Himadri Speciality Chemical Ltd share Price Today

Speciality Chemicals company Himadri Speciality Chemical announced FY24 results:

Financial Highlights: 

• Sales Volume: Achieved a sales volume of 4,75,582 metric tons (MT) in FY24, an 18% increase from the previous fiscal year.
• Revenue: Reported stable revenues of Rs 4,185 crores, consistent with the last year's figures.
• EBITDA: EBITDA soared by 55% to Rs 632 crores.
• PAT: Posted a substantial 97% surge in Profit After Tax (PAT) amounting to Rs 410 crores.

Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical said, " We are delighted to announce that the Company has become debt-free with positive net cash balance as a result of our relentless focus on disciplined capital deployment and working capital utilization. We also take pride in announcing that the Company has achieved highest ever Sales, EBITDA, and PAT. This performance is a direct result of our strategic initiatives and our team's tireless efforts to drive innovation and excellence in everything we do.

We are in for very exciting times with strong growth coming from our existing businesses as well as significant progress being made on new businesses. Our volumes have increased consistently with all round growth in products and launch of new product line of speciality products. Our vision to focus on speciality and high value added products over years has led to consistent and sustainable increase in profitability. Coupled with our initiatives on operational efficiency, yield improvements and competitive value proposition to customers, we have laid down a strong foundation for sustainable performance. To support the growth and increasing market demand, we are announcing a brownfield expansion of a new speciality carbon black line of 70,000 MTPA (increasing the total speciality carbon black capacity to 130,000 MTPA making it world’s largest speciality carbon black capacity at single site) at an estimated capex of Rs 220 croreswhich is scheduled to be operational within 18months.

Our research and project execution of battery materials continue as per plan. We have a strong pipeline of innovative products in development with our research team relentlessly pursuing our vision of playing a critical role in LiB value chain. Building on this momentum, we have acquired a 40% stake in Invati Creations Private Limited (Invati). Our partnership is built on a shared vision to transform the Lithium-ion battery industry by significantly enhancing its storage efficiency, charging speed, and battery lifespan. Together, we aim to make a substantial impact on meeting the world's growing energy demands."

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