Himadri Speciality Chemical Ltd.
HSCLCommodities filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
5 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 5 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20250723 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251029 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260128 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260502 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260721 | 2026-06-30 | yes |
HSCL
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 674.90 |
| 52-week range | 422.0 – 800.9 |
| Return 1M | 2.3% |
| Return 3M | -0.47% |
| Return 1Y | 44.26% |
| Return 3Y | 173.07% |
| Return 5Y | 1189.21% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 1,432.00 |
| Other income | 56.00 |
| Total income | 1,488.00 |
| Cost of materials consumed | 1,003.00 |
| Purchases of stock-in-trade | 115.00 |
| Changes in inventories | -206.00 |
| Employee benefit expense | 58.00 |
| Finance costs | 22.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.53 | 0.00 |
| institutions foreign | 0.07 | 0.01 |
| institutions domestic | 0.03 | 0.00 |
| mutual funds | 0.01 | 0.00 |
| public | 0.47 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 5 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,059.00 | 1,037.00 | 1,029.00 | 951.00 | 1,005.00 | 1,053.00 | 1,177.00 | 1,200.00 | 1,137.00 | 1,141.00 | 1,135.00 | 1,118.00 | 1,071.00 | 1,184.00 | 1,288.00 | 1,432.00 |
| Other income | 8.00 | 8.00 | 11.00 | 10.00 | 10.00 | 10.00 | 12.00 | 13.00 | 14.00 | 12.00 | 14.00 | 27.00 | 36.00 | 47.00 | 62.00 | 56.00 |
| Total income | 1,067.00 | 1,045.00 | 1,039.00 | 961.00 | 1,014.00 | 1,063.00 | 1,189.00 | 1,213.00 | 1,150.00 | 1,153.00 | 1,148.00 | 1,145.00 | 1,107.00 | 1,230.00 | 1,350.00 | 1,488.00 |
| Cost of materials consumed | 965.00 | 832.00 | 686.00 | 695.00 | 750.00 | 788.00 | 834.00 | 829.00 | 830.00 | 781.00 | 712.00 | 726.00 | 711.00 | 612.00 | 621.00 | 1,003.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6.00 | 28.00 | 69.00 | 95.00 | 115.00 |
| Changes in inventories | -143.00 | -12.00 | 95.00 | 5.00 | -26.00 | -33.00 | 17.00 | 21.00 | -41.00 | -18.00 | 32.00 | -22.00 | -77.00 | 60.00 | 71.00 | -206.00 |
| Employee benefit expense | 26.00 | 21.00 | 22.00 | 26.00 | 28.00 | 27.00 | 30.00 | 31.00 | 35.00 | 37.00 | 36.00 | 41.00 | 51.00 | 53.00 | 48.00 | 58.00 |
| Finance costs | 20.00 | 20.00 | 13.00 | 13.00 | 16.00 | 21.00 | 14.00 | 13.00 | 11.00 | 12.00 | 9.00 | 16.00 | 15.00 | 16.00 | 17.00 | 22.00 |
| Depreciation and amortisation | 13.00 | 13.00 | 12.00 | 12.00 | 12.00 | 13.00 | 13.00 | 13.00 | 13.00 | 15.00 | 14.00 | 15.00 | 17.00 | 18.00 | 19.00 | 21.00 |
| Other expenses | 114.00 | 91.00 | 101.00 | 90.00 | 94.00 | 97.00 | 117.00 | 127.00 | 104.00 | 119.00 | 121.00 | 123.00 | 125.00 | 147.00 | 210.00 | 174.00 |
| Total expenses | 995.00 | 966.00 | 929.00 | 842.00 | 875.00 | 913.00 | 1,024.00 | 1,034.00 | 953.00 | 947.00 | 924.00 | 904.00 | 870.00 | 975.00 | 1,082.00 | 1,188.00 |
| Profit before exceptional items and tax | 72.00 | 79.00 | 111.00 | 119.00 | 139.00 | 150.00 | 166.00 | 179.00 | 197.00 | 206.00 | 224.00 | 241.00 | 237.00 | 255.00 | 268.00 | 301.00 |
| Exceptional items | -30.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 42.00 | 79.00 | 111.00 | 119.00 | 139.00 | 150.00 | 166.00 | 179.00 | 197.00 | 206.00 | 224.00 | 241.00 | 237.00 | 255.00 | 268.00 | 301.00 |
| Current tax | 6.00 | 14.00 | 20.00 | 21.00 | 24.00 | 26.00 | 30.00 | 31.00 | 34.00 | 37.00 | 41.00 | 61.00 | 55.00 | 58.00 | 49.00 | 62.00 |
| Deferred tax | 0.00 | 1.00 | 15.00 | 12.00 | 14.00 | 15.00 | 21.00 | 24.00 | 27.00 | 28.00 | 28.00 | 1.00 | 5.00 | 5.00 | 11.00 | 10.00 |
| Tax expense | 6.00 | 14.00 | 34.00 | 33.00 | 38.00 | 41.00 | 51.00 | 56.00 | 62.00 | 65.00 | 69.00 | 62.00 | 60.00 | 63.00 | 60.00 | 72.00 |
| Profit for the period | 36.00 | 65.00 | 76.00 | 86.00 | 101.00 | 109.00 | 115.00 | 123.00 | 136.00 | 141.00 | 155.00 | 179.00 | 176.00 | 192.00 | 208.00 | 228.00 |
| Profit attributable to owners | 36.00 | 65.00 | 76.00 | 86.00 | 101.00 | 109.00 | 115.00 | 123.00 | 135.00 | 142.00 | 156.00 | 182.00 | 177.00 | 192.00 | 201.00 | 230.00 |
| Profit attributable to non-controlling interests | -0.00 | 0.00 | -0.00 | -0.00 | -0.00 | -0.00 | 0.00 | 0.00 | 0.00 | -1.00 | -0.00 | -2.00 | -1.00 | -0.00 | 7.00 | -1.00 |
| Other comprehensive income | 34.00 | 4.00 | -15.00 | 49.00 | -4.00 | 3.00 | -1.00 | 1.00 | 7.00 | 13.00 | -2.00 | 2.00 | 3.00 | -0.00 | 4.00 | 6.00 |
| Total comprehensive income | 70.00 | 69.00 | 61.00 | 135.00 | 97.00 | 112.00 | 114.00 | 124.00 | 143.00 | 155.00 | 154.00 | 181.00 | 179.00 | 192.00 | 212.00 | 234.00 |
| Earnings per share, basic | 0.86 | 1.55 | 1.80 | 1.99 | 2.29 | 2.47 | 2.41 | 2.49 | 2.74 | 2.88 | 3.15 | 3.68 | 3.58 | 3.84 | 3.98 | 4.55 |
| Earnings per share, diluted | 0.86 | 1.55 | 1.80 | 1.99 | 2.29 | 2.47 | 2.41 | 2.48 | 2.72 | 2.85 | 3.12 | 3.65 | 3.55 | 3.84 | 3.98 | 4.55 |
Annual results, as filed
| Line | 2021-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Revenue from operations | 1,679.00 | 4,172.00 | 4,185.00 | 4,613.00 | 4,661.00 |
| Other income | 14.00 | 28.00 | 43.00 | 52.00 | 171.00 |
| Total income | 1,694.00 | 4,200.00 | 4,227.00 | 4,664.00 | 4,832.00 |
| Cost of materials consumed | 1,082.00 | 3,285.00 | 3,067.00 | 3,152.00 | 2,670.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 198.00 |
| Changes in inventories | 152.00 | -30.00 | -37.00 | -5.00 | 32.00 |
| Employee benefit expense | 76.00 | 92.00 | 110.00 | 139.00 | 194.00 |
| Finance costs | 33.00 | 66.00 | 64.00 | 45.00 | 64.00 |
| Depreciation and amortisation | 47.00 | 51.00 | 50.00 | 55.00 | 68.00 |
| Other expenses | 239.00 | 427.00 | 399.00 | 472.00 | 605.00 |
| Total expenses | 1,629.00 | 3,890.00 | 3,654.00 | 3,858.00 | 3,831.00 |
| Profit before exceptional items and tax | 65.00 | 310.00 | 574.00 | 806.00 | 1,001.00 |
| Exceptional items | 0.00 | -30.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 65.00 | 280.00 | 574.00 | 806.00 | 1,001.00 |
| Current tax | 12.00 | 48.00 | 101.00 | 143.00 | 224.00 |
| Deferred tax | 5.00 | 17.00 | 62.00 | 108.00 | 22.00 |
| Tax expense | 17.00 | 64.00 | 163.00 | 251.00 | 246.00 |
| Profit for the period | 47.00 | 216.00 | 411.00 | 555.00 | 755.00 |
| Profit attributable to owners | 47.00 | 216.00 | 411.00 | 556.00 | 751.00 |
| Profit attributable to non-controlling interests | -0.00 | -0.00 | -0.00 | -1.00 | 4.00 |
| Other comprehensive income | 17.00 | 8.00 | 46.00 | 20.00 | 9.00 |
| Total comprehensive income | 64.00 | 224.00 | 457.00 | 575.00 | 764.00 |
| Earnings per share, basic | 1.13 | 5.13 | 9.16 | 11.26 | 15.08 |
| Earnings per share, diluted | 1.13 | 5.13 | 9.16 | 11.17 | 15.02 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 3,943.00 | 3,678.00 | 4,236.00 | 4,449.00 | 4,477.00 | 4,656.00 | 5,518.00 | 6,306.00 |
| Non-current assets | 1,810.00 | 1,793.00 | 2,175.00 | 2,142.00 | 2,328.00 | 2,505.00 | 2,971.00 | 3,483.00 |
| Current assets | 2,134.00 | 1,885.00 | 2,061.00 | 2,307.00 | 2,150.00 | 2,151.00 | 2,547.00 | 2,824.00 |
| Property, plant and equipment | 1,491.00 | 1,488.00 | 1,513.00 | 1,510.00 | 1,492.00 | 1,502.00 | 1,526.00 | 1,812.00 |
| Capital work-in-progress | 86.00 | 94.00 | 66.00 | 67.00 | 105.00 | 185.00 | 443.00 | 372.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 18.00 | 24.00 | 24.00 |
| Other intangible assets | 29.00 | 27.00 | 25.00 | 24.00 | 68.00 | 85.00 | 113.00 | 106.00 |
| Inventories | 737.00 | 544.00 | 842.00 | 703.00 | 620.00 | 585.00 | 741.00 | 763.00 |
| Trade receivables | 616.00 | 505.00 | 574.00 | 656.00 | 659.00 | 633.00 | 602.00 | 696.00 |
| Cash and cash equivalents | 276.00 | 208.00 | 44.00 | 215.00 | 56.00 | 155.00 | 69.00 | 165.00 |
| Total equity and liabilities | 3,943.00 | 3,678.00 | 4,236.00 | 4,449.00 | 4,477.00 | 4,656.00 | 5,518.00 | 6,306.00 |
| Equity | 2,077.00 | 2,278.00 | 2,541.00 | 3,043.00 | 3,420.00 | 3,771.00 | 4,096.00 | 4,762.00 |
| Equity share capital | 42.00 | 43.00 | 44.00 | 49.00 | 49.00 | 49.00 | 49.00 | 50.00 |
| Other equity | 2,038.00 | 2,237.00 | 2,500.00 | 2,996.00 | 3,360.00 | 3,672.00 | 4,020.00 | 4,656.00 |
| Total liabilities | 1,866.00 | 1,400.00 | 1,695.00 | 1,406.00 | 1,057.00 | 885.00 | 1,421.00 | 1,544.00 |
| Non-current liabilities | 163.00 | 153.00 | 171.00 | 203.00 | 250.00 | 280.00 | 344.00 | 308.00 |
| Current liabilities | 1,703.00 | 1,248.00 | 1,524.00 | 1,203.00 | 806.00 | 605.00 | 1,078.00 | 1,236.00 |
| Borrowings, non-current | 71.00 | 48.00 | 28.00 | 22.00 | 16.00 | 3.00 | 56.00 | 4.00 |
| Borrowings, current | 1,241.00 | 788.00 | 1,001.00 | 579.00 | 326.00 | 306.00 | 804.00 | 762.00 |
| Trade payables | 148.00 | 346.00 | 432.00 | 570.00 | 418.00 | 239.00 | 166.00 | 375.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | -430.00 | 54.00 | -266.00 | 405.00 | 177.00 | 447.00 | -95.00 | 382.00 |
| Net cash from investing activities | -268.00 | -397.00 | -93.00 | -405.00 | -116.00 | -235.00 | -464.00 | -964.00 |
| Net cash from financing activities | 801.00 | 377.00 | 196.00 | 7.00 | -221.00 | -271.00 | 472.00 | 591.00 |
| Purchase of property, plant and equipment | 54.00 | 83.00 | 34.00 | 52.00 | 53.00 | 171.00 | 181.00 | 450.00 |
| Net increase in cash | 103.00 | 34.00 | -164.00 | 7.00 | -159.00 | -60.00 | -87.00 | 10.00 |
| con:CFO.BEFORE_TAX | -414.00 | 101.00 | -230.00 | 498.00 | 232.00 | 591.00 | 9.00 | 613.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 36.00 | 0.00 | 55.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 16.00 | 47.00 | 0.00 | 93.00 | 0.00 | 144.00 | 104.00 | 231.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 422.00 | 0.00 | 95.00 | 0.00 | 509.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 137.00 | 0.00 | -2.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 4.00 | 7.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.00 | 5.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-12-31 | 2024-01-19 | 2024-02-02 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-11-07 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 44.79 | 48.87 | 50.29 | 50.29 | 50.20 | 50.78 | 51.56 | 51.61 | 51.61 | 0.52 | 0.53 | 0.53 | 0.53 | 0.53 |
| Domestic institutions | 0.64 | 0.59 | 0.57 | 2.12 | 2.28 | 3.60 | 4.25 | 4.63 | 4.83 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Mutual funds | — | — | — | — | — | — | — | — | 2.77 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Insurance companies | 0.00 | 0.00 | 0.00 | 0.67 | 0.88 | 1.00 | 1.39 | 1.71 | 1.97 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Foreign institutions | 5.39 | 4.97 | 4.83 | 5.13 | 5.16 | 5.24 | 5.15 | 5.38 | 5.19 | 0.06 | 0.06 | 0.06 | 0.06 | 0.07 |
| Government | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 55.21 | 51.13 | 49.71 | 49.71 | 49.80 | 49.22 | 48.44 | 48.39 | 48.39 | 0.48 | 0.47 | 0.47 | 0.47 | 0.47 |
| Non-institutional | 49.18 | 45.57 | 44.31 | 42.46 | 42.36 | 40.39 | 39.04 | 38.38 | 38.36 | 0.39 | 0.39 | 0.39 | 0.38 | 0.37 |
| Shares outstanding | 440694573 | 478744573 | 492594573 | 492594573 | 493515134 | 493656224 | 493681224 | 493782224 | 493849499 | 494169950 | 504494950 | 504518950 | 504541599 | 504541599 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| AAT Global Limited | Subsidiaries | Any other transaction, Purchase of goods or services | 4,954,213,000.00 | 2 |
| Modern Hi-Rise Private Limited | Promoter Group | Any other transaction, Dividend paid | 91,314,000.00 | 2 |
| Himadri Clean Energy Limited | Subsidiaries | Any other transaction, Interest received, Loan | 72,056,000.00 | 3 |
| Next Generation Traders Pvt Ltd | Enterprises controlled by the Key | Any other transaction | 72,000,000.00 | 1 |
| Himadri Green Technologies Innovation Limited | Subsidiaries | Interest received, Loan | 35,308,000.00 | 2 |
| Mr. Anurag Choudhary | Chairman Cum Managing Director &am | Dividend paid, Purchase of goods or services, Remune | 34,693,000.00 | 3 |
| Himadri Foundation | Enterprises controlled by the Key | Any other transaction | 31,500,000.00 | 1 |
| Mr. Amit Choudhary | Executive Director | Dividend paid, Purchase of goods or services, Remune | 22,564,000.00 | 3 |
| Mr. Somesh Satnalika | Executive Vice President - Tyre &a | Dividend paid, Remuneration | 20,203,000.00 | 2 |
| Mr. Shyam Sundar Choudhary | Executive Director | Dividend paid, Purchase of goods or services, Remune | 19,222,000.00 | 3 |
| Mr. Monojit Mukherjee | Business President – Carbon Black | Any other transaction, Dividend paid, Remuneration | 17,533,000.00 | 3 |
| Mr. Kamlesh Kumar Agarwal | Chief Financial Officer (KMP) | Any other transaction, Dividend paid, Remuneration | 11,852,000.00 | 3 |
| Combe Projects Private Limited | Subsidiaries | Any other transaction, Interest received | 11,202,000.00 | 3 |
| Dr. Soumen Chakraborty | President Carbon Black Division (K | Dividend paid, Remuneration | 6,051,000.00 | 2 |
| Mr. Kunal Mukherjee | Vice President HR (KMP) | Advance, Dividend paid, Remuneration | 4,396,000.00 | 3 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-21 | Q1FY27 | SPECIALITY CHEMICAL LIMITED | Read the call |
| 2026-05-02 | Q4FY26 | Read the call | |
| 2026-01-28 | Q3FY26 | SPECIALITY CHEMICAL LTD | Read the call |
| 2025-10-29 | Q2FY26 | PRESIDENT, TYRE & STRATEGY | Read the call |
| 2025-07-23 | Q1FY26 | PRESIDENT (TYRE & STRATEGY) | Read the call |
What they said about it, quarter by quarter
| Topic | Q1FY26 | Q1FY27 | Q2FY26 | Q3FY26 | Q4FY26 |
|---|---|---|---|---|---|
| Capex | Because in anode we have not spoken much about and we have not announced any CAPEX, can you give more color on the anode side of the business? | Backed by a planned capex of approximately INR70 Crores, our upcoming 200 MTPA CNT manufacturing facility targeted for commissioning in Q4FY27, is exp… | Our debt-to-equity ratio remains low despite ongoing capital expenditure. | Also, like at what stage does management gain confidence to commit capex and energy materials? | For the Carbon Black business, we started this new plant. |
| Capital allocation | I was just wondering whether Birla Tyres acquisition, is it going to be more of an advantage or it is going to be a distraction? | — | — | — | — |
| Costs | The reason is the raw material price has considerably corrected and because of that the finished price has also come down. | In addition to July 16, 2026 Himadri Speciality Chemical Limited that, we have flexibility of using other raw materials. | The impact of softer raw material prices was marginal and with a large export order scheduled to recognition in Q3, we are poised for continued growth… | Just one last question was that were you -- how are you planning on your sourcing of raw materials for the new lithium-ion phosphate? | See, cathode and anode together constitute an integral and important raw material for lithium- ion batteries. |
| Debt and cash | — | So are we planning to take any incremental debt or in FY '27, the free cash flow will cover that? | So, my first question is given the revenue decline and the inventory receivables movement, what is the current working capital cycle and how do you se… | Or do you still see it like a very significant growth driver for your cash flow generation? | — |
| Demand | And this volume constraint what we are seeing is purely because of the capacity utilization and not that we have seen any softening in demand? | With demand accelerating across these industries, we believe CNT represents a significant long-term growth opportunity for the company. | Over the past few months, we have made steady progress across multiple initiatives, from advancing our pipeline of new product developments and pilot … | And by that time, we are only targeting 100, which is absolutely nothing in terms of global demand. | And how do you see the pitch-based cathode anode demand versus silicon- based carbon, which we are developing parallelly? |
| Guidance | Okay sir, last one question, sir, any future guidance regarding EBITDA margin or revenue growth you are targeting for two to three years down the line… | So what kind of potential revenue in your INR30,000 Crores of revenue guidance that you gave in next 5 to 6 years, are you baking in that? | Over the next 3 years, we expect meaningful contributions from our speciality carbon black expansion, the ramp- up of Birla Tyres, the forward integra… | And in FY '25, we gave a guidance that in next 3 years, that is by FY '27, we'll double the PAT, effectively INR 800 crores plus. | Birla Tyres top line contribution for this year was INR 187 crores, and we expect to be around INR 3,000 crores of top line from this business in next… |
| Margin | Some color on the mix would help us appreciate this improvement in the gross profit and EBITDA per kg. | EBITDA was at INR313 Crores with a margin of 22% and July 16, 2026 Himadri Speciality Chemical Limited profit after tax was INR228 Crores, reflecting … | I am pleased to say that in Q2 FY26, we have achieved our highest ever quarterly EBITDA and PAT. | This outcome clearly reflects the effectiveness of our strategic focus on value-added products, which continues to be the key driver of profitability … | The right way to look at Himadri is not at EBITDA, but at PAT levels. |
| People | No, no. Like carbon black we are running at 99% We are at very high capacity utilization. | So do we have any kind of understanding so what can be the revenue potential from each of the segment at optimum utilization? | The volumes are at the same level basically because we are more or less at peak capacity utilizations. | Historically, how long has it taken for Himadri to ramp up speciality capacity to optimal utilization? | Can you tell us what will be the peak revenue potential from there, and how will the utilizations look like in FY '27? |
| Pricing | And sir my last question is that, with your recent foray into the refined naphthalene ball segment under the brand DurofreshTM, could you elaborate on… | In terms of pricing, we are trying to price our product as same as China. | But we select our customers on the long-term basis, reliable customers who support us in difficult times, given our loyalty in terms of delivery sched… | So all the customers will be having a pass-through model in which the pricing, up and down, will be transferred to the customer. | Just one allied question in terms of the anode material pricing, how has it changed over the last 5 years? |
| Revenue growth | How are we planning to see that we sustain the volume growth at least 8%, 10%? | Our commitment to sustainable and responsible growth was further recognized during the quarter through several prestigious awards that belongs to enti… | 1,135 crores in Q2 FY25, primarily impacted by the correction in raw material prices, increased focus towards high value-added products and deferment … | EBITDA was INR249 crores, registering a 12% year-on-year growth, while profit after tax came in at INR195 crores, reflecting a strong growth of 37% ye… | If you consider, look at Himadri’s PAT as a percentage of top line, it is 16%-plus. |