Himadri Specialty Chemicals - Profit To Double In Three Years, With Better Margins, RoCE: Anand Rathi

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Anand Rathi Report

Positive about its battery chemicals’ business, Himadri Specialty Chemicals Ltd. intends to double profit in three years to ~Rs 8 billion, thanks to its specialty carbon black capacity expansion, liquid coal-tar pitch exports commencing, debottlenecking 20% of CTP capacity and the rising share of value-added products (eg, oils).

It expects no huge revenue growth in FY25 owing to lower realisations. Volume growth, however, is likely to be good. For its lithium-iron phosphate expansion, it expects to receive land by Q3 FY25, with commercialisation in FY27.

Besides, it is coming up with a pilot plant for LFP. It is revamping the recently acquired assets of Birla Tyres, which would contribute considerably to revenue from FY26 (the plant is expected to re-start in December 2024).

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Anand Rathi Himadri Specialty Chemicals Update.pdf

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