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 ₹ 24,208 Cr.
- Current Price ₹ 490
- High / Low ₹ 689 / 351
- Stock P/E 43.6
- Book Value ₹ 75.4
- Dividend Yield 0.12 %
- ROCE 22.0 %
- ROE 16.4 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 22.0% CAGR over last 5 years
Cons
* 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 Nifty Alpha 50
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,395 | 1,437 | 1,182 | 1,341 | 2,022 | 2,422 | 1,806 | 1,679 | 2,791 | 4,172 | 4,185 | 4,613 | |
| 1,307 | 1,313 | 1,036 | 1,107 | 1,569 | 1,863 | 1,525 | 1,549 | 2,635 | 3,773 | 3,540 | 3,758 | |
| Operating Profit | 88 | 124 | 146 | 233 | 452 | 560 | 280 | 131 | 156 | 399 | 645 | 854 |
| OPM % | 6% | 9% | 12% | 17% | 22% | 23% | 16% | 8% | 6% | 10% | 15% | 19% |
| 13 | 13 | 9 | 6 | 12 | 8 | 8 | 14 | -17 | -2 | 43 | 52 | |
| Interest | 118 | 103 | 111 | 82 | 70 | 71 | 55 | 33 | 36 | 66 | 64 | 45 |
| Depreciation | 58 | 59 | 67 | 33 | 33 | 34 | 39 | 47 | 50 | 51 | 50 | 55 |
| Profit before tax | -75 | -24 | -23 | 125 | 361 | 462 | 194 | 65 | 53 | 280 | 574 | 806 |
| Tax % | -22% | -49% | -19% | 34% | 31% | 30% | -6% | 27% | 27% | 23% | 28% | 31% |
| -58 | -13 | -19 | 82 | 248 | 324 | 205 | 47 | 39 | 216 | 411 | 555 | |
| EPS in Rs | -1.48 | -0.32 | -0.44 | 1.98 | 5.91 | 7.75 | 4.91 | 1.13 | 0.98 | 4.99 | 8.34 | 11.25 |
| Dividend Payout % | -7% | 0% | -11% | 5% | 2% | 2% | 3% | 13% | 20% | 5% | 6% | 5% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 21% |
| 3 Years: | 18% |
| TTM: | 10% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 40% |
| 5 Years: | 22% |
| 3 Years: | 113% |
| TTM: | 35% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 42% |
| 5 Years: | 61% |
| 3 Years: | 92% |
| 1 Year: | 39% |
| Return on Equity | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 11% |
| 3 Years: | 15% |
| Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 39 | 39 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 43 | 49 | 49 |
| Reserves | 757 | 750 | 837 | 988 | 1,373 | 1,590 | 1,692 | 1,751 | 1,826 | 2,237 | 2,996 | 3,672 |
| 1,362 | 1,124 | 887 | 774 | 660 | 476 | 505 | 729 | 587 | 842 | 605 | 313 | |
| 339 | 329 | 296 | 308 | 341 | 680 | 323 | 269 | 999 | 555 | 798 | 621 | |
| Total Liabilities | 2,497 | 2,242 | 2,062 | 2,112 | 2,416 | 2,788 | 2,562 | 2,791 | 3,454 | 3,678 | 4,449 | 4,656 |
| 1,221 | 1,228 | 1,180 | 1,174 | 1,178 | 1,170 | 1,475 | 1,468 | 1,546 | 1,515 | 1,534 | 1,605 | |
| CWIP | 59 | 14 | 31 | 13 | 22 | 133 | 158 | 160 | 77 | 94 | 67 | 185 |
| Investments | 168 | 23 | 53 | 87 | 273 | 179 | 47 | 66 | 113 | 132 | 478 | 582 |
| 1,048 | 977 | 798 | 838 | 943 | 1,305 | 882 | 1,098 | 1,718 | 1,938 | 2,371 | 2,283 | |
| Total Assets | 2,497 | 2,242 | 2,062 | 2,112 | 2,416 | 2,788 | 2,562 | 2,791 | 3,454 | 3,678 | 4,449 | 4,656 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 149 | 212 | 296 | 205 | 258 | 476 | 283 | -40 | 331 | 54 | 405 | 447 | |
| -99 | 128 | -6 | 10 | -50 | -224 | -214 | -114 | -28 | -397 | -405 | -235 | |
| -109 | -348 | -278 | -233 | -200 | -257 | -41 | 165 | -182 | 377 | 7 | -271 | |
| Net Cash Flow | -58 | -7 | 12 | -18 | 8 | -6 | 28 | 11 | 121 | 34 | 7 | -60 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 92 | 82 | 63 | 60 | 49 | 55 | 61 | 100 | 66 | 44 | 57 | 50 |
| Inventory Days | 134 | 122 | 138 | 164 | 112 | 124 | 121 | 100 | 125 | 61 | 85 | 68 |
| Days Payable | 36 | 36 | 50 | 74 | 39 | 100 | 68 | 45 | 127 | 39 | 69 | 28 |
| Cash Conversion Cycle | 191 | 168 | 151 | 150 | 122 | 79 | 113 | 155 | 65 | 66 | 73 | 90 |
| Working Capital Days | 145 | 138 | 105 | 117 | 95 | 76 | 73 | 153 | 63 | 70 | 83 | 93 |
| ROCE % | 2% | 3% | 5% | 11% | 22% | 25% | 11% | 4% | 5% | 13% | 19% | 22% |
Documents
Announcements
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Amended Code Of Practice And Procedure For Fair Disclosure Of Unpublished Price Sensitive Information.
7 Jun - Himadri amends Code for Fair Disclosure of UPSI effective 10 June 2025 per SEBI regulations.
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Issuance And Allotment Of Commercial Paper Amounting To Rs. 100 Crores
30 May - Issued Rs.100 Cr commercial paper at 6.75% for 90 days, listed on BSE.
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Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
29 May - Commercial production commenced at Balasore tyre facility from 29 May 2025 post-acquisition.
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Communication To Shareholders - Intimation On Tax Deduction On Dividend
27 May - Himadri informs shareholders about TDS on FY25 dividend of Re 0.60/share and related documentation.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
22 May - Copies of Newspaper advertisement regarding completion of dispatch of the Notice of the 37th AGM and Annual Report of the Company for the Financial Year …
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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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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May 2025Transcript PPT REC
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Jan 2025TranscriptNotesPPT
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Nov 2016TranscriptNotesPPT
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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]