Himadri Specialty Chemical Ltd records highest-ever revenue in 9MFY23

Kolkata, February 2023: Kolkata-based leading specialty chemical company Himadri Specialty Chemical has reported robust results for the quarter and nine months ended 31st December 2022.

Key Highlights:

· Revenues increased by 61% to Rs. 3,143 Crs in 9MFY23

· EBITDA increased by 168% to Rs. 287 Crs in 9MFY23

· PBT increased by 206% to Rs. 161 Crs in 9MFY23

· Net Debt to Equity at 0.31X

Standalone financials:

Commenting on the result Mr. Anurag Chaudhary, CMD, Himadri Specility Chemical, said

“We are pleased to announce that we have achieved highest ever sales in nine months of the current financial year (9MFY23). This performance is a testament to the robust growth in volume and the accelerated expansion of our core business through the introduction of value-added products.

The world is moving towards the New Sustainability Goals Target and Carbon Neutrality for each nation. India, too is inching towards the same goal and aims to be a Carbon Neutral Nation by 2070. In this regard, Lithium-Ion Battery (LIB) will play a major role in the paradigm shift of the automobile and stationary storage industry.

Global LIB demand is going to grow from a current level of 800 GWh to 6000 GWh by 2030 at a CAGR of 31%. Today, India has become the 2nd most attractive market for manufacturing, second only to China and will also witness significant growth in this sunrise sector. LIB demand in India is expected to increase to 260 GWh by 2030 (at a CAGR of 74%) which will be fuelled by the country’s vision of Atmanirbhar Bharat and Vikshit Bharat@100.

To support Global LIB demand and with a steadfast belief in the growth potential of this segment in India, Himadri will address part of the global demand for critical supply chain required for Lithium-Ion Batteries in future as we unfold our plans in these business segments. Himadri’s R&D prowess has been instrumental in successfully launching multiple new grades of speciality carbon blacks. This has significantly increased our bouquet of offerings to our customers for various rubber, polymer, fibre, wire & cable, ink and coating applications. Our core businesses have performed well in the last quarter, reporting a 34% increase in revenue, a 197% increase in EBITDA, and a remarkable 298% increase in PBT compared to the same quarter last year. This is a testament to the strength and viability of our business model, which we have meticulously crafted over the years.

We remain committed to improving our financial position and have already made significant progress, reducing our long-term debt and effectively managing our balance sheet. Our sound financial health positions us for future growth in high-growth segments, with the continued demand for our core products and a positive outlook for the future. We are confident in the growth potential of each of our business segments and very optimistic about our growth story.”