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Himadri Speciality Q3 FY26: PAT Grows 41% YoY, 9M PAT Surpasses Full FY25 Total
Himadri Speciality Chemical (HSCL) reported a robust performance for Q3 FY26, with 9M FY26 PAT already exceeding the total PAT for the entire FY25. The company has successfully commenced trial production of its speciality carbon black expansion, reaching a world-leading single-site capacity of 130,000 MTPA. Strategic growth remains on track with the LFP Cathode Active Material plant scheduled for Q3 FY27 and a new Mangalore port terminal enhancing export flexibility. Management highlighted a shift towards high-value battery materials and speciality chemicals to drive future margins.
Key Highlights
9M FY26 PAT has already surpassed the full-year PAT of FY25, supported by a 41% YoY growth in profitability.
Speciality carbon black capacity reached 130,000 MTPA following the start of trial production at the expansion project.
First commercial phase of 40,000 MTPA LFP Cathode Active Material plant is on track for commissioning in Q3 FY27.
Commissioned Mangalore port terminal and successfully delivered 3,600 MT of liquid coal tar pitch to the Middle East.
Anthraquinone and carbazole facility, the first of its kind in India, is scheduled for completion in Q2 FY27.
💼 Action for Investors
Investors should maintain a positive outlook given the company's successful transition into high-margin battery materials and speciality chemicals. Monitor the timely commissioning of the LFP cathode plant in FY27 as it represents a significant valuation re-rating trigger.