Kolkata- Himadri Speciality Chemical Ltd reported results for the quarter and year ended 31st March 2026.
FY26 Highlights:
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FY26 Revenue from operation stood at Rs. 4,660.7 Crores
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Q4FY26 Revenue from operations stood at Rs. 1288 Crores, up ~14% from Q4FY25
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Commenced first anode production facility at Mahistikry, West Bengal, with an initial capacity of 200 MTPA
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Commenced operations at a new 70,000 MTPA Speciality Carbon Black line at Mahistikry
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Stable volumes combined with higher margins drove strong performance for the year
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Strategic focus on value-added products continues to fuel profitability growth
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CMD & CEO- Mr. Anurag Choudhary, conferred Business Today India’s Best CEO Award 2026 (Chemicals) at BT MindRush 2026
Consolidated Financials
Commenting on the results and performance, Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical Ltd said, “FY26 was a year where ambition met execution, setting Himadri apart with record results. On a consolidated basis, the Company crossed a historic milestone, recording its highest-ever full-year EBITDA of Rs. 1,006 Crores, representing a ~19% year-on-year growth, Profit Before Tax (PBT) of Rs. 1,001 Crores, up ~24% YoY, and Profit After Tax (PAT) of Rs. 755 Crores, a strong ~36% increase over the previous year. This strong annual performance was reinforced by a robust close to the year, with EBITDA, PBT and PAT for Q4FY26 stood at Rs. 280 Crores, Rs. 268 Crores and Rs. 208 Crores, respectively, registering year-on-year growth of ~21%, ~19% and ~34% over Q4FY25. These outcomes highlight years of strategic discipline, operational excellence, and continued stakeholder trust. As we celebrate this achievement, we see it not as a summit, but as the foundation for an even more promising tomorrow.”
On 23rd April 2026, Himadri achieved a significant milestone with the commissioning of its first anode material production facility at Mahistikry, West Bengal, with an initial capacity of 200 MTPA. This facility represents the culmination of over a decade of rigorous in-house R&D on anode chemistry, through which Himadri has indigenously developed the complete technology stack—from raw material processing to finished anode material. A key differentiator of this platform is the use of a specially engineered, high-purity coal tar pitch, entirely produced in-house by Himadri, ensuring superior quality control, consistency, and performance. This backward integration, combined with proprietary process know-how, enables a fully integrated and self-reliant manufacturing ecosystem across the anode material value chain. Designed with the flexibility to incorporate alternative raw materials, the process architecture is inherently scalable and resilient to evolving market dynamics. With global demand for electric mobility and energy storage accelerating, Himadri is strategically building differentiated capabilities in advanced battery materials through innovation, deep integration, and a strong focus on sustainable chemistry.
FY26 was a landmark year for Himadri, as we consistently delivered on stakeholder commitments. Our core speciality chemicals business maintained strong momentum, supported by disciplined execution and sustained demand. We commenced operations at our new 70,000 MTPA Speciality Carbon Black line at Mahistikry, West Bengal, scaling total Carbon Black capacity to 250,000 MTPA, with 130,000 MTPA dedicated to Speciality Carbon Black. This positions Mahistikry as the world’s largest single-location Speciality Carbon Black facility and places Himadri among the top five global manufacturers of Speciality Carbon Black – significantly strengthening our ability to serve high-value applications across batteries, plastics, inks, paints, coatings, and conductive solutions, reinforcing our leadership in speciality solutions.
Birla Tyres marked a revival milestone in FY26 with operations commencing in Q1 and a refreshed brand identity that reaffirmed its legacy while signalling a forward-looking approach. Over the year, the brand expanded across India and select international markets, with a growing portfolio anchored by offerings such as KalaPatthar, Shaan+, BT339 and Ultra Trac, focused on durability, grip, mileage and performance. Its distribution network grew to 43 distributors and over 1,000 dealers, and in Q4, it launched two new tractor tyre series—AgriPlus and AgriWin—strengthening its agri-segment presence. Looking ahead, Birla Tyres has a robust pipeline of new products, with several launches planned in agriculture and mining.
During the year, Himadri’s performance and values were reinforced through prestigious recognitions. The Company earned the EcoVadis Platinum Medal for the second consecutive year, placing it among the top 1% globally for sustainability. It also received ISCC PLUS certification for responsible manufacturing, recognition for International Supply Chain Excellence in Speciality Chemicals, and honours at the EXCEED Environment Awards 2025. Himadri was recognised as a Great Place To Work®, featured among the Top 100 Fastest and Most Consistent Wealth Creators, and awarded Top Value Creator 2025 – Chemicals Collectively.
As we look ahead, growth at Himadri continues to be shaped by purposeful innovation, with R&D embedded at the core of our strategy, business model and culture. This integrated approach is driving steady progress across our strategic pillars. The commencement of our upcoming anthraquinone and carbazole facility, is on track in the coming quarters and will meaningfully reduce India’s dependence on imports across dyes and pigments.
The Company has decided to remain firmly focused on disciplined capital allocation to drive sustainable returns and maintain a robust ROCE profile. In line with this approach, execution of Phase I of our LFP cathode active material project is progressing as planned, with the first milestone capacity of 2,000 MTPA targeted for commencement by Q3FY27. The balance Phase I capacity will be progressively brought onstream over the subsequent 12 months in alignment with customer approvals, with FY29 envisaged as the year of full operations for Phase I.
During the year, we advanced our vision to become a global leader in clean-tech and energy materials through a technology licensing agreement with Sicona to localise and commercialise silicon-carbon anode technology in India. Acquisition of an equity stake in International Battery Company (IBC) has enabled Himadri to showcase real-world applications of its lithium-ion battery materials, leveraging IBC’s South Korea facility for validation, scale-up and customer engagement. Himadri is now gearing up for its next phase of growth, driven by strategic stability, long-term vision and strong confidence in its transformation journey, as it continues redefining materials and solutions for a cleaner, sustainable future.”
