Himadri Speciality Chemical (500184) Q4 25/26 earnings summary

Executive summary

• Achieved record financial performance in FY 2026, with highest ever EBITDA of ₹1,006 crore and PAT of ₹755 crore, driven by value-added solutions, operational efficiency, and new product launches.

• Commissioned India's first commercial-scale anode material facility (200 MTPA) and expanded specialty carbon black capacity, positioning as a global leader.

• Strategic investments and partnerships in lithium-ion battery materials, including collaborations with Sicona, IBC, and Invati, to drive innovation and future growth.

• Revived Birla Tyres, contributing INR 187 crore in FY 2026, with plans to scale to INR 3,000 crore in four years.

• Board recommended a final dividend of ₹0.80 per share for FY26, subject to shareholder approval.

Financial highlights

• FY 2026 consolidated revenue: ₹4,661 crore; EBITDA: ₹1,006 crore (up 19% YoY); PAT: ₹755 crore (up 36% YoY); Q4 FY 2026 revenue: ₹1,288 crore, up 14% YoY.

• Standalone FY 2026 revenue: ₹4,405 crore; EBITDA: ₹978 crore (up 16% YoY); PAT: ₹750 crore (up 34% YoY).

• Standalone EPS for FY 2026 was ₹15.05 (basic); consolidated EPS was ₹15.08 (basic).

• Net positive cash balance of ₹121 crore as of March 31, 2026.

• Total assets increased to ₹6,087.26 crore (standalone) and ₹6,306.39 crore (consolidated) as of March 31, 2026.

Outlook and guidance

• Expect both top line and bottom line growth in FY 2027, with margin expansion from new capacities and full-year operations of expanded specialty carbon black and Birla Tyres.

• Committed to doubling PAT from FY 2025 (INR 555 crore) to over INR 1,100 crore by FY 2028.

• Forward integration into anthraquinone and carbazole, and commercial LFP cathode plant targeted for Q3 FY27.

• Expansion into China via a new wholly owned step-down subsidiary is planned to drive global growth.

• No specific annual revenue or margin guidance provided for FY 2027.