Himadri Speciality Chemical Limited has successfully raised ₹237.41 crore through the conversion of warrants into equity shares, marking a significant corporate action for the company. The move has resulted in an increase in the company's paid-up share capital and brought in substantial funds.

Key Details of the Warrant Conversion

Allotment Breakdown

Impact on Share Capital

Following this allotment, Himadri Specialty Chemical's paid-up share capital has increased to ₹50.45 crore, comprising 50,44,94,950 equity shares. This represents a significant expansion of the company's equity base.

Background of the Warrant Issue

The warrants were originally allotted on May 14, 2024, at an issue price of ₹316 each to 28 allottees. The current conversion represents a partial exercise of these warrants, with three warrant holders opting to convert their holdings into equity shares.

Equity Structure and Rights

The newly allotted equity shares will rank pari-passu with the existing equity shares of the company, ensuring equal rights for all shareholders. This move aligns with the company's capital restructuring efforts and potentially strengthens its financial position.

The allotment of these shares through warrant conversion demonstrates investor confidence in Himadri Specialty Chemical and provides the company with additional capital for its operations and growth initiatives.

Himadri Speciality Chemical Limited has reported robust financial results for the second quarter of fiscal year 2026, while making significant strides in its strategic expansion into battery materials.

Financial Highlights

For Q2 FY2026, Himadri Speciality posted:

• Revenue from operations of Rs. 1,070.41 crore, compared to Rs. 1,135.21 crore in Q2 FY2025
• EBITDA of Rs. 242.71 crore, up 20.54% year-on-year
• Net profit of Rs. 186.85 crore, a 38.98% increase from the previous year
• Diluted EPS of Rs. 3.76, versus Rs. 2.70 in Q2 FY2025

The company's performance was driven by a focus on high value-added products and operational efficiencies, despite a slight decline in revenue due to reduced raw material prices.

Strategic Developments

Himadri Speciality is advancing its growth strategy with a focus on battery materials:

• Plans to produce 200,000 MTPA of Lithium Iron Phosphate (LFP) Cathode Active Material, catering to 100 GWh of Li-ion Battery capacity over the next 5-6 years
• Developing a 150,000 TPA anode project
• First commercial plant for LFP Cathode Active Material globally ex-China, targeting both domestic and international markets

The company is also expanding its speciality carbon black capacity:

• Increasing total capacity to 130,000 MTPA, making it the world's largest speciality carbon black capacity at a single site
• Brownfield expansion of a new 70,000 MTPA line, scheduled to be operational by end of Q3 FY2026

Battery Materials Innovation

Himadri is leveraging its strategic investments to accelerate battery technology development:

• Exclusive technology licensing partnership with Sicona for silicon-carbon anode technology in India
• Sicona has demonstrated superior performance metrics with its Gen3 SiCx® material, offering over 20% increase in energy density compared to conventional graphite-only cells

Sustainability Initiatives

The company has reinforced its commitment to sustainability:

• Achieved ISCC PLUS certification for its Mahistikry plant
• Targeting net-zero emissions by 2050
• Received Platinum rating from EcoVadis, placing it in the top 1% globally

Management Commentary

Anurag Choudhary, CMD & CEO, stated: "We are pleased to report our highest-ever quarterly EBITDA and PAT, underscoring the strength, resilience, and sustainability of our business model. Our planned 200,000 MTPA LFP cathode material facility will be a cornerstone of India's clean energy ambitions, aimed at delivering high-performance, cost-effective battery materials at scale."

Himadri Speciality Chemical Limited continues to position itself as a key player in the evolving battery materials market, while maintaining strong performance in its core speciality chemicals business.