Himadri Speciality Chemical Ltd
NSE: HSCL BSE: 500184Chemicals
Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals.[1] It is the No.1 coal pitch manufacturer in India and is the only company to manufacture advanced carbon material in India. It is also the largest player of Naphthalene and SNF in India.[2]
₹560
52W: ₹418 — ₹654
PE 37.6 · Book ₹91.6 · +511% vs bookMarket Cap₹28,254 Cr
Stock P/E37.6Price to Earnings
ROCE22.6%Return on Capital
ROE18.1%Return on Equity
Div. Yield0.13%Face Value ₹1
Strengths
- +Company has delivered good profit growth of 74.2% CAGR over last 5 years
Shareholding Pattern
Promoters52.49%
FIIs5.98%
DIIs3.22%
Public38.32%
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 50.2% | 50.78%▲0.6 | 51.56%▲0.8 | 51.61%▲0.0 | 51.6%▼0.0 | 51.57%▼0.0 | 52.49%▲0.9 | 52.49% |
| FIIs | 5.16% | 5.24%▲0.1 | 5.15%▼0.1 | 5.38%▲0.2 | 5.2%▼0.2 | 5.74%▲0.5 | 5.75%▲0.0 | 5.98%▲0.2 |
| DIIs | 2.27% | 3.6%▲1.3 | 4.24%▲0.6 | 4.62%▲0.4 | 4.83%▲0.2 | 3.21%▼1.6 | 3.09%▼0.1 | 3.22%▲0.1 |
| Public | 42.36% | 40.38%▼2.0 | 39.05%▼1.3 | 38.38%▼0.7 | 38.36%▼0.0 | 39.46%▲1.1 | 38.66%▼0.8 | 38.32%▼0.3 |
Financial Statements
| Metric | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,053 | 1,177 | 1,200 | 1,135 | 1,132 | 1,129 | 1,100 | 1,070 | 1,133 | 1,101 |
| Expenses | 880 | 1,000 | 1,008 | 929 | 913 | 895 | 857 | 833 | 894 | 887 |
| Operating Profit | 172 | 177 | 192 | 206 | 218 | 234 | 244 | 238 | 239 | 214 |
| OPM % | 16% | 15% | 16% | 18% | 19% | 21% | 22% | 22% | 21% | 19% |
| Net Profit | 108 | 115 | 123 | 134 | 142 | 158 | 183 | 187 | 195 | 186 |
| EPS ₹ | 2.45 | 2.33 | 2.5 | 2.72 | 2.88 | 3.2 | 3.7 | 3.78 | 3.86 | 3.68 |
AI Insights
Revenue Trend
Mar 2026 revenue at ₹4,405Cr, down 4.2% YoY. OPM at 21%.
Debt Position
Borrowings at ₹723Cr. Debt-to-equity ratio: 0.16x. Healthy balance sheet.
Capex Cycle
CWIP at ₹234Cr (13% of fixed assets). Moderate ongoing capital expenditure.
Institutional Flow
DIIs: 3.22% (+2.69pp change). FIIs: 5.98% (+3.02pp change). Promoters hold 52.49%.
Margin & Efficiency
ROCE improving from 3% (Mar 2015) to 23% (Mar 2026). Working capital days: 60.
Valuation
PE 37.6x with 22.6% ROCE. Price is 511% above book value of ₹91.6. Dividend yield: 0.13%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication 2d - Newspaper publications for Notice of the 38th AGM, E-Voting Information and Record date
- Reg. 34 (1) Annual Report. 2d
- Business Responsibility and Sustainability Reporting (BRSR) 2d - Himadri submitted FY2025-26 BRSR on 15 May 2026 as part of Integrated Annual Report.
- Notice Of 38Th Annual General Meeting (AGM) And Integrated Annual Report For The Financial Year 2025-26 2d
- Announcement under Regulation 30 (LODR)-Newspaper Publication 15 May - Newspaper Publications for Public notice for conducting the 38th AGM to be held through VC/OAVM
- Financial Year 2026 from bse
- Financial Year 2025 from bse
- Financial Year 2024 from bse