Himadri Speciality

₹346.2 -0.4 | 0.1%

WEBSITE BSE:500184 NSE : HSCL 10 May, 16:00

Market Cap ₹17055 Cr.

Stock P/E 38.2

P/B 5.6

Current Price ₹346.2

Book Value ₹ 61.8

Face Value 1

52W High ₹399

Dividend Yield 0.14%

52W Low ₹ 115.1

Edit Ratio

Himadri Speciality Research see more...

Overview Inc. Year: 1987Industry: Chemicals

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 lithium-ion batteries; coal tar-based thermoplastic polymeric coating, that is used as an anti-corrosive material in underground and offshore pipelines; carbon black, that is used for reinforcement of elastomeric substances, and speciality carbon black with particular applications in plastics, fiber, inks and meals grade substances. It also manufactures sulfonated naphthalene formaldehyde (SNF); poly carboxylate ether (PCE), and wood preservatives and fuel oils.

Himadri Speciality Share Price

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Peer Comparison

Himadri Speciality Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	772	834	1047	1059	1037	1029	951	1005	1053	1177
Other Income	4	2	2	8	8	11	10	10	10	12
Total Income	777	836	1048	1067	1045	1039	961	1014	1063	1189
Total Expenditure	728	790	975	962	932	903	817	847	879	997
Operating Profit	48	46	73	105	113	136	144	167	184	192
Interest	9	11	13	20	20	13	13	16	21	14
Depreciation	12	13	13	13	13	12	12	12	13	13
Exceptional Income / Expenses	0	-25	0	-30	0	0	0	0	0	0
Profit Before Tax	27	-3	48	42	79	111	119	139	150	166
Provision for Tax	3	6	9	6	14	34	33	38	41	51
Profit After Tax	24	-9	39	36	65	76	86	101	109	115
Adjustments	0	2	0	0	-0	0	0	0	0	-0
Profit After Adjustments	24	-7	39	36	65	76	86	101	109	115
Adjusted Earnings Per Share	0.6	-0.2	0.9	0.9	0.9	1.8	2	2.3	2.5	2.3

Himadri Speciality Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	1353	1396	1438	1183	1343	2022	2422	1806	1679	2791	4172	4186
Other Income	31	13	13	9	6	12	8	8	14	7	28	42
Total Income	1384	1409	1451	1192	1349	2034	2430	1814	1694	2799	4200	4227
Total Expenditure	1247	1308	1314	1038	1110	1569	1863	1525	1549	2635	3773	3540
Operating Profit	137	101	137	155	239	465	568	288	145	163	427	687
Interest	80	118	103	111	82	70	71	55	33	36	66	64
Depreciation	55	58	59	67	33	33	34	39	47	50	51	50
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	-25	-30	0
Profit Before Tax	2	-75	-24	-23	125	361	462	194	65	53	280	574
Provision for Tax	-6	-17	-12	-5	42	113	138	-11	17	14	64	163
Profit After Tax	9	-58	-13	-19	82	248	324	205	47	39	216	411
Adjustments	1	1	0	0	0	-0	0	0	0	2	0	0
Profit After Adjustments	9	-57	-12	-19	83	247	324	205	47	41	216	411
Adjusted Earnings Per Share	0.2	-1.5	-0.3	-0.4	2	5.9	7.7	4.9	1.1	1	5	9.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	49%	32%	16%	12%
Operating Profit CAGR	162%	14%	-2%	12%
PAT CAGR	454%	2%	-3%	37%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	186%	89%	28%	33%
ROE Average	11%	5%	10%	6%
ROCE Average	12%	7%	11%	10%

Himadri Speciality Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	887	796	789	879	1030	1415	1632	1734	1793	1868	2281
Minority's Interest	1	0	0	-0	-0	-0	-0	-0	-1	-3	-3
Borrowings	600	589	532	366	387	231	188	22	84	93	48
Other Non-Current Liabilities	202	224	170	156	69	179	277	298	319	343	365
Total Current Liabilities	776	935	798	709	696	740	928	743	841	1412	1295
Total Liabilities	2466	2544	2289	2109	2182	2565	3025	2797	3037	3714	3986
Fixed Assets	926	1221	1228	1180	1174	1178	1170	1475	1468	1546	1515
Other Non-Current Assets	473	214	185	225	205	452	610	485	522	500	538
Total Current Assets	1066	1109	876	705	804	935	1245	836	1047	1668	1933
Total Assets	2466	2544	2289	2109	2182	2565	3025	2797	3037	3714	3986

Himadri Speciality Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	32	83	25	17	30	12	20	14	42	53	173
Cash Flow from Operating Activities	-11	149	212	296	205	258	476	283	-40	331	54
Cash Flow from Investing Activities	-6	-99	128	-5	18	-50	-224	-214	-114	-28	-397
Cash Flow from Financing Activities	69	-109	-348	-278	-233	-200	-257	-41	165	-182	377
Net Cash Inflow / Outflow	51	-59	-8	13	-10	8	-6	28	11	121	34
Closing Cash & Cash Equivalent	83	25	17	30	12	20	14	42	53	173	208

Himadri Speciality Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	0.24	-1.48	-0.32	-0.44	1.98	5.91	7.75	4.91	1.13	0.98	4.99
CEPS(Rs)	1.66	0.01	1.21	1.15	2.75	6.71	8.57	5.84	2.25	2.11	6.16
DPS(Rs)	0.1	0.1	0	0.05	0.1	0.1	0.15	0.15	0.15	0.2	0.25
Book NAV/Share(Rs)	22.99	20.63	20.44	21	24.61	33.78	38.92	41.33	42.71	44.49	50.25
Core EBITDA Margin(%)	6.99	5.65	7.69	11.03	15.65	21.84	23.11	15.52	7.8	5.59	9.57
EBIT Margin(%)	5.37	2.74	4.84	6.63	13.84	20.82	22.01	13.79	5.83	3.19	8.3
Pre Tax Margin(%)	0.14	-4.77	-1.52	-1.78	8.37	17.42	19.08	10.75	3.84	1.92	6.72
PAT Margin (%)	0.56	-3.7	-0.77	-1.43	5.53	11.95	13.38	11.37	2.81	1.4	5.17
Cash Profit Margin (%)	4.2	0.03	2.89	3.64	7.73	13.55	14.81	13.55	5.61	3.17	6.39
ROA(%)	0.36	-2.31	-0.52	-0.86	3.84	10.43	11.6	7.06	1.62	1.16	5.61
ROE(%)	0.97	-6.89	-1.58	-2.27	8.64	20.27	21.31	12.22	2.69	2.14	10.69
ROCE(%)	3.94	1.99	3.84	4.76	11.56	22.25	25.49	11.46	4.13	3.59	12.45
Receivable days	58.78	69.68	76.22	72.48	52.07	43.43	48.06	67.28	82.7	63.19	44.18
Inventory Days	87.77	93.07	85.37	94.83	87.63	71.88	72.57	95.85	80.91	72.63	57.56
Payable days	15.42	26.09	34.67	48.76	60.89	43.97	25.72	22.64	32.69	40.45	38.78
PER(x)	50.67	0	0	0	22.06	24.79	15.12	6.02	36.8	76.08	17.5
Price/Book(x)	0.54	1	0.73	0.75	1.77	4.34	3.01	0.72	0.98	1.67	1.74
Dividend Yield(%)	0.81	0.48	0	0.32	0.23	0.07	0.13	0.51	0.36	0.27	0.29
EV/Net Sales(x)	1.22	1.51	1.16	1.27	1.91	3.34	2.2	0.94	1.39	1.23	0.96
EV/Core EBITDA(x)	12.06	20.84	12.1	9.69	10.72	14.55	9.39	5.88	16.06	21	9.34
Net Sales Growth(%)	18.22	3.16	3	-17.7	13.48	50.52	19.83	-25.45	-7	66.2	49.46
EBIT Growth(%)	-45.99	-47.47	82.16	12.13	135.34	109.18	23.59	-53.29	-60.65	-9.09	288.76
PAT Growth(%)	-84.94	-776.24	78.41	-51.48	534.88	200.34	30.95	-36.66	-76.98	-17.37	452.71
EPS Growth(%)	-83.51	-703.68	78.19	-37.86	545.36	198.96	30.99	-36.67	-76.9	-13.76	410.72
Debt/Equity(x)	1.44	1.71	1.43	1.01	0.75	0.47	0.29	0.29	0.4	0.31	0.38
Current Ratio(x)	1.37	1.19	1.1	0.99	1.15	1.26	1.34	1.13	1.25	1.18	1.49
Quick Ratio(x)	0.84	0.77	0.64	0.54	0.59	0.7	0.76	0.58	0.84	0.63	1.07
Interest Cover(x)	1.03	0.36	0.76	0.79	2.53	6.12	7.5	4.54	2.93	2.5	5.24
Total Debt/Mcap(x)	2.67	1.71	1.94	1.35	0.42	0.11	0.1	0.41	0.41	0.19	0.22

Himadri Speciality Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	45.43	45.43	45.39	45.39	45.38	45.62	44.96	44.86	44.79	50.29
FII	1.21	1.66	1.61	1.97	2.38	2.36	2.96	5.12	5.39	5.13
DII	0.36	0	0	0.01	0.5	0.48	0.54	0.5	0.64	2.12
Public	53.01	52.91	53	52.64	51.74	51.54	51.53	49.52	49.18	42.46
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	19.03	19.03	19.03	19.03	19.03	19.74	19.74	19.74	19.74	24.77
FII	0.51	0.69	0.67	0.83	1	1.02	1.3	2.25	2.38	2.53
DII	0.15	0	0	0	0.21	0.21	0.24	0.22	0.28	1.05
Public	22.21	22.17	22.23	22.07	21.7	22.3	22.62	21.79	21.67	20.91
Others	0	0	0	0	0	0	0	0	0	0
Total	41.9	41.9	41.93	41.93	41.94	43.27	43.9	44	44.07	49.26

Pros

Debtor days have improved from 40.45 to 38.78days.
Company has reduced debt.
Company is almost debt free.

Cons

Company has a low return on equity of 5% over the last 3 years.
Stock is trading at 5.6 times its book value.
The company has delivered a poor profit growth of -2% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.