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Himadri Speciality Chemical Q2 FY27 Share Price & Earnings Call Analysis

₹509.20-5.04% today
Market cap
₹25,688 Cr
P/E
30.04
ROE
17.77%
PEG
0.66
Price to sales
4.59
Debt to equity
0.23
52W high / low
₹801 / ₹422
Sales growth (5Y)
22.65%
EBITDA margin
19.43%
Net profit margin
16.15%
Promoter holding
52.49%
Sales (last year)
₹5,595 Cr

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]

Guidance scorecard · Q2 FY27 call

What Himadri Speciality Chemical Ltd's management guided
and where it ranks in Chemicals & Petrochemicals

#15of 71 in
Chemicals & Petrochemicals
Revenue20–40%MarginsFlatCapexPlannedFundraisingNone plannedOrder bookWhat management said

RevenueQ2 FY27 call

20–40%
  • Himadri expects strong volume growth, with quarterly volume growth of 14,000 MT recently reported.
  • Expansion of capacity includes a 40,000 TPA plant deferred to FY28 end to ensure readiness and approvals before commercial operation.
  • New product lines like anthraquinone and carbazole are planned, with capacity startup in phases from Q4 FY27 and full operations expected by Q1 FY28.
  • LFP (Lithium Iron Phosphate) cathode material plant of 2,000 TPA is commencing Q3 FY27 with customer trials and ramp-up expected from FY29 onwards (50%+ utilization in year 1, 90%+ from year 2).
  • Carbon Nanotube production to start by Q4 FY27, adding to revenue streams.

2 more points from Himadri Speciality Chemical Ltd's call on revenue

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Full Q2 FY27 analysis

MarginsQ2 FY27 call

Flat

See what Himadri Speciality Chemical Ltd said on margins — free account, 30 seconds.

Full Q2 FY27 analysis

CapexQ2 FY27 call

Planned
  • Total capex planned: INR 1,500 crores over 2 years (FY27 and FY28).
  • INR 250 crores spent till Q2 FY27 (including Birla Tyres and other investments).
  • Expected capex spend in FY27: INR 800-900 crores.
  • Funding plan: Entirely through internal accruals, no significant debt planned.

2 more points from Himadri Speciality Chemical Ltd's call on capex

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Full Q2 FY27 analysis

FundraisingQ2 FY27 call

None planned

See what Himadri Speciality Chemical Ltd said on fundraising — free account, 30 seconds.

Full Q2 FY27 analysis

Order bookQ2 FY27 call

Ask what Himadri Speciality Chemical Ltd said on the order book →

Full Q2 FY27 analysis
Full Chemicals & Petrochemicals ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Himadri Speciality Chemical Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Chemicals & Petrochemicals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹263 Cr3.4
240%+Flat₹4,375 Cr83.7
340%+Flat₹3,259 Cr4.0
440%+Flat₹145 Cr15.9
520–40%Up 2%+₹1.81L Cr90.9
620–40%Up 2%+₹48,366 Cr78.3

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Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals ranking

Financials of Himadri Speciality Chemical Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Himadri Speciality Chemical Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +44.79%50.29%50.20%50.78%51.56%51.61%51.60%51.57%52.49%52.49%52.49%52.49%
FIIs +5.39%5.13%5.16%5.24%5.15%5.38%5.20%5.74%5.75%5.98%6.80%7.33%
DIIs +0.63%2.12%2.27%3.60%4.24%4.62%4.83%3.21%3.09%3.22%3.33%2.85%
Public +49.18%42.47%42.36%40.38%39.05%38.38%38.36%39.46%38.66%38.32%37.38%37.34%
No. of Shareholders4,38,4144,36,7004,35,6284,47,6664,54,9434,45,7684,48,3394,53,8104,29,3914,08,4084,14,1414,25,426

Financials of Himadri Speciality Chemical Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,0051,0531,1771,2001,1371,1411,1351,1181,0711,1841,2881,4321,691
Expenses +8478799971,0089299209018738389411,0461,1441,376
Operating Profit158174180192208221233245233243242288315
OPM %16%17%15%16%18%19%21%22%22%20%19%20%19%
Other Income +10101213141214273647625642
Interest1621141311129161516172228
Depreciation12131313131514151718192122
Profit before tax139150166179197206224241237255268301307
Tax %28%28%30%31%31%31%31%26%26%25%23%24%25%
Net Profit +101109115123136141155179176192208228231
EPS in Rs2.292.472.342.482.742.883.153.683.573.813.984.554.60

Financials of Himadri Speciality Chemical Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1,4371,1821,3412,0222,4221,8061,6792,7914,1724,1854,6134,6615,595
Expenses +1,3131,0361,1071,5691,8631,5251,5492,6353,7733,5403,7583,6994,507
Operating Profit1241462334525602801311563996458549621,087
OPM %9%12%17%22%23%16%8%6%10%15%19%21%19%
Other Income +1396128814-17-24352171207
Interest1031118270715533366664456484
Depreciation59673333343947505150556879
Profit before tax-24-2312536146219465532805748061,0011,131
Tax %-49%-19%34%31%30%-6%27%27%23%28%31%25%
Net Profit +-13-19822483242054739216411555755859
EPS in Rs-0.32-0.441.985.917.754.911.130.984.998.3411.2514.8916.94
Dividend Payout %0%-11%5%2%2%3%13%20%5%6%5%5%

Financials of Himadri Speciality Chemical Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital39424242424242424349495050
Reserves7508379881,3731,5901,6921,7511,8262,2372,9963,6724,6565,085
Borrowings +1,1248877746604765057295878426053137701,160
Other Liabilities +329296308341680323269999555798621830682
Total Liabilities2,2422,0622,1122,4162,7882,5622,7913,4543,6784,4494,6566,3066,977
Fixed Assets +1,2281,1801,1741,1781,1701,4751,4681,5461,5151,5341,6051,9422,016
CWIP14311322133158160779467185372370
Investments23538727317947661131324785821,0601,250
Other Assets +9777988389431,3058821,0981,7181,9382,3712,2832,9333,341
Total Assets2,2422,0622,1122,4162,7882,5622,7913,4543,6784,4494,6566,3066,977

Financials of Himadri Speciality Chemical Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +212296205258476283-4033154405447382
Cash from Investing Activity +128-610-50-224-214-114-28-397-405-235-963
Cash from Financing Activity +-348-278-233-200-257-41165-1823777-271590
Net Cash Flow-712-188-62811121347-6010
Free Cash Flow18428120119527236-76308-22352276-63
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit169%203%98%75%102%113%-20%223%25%77%69%64%

Financials of Himadri Speciality Chemical Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days8263604955611006644575055
Inventory Days12213816411212412110012561856896
Days Payable36507439100684512739692847
Cash Conversion Cycle1681511501227911315565667390103
Working Capital Days4-221929401015-11326957
ROCE %3%5%11%22%25%11%4%5%13%19%22%22%

Guidance history

How Himadri Speciality Chemical Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY27 call →20–40%FlatPlannedNone planned—
Q1 FY27 call →20–40%FlatPlannedNone planned—
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →20–40%FlatPlannedNone plannedRising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

19out of 100

Momentum score · price trend

19 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+4.8%65%
Last 6 months−16.2%28%
Last 3 months−32.2%4%

The price is 36.4% below its all-time high of ₹800.9 (21 Jul 2026). Stocks more than 20% below their peak have their score halved, so 38 became 19.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Himadri Speciality Chemical Ltd: 0.4 × 65 + 0.4 × 28 + 0.2 × 4 = 38, halved to 19 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Himadri Speciality Chemical Ltd's management said in earlier quarters

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