Rs 220,00,00,000 capex plan: This speciality chemicals company is into expansion of business & announced stellar results; promoters & DIIs increase stake!
The stock gave multibagger returns of 250 per cent in just 1 year and a whopping 700 per cent in 3 years.
Himadri Speciality Chemical Limited, one of India's leading speciality chemical companies manufacturing EV battery materials, carbon black and SNF among other value-added products declared its robust financial results for FY24. Here are the details:
According to its Quarterly Results, the net sales increased by 14.39 per cent to Rs 1,176.95 crore, operating profit increased by 40.98 per cent to Rs 191.89 crore and net profit increased by 51.14 per cent to Rs 115.18 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 0.31 per cent to Rs 4,184.89 crore, operating profit increased by 60.96 per cent to Rs 687.59 crore and net profit increased by 90.25 per cent to Rs 410.68 crore in FY24 compared to FY23.
Additionally, the company announced a 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 the world’s largest speciality carbon black capacity at a single site) at an estimated capex of Rs 220 crore which is scheduled to be operational within 18 months.
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Himadri Speciality Chemical Ltd, a leading global manufacturer focused on innovation and sustainability, is a pioneer in lithium-ion battery materials production in India. Their diverse product range, including speciality carbon black, coal tar pitch, and advanced materials, caters to a wide array of industries like paints, plastics, and construction. Himadri not only exports to 49 countries but also prioritizes environmental responsibility with zero-liquid discharge facilities and clean energy use for over 90 per cent of their operations. Through their commitment to research and development, Himadri is continuously developing new business opportunities and making a positive impact on the speciality chemicals industry worldwide.
The company has a market cap of over Rs 18,000 crore. The promoters of the company have increased their stake to 50.29 per cent and DIIs have increased their stake to 2.12 per cent in March 2024 compared to 44.79 per cent and 0.63 per cent respectively in December 2023. The stock gave multibagger returns of 250 per cent in just 1 year and a whopping 700 per cent in 3 years. Investors should keep an eye on this speciality chemical stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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