SYNOPSIS: Himadri Speciality Chemical posted steady Q3 FY26 growth, with healthy profits, capacity expansion progress, new export routes, and promoter stake increase, while nine-month PAT surpassed full-year FY25 earnings.
During Monday’s trading session, shares of a global speciality chemical conglomerate focused on R&D, innovation, and sustainability are in focus on the stock exchanges, after reporting healthy Q3 FY26 results, with 9MFY26 PAT at Rs. 564 crore, surpassing FY25 profits.
At 02:28 p.m., shares of Himadri Speciality Chemical Limited were trading in red at Rs. 462.8 on BSE, down by around 2 percent, compared to its previous closing price of Rs. 472.35, with a market cap of Rs. 23,348 crores. The stock has delivered negative returns of around 14 percent in the last one year, and has fallen by nearly 3 percent in the last one month.
Financial Performance for Q3 FY26
Himadri Speciality Chemical Limited announced the financial results for the third quarter of FY26 on Friday after market hours, as per the latest regulatory filings with the stock exchanges.
For the quarter, the company posted a consolidated revenue from operations of Rs. 1,184 crores, reflecting a sequential growth of around 11 percent QoQ compared to Rs. 1,071 crores in Q2 FY26. On a year-on-year basis, revenue grew nearly 4 percent from Rs. 1,141 crores recorded in Q3 FY25.
Profitability improved meaningfully during the quarter. Net profit for Q3 FY26 stood at Rs. 192 crore, indicating a significant increase of around 9 percent QoQ from Rs. 176 crores in Q2 FY26, and on a year-on-year basis by over 36 percent from Rs. 141 crores reported in Q3 FY25. Meanwhile, cumulative standalone PAT for the first nine months of FY26 reached Rs. 564 crore, surpassing the full-year PAT reported in FY25.
Key Highlights
Himadri started trial production at its specialty carbon black expansion project at the Mahistikry plant in December 2025. Once fully commissioned, the facility is expected to make Mahistikry the world’s largest single-site facility for speciality carbon black in terms of production capacity, taking its total capacity to 1.3 lakh MTPA, strengthening its presence in higher-value applications such as plastics, inks, paints, and other niche specialty segments.
The quarter also marked a significant milestone with the commissioning of the new Mangalore Port terminal and the export of 3,600 tons of liquid coal tar pitch to the Middle East, establishing an additional export route alongside Haldia and enhancing supply chain flexibility and global reach.
In a separate development, the company received the balance consideration of Rs. 237 crore from its promoters during the quarter ended 31st December 2025. Following this, Himadri allotted one crore equity shares to the promoter group, increasing promoter shareholding to 52.5 percent.
Future Outlook & More
Himadri has laid out a structured growth roadmap through FY26-FY28, with FY26 milestones already achieved. Looking ahead, in FY27, momentum will accelerate with a full year of operations from the speciality carbon black expansion, further ramp-up of Birla Tyres in the OHT (off-highway tyres) and CV (commercial vehicle) segments, and the commissioning of forward integration projects for producing anthraquinone and carbazole by Q2 FY27. Additionally, the Phase 1 commercial plant for lithium iron phosphate (LFP) cathode active material will commence operations in Q3 FY27, alongside a scale-up in Durofresh production.
By FY28, the company expects a full year’s contribution from speciality carbon black, anthraquinone, and carbazole operations, along with an expanded Birla Tyres portfolio covering OHT, CV, and PCR (passenger car radial) segments. The commercial LFP plant will run for a full year, and Durofresh will reach steady-state operations.
The company has outlined a focused capex plan across its growth initiatives. It has committed Rs. 306 crore towards Birla Tyres as part of its turnaround and market share expansion strategy. A significantly higher Rs. 1,125 crore has been earmarked for the LFP (Lithium Iron Phosphate) project. In addition, Rs. 220 crore has been allocated for forward integration into specialty carbon black through a brownfield expansion, while Rs. 120 crore is planned for specialty chemicals, also via a brownfield route.
Himadri Speciality Chemical Limited is one of the leading players in speciality carbon blacks, speciality oils, naphthalene and sulphonated naphthalene formaldehyde (SNF). It is primarily engaged in the business of manufacturing carbon materials and chemicals.
The company’s diverse portfolio includes critical materials such as anode and cathode components for lithium-ion batteries, speciality carbon black used in tyres, coatings, fibres, wires, cables, hoses, etc. and refined naphthalene. We also provide speciality materials such as coal tar pitch, speciality oils and clean power solutions, all designed to meet the diverse needs of modern industries.
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