Himadri Speciality Chemical Ltd.

NSE: HSCL · Carbon Black

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52W Range₹419 – ₹820

Snapshot

Unlock Himadri Speciality Chemical Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Himadri Speciality Chemical Limited is a diversified specialty chemical company that manufactures carbon materials, coal tar pitches, and carbon black. Its products serve critical industrial sectors including lithium-ion batteries, aluminium, infrastructure, and rubber manufacturing.

Business Model

The company generates revenue through the processing and sale of coal tar derivatives, carbon black, and specialty oils, alongside power generation from fuel gas. It operates as a key supplier to high-growth industries like electric vehicle battery production and infrastructure development.

Growth Outlook

Growth is primarily driven by the increasing demand for high-quality carbon materials in the lithium-ion battery sector and the expansion of infrastructure projects. The company continues to leverage its expertise in coal tar distillation to penetrate niche specialty chemical markets.

Key Risks

  • Raw Material Price Volatility. The company is highly susceptible to fluctuations in the prices of coal tar and other petrochemical feedstocks.
  • Environmental Regulations. Stringent environmental compliance standards for chemical manufacturing could lead to increased operational costs or production constraints.
  • Cyclicality of End-User Industries. Demand for carbon black and pitch is heavily dependent on the cyclical performance of the aluminium, tyre, and construction sectors.
  • Geopolitical and Trade Risks. As an international player, the company faces risks related to global trade policies and supply chain disruptions.

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Key Metrics

REVENUE

₹5,595 Cr

TTM · consolidated

+25.3%YoY

NET PROFIT

₹859 Cr

TTM · consolidated

+31.8%YoY

EPS

₹16.97

TTM · consolidated

+27.7%YoY

RETURN ON EQUITY

18.7%

TTM · consolidated

+2.7 ppYoY

RETURN ON CAPITAL EMPLOYED

24.4%

TTM · consolidated

+2.8 ppYoY

P/E

30.7×

Q2 FY27 · consolidated

30.7 vs 110.5x5Y avg

EV/EBITDA

20.7x

Q2 FY27 · consolidated

20.7 vs 57.7x5Y avg

EBITDA MARGIN

23.1%

TTM · consolidated

+0.3 ppYoY

NET PROFIT MARGIN

13.7%

Q2 FY27 · consolidated

-2.7 ppYoY

DEBT TO EQUITY

0.2%

Q2 FY27 · consolidated

+0.0 ppYoY

Peers · Carbon Black

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Himadri Speciality Chemical Ltd.HSCL
₹25,693 Cr30.7×20.6725.3%23.1%18.7%24.4%+7.9%
PCBL Chemical Ltd.PCBL
₹10,897 Cr42.6×13.392.1%13.5%6.7%9.6%-22.0%

As of Q2 FY27

Financials