Himadri Speciality Chemical LimitedQ1 FY27 Results & Financial Update
Himadri Speciality Chemical Limited: Q1 FY27 consolidated results and company financials – revenue ₹1,431.88 Cr, PAT ₹228.43 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Himadri Speciality Chemical Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During the quarter ended 30 June 2026, Himadri Speciality Chemical reported consolidated revenue from operations of INR 1,431.88 crore, accompanied by other income of INR 56.31 crore, bringing total consolidated income to INR 1,488.19 crore.
Profit before tax (PBT) for Q1 FY27 stood at INR 300.51 crore, while total net profit after tax (PAT) reached INR 228.43 crore, reflecting a PAT margin of approximately 15.95% on operating revenue.
Basic and diluted earnings per share (EPS) for the quarter were recorded at INR 4.55 each on a face value of Re. 1 per share, not annualized.
The carbon materials and chemicals segment continued to serve as the primary growth driver, generating segment revenue of INR 1,278.90 crore and segment results of INR 262.56 crore before unallocable items.
The board approved substantial capital expenditure plans during the quarter, including an additional INR 128 crore to expand Anthraquinone and Carbazole capacity to 5,300 MTPA, INR 70 crore for India's first in-house Carbon Nano Tubes facility, and INR 170 crore for Super Speciality Carbon Black.
Total expenses for the quarter were reported at INR 1,187.68 crore, led by cost of materials consumed of INR 1,003.34 crore and employee benefit expenses of INR 58.27 crore.
Subsequent to the quarter end, the Nomination and Remuneration Committee allotted 19,000 equity shares under the employee stock option plan, increasing paid-up equity share capital to INR 50.45 crore.
01 · Business model
What does Himadri Speciality Chemical do?
Himadri Speciality Chemical Limited is a prominent specialty chemical manufacturer with operations spanning carbon materials and chemicals, power generation, and related industrial segments.
The company produces various grades of carbon black, coal tar pitch, advanced carbon materials, and specialty chemical derivatives that serve major industrial sectors such as lithium-ion batteries, electric vehicles, tires, aluminum smelting, and specialty plastics.
Himadri operates integrated manufacturing complexes in India, supported by an expanding footprint of domestic and international subsidiaries, enabling it to supply critical raw materials to both domestic and export markets.
02 · Historical context
What shaped the business before this quarter
Previously on 13 January 2025, the board approved an initial capex of INR 120 crore for setting up a facility to manufacture high-value specialty products Anthraquinone and Carbazole for 2,600 MTPA.
The company expanded its consolidation scope over prior periods through the addition of entities such as Birla Tyres Limited, Trancemarine and Confreight Logistics, and Himadri Advance New Energy Material Limited during FY25 and FY26.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹1,431.88 Cr |
| Total income | ₹1,488.19 Cr |
| Profit before tax | ₹300.51 Cr |
| Profit after tax | ₹228.43 Cr |
| EPS | ₹4.55 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Generated consolidated segment revenue of INR 1,278.90 crore for Q1 FY27, representing the overwhelming majority of total operational turnover.
Contributed gross segment revenue of INR 31.88 crore during the quarter.
Included mining and other business activities generating segment revenue of INR 143.89 crore prior to inter-segment eliminations of INR 22.79 crore.
What drove margins
Cost of materials consumed stood at INR 1,003.34 crore alongside stock-in-trade purchases of INR 114.64 crore and a negative inventory change of INR 205.87 crore.
Other expenses of INR 173.59 crore included net foreign exchange fluctuation losses of INR 25.20 crore during the quarter.
Finance costs were recorded at INR 22.41 crore, and depreciation and amortization expenses stood at INR 21.30 crore.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Reported segment revenue of INR 1,278.90 crore and segment profit before interest and tax of INR 262.56 crore.
Reported segment revenue of INR 31.88 crore and segment profit of INR 28.10 crore.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Board approved an additional capex of INR 128 crore to enhance capacity from 2,600 MTPA to 5,300 MTPA, implemented in two phases without altering overall production capacity.
Board approved INR 170 crore capex for 6,000 MTPA of Super Speciality Carbon Black, converted from existing carbon black streams while maintaining total carbon black capacity at 250,000 MTPA.
Projects, capex and execution
Board approved INR 70 crore capex to set up India's first manufacturing facility for Carbon Nano Tubes with an annual production capacity of 200 MTPA in West Bengal using in-house technology.
Anthraquinone Phase 1 (2,600 MTPA) is scheduled for commissioning by Q2 FY27 and Phase 2 (2,700 MTPA) by Q2 FY28. The Carbon Nano Tubes facility is expected by Q4 FY27, and Super Speciality Carbon Black by Q4 FY28.
07 · Strategy & new businesses
How the company is trying to change its growth mix
Expansion into Carbon Nano Tubes positions Himadri in high-growth sectors including electric vehicle lithium-ion battery conductive additives, semiconductor electronics, aerospace composites, and energy storage.
08 · Reported developments
What changed operationally
Successful development of in-house technology for Carbon Nano Tubes manufacturing enables import substitution and aligns with the Atmanirbhar Bharat initiative.
09 · Pressure points & risks
What is not going smoothly
Reported net foreign exchange fluctuation losses of INR 25.20 crore included within other expenses for the quarter.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
The announced capital expenditure projects for Anthraquinone, Carbon Nano Tubes, and Super Speciality Carbon Black are to be funded primarily through internal accruals.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
ESOP Allotment
The Nomination and Remuneration Committee allotted 19,000 equity shares of Re. 1 each on 6 July 2026 under the Himadri Employee Stock Option Plan 2016.
12 · Key Q&A
The quarter, answered directly
What does Himadri Speciality Chemical do?
Himadri Speciality Chemical Limited is a prominent specialty chemical manufacturer with operations spanning carbon materials and chemicals, power generation, and related industrial segments.
What is the clearest takeaway from Q1 FY27?
During the quarter ended 30 June 2026, Himadri Speciality Chemical reported consolidated revenue from operations of INR 1,431.88 crore, accompanied by other income of INR 56.31 crore, bringing total consolidated income to INR 1,488.19 crore.
What drove revenue or demand?
Generated consolidated segment revenue of INR 1,278.90 crore for Q1 FY27, representing the overwhelming majority of total operational turnover.
What mattered most for margins or profitability?
Cost of materials consumed stood at INR 1,003.34 crore alongside stock-in-trade purchases of INR 114.64 crore and a negative inventory change of INR 205.87 crore.
What changed operationally beyond the headline numbers?
Board approved an additional capex of INR 128 crore to enhance capacity from 2,600 MTPA to 5,300 MTPA, implemented in two phases without altering overall production capacity.
What are the main pressure points disclosed for the quarter?
Reported net foreign exchange fluctuation losses of INR 25.20 crore included within other expenses for the quarter.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Phase 1 Anthraquinone Commissioning: Monitor the commissioning of Phase 1 Anthraquinone and Carbazole capacity (2,600 MTPA) targeted for Q2 FY27.
- 02
CNT Facility Progress: Track progress on the establishment of the Carbon Nano Tubes facility in West Bengal toward its expected Q4 FY27 commissioning date.
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