Himadri Speciality Chemical Reports Record Q1 FY26 Profit, Advances New Energy & Speciality Projects
The announcement details record financial performance and significant progress on multiple high-impact projects, including a large LFP manufacturing plant, speciality carbon black capacity doubling, and the strategic foray into the tyre business. These initiatives indicate substantial future growth potential and market positioning.
The company reported its highest-ever EBITDA and PAT for Q1 FY26, alongside strategic advancements in new energy materials (LFP plant, Sicona, IBC investments), core business expansion, and the commencement of Birla Tyres operations. The management also guided for doubling net profit by FY27.
Himadri Speciality Chemical Limited (HSCL) announced its financial performance for the first quarter ended 30 June 2025, reporting its highest-ever EBITDA and PAT. * Financial Highlights (Q1 FY26 Standalone): * EBITDA stood at ₹234 crore, a 25% increase from ₹188 crore in the prior year. * Profit After Tax (PAT) significantly increased by 48% to ₹183 crore, compared to ₹123 crore a year ago. * Revenue was ₹1,100 crore, marginally impacted by correction in raw material prices. * Sales volume increased to 1,40,090 metric tonnes. * Net debt was ₹107 crore, with a Return on Capital Employed (ROCE) of 32% (excluding investment and capital work in progress) as of 30 June 2025. * Strategic Developments and Future Outlook: * Birla Tyres: Operations commenced at the Balasore plant, with Q1 FY26 sales of ₹5 crore from the tyre business (started 29 May 25). The company is focusing on high-performance speciality tyres and progressing on commissioning passenger car radial tyres for EV and SUV segments. Additional capital expenditure of ₹250 crore to ₹300 crore is planned for the current year, continuing for the next two years to modernize and ramp up capacity. * New Energy Materials: * Signed an exclusive technology licensing agreement with Sicona, an Australian innovator, for SiCx silicon carbon anode material, which enhances energy density by 20% and charging speed by 40%. * Acquired a 16.24% equity stake in International Battery Company (IBC), a US-headquartered technology developer. IBC is setting up a gigafactory in Bengaluru, expected to be operational by Q4 FY26, and is developing its LFP-based Prabal 2000 using Himadri's battery materials. * Phase 1 of the world's first commercial Lithium Iron Phosphate (LFP) manufacturing plant outside China, with a planned capacity of 40,000 metric tonnes per annum, is progressing and expected to be operational by Q3 FY27, with full-scale operations by FY28. The estimated pricing for LFP product is ₹6 lakh to ₹7 lakh per tonne, targeting global markets, particularly Europe and US, alongside domestic demand. * Himadri is actively developing anode materials, with a CAPEX announcement pending engineering completion. The recent 165% effective duty on Chinese anode graphite by the US presents a significant opportunity. * Core Business Expansion: * A new high-temperature liquid coal tar pitch terminal has been commissioned at Mangalore, enhancing logistics and export competitiveness. * A unique facility to extract high-value chemicals like anthraquinone and carbazole from coal-tar distillates is expected to be commissioned in Q2 FY27. * Entered the consumer segment with DurofreshTM, a high-purity naphthalene balls retail brand. * Brownfield expansion of 70,000 metric tonnes per annum in speciality carbon black is on track for commissioning by Q3 FY26, which will double the capacity to 1,30,000 metric tonnes, making it the single largest speciality carbon black site globally. * Debottlenecking of coal tar pitch capacity from 5,00,000 metric tonnes to 6,00,000 metric tonnes is expected by Q3. * Management Outlook: Mr. Anurag Choudhary, CMD & CEO, stated that the company expects its net profit to double from FY24 to FY27, highlighting Q1 as a strong start reflecting strategic direction, capacity expansion, and technology-driven product development. Volume growth is anticipated from Q4 FY26 onwards. Exports currently contribute 34% of the revenue.
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