Himadri Speciality Chemical (500184) Q2 24/25 earnings summary

Executive summary

• Achieved record sales volumes, EBITDA, and PAT in H1FY25, with strong year-over-year growth across all key metrics.

• Unaudited standalone and consolidated financial results for the quarter and six months ended 30 September 2024 were approved and reviewed by the Board and auditors.

• Maintains a debt-free status with a net positive cash balance as of September 2024.

• Strategic expansion into battery materials, specialty carbon black, and tyre manufacturing, supported by acquisitions and capex.

• Recognized for sustainability and ESG initiatives, including EcoVadis Silver Medal and UNGC signatory status.

Financial highlights

• Sales volumes rose 32% year-over-year to 278,232 MT in H1FY25.

• EBITDA increased 36% year-over-year to Rs. 389 crore in H1FY25.

• PAT grew 37% year-over-year to Rs. 258 crore in H1FY25.

• Net revenue from operations up 19.4% year-over-year to Rs. 2,335 crore in H1FY25.

• Standalone revenue from operations for Q2 FY25 was ₹1,135.21 crore, up from ₹1,004.52 crore in Q2 FY24; consolidated revenue was ₹1,136.92 crore.

Outlook and guidance

• ICRA rating outlook revised upward, reflecting improved financial strength.

• Capex for LFP cathode active material and specialty carbon black expansion progressing as planned.

• First commercial LFP cathode plant in India scheduled to be operational by Q3FY27.

• Management highlighted continued focus on operational efficiency and growth in both core and new business segments.