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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.
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Q1 25/26 earnings summary18 Jul, 2025

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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Q2 25/2617 Oct, 2025
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