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Himadri Special

Q3 FY26Chemicals & Petrochemicals

Himadri Special Q3 FY26 earnings call: Revenue & Margins

Q3 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹654
Market cap₹39.4K Cr
P/E49.3
Updated23 Aug 2026
Read4 min read

The short version

Himadri aims to double PAT from FY '25 to FY '28, indicating strong profit and revenue growth. Himadri aims to double its PAT from FY '25 levels (~INR 558 crores) by FY '28, effectively reaching over INR 1,100 crores in 3 years.

From Himadri Special's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Himadri aims to double PAT from FY '25 to FY '28, indicating strong profit and revenue growth.
  • Sales volumes for nine months FY '26 stood at 428,572 metric tons, a 3% increase YoY.
  • EBITDA per ton improved by 15% driven by focus on high value-added products.
  • Cathode active material capacity ramp-up expected mainly from FY '29 with full utilization and over 2x asset turns.
  • Battery expansion (LFP) Phase 1 capex INR1,125 crores with commercial production expected in FY '29.

2 more points management made on revenue & sales performance

Profitability & Margins

See what Himadri Special said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Himadri is planning a major capex of INR 1,125 crores for Phase 1 lithium-ion phosphate (LFP) cathode active material capacity of 40,000 MT per annum, expected by Q3 FY '27, with full utilization from FY '29.
  • The company targets building a total of 200,000 MT LFP capacity in phases, catering to around 100 GWh battery energy demand by FY '30.
  • Capex for anode material development is underway with investments in synthetic, natural hybrid, and silicon carbon-based technologies (specific capex numbers were queried but not disclosed).
  • Himadri has made strategic investments and collaborations with Sicona (Australia), International Battery Company (IBC, California & South Korea), and Invati to strengthen R&D and innovation pipeline.

2 more points management made on capital expenditure plans

Top-ranked in Chemicals & Petrochemicals

Ranked on what management guided this quarter

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1Shiv Texchem
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3
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5
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Himadri Special said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript does not provide explicit details on current or expected order book or pending orders for Himadri Speciality Chemical Ltd. However, some relevant points that may indirectly reflect order expectations include: - The lithium-ion battery raw material market is expected to grow significantly due to the projected global lithium-ion battery cell capacity increase from 2,500 GWh to around 7,500-8,000 GWh by FY 2030. - Himadri is actively engaged in R&D partnerships and manufacturing collaborations, indicating ongoing demand development (e.g., collaboration with Sicona in Australia and International Battery Company in California and South Korea). - The lithium-ion phosphate plant is expected to be fully operational by FY '29 with ramp-up beginning post FY '28, suggesting anticipated orders in this segment.

2 more points management made on order book & pipeline

Himadri Special — Quarterly revenue & net profit

Revenue Net profit
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹1.3K Cr, net profit ₹208 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Himadri Special Q3 FY26 results?

Himadri aims to double PAT from FY '25 to FY '28, indicating strong profit and revenue growth. Himadri aims to double its PAT from FY '25 levels (~INR 558 crores) by FY '28, effectively reaching over INR 1,100 crores in 3 years.

What is Himadri Special share price analysis?

Himadri Special currently shows a neutral. The stock trades at a P/E of 49.3 with a market cap of ₹39,410 Cr. Investors should review the full earnings analysis for detailed insights.

Is Himadri Special planning capital expenditure?

Himadri is planning a major capex of INR 1,125 crores for Phase 1 lithium-ion phosphate (LFP) cathode active material capacity of 40,000 MT per annum, expected by Q3 FY '27, with full utilization from FY '29.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.