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Himadri Speciality Chemical (500184) investor relations material
Himadri Speciality Chemical Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Trial production commenced at the Specialty Carbon Black Expansion Project, making it the world's largest single-site plant at 130,000 MTPA, and a new Mangalore port terminal was commissioned for Coal Tar Pitch exports to the Middle East.
Achieved EcoVadis Platinum Medal for ESG for the second consecutive year and certified as a Great Place to Work, reflecting strong sustainability and workplace culture.
Robust financial performance with PAT for nine months FY2026 reaching ₹564 crore, up 41% YoY, surpassing FY25 full-year PAT, driven by operational discipline and value-added products.
Strategic focus on innovation, R&D, and expansion into battery materials, including LFP cathode and anode projects, to support long-term growth.
Unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025 were approved by the Board on 16 January 2026.
Financial highlights
Q3 FY2026 standalone revenue: ₹1,133 crore; EBITDA: ₹249 crore (12% YoY growth); PAT: ₹195 crore (37% YoY growth).
Nine months FY2026 standalone revenue: ₹3,304 crore; EBITDA: ₹726 crore (19% YoY growth); PAT: ₹564 crore (41% YoY growth).
Q3 FY2026 consolidated revenue: ₹1,184 crore; EBITDA: ₹253 crore (12% YoY growth); PAT: ₹192 crore (36% YoY growth).
Nine months FY2026 consolidated revenue: ₹3,373 crore; EBITDA: ₹726 crore (18% YoY growth); PAT: ₹548 crore (37% YoY growth).
Sales volume for nine months FY2026: 428,572 MT (3% YoY growth); EBITDA/MT: ₹16,934 (15% YoY improvement).
Outlook and guidance
PAT is expected to double from FY2025 to FY2028, maintaining the previous guidance of doubling in three years.
Phase one of LFP cathode plant (40,000 MTPA) on track for Q3 FY2027; full-year operation expected by FY2029.
Specialty Carbon Black capacity utilization expected at 85% next year, reaching 95-100% in subsequent years.
Coal tar pitch and specialty black ramp-ups to be visible from next financial year and Q1 FY2027, respectively.
Forward integration into anthraquinone and carbazole to be completed by Q2 FY2027.
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Q2 FY26 recurring revenue grew 8% and adjusted EPS guidance was raised to 9-12%.
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