Himadri Speciality Chemical Ltd. · NSE:HSCL
Himadri Speciality Chemical — Q3 FY2026 Earnings Presentation
62 slides from Himadri Speciality Chemical's earnings presentation, Jan 16, 2026
Slide 1: Cover letter to stock exchanges
Ref. No: HSCL / Stock-Ex/2025-26/130 Date: 16/01/2026 E-mail: monika@himadri.com Ref: Listing Code: 500184 Ref: Listing Code: HSCL BSE Limited National Stock Exchange of India Ltd Department of Corporate Services Exchange Plaza, C-1, Block-G P. J. Towers, 25th Floor, Bandra Kurla Complex, Dalal Stre
Slide 2: Himadri Reloaded: The Next Chapter
Himadri Reloaded The Next Chapter Investor Presentation | January 2026 Marked by Innovation, Resilience and a Commitment to Sustainable Growth
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Himadri Speciality Chemical Ltd (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for a
Slide 4: Q3 & 9MFY26 Highlights
Q3 & 9MFY26 Highlights Himadri The Next Chapter
Slide 5: 9MFY26 PAT surpasses PAT of FY25
9MFY26 PAT surpasses PAT of FY25 EBITDA (Rs. in Cr) PAT (Rs. in Cr) 9MFY26 PAT surpasses PAT of FY25 • Revenue stood at Rs. 3,303.80 crores 844 558 564 highlighting stability with a clear 726 path to capacity-driven growth 232 158 195 ahead 249 • Total sales increased to 4,28,572 MT, 222 142 depicti
Slide 6: 9MFY26 – EBITDA growth of 19% and PAT growth of 41%
9MFY26 – EBITDA growth of 19% and PAT growth of 41% Sales Volume (MT) Revenue (Rs. in Cr) Strategic focus on value-added products continues to fuel +3% -5% profitability growth 4,15,679 4,28,572 3,467 3,304 EBITDA per MT (Rs.) 9MFY25 9MFY26 9MFY25 9MFY26 +15% 16,934 EBITDA (Rs. in Cr) PAT (Rs. in Cr
Slide 7: Capex to more than double Speciality Carbon Black capacity
Capex to more than double Speciality Carbon Black capacity Current Status: Trial production started in December 2025 Brownfield expansion of a new speciality carbon black line of 70,000 MTPA Increasing the total speciality carbon black capacity to 1,30,000 MTPA making it world’s largest speciality c
Slide 8: Marking an exciting new chapter in the growing global market
Marking an exciting new chapter in the growing global market Current Status: Successfully delivered our first export shipment of Liquid Coal Tar Pitch in November 2025 to the Middle East from Mangalore Port Liquid Coal Tar Pitch Commissioned high temperature liquid coal tar pitch terminal at Haldia
Slide 9: Delivered our First-Ever Liquid Coal Tar Pitch Shipment to Middle East
Delivered our First-Ever Liquid Coal Tar Pitch Shipment to Middle East Total 3,600 tons of liquid coal tar pitch delivered in November 2025 to the Middle East from our Terminal at the New Mangalore Port. This shipment from the western coastline establishes a second export corridor for Himadri, along
Slide 10: Capital Infusion through Preferential Warrants
Capital Infusion through Preferential Warrants Post-Warrant Shareholding Promoters During the quarter ended 31 st December 2025, upon receipt of the balance consideration amount of Rs. 237 crores from 47.5% 52.5% the Promoters, the company has allotted one crore equity shares to the promoters and pu
Slide 11: ESG Excellence reaffirmed by EcoVadis with Platinum medal
ESG Exellence reaffirmed by EcoVadis with Platinum medal for the second consecutive year Himadri has secured the EcoVadis Platinum Medal for the second consecutive cycle (January 2026), placing the company in the top 1% of more than 1,50,000 companies assessed worldwide for its performance across Su
Slide 12: Himadri Certified as a Great Place To Work
Himadri Certified as a Great Place To Work® We are honoured to be recognized as a Great Place to Work® – a testament to the trust, engagement, and commitment of our people. This achievement reflects our strong, inclusive, and value-driven culture, which is the foundation of sustainable growth. It re
Slide 13: National Recognition for Long-Term Value Creation
National Recognition for Long-Term Value Creation Recognised as India’s Top Value Creator 2025 – Chemicals by Dun & Bradstreet India, reflecting Himadri’s commitment to responsible growth, operational excellence and long-term value creation. 12
Slide 14: Celebrating Commitment and Long-Term Excellence
Celebrating Commitment and Long-Term Excellence At Himadri, our success is driven by loyalty, dedication and shared purpose. We honoured our Long Service Awardees who have completed 10 and 20 years of service with us. 13
Slide 15: Milestone at the 19th Exceed Environment Award 2025
A Milestone Moment in Himadri’s Sustainability Journey at the 19th EXCEED ENVIRONMENT AWARD 2025 Champion (Outstanding) Outstanding Award in CSR for Category: Quality Management ''Building Futures, Empowering Communities'' Sector- Chemical & Fertilizer 14
Slide 16: Sustainability Report FY 2024–25
Shaping a Resilient, Responsible, and Future-Ready Enterprise: Sustainability Report FY 2024–25 Himadri’s Sustainability Report FY 2024–25 outlines its integrated approach to Environmental, Social, and Governance (ESG) performance and long-term value creation. The report highlights progress in clima
Slide 17: Company Overview
Himadri Company Overview The Next Chapter 16
Slide 18: Himadri's strategic roadmap to grow and accelerate towards 2028
Himadri’s strategic roadmap to grow and accelerate towards 2028 FY2026 FY2027 FY2028 Shifting Gears Towards High-Value Growth o Growth : Core Business o Growth : Core Business o Growth : Core Business o Speciality Carbon Black Expansion full o Trial production started in speciality year of operation
Slide 19: Unlocking new opportunities with focused investments through internal accruals
Unlocking new opportunities with focused investments through internal accruals Birla Tyres* LFP Speciality Carbon Black Speciality Chemicals Turnaround + Strategy Pioneer in India Forward Integration Vertical Integration Gain Market Share Capex Rs. 306 Cr Rs. 1,125 Cr Rs. 220 Cr Rs. 120 Cr Operation
Slide 20: Each acquisition made with a strategic purpose
Each acquisition made with a strategic purpose Collaborations poised to accelerate the development Investment in Sicona Battery Technologies and deployment of next-generation EVs and Energy Himadri has invested a total of ~Rs. 138.34 crores in Sicona to date, storage solutions entitling it to approx
Slide 21: R&D innovations for tomorrow's market
R&D innovations for tomorrow’s market Excelling while innovating Advanced R&D facilities are accredited by Global Techno- World class Consistent An innovative the National Accreditation Board for knowledge bank commercial team laboratory R&D mindset Testing and Calibration Laboratories (NABL), ensur
Slide 22: R&D led innovative product portfolio driving growth
R&D led innovative product portfolio driving growth Diversified Products Basket Carbazole Clean Power Natural Speciality Speciality Resource synthetic, Coal Tar Pitch Speciality Oils Agrochemical Carbon black Extraction hybrid & silicon Solutions Anode Material LFP Cathode OHT, PCR, EV, CV & Recycli
Slide 23: Products serving the high growth sunrise sectors
Products serving the high growth sunrise sectors Lithium – Ion Batteries Tyre Defence Aluminium Graphite Electrodes Paints, Plastic & Fibre Construction Chemical Infrastructure Anti Corrosive Material Wood Preservative Oils Power Specialized Products 22
Slide 24: Reliability and distinction are catalysts for client retention
Reliability and distinction are catalysts for client retention Strong client relationships, with long-term agreements Scale, efficiency and quality represent a competitive advantage that is difficult to replicate The brand names/logos mentioned are the property of their respective owners and are use
Slide 25: Core Business
Himadri Core Business The Next Chapter 24
Slide 26: Advancing speciality value chain
Advancing speciality value chain Coal Tar Pitch Positioned among the few global manufacturers of specialized pitches; consistently improved anode lifespan via process optimization. Speciality Carbon Black Launched a series of application-specific speciality blacks with superior performance parameter
Slide 27: New speciality carbon black grades
New speciality carbon black grades New Speciality Carbon Black Grades applications 8 Speciality Black Series with more than 60 Grades • Synthetic fibres • High-performance plastics • U.S. FDA-compliant applications ONYX COLORX Offer excellent Color and UV protection applications • Pressure pipes ELE
Slide 28: Durofresh: Unlocking value in B2C naphthalene balls market
DurofreshTM: Unlocking value in B2C naphthalene balls market Backed by decades of expertise and a strong legacy in naphthalene manufacturing, we possess the technical capability and quality assurance required to excel in consumer-facing markets. Capture greater value within its existing value chain
Slide 29: Leveraging existing infrastructure and expertise in coal tar derivatives
Leveraging the existing infrastructure and expertise in coal tar derivatives Future Plans Target Market Expected capex of Rs. 120 crores, plant to be commissioned by Q2FY27 Target markets : Domestic and global sectors Setting up facility to extract high value-added speciality products namely Forward
Slide 30: Entry into LiB Components
Himadri Entry into LiB Components The Next Chapter 29
Slide 31: Anode and cathode represent close to 65% of Li-ion cell cost
Together anode and cathode - represent close to 65% of the total Li-ion cell cost Our LFP Cathode Active Material Vision • To produce 2,00,000 MTPA of Lithium Iron Phosphate (LFP) Cathode Active Material, catering to 100 GWh of Li-ion Battery, in a phased manner over the next 5-6 years • 1st Commerc
Slide 32: Demand is surging toward higher-performance chemistries
Demand is surging and migrating toward higher-performance chemistries Cathode Material Landscape India is emerging as a strategic and trusted alternative for global battery supply chains • Market Projection : Cathode Material demand to reach 9.4 Mn tons annually by 2030 for global LiB cell productio
Slide 33: Advancing our work with LFP cathode active material
Advancing our work with LFP cathode active material To produce 2,00,000 MTPA of Lithium Iron Phosphate (LFP) Cathode Active Material, catering to 100 GWh of Li-ion Battery, in phases in 5-6 years 1st Commercial plant for LFP Cathode Active Material globally ex- China, for catering to the domestic &
Slide 34: Where we play a role
Where we play a role HIMADRI’S PRESENCE Upstream Downstream Exploration & Mining Cell Manufacturing Lithium Chemicals Cathode Active Material Refining of Lithium Concentrate to Lithium Best in Class & Sustainable Cathode Carbonate and Lithium Hydroxide Active Material Production Critical player in B
Slide 35: Primary cathode active material used now – NMC & LFP
Primary cathode active material used now – NMC & LFP Working of LFP battery LFP batteries use lithium iron phosphate as the Safety cathode material alongside a graphite electrode Safety with a metallic backing as the anode. fast fast charging Spec. charging Spec. capabilities energy capabilities ene
Slide 36: Well poised to cater to global demand for LiB raw materials
Well poised to cater to global demand for LiB raw materials LiB Growth Potential EV penetration in India rose to 7.3% in FY2025, up from 6.8% in FY2024, India Battery Energy Storage Demand indicating a rapid shift toward cleaner Li-ion battery demand is expected to grow by about 27% annually to reac
Slide 37: Powering the future through circular energy systems
Powering the future through circular energy systems We are the only Indian company selected The Global Availability of EV batteries for recycling is expected to increase 25% YoY till 2040 resulting in a huge volume influx. by the Indo German Science and Himadri is keen to play a significant role in
Slide 38: Strategic Acquisitions
Himadri Strategic Acquisitions The Next Chapter 37
Slide 39: Strategic stake in Sicona Battery Technologies
Strategic stake in Sicona Battery Technologies Exclusive technology licensing partnership with Sicona that grants Himadri the rights to access, localize and commercialise Sicona’s proprietary Silicon-Carbon (SiCx®) anode technology in India Sicona's Transformative Year: Innovative Technologies at Si
Slide 40: Strategic investment in IBC: Catalyzing global growth
Strategic investment in IBC: Catalyzing global growth Industry outreach Collaborating with global giants from South Korea, Japan and USA International Battery Company, Inc (IBC) is a USA silicon valley based full-service lithium-ion cell manufacturing company New product related developments special
Slide 41: Partnership with Invati Creations
Partnership is driven by a shared vision of producing LiB materials & innovative technologies About Invati Creations Strong focus on engineering Lithium-ion Engages in R&D of various molecules and Invati holds multiple patented and electrode materials for efficient energy nanotech solutions, address
Slide 42: Birla Tyres
Himadri Birla Tyres The Next Chapter 41
Slide 43: Birla Tyres - turnaround opportunity
Birla Tyres - turnaround opportunity Future Plans Link: https://birlatyre.com/ Focusing on building a comprehensive product portfolio of speciality tyres to service Off-Highway tyres (OHT), The Case for Acquisition Commercial Vehicles (CV), Agri, Industrial and EV segments ▪ Strategic fit with the C
Slide 44: Strong Domestic and Global Presence
Strong Domestic and Global Presence Birla Tyres is building a trusted reputation across India and several key international markets through its consistent focus on quality, reliability and customer satisfaction. Currently we have total 36 Distributors (30 Domestic + 6 Global) & 640+ Dealers. Domesti
Slide 45: Classic Strength, Reimagined for Now: Tyre Portfolio
Classic Strength, Reimagined for Now : A glimpse of our Tyre Portfolio 44
Slide 46: Collaborated with global customers & distributors at Automechanika Dubai
Collaborated with global customer & distributors at Automechanika Dubai 45
Slide 47: Krishi Darshan Expo 2026
Krishi Darshan Expo 2026 : powering every journey from Soil to Success Birla Tyres hosted a Kisan Samman Samaroh in Pipariya, Madhya Pradesh, on National Farmer Day, honouring over 100+ farmers and showcasing its farm tyre range 46
Slide 48: Sustainability Goals
Himadri Sustainability Goals The Next Chapter 47
Slide 49: Power the Future
Where sustainability meets innovation POWER THE FUTURE Transformation Unfolds: From Growing Carbon Value Chain to Promising Mobility and Energy Storage Opportunity We will address substantial part of the critical raw material requirements of Lithium-Ion Batteries 48
Slide 50: Net Zero Ambition
Scope 3 – Baseline Year 2023 (FY23-24) OUR NET ZERO Scope 1 – Baseline Year 2021 (FY 21-22) Scope 2 = 0, Baseline Year 2021 (FY 21-22) AMBITION Reduce Packaging Emission. Elimination of virgin plastic in Assumption: India will be regulated carbon Reduction of Upstream and down packaging by 100% mark
Slide 51: Sustainability Objectives 2025–26
Sustainability Objectives 2025 – 26 Objectives Measures Target FY 2026 Target FY 2025 Result FY 2025 Main Domain UNGC -SDGs Vision Zero Accident / Incident By 2025, Loss Time Injury Frequency Rate below 1(Vs 2021) <1 <1 0 People By 2025, Reduce Energy Intensity per metric ton of product sold (Vs Ene
Slide 52: Commendable recognition in maiden CDP assessment
Commendable recognition in maiden CDP assessment Achieved a commendable ‘B’ rating in its maiden CDP evaluation in 2024 for both Climate Change and Water Security This achievement places Himadri alongside over 24,700 organizations worldwide that are utilizing data-driven insights to promote environm
Slide 53: Working sustainably progressing responsibly
Working sustainably progressing responsibly Achieved ‘Merit’ in International CDP- Supplier Engagement Safety Award by British Safety Council during 2024 Assessment: A rating Joined the United Nations Global Awarded with [ICRA ESG] Compact (UNGC) as a direct Combined Rating 80, Exceptional signatory
Slide 54: Latest triumphs in excellence and innovation
Latest triumphs in excellence and innovation Honoured to have received Himadri honoured with Top four prestigious awards, Recognised with six prestigious Global Recognition at LACP recognising our efforts as awards at the 13th The Golden Honoured with the Golden Spotlight Awards 2024/25 Winners in:
Slide 55: Latest triumphs in excellence and innovation
Latest triumphs in excellence and innovation Himadri has secured ISCC PLUS certification Honoured with Silver Recognition for its Honoured to participate and contribute in a for the Mahistikry plant, reinforcing our presentation on Vision Zero Accident at the dialogue during the 20th National commit
Slide 56: Enhancing Climate Resilience through TCFD Report FY25
Enhancing Climate Resilience and Disclosure through TCFD Report FY25 Himadri had released its TCFD Report for FY 2024–25, demonstrating a strong commitment to climate risk transparency and strategic resilience. The report aligns with the Task Force on Climate-related Financial Disclosures (TCFD) fra
Slide 57: Financials
Financials Himadri The Next Chapter
Slide 58: Standalone Profit & Loss Statement – Q3 & 9MFY26
Standalone Profit & Loss Statement – Q3 & 9MFY26 Particulars (Rs. in Cr) Q3FY26 Q3FY25 Y-o-Y Q2FY26 Q-o-Q 9MFY26 9MFY25 Y-o-Y Net Revenue From Operations 1,132.97 1,131.81 0.10% 1,070.41 5.84% 3,303.80 3,466.79 (4.70%) Cost of Materials Consumed 712.82 763.25 675.60 2,092.47 2,407.43 Gross Profit 42
Slide 59: Consolidated Profit & Loss Statement – Q3 & 9MFY26
Consolidated Profit & Loss Statement – Q3 & 9MFY26 Particulars (Rs. in Cr) Q3FY26 Q3FY25 Y-o-Y Q2FY26 Q-o-Q 9MFY26 9MFY25 Y-o-Y Net Revenue From Operations 1,183.62 1,140.66 3.77% 1,071.03 10.51% 3,372.94 3,477.99 (3.02%) Cost of Materials Consumed 741.09 762.94 661.95 2,112.49 2,402.47 Gross Profit
Slide 60: Sustainable increase in financial performance
Sustainable increase in financial performance Revenue (Rs. in Cr) EBITDA (Rs. in Cr)* PAT (Rs. in Cr) +29% 4,596 844 558 4,172 4,185 632 411 +60% +86% 2,791 408 1,679 208 162 128 65 47 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 *Earnings before interest, tax, deprecia
Slide 61: Progressive returns on capital
Progressive returns on capital Sales Volume (MT) ROCE (%)* Cash Rich Company (Rs. in Cr) 371 5,52,206 34% +13% 4,75,582 28% 142 4,03,826 3,71,974 3,41,931 17% -200 -315 6% 5% -583 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 *Excludes Investment & CWIP On Standalone Bas
Slide 62: Contact
Company : CIN: L27106WB1987PLC042756 Ms. Monika Saraswat Company Secretary Email: monika@himadri.com www.himadri.com Mr. Sahil Sawalkar AGM - Strategy Email: sahil.sawalkar@himadri.com Investor Relations Advisors : Effort Efficiency MUFG Intime India Private Limited A part of MUFG Corporate Markets,
Himadri Speciality Chemical — Q3 FY2026 Earnings Presentation on 6ix