Himadri Speciality Chemical Ltd. · NSE:HSCL
Himadri Speciality Chemical — FY2025 Earnings Presentation
61 slides from Himadri Speciality Chemical's earnings presentation, Apr 21, 2025
Slide 1: Exchange filing cover letter
Ref. No: HSCL / Stock-Ex/2025-26/14 Date: 21/04/2025 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 Stree
Slide 2: Investor Presentation | April 2025
Investor Presentation | April 2025
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: Himadri FY25: Cash Focused Growth
Himadri FY25 : Cash Focused Growth Shifting Gears FY30 : Future Growth Drivers Execution On Track to Deliver ESG-focused innovations
Slide 5: Himadri FY25: Cash focused Growth
Himadri FY25 : Cash focused Growth Revenue (Rs. in Crs) EBITDA (Rs. in Crs)* PAT (Rs. in Crs) +29% 4,596 4,172 4,185 844 558 632 2,791 +60% 411 +86% 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, depreciation, am
Slide 6: Himadri FY25: Cash focused Growth
Himadri FY25 : Cash focused Growth Sales Volume (MT) ROCE (%)* Cash Rich Company (Rs. in Crs) 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 Standalon
Slide 7: FY25: PAT crosses Rs. 550 Crores
FY25 : PAT crosses Rs. 550 Crores Add Text Here SALES VOLUMES RECORD EBITDA RECORD PAT IN CASH RICH DISTINCTIVE ROCE IN FY25 IN FY25 FY25 COMPANY Net positive cash Sales Volumes EBITDA increased by PAT increased by 36% balance of Rs. 371 34% (excl. investment increased by 16% to 33% yoy to Rs. 844 y
Slide 8: Q4FY25: PAT crosses Rs. 150 Crores
Q4FY25 : PAT crosses Rs. 150 Crores Add Text Here SALES VOLUMES RECORD EBITDA RECORD PAT IN Q4FY25 IN Q4FY25 IN Q4FY25 Sales Volumes decreased by 3% to EBITDA increased by 31% yoy to PAT increased by 38% yoy to Rs. 158 1,36,527 MT in Q4FY25 Rs. 232 Crores in Q4FY25 Crores in Q4FY25 1 2 3 On Standalo
Slide 9: Robust growth continues…
Robust growth continues… Sales Volumes (MT) Sales Volume (MT) Revenue (Rs. in Crs) 16% 5,52,206 4,75,582 1,40,317 1,39,175 1,39,057 1,37,447 1,36,527 1,177 1,200 1,135 1,132 1,129 FY24 FY25 Revenue (Rs. in Crs) 10% 4,596 4,185 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 FY2
Slide 10: …with sustained increase in Profitability
…with sustained increase in Profitability EBITDA (Rs. in Crs) PAT (Rs. in Crs) EBITDA (Rs. in Crs) 33% 844 232 632 158 222 201 142 134 188 123 177 115 FY24 FY25 PAT (Rs. in Crs) 36% Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 558 411 Significant growth led by focus on High
Slide 11: Capital Disciplined Balance Sheet
Capital Disciplined Balance Sheet Total Borrowings (Rs. in Crs) Cash & Cash Equivalents (Rs. in Crs) Cash Rich Company ( Rs. in Crs) 836 742 371 719 679 636 600 142 578 308 -200 263 -315 136 -583 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25
Slide 12: Shifting Gears FY30: Future Growth Drivers
Himadri FY25 : Cash Focused Growth Shifting Gears FY30 : Future Growth Drivers Execution On Track to Deliver ESG-focused innovations
Slide 13: New Growth Wave
Opportunities in all the phases of journey continues… Existing Products Clean technology & innovation Speciality Carbon Black SNF Anthraquinone Resource Anode Agrochemical Extraction Material Solutions Coal Tar Speciality LFP Cathode Recycling for Speciality Carbazole OHT, PCR, EV Pitch Oils Active
Slide 14: Future Growth Drivers
Future Growth Drivers 1. Himadri’s LFP 4. High Value-Added Cathode Active Speciality Products Material 2. Birla Tyres 5. Sicona Acquisition 3. Speciality Carbon 6. Invati Acquisition Black Expansion 13
Slide 15: 1. Himadri's LFP Cathode Active Material
1. Himadri’s LFP Cathode Active Material Bringing breakthrough Innovation to Sustainable Sourcing the Indian and Global LiB Industry To produce 200,000 MTPA of Lithium Iron Phosphate (LFP) Cathode Active Material, catering to 100 GWh of Li-ion o Long term partnership with lithium Battery, in phases
Slide 16: Where we play a role
Where we play a role HIMADRI’S PRESENCE Lithium Chemicals Cathode Active Material Upstream Downstream Refining of Lithium Best in Class & Exploration & Mining Concentrate to Lithium Sustainable Cathode Cell Manufacturing Carbonate and Lithium Active Material Hydroxide Production 15
Slide 17: Cathode Material Dynamics: Himadri's Strategic Advancements
Cathode Material Dynamics : Himadri’s Strategic Advancements Pioneering Innovation and Sustainable Growth in Cathode Material Landscape Large Global and Domestic Opportunity Market Projection : Cathode Material demand to reach 9.4 million tonnes annually by 2030 for global LiB cell production Domest
Slide 18: 2. Birla Tyres Ltd - Acquisition Highlights
2. Birla Tyres Ltd - Acquisition Highlights ▪ Himadri Speciality Chemical Ltd (HSCL, Strategic Partner) along with Resolution Applicant - Dalmia Bharat Refractories Limited (DBRL) participated in the corporate insolvency resolution process of Birla Tyres Limited. ▪ LOI from the Resolution Profession
Slide 19: Birla Tyres Limited – Turnaround Opportunity
Birla Tyres Limited – Turnaround Opportunity Having successfully forward integrated from Oil to Carbon Black, then to Speciality Carbon Black, Himadri stands at the threshold of an exciting transformation moving forward towards end customer, venturing into the world of Tyres Existing capability Stra
Slide 20: Value Acquisition
Value Acquisition The total acquisition cost is Rs. 306 Crores. Additional capex is being put in to make the plant completely operational The replacement Time consumed to Eligible for Sufficient land Forward integration cost for creating create the asset investment related available for the into hig
Slide 21: 3. Capex – Speciality Carbon Black Expansion
3. Capex – Speciality Carbon Black Expansion Brownfield expansion of a new speciality carbon black line of 70,000 MTPA CAPEX TO MORE Increasing the total speciality carbon black capacity to 130,000 MTPA making it world’s largest speciality carbon black capacity at single site THAN DOUBLE SPECIALITY
Slide 22: Applications
New Speciality Carbon Black Grades 8 Speciality Black Series with more than 60 Grades ONYX JETEX ELECTRA KLAREX Speciality Carbon Blacks are Speciality blacks are designed to KLAREX, “clean” speciality blacks Speciality blacks offer low sulfur, premium grades that offer deep provide reliable color a
Slide 23: Applications
New Speciality Carbon Black Grades 8 Speciality Black Series with more than 60 Grades COLORX BARONX VIRTEX ENERGEX COLORX is a powder black that BARNOX is latest innovation in Virtex black carbon series are for ENERGEX is an Engineered powder function exceptionally well as a speciality blacks and is
Slide 24: 4. High Value-Added Speciality Products Capex
4. High Value-Added Speciality Products Capex ESTIMATED CAPEX SOURCE OF FUND COMPLETION Rs. 120 crores Internal Accruals Expected commencement of operations by Q2 FY27 PURPOSE Setting up facility to extract high value-added speciality products namely Anthraquinone & Carbazole from existing coal tar
Slide 25: Market Dynamics of new High Value-Added Speciality Products
Market Dynamics of new High Value-Added Speciality Products Himadri will forward integrate its existing coal tar distillates to produce a High Value-Added Speciality Products – Anthraquinone and Carbazole Applications Anthraquinone Dye, Paper, Wood Pulp, Hydrogen Peroxide, Agriculture etc. Products
Slide 26: Strategic Rationale
Strategic Rationale Delivering high-value speciality chemicals tailored for niche industry applications, paving the way for robust profitability Target Market Our target markets encompass both domestic and global sectors Forward Integration Forward integrating from our existing coal tar distillates
Slide 27: 5. Sicona Acquisition
5. Sicona Acquisition- Initiative in line with long term strategy Over the past year, Sicona Battery Technologies has achieved significant milestones that underscore its commitment to advanci ng battery technology and expanding its global footprint Sicona's Transformative Year: Key Updates and Miles
Slide 28: 6. Invati Creations - Acquisition Highlights
6. Invati Creations - Acquisition Highlights About Invati Creations Acquisition cost • Invati, founded by alumni from IIM Kolkata and IIT Kharagpur, has a strong focus on engineering Lithium-ion electrode materials for efficient energy 40% stake for a storage with higher energy density and longer ba
Slide 29: Execution On Track to Deliver
Himadri FY25 : Cash Focused Growth Shifting Gears FY30 : Future Growth Drivers Execution On Track to Deliver ESG-focused innovations
Slide 30: Operations at Birla Tyres to commence by June 2025
Operations at Birla Tyres to commence by June 2025 Resolution plan submitted jointly by HSCL and DBRL for acquisition of Birla Tyres Limited approved by Resolution Approved - Hon’ble NCLT, Kolkata Bench on 19th October, 2023 During FY 2024-25, extensive work has been underway in full swing for revam
Slide 31: Introduced ENERGEX speciality black series
Introduced ENERGEX speciality black series Energex Series for Conductive ink and Coating, ESD and EMI shielding, Toughened and conductive polymer, Lead Acid Battery, Lithium -ion battery Grades LB 13 LB 73 LB 75 LB 95 Li+7536 Li+8536 C-Li 200 C-Li 300 Key Features Ease of Ultra high Excellent Improv
Slide 32: Update on Other Projects
Update on Other Projects New Speciality High Value-Added LFP Cathode Carbon Black Line Speciality Products Expected Date of Commencement Phase 1: Q3 FY 2027 Q3 FY 2026 Q2 FY 2027 Planned Capex Rs. 1,125 Cr Rs. 220 Cr Rs. 120 Cr Status On Schedule On Schedule On Schedule 31
Slide 33: Himadri Achieves EcoVadis Platinum Medal
Himadri Achieves EcoVadis Platinum Medal Himadri Speciality Chemical Ltd. proudly announces its recognition with the EcoVadis Platinum Medal, placing the company amon g the top 1% of over 130,000 companies assessed globally for sustainability practices. This distinction reflects the quality of th e
Slide 34: Himadri secured 'B' rating in CDP assessment
Himadri secured ‘B’ rating in CDP assessment Himadri Speciality Chemical Ltd, has 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 -
Slide 35: Himadri achieved 'Merit' in International Safety by British Safety Council
Himadri achieved ‘Merit’ in International Safety by British Safety Council Himadri Speciality Chemical Ltd, has achieved ‘Merit’ in International Safety Award by British Safety Council for demonstrat ing a strong commitment to good health and safety management during 2024 Achieving a 'Merit' in the
Slide 36: Awards & Achievement (1/3)
Awards & Achievement (1/3) 'Company of the Year' at India Chem 2024, by the Dept. of Chemicals and Petro-Chemicals in partnership with FICCI and EY 35
Slide 37: Awards & Achievement (2/3)
Awards & Achievement (2/3) Recognized with three prestigious awards at the Awarded the coveted ''Golden Peacock Received the 2024 DET Hurun Award for Global CSR Excellence & Leadership Awards 2025 Outstanding Contribution to India’s Manufacturing Award for HR Excellence 2024'' at IOD’s Economy at th
Slide 38: Awards & Achievement (3/3)
Awards & Achievement (3/3) EXCEED Green Future Awards 2024 SA800 Certified Company DEI Crusader Award for High Reputation 2024 The Eastern India Leadership Awards 2024 37
Slide 39: ESG-focused innovations
Himadri FY25 : Cash Focused Growth Shifting Gears FY30 : Future Growth Drivers Execution On Track to Deliver ESG-focused innovations
Slide 40: Direct Signatory of UNGC
Direct Signatory of UNGC (United Nation Global Compact) We've joined the United Nations Global Compact (UNGC) as a direct signatory. This marks a pivotal moment for us, as it demonstrates our alignment with global sustainability principles and our commitment to upholding ethical business practices o
Slide 41: Where Sustainability Meets Innovation
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 40
Slide 42: Sustainable business model powered by in-house R&D
Sustainable business model powered by in-house R&D Addressing the need for a 100% of the electrical green, long-term EV and energy requirement being renewable energy solution met by inhouse generated by providing critical raw clean power material Energy Conservation through Waste Heat Recovery Syste
Slide 43: Net Zero Roadmap
Net Zero Roadmap Research Adapt • Explore innovative methods for capturing • Implement new energy sources and and transforming carbon emissions. technology advancements. • Utilize upcoming technologies to capture • Integrate renewable energy solutions for and convert carbon dioxide into value- reduc
Slide 44: Net Zero Roadmap (Scope 1, 2 & 3)
Net Zero Roadmap (Scope 1, 2 & 3) Scope 3 – Baseline Year 2023 (FY23-24) OUR NET ZERO To Scope 1 – Baseline Year 2021 (FY 21-22) AMBITION Scope 2 = 0, Baseline Year 2021 (FY 21-22) Reduce Packaging Emission. Elimination of virgin plastic in Assumption: India will be regulated carbon Reduction of Ups
Slide 45: Sustainability Objectives 2025–26
Sustainability Objectives 2025 – 26 44
Slide 46: Journey of Transformation
JOURNEY OF TRANSFORMATION
Slide 47: Himadri: Transformation Unfolds
Himadri : Transformation Unfolds From Growing Carbon Value Chain to Promising Mobility and Energy Storage Opportunity 2011 to 2021 Portfolio of Few Promising Growth Products » Aluminium Grade Pitch » Heavy Creosote Oils Opportunity » Anthracene Oil/Carbon Black » Graphite Grade Binder Pitch 2010 » G
Slide 48: Applications across Industries
Applications across Industries Paints, Plastic & Fibre Graphite Electrodes Anti Corrosive Material Defence Construction Chemical Aluminium Lithium – Ion Batteries Infrastructure Rubber Industries Wood Preservative Oils Power Specialized Products 47
Slide 49: Marquee Clients across Industries
Marquee Clients across Industries The brand names/logos mentioned are the property of their respective owners and are used here for identification purpose only 48
Slide 50: Sustainable Growth in Core Business through Value-added products
Sustainable Growth in Core Business through Value-added products Our Core Business will continue to deliver strong growth Coal Tar Pitch Developed specialized pitch – one of the very few global manufacturers and Improved life of anodes through continuous process improvements Carbon Black Launched a
Slide 51: Positioned strong to cater the global demand for LiB raw materials
Positioned strong to cater the global demand for LiB raw materials LiB Growth Potential Li-ion battery demand is expected to grow by about 33% India Battery Energy Storage Demand annually to reach around 4,700 GWh by 2030.* ~4,700 260 ~6x 162 ~1,700 70 ~700 40 3 8 2022 2025 2030 2022 2025 2030 Mobil
Slide 52: Positioned strong to cater the global demand for LiB raw materials
Positioned strong to cater the global demand for LiB raw materials LiB Recycling Recycling of Lithium-ion Batteries (LiB) will play a significant role: 1. Lowering the dependency on mined minerals and providing a circular economy structure 2. Reducing the total CO₂ emission The Global Availability o
Slide 53: Primary Cathode Active Material Used now – NMC & LFP
Primary Cathode Active Material Used now – NMC & LFP Safety Working of LFP battery fast charging Spec. capabilities energy LFP batteries use lithium iron phosphate as the cathode material alongside a graphite electrode with a metallic backing as the anode. cost Spec. power lifespan Unlike many catho
Slide 54: Key Takeaways
Key Takeaways Unparalleled access to growth opportunities High Value Product Strong Product Right Capacity Strong R&D Pipeline Clientele Leadership Diversified Global Cutting Edge Strategic End Markets Management Technologies Strong Brand Location Team Transformation Unfolds Addressing the needs of
Slide 55: Financial Performance
FINANCIAL PERFORMANCE
Slide 56: Standalone Profit & Loss Statement – Q4 & FY25
Standalone Profit & Loss Statement – Q4 & FY25 Particulars (Rs. in Crs) Q4FY25 Q4FY24 Y-o-Y Q3FY25 Q-o-Q FY25 FY24 Y-o-Y Net Revenue From Operations 1,129.01 1,176.95 -4.07% 1,131.81 -0.25% 4,595.80 4,184.89 9.82% Cost of Materials Consumed 744.55 852.68 763.25 3,151.98 3,035.15 Gross Profit 384.46
Slide 57: Consolidated Profit & Loss Statement – Q4 & FY25
Consolidated Profit & Loss Statement – Q4 & FY25 Particulars (Rs. in Crs) Q4FY25 Q4FY24 Y-o-Y Q3FY25 Q-o-Q FY25 FY24 Y-o-Y Net Revenue From Operations 1,134.64 1,176.95 -3.59% 1,140.66 -0.53% 4,612.63 4,184.89 10.22% Cost of Materials Consumed 744.56 850.37 762.94 3,147.03 3,030.27 Gross Profit 390.
Slide 58: Standalone Balance Sheet
Standalone Balance Sheet Particulars (in Rs. Crs.) Mar’ 25 Mar’ 24 Particulars (in Rs. Crs.) Mar’ 25 Mar’ 24 ASSETS EQUITY AND LIABILITIES Non-Current Assets 2,401.07 2,084.39 EQUITY 3,647.53 2,981.21 Property, Plant and Equipment 1,448.23 1,457.38 Equity Share Capital 49.38 49.26 Capital work-in-pr
Slide 59: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (in Rs. Crs.) Mar’25 Mar’24 Particulars (in Rs. Crs.) Mar’25 Mar’24 ASSETS EQUITY AND LIABILITIES Non-Current Assets 2,504.76 2,141.82 EQUITY 3,770.94 3,042.79 Property, Plant and Equipment 1,502.43 1,510.22 Equity Share Capital 49.38 49.26 Capital work-in-prog
Slide 60: Cash Flow Statement
Cash Flow Statement Standalone Consolidated Particulars (Rs. Crs.) Mar-25 Mar-24 Mar-25 Mar-24 Profit Before Tax 807.73 573.14 806.17 573.86 Adjustments for: Non-Cash Items / Other Investment or Financial Items 47.71 70.86 56.47 75.40 Operating profit before working capital changes 855.44 644.00 862
Slide 61: Company and Investor Relations contacts
Company : CIN: L27106WB1987PLC042756 Ms. Monika Saraswat Mr. Sahil Sawalkar Company Secretary AGM - Strategy Email: monika@himadri.com Email: sahil.sawalkar@himadri.com www.himadri.com Investor Relations Advisors : MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUF
Himadri Speciality Chemical — FY2025 Earnings Presentation on 6ix