Himadri Speciality Chemical Limited, a global conglomerate in the speciality chemical sector, has announced its standalone financial results for the quarter and year ended March 31, 2024. The company reported robust performance, with notable achievements across various financial parameters.
Highlights of the Quarter (Standalone Financials):
- Himadri Speciality Chemical Ltd unveiled plans for a brownfield expansion, introducing a new speciality carbon black line with a capacity of 70,000 MTPA. This expansion is estimated to increase the total speciality carbon black capacity to 130,000 MTPA, establishing it as the world’s largest speciality carbon black capacity at a single site.
- The company reported a revenue of approximately Rs. 4,185 crores for the financial year 2023-24.
- EBITDA witnessed a substantial increase of 55% to approximately Rs. 632 crores in FY24 compared to the previous fiscal year.
- Profit after Tax (PAT) surged by 97% to approximately Rs. 410 crores in FY24 compared to the previous fiscal year.
- Himadri Speciality Chemical Ltd recorded its highest-ever sales volume, EBITDA, and PAT during the fiscal year.
- The company achieved the milestone of becoming debt-free with a positive net cash balance, attributing this success to disciplined capital deployment and efficient working capital utilization.
Mr Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical Ltd, expressed his satisfaction with the company’s performance, stating, “We are delighted to announce that the Company has become debt-free with positive net cash balance, reflecting our steadfast commitment to disciplined capital deployment and efficient working capital management. This achievement, coupled with our record-breaking sales volume, EBITDA, and PAT, underscores our strategic initiatives and the dedication of our team to drive innovation and excellence in all aspects of our operations.”
Mr. Choudhary further elaborated on the company’s growth trajectory, highlighting key initiatives such as the brownfield expansion of the speciality carbon black line and ongoing research and project execution in battery materials. He emphasized the company’s focus on sustainability and its recent partnership with Invati Creations Private Limited to transform the lithium-ion battery industry.
The company’s commitment to sustainability is underscored by its recent inclusion as a direct signatory to the United Nations Global Compact (UNGC), demonstrating alignment with global sustainability principles and ethical business practices on a global scale.
In line with its commitment to delivering value to shareholders, the board has recommended a dividend of 50% to the shareholders of the Company.
Himadri Speciality Chemical Ltd, with its diversified product portfolio and global presence, continues to make significant contributions to various industries while maintaining a strong commitment to safety, sustainability, and innovation.
