ReleaseHimadri reports the highest ever sales volume and 246.2% increase in PAT to INR 100.84 crore

Himadri Speciality Chemical Limited (listed) reported results for the quarter and six month ended 30th September 2023.

Highlights of the quarter:

· Revenues decreased by 5.1% to Rs. 1004.52 Crs in Q2FY24 YoY

· EBITDA increased by 63.6% to Rs. 156 Crs in Q2FY24 YoY

· PAT increased by 246.2% to Rs. 100.84 Crs in Q2FY24 YoY

· Recorded highest-ever sales volume

Commenting on the results and performance, Mr. Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical Ltd said: I am extremely happy to share with you all that Himadri in Q2FY24 has achieved a milestone of crossing Rs. 100 Crs of PAT. Sustainability has always been at the heart of our operations. With our expanding global footprint, we have built a robust Environment, Social, and Governance (ESG) framework. We have already set ambitious goals to achieve net-zero emissions by 2050 with interim targets for 2025 and 2030. As per our present performance status, we are ahead of our annual objective.

We have launched zero accident vision to preserve best in class safety at workplace. Through our state-of-the-art facilities, we continuously strive to develop cutting-edge solutions that meet the evolving needs of our customers and minimising its environmental impact. The business has shown significant improvements in profitability largely attributable to our business strategy to move directionally towards value-added products. We recorded highest ever volumes in our business in the last quarter along with increased margins per MT.While our core business continues to deliver very strong set of numbers and the demand for the products in the future also remains strong, we are excited with the developments and the progress that we have achieved with the help of our research team in the areas of LiB Battery materials. Global demand for batteries is increasing, driven largely by the imperative to reduce climate change through electrification of mobility and the broader energy transition.Corresponding to our vision of playing a critical role in LiB value chain, our R&D is making significant progress in product development for both Cathode Active Material and Anode Active Material. Simultaneously, we are progressing in our supply chain relationships, capabilities to manufacture at scale and customer relationships.With our continued investment in R&D and our strategic global partnerships, we aim to enhance LiB performance and safety, ensuring they play a critical role in shaping a greener and more sustainable world.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.