Whalesbook
Toh hua ye hai ki Himadri ka mann hai FY28 tak apni kamayi ko do-guna karne ka. Iske liye unka pura focus expansion par hai. Ye log specialty carbon black aur apne core chemicals business ko badha rahe hain. Aur toh aur, ye LFP cathode active materials jaisi nayi cheezon mein bhi ghus rahe hain, jo future ke liye kaafi important hai.
Kaam Kaise Karega?
Company ka plan hai ki FY27 tak apna expanded specialty carbon black capacity fully chalu kar de, jahan inka mukabla PCBL aur Birla Carbon jaise players se hai. Saath hi, ye apne Birla Tyres division ko bhi boost kar rahe hain, jismein off-highway aur commercial vehicle tyres mein entry ka target hai. Aur chemicals mein, ye import kam karne ke liye anthraquinone aur carbazole bhi banayenge.
Financials ki baat karein toh, company ka market cap lagbhag ₹30,363 Cr hai aur P/E ratio 40-41 ke aas-paas hai, jo industry average ~37 se thoda upar hai. Pichle saal stock 37% bhaga tha. Aur haan, Q4 FY26 mein inka net profit 33% badh kar ₹207.53 Cr ho gaya tha, jabki revenue 13% upar gaya.
Naye Ventures Mein Challenges
Himadri LFP cathode active material mein bhi entry kar raha hai, jiske liye Odisha mein ₹1,125 Cr ki investment se 40,000 tonnes per annum capacity wala plant lagaya ja raha hai Q3 FY27 tak. Lekin yahan sabse bada panga ye hai ki global market China dominated hai, aur EV makers se approval milna ek lambi process hai. Competition mein Nichia aur POSCO Future M jaise bade naam hain.
Specialty carbon black sector bhi kaafi competitive hai jahan Cabot Corporation, Orion S.A., PCBL jaise players hain. Himadri specialty grades par focus kar raha hai. Indian specialty chemical market $60 billion tak pahunchne ka estimate hai 2026 tak. Tyre market bhi 7.49% CAGR se grow karne wala hai.
Sab plans acche hain, par risks bhi kam nahi hain. LFP contracts milna, quality maintain karna, aur cost-competitiveness dikhana mushkil ho sakta hai. Carbon black mein bhi bade players se takkar hai. Tyre industry mein bhi competition aur investment lagatar chahiye.
Analysts Kya Keh Rahe Hain?
Analysts thode cautious hain. Zyada tar analysts 'Hold' rating de rahe hain aur target price lagbhag ₹470.00 ke aas-paas de rahe hain, jo current trading level se kam hai. Iska matlab market shayad purey growth plan ke successful hone par poora bharosa nahi kar raha hai.