19th July 2023, Kolkata: Himadri Speciality Chemical Limited reported results for the quarter ended 30th June 2023.
Highlights of Standalone Financials Q1FY24:
- Revenues decreased by 9.1% to Rs. 951 Crs in Q1FY24 from Rs. 1047 Crs in Q1FY23
- EBITDA increased by 54% to Rs. 131 Crs in Q1FY24 from Rs. 85 Crs in Q1FY23
- PAT increased by 125.2% to Rs. 88 Crs in Q1FY24 from Rs. 39 Crs in Q1FY23
- Net Debt to Equity at 0.47x
- ICRA Rating revised to Positive from Stable
Highlights of Standalone Financials:
| In Rs.crores | Q1FY24 | Q4FY23 | Q1FY23 | Y-o-Y change |
| Revenue | 951 | 1029 | 1047 | (9.1%) |
| EBITDA | 131 | 122 | 85 | 54% |
| PAT | 88 | 77 | 39 | 125.2% |
Commenting on the results and performance, Mr. Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical Ltd said, “We are pleased to announce the robust performance of Himadri in Q1FY24. Our performance during this period is attributable to the consistent move towards value-added products.
At Himadri, sustainability is at the forefront of our business. Our business priorities are aligned with global sustainability goals. We have completed our materiality assessment and defined sustainability priorities and goals for the organisation.
We recognize the pivotal role of lithium-ion batteries (LiB) in driving sustainable growth in the foreseeable future. The LiB technology has evolved and stabilized over last few decades to become commercially feasible across all segments viz. electric vehicles, energy storage and consumer electronics. Other alternative technologies will undergo a development curve to attain technical and commercial feasibility. LiB will be a frontrunner technology and a key global growth driver for next few decades.
With our continued investment in research and development, we aim to enhance LiB performance, safety, and recyclability, ensuring they play a critical role in shaping a greener and more sustainable world. We are actively positioning ourselves to cater to a significant portion of the global demand for LiB raw materials. To accomplish this, we are strategically building a robust supply chain that aligns with our vision of sustainable and growth-focused business practices.
In line with our commitment to exploring innovative technologies, we have recently made a strategic investment in Sicona Battery Technologies, based in Sydney. Sicona specializes in high-capacity silicon anode technology for lithium-ion batteries, which enables electric mobility and renewable energy storage. This investment aligns with our vision to produce high-quality anode materials and reinforces our commitment to staying at the forefront of battery material advancements.
As we move forward, we remain committed to building a sustainable business with a robust product pipeline, a strong clientele, and cutting-edge technologies. Our focus on serving diversified end markets, achieving product leadership, and making continuous financial progress will further drive our growth and success.”
About Himadri Speciality Chemical Ltd
Himadri Speciality Chemical Ltd is a global speciality chemical conglomerate with a strong focus on research and development (R&D), innovation and sustainability.
As pioneer in the production of lithium-ion battery anode material in India, it continuously develops and innovates raw materials of lithium-ion battery value chain. It’s diverse product portfolio includes speciality carbon black, coal tar pitch, refined naphthalene, advance materials, SNF, speciality oils, power, etc. catering to various industries such as lithium-ion batteries, paints, plastics, tires, aluminium, graphite electrodes, agrochemicals, defence and construction chemicals. Himadri operates in both domestic and international markets, exporting to 49 countries across the globe.
With a strong commitment to safety and sustainability, it has 8 zero-liquid discharge manufacturing facilities and utilize in-house clean and green power for more than 90% of its energy needs. Through its dedication to R&D, new business opportunities and sustainability, Himadri is making a positive impact on the industry, both in India and globally.
