Himadri Speciality Chemical Q2 FY27 Earnings Call Transcript Released
Himadri Speciality Chemical reported strong Q2 FY27 results with consolidated revenue at ₹1,691 crore and PAT at ₹231 crore. Key new material capacities, including LFP cathode (2,000 TPA) and anthraquinone/carbazole (5,300 TPA), are targeted for commissioning by Q3/Q4 FY27. The company reiterated its FY28 PAT guidance of ₹1,100 crore. The proposed merger of Birla Tyres is progressing.
The announcement provides detailed financial results, updates on significant new product developments and capacity expansions in high-growth areas like battery materials, and progress on a major corporate action (Birla Tyres merger). These factors are material and will likely influence investor perception and valuation.
The company reported strong financial results with significant year-on-year growth in revenue and profit. Positive updates on new material development, capacity expansions, strategic investments, and the progress of the Birla Tyres merger contribute to a positive outlook.
Himadri Speciality Chemical Limited has released the transcript of its earnings conference call for the second quarter and half-year ended September 30, 2026. The call, held on October 22, 2026, featured insights from Mr. Anurag Choudhary (CMD & CEO) and Mr. Somesh Satnalika (EVP, Tyre and Strategy).
During the call, management highlighted strong financial performance for H1 FY27 on a consolidated basis, with revenue exceeding ₹3,000 crore, EBITDA surpassing ₹600 crore, and profit after tax crossing ₹450 crore. Standalone Q2 FY27 revenue stood at ₹1,543 crore, with EBITDA at ₹308 crore (up 27% YoY) and PAT at ₹240 crore (up 28% YoY). Consolidated Q2 FY27 revenue was ₹1,691 crore, with EBITDA at ₹303 crore (up 27% YoY) and PAT at ₹231 crore (up 31% YoY).
Key strategic developments discussed include the progress on new material platforms. The 200 TPA Carbon Nanotube (CNT) facility is targeted for commissioning in Q4 FY27. The 6,000 TPA Super Speciality Carbon Black capacity is slated for Q4 FY28. The initial 2,000 TPA LFP cathode active materials capacity is targeted for Q3 FY27, with a subsequent 40,000 TPA expansion planned for the following year. Progress on synthetic graphite and silicon carbon anode technologies was also noted, with materials supplied to leading domestic and global customers for qualification.
The company is accelerating execution for anthraquinone and carbazole with a full capacity of 5,300 TPA targeted for commissioning in Q4 FY27. Deeper customer engagements are ongoing, with NDAs signed across Battery Materials, CNT, and Super Speciality Carbon Black segments. ENERGEX specialty carbon black grades received approval for high-voltage cable and battery applications.
Strategic investments and partnerships continue, including further investment in Sicona Battery Technologies, which acquired Advano, adding silicon anode intellectual property and R&D capabilities. Sicona secured AUD45 million in funding from ARENA for its silicon carbon anode technology. Himadri's investment in International Battery Company (IBC) further strengthens its position in the lithium-ion value chain.
To enhance its global reach, Himadri incorporated Ardent Impex FZCO in Dubai as a wholly-owned subsidiary for global sales, marketing, and procurement. The company also discussed the proposed merger of Birla Tyres business, following its acquisition in October 2023. Commercial production for Birla Tyres resumed on May 29, 2025. The Board has proposed the demerger of the tyre business from Dalmia Bharat Refractories Limited into Himadri Speciality Chemical Ltd, subject to approvals.
Looking ahead to the second half of FY27, priorities include strengthening the core business, accelerating new material commercialization, expanding international presence, and progressing the Birla Tyres merger. The company reiterated its guidance of achieving ₹1,100 crore PAT by FY28.
Regarding the mining segment, environmental clearance has been received, and operations are expected to commence in the current quarter, with an estimated annual revenue of ₹500 crore. The company anticipates a positive cash flow from operations by the end of the year and aims to fund future capex through internal accruals.
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Himadri Speciality Chemical Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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