Himadri Speciality Chemical Limited — PPTs, 17-10-2025: Investor Presentation

Himadri Speciality Chemical (HSCL) reports robust financial results for the quarter and half-year.

**Business Performance:** For H1 FY26, revenue reached Rs 2,171 Cr (-7% YoY), though raw material price drops impacted the top line. The company achieved its highest-ever half-yearly EBITDA of Rs 477 Cr (+23% YoY) and PAT of Rs 369 Cr (+43% YoY), driven by a high-value product mix. Q2 FY26 also saw record EBITDA (Rs 243 Cr) and PAT (Rs 187 Cr).

**Growth Drivers & Strategy:** HSCL's 2028 roadmap emphasizes high-value growth and diversification. Initiatives include boosting Speciality Carbon Black capacity to 1,30,000 MTPA by Q3 FY26, starting Birla Tyres operations in Q1 FY26, and launching Durofresh™ naphthalene balls. Forward integration into Anthraquinone & Carbazole by Q2 FY27 and establishing a 40,000 MTPA LFP Cathode Active Material plant by Q3 FY27 (first commercial outside China) are also key.

**Recent Developments:** Recent updates feature ISCC PLUS certification, initial Liquid Coal Tar Pitch exports, and strategic investments in Sicona, Invati, and IBC, strengthening its Li-ion battery materials segment.

**Key Financial Metrics (H1 FY26 Standalone):** Revenue Rs 2,171 Cr (-7% YoY), EBITDA Rs 477 Cr (+22.5% YoY), PAT Rs 369 Cr (+43.3% YoY).

**Management Commentary/Outlook:** Management foresees significant sustainable profitability growth, leveraging India's emerging role in global battery supply chains, a secure LFP supply chain, and LiB recycling.