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Himadri Speciality Overview

Himadri Speciality Chemical Ltd is a coal tar pitch manufacturing company which manufactures coal tar pitch used inside the manufacture of aluminium, that is utilized in automobiles, televisions, rockets, beverage cans, wires, cables, smartphones, fixtures and foil wraps, amongst others. It manufactures coal tar pitch, which finds downstream use inside the manufacture of graphite electrodes in electric arc furnaces; specialized coal tar pitch, that is used in long warfare head missiles; advanced carbon, that is used within the manufacture of li...Read More

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Himadri Speciality Key Financials

Market Cap ₹24902 Cr.

Stock P/E 44.9

P/B 5.4

Current Price ₹493.6

Book Value ₹ 90.9

Face Value 1

52W High ₹534.4

Dividend Yield 0.12%

52W Low ₹ 407.1

Himadri Speciality Share Price

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Volume
Price

Himadri Speciality Quarterly Price

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Himadri Speciality Peer Comparison

Himadri Speciality Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 1005 1053 1177 1200 1137 1141 1135 1118 1071 1184
Other Income 10 10 12 13 14 12 14 27 36 47
Total Income 1014 1063 1189 1213 1150 1153 1148 1145 1107 1230
Total Expenditure 847 879 997 1008 929 920 901 873 838 941
Operating Profit 167 184 192 205 222 233 247 272 269 289
Interest 16 21 14 13 11 12 9 16 15 16
Depreciation 12 13 13 13 13 15 14 15 17 18
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 139 150 166 179 197 206 224 241 237 255
Provision for Tax 38 41 51 56 62 65 69 62 60 63
Profit After Tax 101 109 115 123 136 141 155 179 176 192
Adjustments 0 0 -0 -0 -0 1 0 2 1 0
Profit After Adjustments 101 109 115 123 135 142 156 182 177 192
Adjusted Earnings Per Share 2.3 2.5 2.3 2.5 2.7 2.9 3.2 3.7 3.6 3.8

Himadri Speciality Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 1438 1183 1343 2022 2422 1806 1679 2791 4172 4185 4613 4508
Other Income 13 9 6 12 8 8 14 7 28 52 59 124
Total Income 1451 1192 1349 2034 2430 1814 1694 2799 4200 4237 4672 4630
Total Expenditure 1314 1038 1110 1569 1863 1525 1549 2635 3773 3550 3766 3553
Operating Profit 137 155 239 465 568 288 145 163 427 688 906 1077
Interest 103 111 82 70 71 55 33 36 66 64 45 56
Depreciation 59 67 33 33 34 39 47 50 51 50 55 64
Exceptional Income / Expenses 0 0 0 0 0 0 0 -25 -30 0 0 0
Profit Before Tax -24 -23 125 361 462 194 65 53 280 574 806 957
Provision for Tax -12 -5 42 113 138 -11 17 14 64 163 251 254
Profit After Tax -13 -19 82 248 324 205 47 39 216 411 555 702
Adjustments 0 0 0 -0 0 0 0 2 0 0 1 3
Profit After Adjustments -12 -19 83 247 324 205 47 41 216 411 556 707
Adjusted Earnings Per Share -0.3 -0.4 2 5.9 7.7 4.9 1.1 1 5 8.3 11.3 14.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 10% 18% 21% 12%
Operating Profit CAGR 32% 77% 26% 21%
PAT CAGR 35% 142% 22% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 7% 74% 64% 39%
ROE Average 17% 14% 10% 10%
ROCE Average 22% 18% 12% 13%

Himadri Speciality Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 789 879 1030 1415 1632 1734 1793 1868 2281 3046 3722
Minority's Interest 0 -0 -0 -0 -0 -0 -1 -3 -3 -3 49
Borrowings 532 366 387 231 188 22 84 93 48 22 3
Other Non-Current Liabilities 170 156 69 179 277 298 319 343 365 489 590
Total Current Liabilities 798 709 696 740 928 743 841 1412 1295 1295 736
Total Liabilities 2289 2109 2182 2565 3025 2797 3037 3714 3986 4848 5100
Fixed Assets 1228 1180 1174 1178 1170 1475 1468 1546 1515 1534 1605
Other Non-Current Assets 185 225 205 452 610 485 522 500 538 915 1212
Total Current Assets 876 705 804 935 1245 836 1047 1668 1933 2399 2283
Total Assets 2289 2109 2182 2565 3025 2797 3037 3714 3986 4848 5100

Himadri Speciality Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 25 17 30 12 20 14 42 53 173 208 215
Cash Flow from Operating Activities 212 296 205 258 476 283 -40 331 54 405 447
Cash Flow from Investing Activities 128 -5 18 -50 -224 -214 -114 -28 -397 -405 -235
Cash Flow from Financing Activities -348 -278 -233 -200 -257 -41 165 -182 377 7 -271
Net Cash Inflow / Outflow -8 13 -10 8 -6 28 11 121 34 7 -60
Closing Cash & Cash Equivalent 17 30 12 20 14 42 53 173 208 215 155

Himadri Speciality Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -0.32 -0.44 1.98 5.91 7.75 4.91 1.13 0.98 4.99 8.34 11.25
CEPS(Rs) 1.21 1.15 2.75 6.71 8.57 5.84 2.25 2.11 6.16 9.35 12.35
DPS(Rs) 0 0.05 0.1 0.1 0.15 0.15 0.15 0.2 0.25 0.5 0.6
Book NAV/Share(Rs) 20.44 21 24.61 33.78 38.92 41.33 42.71 44.49 50.25 61.8 73.65
Core EBITDA Margin(%) 7.69 11.03 15.65 21.84 23.11 15.52 7.8 5.59 9.57 15.18 18.36
EBIT Margin(%) 4.84 6.63 13.84 20.82 22.01 13.79 5.84 3.19 8.3 15.24 18.45
Pre Tax Margin(%) -1.52 -1.78 8.37 17.42 19.08 10.75 3.84 1.92 6.72 13.71 17.48
PAT Margin (%) -0.77 -1.43 5.53 11.95 13.39 11.37 2.81 1.4 5.17 9.81 12.03
Cash Profit Margin (%) 2.89 3.64 7.73 13.55 14.81 13.55 5.61 3.17 6.39 11 13.23
ROA(%) -0.52 -0.86 3.84 10.43 11.6 7.06 1.62 1.16 5.61 9.3 11.16
ROE(%) -1.58 -2.27 8.64 20.27 21.31 12.22 2.69 2.14 10.69 15.74 16.62
ROCE(%) 3.84 4.76 11.56 22.25 25.49 11.46 4.13 3.59 12.45 18.86 22.17
Receivable days 76.22 72.48 52.07 43.43 48.06 67.28 82.7 63.19 44.18 50.61 50.98
Inventory Days 85.37 94.83 87.63 71.88 72.57 95.85 80.91 72.63 57.56 54.37 50.95
Payable days 34.67 48.76 60.89 43.97 25.72 22.64 32.69 40.45 38.78 54.53 46.5
PER(x) 0 0 22.06 24.79 15.12 6.02 36.8 76.08 17.5 36.17 37.68
Price/Book(x) 0.73 0.75 1.77 4.34 3.01 0.72 0.98 1.67 1.74 4.88 5.76
Dividend Yield(%) 0 0.32 0.23 0.07 0.13 0.51 0.36 0.27 0.29 0.17 0.14
EV/Net Sales(x) 1.16 1.27 1.91 3.34 2.2 0.94 1.39 1.23 0.96 3.52 4.46
EV/Core EBITDA(x) 12.1 9.69 10.72 14.55 9.39 5.88 16.06 21 9.34 21.42 22.71
Net Sales Growth(%) 3 -17.7 13.48 50.52 19.83 -25.45 -7 66.2 49.46 0.31 10.22
EBIT Growth(%) 82.16 12.13 135.34 109.18 23.59 -53.29 -60.65 -9.09 288.76 84.14 33.44
PAT Growth(%) 78.41 -51.48 534.88 200.34 30.95 -36.66 -76.98 -17.37 452.71 90.25 35.17
EPS Growth(%) 78.19 -37.86 545.36 198.96 30.99 -36.67 -76.9 -13.76 410.72 67.07 34.94
Debt/Equity(x) 1.43 1.01 0.75 0.47 0.29 0.29 0.4 0.31 0.38 0.2 0.08
Current Ratio(x) 1.1 0.99 1.15 1.26 1.34 1.13 1.25 1.18 1.49 1.85 3.1
Quick Ratio(x) 0.64 0.54 0.59 0.7 0.76 0.58 0.84 0.63 1.07 1.31 2.31
Interest Cover(x) 0.76 0.79 2.53 6.12 7.5 4.54 2.93 2.5 5.24 9.99 19.01
Total Debt/Mcap(x) 1.94 1.35 0.42 0.11 0.1 0.41 0.41 0.19 0.22 0.04 0.01

Himadri Speciality Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 44.79 50.29 50.2 50.78 51.56 51.61 51.61 51.57 52.5 52.5
FII 5.39 5.13 5.16 5.24 5.15 5.38 5.19 5.74 5.75 5.98
DII 0.64 2.12 2.27 3.59 4.23 4.61 4.82 3.21 3.08 3.2
Public 49.18 42.46 42.37 40.4 39.06 38.39 38.38 39.48 38.67 38.33
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Himadri Speciality News

Himadri Speciality Pros & Cons

Pros

  • Company has delivered good profit growth of 22% CAGR over last 5 years
  • Debtor days have improved from 54.53 to 46.5days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 14% over the last 3 years.
  • Stock is trading at 5.4 times its book value.
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