Himadri Speciality Chemical (500184) Q3 24/25 earnings summary

Executive summary

• Achieved record sales volumes, EBITDA, and PAT in Q3FY25 and 9MFY25, with strong year-over-year growth across all key metrics.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2024 were approved and released.

• Maintained a debt-free status with a net positive cash balance as of December 2024.

• Board approved a Rs. 120 crore capex for a new facility to produce high-value specialty products, funded through internal accruals, with operations expected in 18 months.

• Incorporation of a new Indian subsidiary with Invati Creations and a wholly owned US subsidiary was approved.

Financial highlights

• Q3FY25 sales volumes rose 11% YoY to 137,447 MT; EBITDA up 32% YoY to Rs. 222 Cr; PAT up 32% YoY to Rs. 142 Cr.

• Standalone net revenue for Q3FY25 grew 7.5% YoY to Rs. 1,131.81 Cr; 9MFY25 revenue up 15.3% YoY to Rs. 3,466.79 Cr.

• Consolidated net revenue for Q3FY25 up 8.4% YoY to Rs. 1,140.66 Cr; 9MFY25 up 15.6% YoY to Rs. 3,477.99 Cr.

• Standalone net profit for Q3FY25 was Rs. 134.44 Cr, up from Rs. 107.89 Cr in Q3 FY24; nine-month net profit was Rs. 399.83 Cr, up from Rs. 296.39 Cr YoY.

• Consolidated net profit for Q3FY25 was Rs. 135.70 Cr, up from Rs. 108.78 Cr in Q3 FY24; nine-month consolidated net profit was Rs. 399.63 Cr, up from Rs. 295.50 Cr YoY.

Outlook and guidance

• Strong outlook supported by new capex for high-value specialty products and expansion into battery materials.

• The new specialty products facility is expected to reduce import dependency and support the Atmanirbhar Bharat initiative.

• Scheduled operationalization of LFP cathode active material plant by Q3FY27 and specialty carbon black expansion by Q3FY26.