Himadri Speciality Chemical reported a strong Q2 FY27 performance with revenue of Rs 1,691 crore and a 31% YoY increase in profit to Rs 231 crore. The company is actively executing a major capacity expansion, including upcoming LFP cathode and carbon nanotubes facilities, while reaffirming its FY28 profit targets.
Himadri Speciality Chemical Q2 FY27 Results
Revenue stands at Rs 1,691 crore; Profit After Tax (PAT) rose 31% year-on-year to Rs 231 crore.
Reader Takeaway: Strong growth in advanced materials drives performance; rising global logistics costs remain a temporary pressure point for margins.
What just happened
Himadri Speciality Chemical delivered a robust second quarter for FY27, marked by a 31% jump in consolidated PAT to Rs 231 crore. EBITDA reached Rs 303 crore, reflecting a 27% year-on-year increase. The company maintained an EBITDA per metric ton of Rs 21,000, aligning with its sustainable guidance range of Rs 20,000 to 24,000.
Why this matters
The results highlight the company's successful transition from R&D to commercial-scale production in advanced materials. Management has reaffirmed a long-term goal of achieving over Rs 1,100 crore in PAT by FY28, which is supported by planned capital expenditures of Rs 800-900 crore in FY27, funded entirely through internal accruals.
Project Commissioning Roadmap
Himadri is nearing critical milestones in its expansion:
- LFP Cathode Materials: 2,000 TPA facility scheduled for Q3 FY27, with a larger 40,000 TPA phase to follow.
- Carbon Nanotubes: 200 TPA facility targeted for Q4 FY27.
- Anthraquinone & Carbazole: Full 5,300 TPA capacity set for Q4 FY27 launch.
- Super Speciality Carbon Black: 6,000 TPA capacity targeted for Q4 FY28.
Risks to watch
Rising global container freight rates impacted quarterly margins, as exports now account for 33% of sales. Additionally, operational delays in the sand mining segment in Bengal affected performance, though recent environmental clearances in October 2026 are expected to provide a tailwind moving forward.
What to track next
Investors should monitor the integration of the Birla Tyres business, which contributed Rs 140 crore in trading sales this quarter, and the commissioning timelines for the new battery-tech production facilities.