Himadri Speciality Chemical Limited has delivered impressive financial performance for the third quarter and nine months ended December 31, 2025, showcasing strong operational efficiency and growth momentum across its business segments.

Financial Performance Highlights

The company's standalone financial results demonstrate robust growth across key metrics. Revenue from operations for Q3FY26 reached ₹1,132.97 crores, maintaining steady performance compared to ₹1,131.81 crores in the corresponding quarter of the previous year.

Nine-Month Performance Shows Strong Growth

The nine-month performance reveals the company's sustained growth trajectory. Total income for the nine months ended December 31, 2025, reached ₹3,418.19 crores compared to ₹3,504.32 crores in the previous year.

Segment-wise Performance Analysis

The company operates through two primary business segments: carbon materials and chemicals, and power generation. The carbon materials and chemicals segment contributed ₹1,128.87 crores to revenue in Q3FY26, while the power segment generated ₹21.52 crores.

Key Corporate Developments

During Q3FY26, the company successfully completed the conversion of warrants into equity shares. The company converted 10,349,000 warrants at ₹237 per warrant, increasing the paid-up equity share capital from 494,169,950 shares to 504,518,950 shares of face value ₹1 each.

The company also commenced trial production of its specialty carbon black expansion project at the Mahistikry Plant in December 2025. Commercial production is tentatively scheduled to begin by February 2026, which is expected to further strengthen the company's market position.

Financial Position and Ratios

The company maintains a strong financial position with improved key ratios. The debt-equity ratio stands at 0.18 times as of December 31, 2025, compared to 0.15 times in the previous year. The current ratio improved to 2.43 times, indicating strong liquidity position.

The company also issued commercial papers worth ₹300 crores during the quarter, with ₹100 crores due for redemption on March 4, 2026, and ₹200 crores due on March 26, 2026, both rated A1+ by ICRA.

Himadri Speciality Chemical has announced an additional investment in Sicona Battery Technologies through the subscription of convertible notes. This strategic move marks the company's continued expansion into the battery technology sector.

Investment Details

The chemical manufacturer has opted to increase its stake in Sicona Battery Technologies by subscribing to convertible notes, demonstrating its commitment to the battery technology space. This investment approach allows Himadri Speciality Chemical to participate in Sicona's growth while maintaining flexibility in its investment structure.

Strategic Implications

This investment represents Himadri Speciality Chemical's ongoing strategy to diversify its business portfolio beyond traditional chemical manufacturing. The company's focus on battery technologies aligns with the growing demand for energy storage solutions in various industries.

The convertible notes structure provides Himadri Speciality Chemical with the option to convert its investment into equity at a later date, offering potential upside participation in Sicona Battery Technologies' future growth.