Total expenses grew 3.75% YoY to Rs 946.78 crore in the December 2024 quarter. Cost of materials consumed stood at Rs 780.57 crore (up 0.9%) while employee benefits expenses were at Rs 37.43 crore (up 39.2% YoY) during the period under review.

On the segmental front, revenue from the carbon materials and chemicals business stood at Rs 1,134.50 crore (up 8.38% YoY), and power business was at Rs 28.05 crore (down 0.28% YoY) during the period under review.

On the Capex front, the company has allocated Rs. 120 crore to set up a facility for producing high-value-added specialty products.

EBITDA stood at Rs 222 crore in Q3 FY24, registering the growth of 31.36% as compared with Rs 169 crore in Q3 FY23.

The company stated that it recorded a sales volume of 137,447 MT in the third quarter, up by 10.82% YoY increase.

Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical, said, “Himadri has reported robust performance across its portfolio of products. Our export portfolio is strengthening, particularly bolstered by the commencement of our high-temperature Liquid Coal Tar Pitch export terminal at Haldia Port in October 2024.

Aligned with our vision to expand into high-value products, we have planned a new capex for production of speciality products at an investment of Rs. 120 Crs, funded through internal accruals. This facility will enable us to extract high-value specialty products, including Anthraquinone, Carbazole, Fluorene from existing coal tar distillates at our existing facility and is expected to commence operations within the next 18 months. These products have application in dyes, pigments, pharma and various other industries.

The EV sector in India is poised to attract $40 billion in investments, with 70% of this allocated to Lithium-ion Battery (LiB) manufacturing. Additionally, in late 2024, the Government of India approved a $ 1.3 billion incentive scheme for EVs, with one-third of the funds dedicated to the PM E-Drive scheme. For LiBs, in the cathode active material space, LFP continue to be the leading technology, with graphite anodes dominating the anode technology. Silicon-carbon based Anodes are well poised to bring about significant improvement in charging times, increase in Energy Density and significant increase in range coverage for EVs, thus helping to popularize EVs from an end-user's perspective.

The revamp of Birla Tyres is progressing at full speed, and we are set to commence commercial operations soon. Over the next two to three years, we will be ramping up production across various tyre segments. We are scaling up capacity at our Singur facility to enhance carbon black production from 180,000 MTPA to 250,000 MTPA by Q3 FY26. Our specialty carbon black capacity will rise from 60,000 MTPA to 130,000 MTPA, positioning us as the fourth-largest global producer in this high-value segment.”

Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals. The company has operations in India and caters to both domestic and international markets.

Shares of Himadri Speciality Chemical rose 0.20% to Rs 546.15 on the BSE.