Himadri Speciality Chemical Ltd achieved a record Profit After Tax (PAT) of Rs. 100.84 Crores in Q2FY24, marking a remarkable 246.2% increase year-on-year. The company also reported increased EBITDA by 63.6%, reaching Rs. 156 Crores, despite a 5.1% decrease in revenues to Rs. 1004.52 Crores. Himadri’s focus on sustainability, zero accidents, and investment in lithium-ion battery materials research aligns with its commitment to a greener and more sustainable future, demonstrating its dedication to environmental and financial growth.
Himadri Speciality Chemical Limited, a leading specialty chemical conglomerate, has announced its quarterly results for the period ending on September 30, 2023. The company reported outstanding financial performance and achieved significant milestones.
Key Highlights for the Quarter
- Revenues decreased by 5.1% to Rs. 1004.52 Crores in Q2FY24 compared to the previous year.
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by an impressive 63.6% to Rs. 156 Crores in Q2FY24 year-on-year.
- The Profit After Tax (PAT) recorded an exceptional growth of 246.2%, reaching Rs. 100.84 Crores in Q2FY24 compared to the previous year.
- Himadri achieved its highest-ever sales volume during this quarter.
Anurag Choudhary, the CMD & CEO of Himadri Speciality Chemical Ltd, expressed his satisfaction with the results and highlighted the company’s commitment to sustainability. He emphasized the company’s robust Environment, Social, and Governance (ESG) framework and its ambitious goals to achieve net-zero emissions by 2050, with interim targets for 2025 and 2030.
Choudhary also mentioned the company’s dedication to safety, with the launch of a “zero accident vision” to maintain top-notch workplace safety. Himadri continues to focus on developing cutting-edge solutions that meet the evolving needs of its customers while minimizing its environmental impact. The company’s profitability improvements are attributed to a strategy of moving toward value-added products, and it achieved record sales volumes with increased margins per metric ton.
Himadri is making significant progress in research and development (R&D), particularly in the area of LiB (Lithium-Ion Battery) materials. The global demand for batteries is on the rise, primarily driven by efforts to combat climate change through electrification of mobility and the broader energy transition. The company aims to play a crucial role in the LiB value chain, with R&D efforts focused on both Cathode Active Material and Anode Active Material.
With ongoing investments in R&D and strategic global partnerships, Himadri aims to enhance LiB performance and safety to contribute to a greener and more sustainable world. The company remains committed to building a sustainable business with a strong product pipeline, a diverse clientele, and cutting-edge technologies.
About Himadri Speciality Chemical Ltd
Himadri Speciality Chemical Ltd is a global specialty chemical conglomerate with a strong emphasis on research and development, innovation, and sustainability. The company is a pioneer in the production of lithium-ion battery anode material in India and continually develops and innovates raw materials for the lithium-ion battery value chain. Its diverse product portfolio includes specialty carbon black, coal tar pitch, refined naphthalene, advanced materials, SNF, specialty oils, and more, catering to various industries. Himadri operates both in domestic and international markets, exporting to 49 countries across the globe.