.
H1 FY27 consolidated revenue was ₹3,123.31 crore, up 42.66% YoY; EBITDA was ₹616.33 crore and PAT ₹459.75 crore.
Strategic focus shifted toward global advanced materials, speciality products and energy-transition markets, supported by capacity additions and battery-material investments.
Board approved unaudited Q2 and H1 results on 16 October 2026; limited reviews reported no modified conclusion.
Financial highlights
Consolidated Q2 revenue was ₹1,691.43 crore vs ₹1,071.03 crore YoY; PBT was ₹307.34 crore vs ₹236.54 crore and net profit ₹231.32 crore vs ₹176.14 crore.
Consolidated H1 revenue was ₹3,123.31 crore vs ₹2,189.32 crore; PBT was ₹607.85 crore vs ₹477.76 crore and net profit ₹459.75 crore vs ₹355.50 crore.
Standalone Q2 revenue was ₹1,542.67 crore, EBITDA ₹308.19 crore and PAT ₹239.77 crore; H1 revenue was ₹2,816.93 crore, EBITDA ₹610 crore and PAT ₹463.19 crore.
Consolidated Q2 EBIT was ₹335.06 crore, up 33.32% YoY; H1 gross profit was ₹1,040.19 crore and EBIT ₹657.98 crore.
No exceptional items were recorded in consolidated or standalone Q2 or H1 FY27 results.
Outlook and guidance
FY28 PAT target of ₹1,100+ crore reaffirmed, supported by core business performance and commissioning new capacity.
Sustainable EBITDA guidance emphasized absolute per-tonne returns of ₹20,000–24,000; management also cited a broader ₹20,000–25,000 range as quarterly conditions vary.
LFP trial production of 2,000 MT targeted for Q3 FY27; 40,000 MT capacity deferred to FY28-end, with customer qualification ahead of commercial ramp-up.
Anthraquinone and Carbazole capacity of 5,300 MTPA and CNT capacity of 200 MTPA targeted for Q4 FY27; 6,000 MTPA Super Speciality Carbon Black capacity targeted for Q4 FY28.
Birla Tyres PCR facility commissioning targeted by FY28; India Gigafactory commercial operations with IBC targeted for Q1 FY28.
- Higher sales lifted profit as a major capacity expansion moved forward.500184
Q4 02/03 - Profit rose as expansion targeted more than double capacity; coal-tar scarcity remained a risk.500184
Q4 03/04 - PAT rose 132% as new capacity came online amid feedstock shortages.500184
Q4 04/05 - Record profit growth and capacity expansion positioned the business to pursue rising pitch demand.500184
Q4 05/06 - Profit surged on efficiency gains as India-China expansion targeted 1 million MTPA capacity.500184
Q4 06/07 - EBITDA and exports advanced as one-off inventory and FX losses cut net profit.500184
Q4 08/09 - Profit and margins rose as expansion shifted the portfolio beyond coal-tar pitch.500184
Q4 07/08 - Lower FY20 earnings met cash discipline and a strategic push into speciality carbon products.500184
Q4 19/20 - Strong earnings growth and new capacity set the stage for a major expansion cycle.500184
Q4 09/10
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