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.

Himadri Speciality Chemical Limited , a leading player in the carbon materials and chemicals sector, has announced its financial results for the second quarter of fiscal year 2026, demonstrating robust growth and improved profitability.

Key Financial Highlights

Revenue and Profitability

Despite a slight dip in revenue, Himadri Speciality Chemical has shown significant improvement in its bottom line. The company's standalone net profit for Q2 FY26 stood at ₹186.85 crore, marking a substantial 39% increase from ₹134.44 crore in the corresponding quarter of the previous year. This growth in profitability comes despite a 5.70% year-on-year decrease in revenue from operations, which stood at ₹1,070.41 crore for the quarter.

Operational Performance

The company's EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) for Q2 FY26 reached ₹275.90 crore, up by 25.70% compared to ₹219.56 crore in Q2 FY25. This improvement in EBITDA indicates enhanced operational efficiency and cost management.

Segment Performance

Himadri Speciality Chemical operates in two primary segments:

1. Carbon Materials and Chemicals
2. Power Generation

The carbon materials and chemicals segment continued to be the major revenue driver, while the power segment contributed to the company's diversified operations.

Financial Position

As of September 30, 2025, the company's balance sheet remains strong:

• Total assets stood at ₹5,326.64 crore
• Shareholders' equity increased to ₹3,996.39 crore
• The debt-to-equity ratio remained healthy at 0.20

Corporate Actions

During the quarter, Himadri Speciality Chemical undertook several corporate actions:

• Conversion of 308,000 warrants into equity shares
• Allotment of 12,451 equity shares under the employee stock option plan
• Issuance of commercial papers worth ₹300 crore

Management Commentary

While specific management comments were not provided, the financial results reflect the company's ability to enhance profitability despite challenging market conditions. The improved bottom line suggests effective cost management and possibly a more favorable product mix.

Outlook

The company's focus on operational efficiency and strategic financial management positions it well for future growth. The robust increase in net profit, despite a slight decrease in revenue, indicates Himadri Speciality Chemical's resilience and adaptability in the dynamic chemical industry landscape.

Investors and stakeholders will likely keep a close watch on how the company leverages its strong financial position to drive future growth and navigate market challenges in the coming quarters.