Himadri Speciality Chemical Ltd
Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals.[1] It is the No.1 coal pitch manufacturer in India and is the only company to manufacture advanced carbon material in India. It is also the largest player of Naphthalene and SNF in India.[2]
- Market Cap ₹ 24,058 Cr.
- Current Price ₹ 477
- High / Low ₹ 607 / 351
- Stock P/E 35.9
- Book Value ₹ 80.9
- Dividend Yield 0.13 %
- ROCE 22.6 %
- ROE 16.8 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 30.9% CAGR over last 5 years
- Promoter holding has increased by 0.89% over last quarter.
Cons
- Working capital days have increased from 33.8 days to 67.9 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Commodities Chemicals Chemicals & Petrochemicals Carbon Black
Part of BSE 500 Nifty 500 BSE SmallCap Nifty Smallcap 100 BSE Allcap
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,362 | 1,377 | 1,150 | 1,322 | 1,971 | 2,377 | 1,804 | 1,679 | 2,791 | 4,172 | 4,185 | 4,596 | 4,432 | |
| 1,268 | 1,261 | 1,009 | 1,095 | 1,521 | 1,838 | 1,520 | 1,552 | 2,637 | 3,783 | 3,543 | 3,745 | 3,497 | |
| Operating Profit | 94 | 116 | 142 | 227 | 450 | 538 | 284 | 128 | 154 | 388 | 642 | 851 | 934 |
| OPM % | 7% | 8% | 12% | 17% | 23% | 23% | 16% | 8% | 6% | 9% | 15% | 19% | 21% |
| 21 | 15 | 11 | 8 | 8 | 14 | -123 | 14 | 7 | -2 | 43 | 51 | 91 | |
| Interest | 117 | 102 | 110 | 80 | 70 | 71 | 55 | 33 | 35 | 66 | 64 | 45 | 48 |
| Depreciation | 55 | 55 | 64 | 31 | 31 | 33 | 37 | 44 | 47 | 49 | 48 | 50 | 53 |
| Profit before tax | -56 | -26 | -21 | 123 | 356 | 449 | 70 | 64 | 79 | 272 | 573 | 808 | 924 |
| Tax % | -30% | -45% | -22% | 34% | 32% | 31% | -16% | 27% | 18% | 24% | 28% | 31% | |
| -39 | -14 | -16 | 81 | 243 | 311 | 81 | 47 | 65 | 208 | 411 | 558 | 670 | |
| EPS in Rs | -1.01 | -0.37 | -0.39 | 1.94 | 5.80 | 7.44 | 1.93 | 1.11 | 1.55 | 4.80 | 8.34 | 11.30 | 13.56 |
| Dividend Payout % | -10% | 0% | -13% | 5% | 2% | 2% | 8% | 13% | 13% | 5% | 6% | 5% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 21% |
| 3 Years: | 18% |
| TTM: | -3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 39% |
| 5 Years: | 31% |
| 3 Years: | 105% |
| TTM: | 39% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 43% |
| 5 Years: | 60% |
| 3 Years: | 69% |
| 1 Year: | -14% |
| Return on Equity | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 12% |
| 3 Years: | 15% |
| Last Year: | 17% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 39 | 39 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 43 | 49 | 49 | 49 |
| Reserves | 796 | 789 | 879 | 1,036 | 1,414 | 1,639 | 1,610 | 1,666 | 1,762 | 2,172 | 2,932 | 3,598 | 3,947 |
| 1,326 | 1,089 | 858 | 754 | 660 | 476 | 505 | 724 | 582 | 838 | 602 | 310 | 802 | |
| 296 | 296 | 255 | 264 | 296 | 633 | 300 | 266 | 998 | 553 | 775 | 565 | 529 | |
| Total Liabilities | 2,456 | 2,212 | 2,034 | 2,096 | 2,413 | 2,790 | 2,457 | 2,698 | 3,383 | 3,607 | 4,358 | 4,522 | 5,327 |
| 1,139 | 1,148 | 1,101 | 1,103 | 1,099 | 1,097 | 1,389 | 1,380 | 1,480 | 1,452 | 1,475 | 1,465 | 1,478 | |
| CWIP | 56 | 10 | 27 | 9 | 18 | 126 | 158 | 160 | 77 | 94 | 67 | 176 | 338 |
| Investments | 248 | 103 | 133 | 167 | 353 | 232 | 47 | 66 | 113 | 132 | 477 | 628 | 915 |
| 1,013 | 951 | 773 | 817 | 943 | 1,336 | 863 | 1,092 | 1,713 | 1,929 | 2,339 | 2,253 | 2,595 | |
| Total Assets | 2,456 | 2,212 | 2,034 | 2,096 | 2,413 | 2,790 | 2,457 | 2,698 | 3,383 | 3,607 | 4,358 | 4,522 | 5,327 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 144 | 212 | 278 | 205 | 247 | 472 | 282 | -39 | 330 | 53 | 400 | 455 | |
| -93 | 130 | -2 | 11 | -61 | -222 | -215 | -113 | -28 | -397 | -405 | -242 | |
| -111 | -346 | -270 | -223 | -180 | -257 | -40 | 166 | -181 | 378 | 8 | -270 | |
| Net Cash Flow | -60 | -5 | 6 | -7 | 6 | -8 | 28 | 13 | 121 | 35 | 3 | -56 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 95 | 84 | 63 | 60 | 50 | 56 | 61 | 100 | 66 | 44 | 57 | 50 |
| Inventory Days | 131 | 122 | 138 | 161 | 114 | 124 | 97 | 98 | 125 | 61 | 85 | 68 |
| Days Payable | 30 | 31 | 39 | 61 | 33 | 95 | 62 | 44 | 126 | 38 | 66 | 27 |
| Cash Conversion Cycle | 196 | 175 | 163 | 159 | 132 | 86 | 96 | 155 | 66 | 67 | 77 | 91 |
| Working Capital Days | -2 | 14 | -6 | 30 | 33 | 44 | 10 | 15 | -1 | 1 | 32 | 68 |
| ROCE % | 2% | 3% | 5% | 11% | 22% | 24% | 12% | 4% | 5% | 13% | 19% | 23% |
Documents
Announcements
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Monthly Report On Re-Lodgement Of Transfer Requests Of Physical Shares For The Month Of November 2025.
12 Dec - Monthly November 2025 report on re-lodgement of physical share transfer requests submitted by RTA per SEBI circular.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
12 Dec - The officials of Himadri Speciality Chemical Limited will be interacting with Analysts/ Investors as per details below: Date: 17 December 2025 Type: Plant Visit
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Dec - The officials of Himadri Speciality Chemical Limited ('Company') will be interacting with Analysts/Investors on 12 December 2025.
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Intimation Regarding Issuance And Allotment Of Commercial Paper Amounting To Rs. 100 Crore
4 Dec - Issued Rs.100 Crore commercial paper (90 days) on 04-12-2025; 6.30% p.a.; maturity 04-03-2026.
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Intimation of Repayment of Commercial Paper (CP)
3 Dec - Repayment of Rs.100 Crore Commercial Paper redeemed on 03-Dec-2025 (ISIN INE019C14631).
Annual reports
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Financial Year 2025
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Concalls
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Product Portfolio
The company is a key player across various product segments, including battery materials, coal tar pitch, carbon black, naphthalene, refined naphthalene, SNF, and specialty oils. It serves various industries, such as lithium-ion batteries, paints, plastics, tires, aluminum, graphite electrodes, agrochemicals, defense, and construction chemicals. [1]