Himadri Speciality Chemical Ltd on Wednesday reported a 33 per cent year-on-year jump in net profit to Rs 134 crore for the quarter ending September 30, 2024 (Q2FY’25), driven by higher margins.
The revenue in Q2FY’25 stood at Rs 1,135 crore, reflecting a 13 per cent increase compared to Rs 1,005 crore in Q2FY’24. EBITDA surged 29.1 per cent to Rs 201 crore during the quarter, up from Rs 156 crore in the same quarter last year.
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Commenting on the performance, the CMD and CEO of Himadri Speciality Chemical Ltd, Anurag Choudhary, said, “Our balance sheet continues to remain strong with a positive cash balance of Rs 255 crore. Our strategic focus on profitability and a prudent balance sheet has contributed to better performance.”
“The successful completion of our first export shipment of liquid coal tar pitch in October 2024 paves the way for large global liquid coal tar pitch markets,” he said, highlighting the company’s export milestone.
Choudhary further outlined the company’s capital expenditure plans.
“Our investments in Birla Tyres Ltd are progressing well. We have planned additional capital expenditure to enhance our operational capabilities and improve efficiencies,” he said.
The company announced that its first commercial plant for LFP Cathode Active Material, with a 40,000 MTPA capacity, is scheduled to be operational by Q3FY’27.
Additionally, the expansion of a new speciality carbon black line with a 70,000 MTPA capacity is expected to be completed by Q3FY’26.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Oct 16 2024 | 5:28 PM IST