Himadri Speciality Chem L

NSE: HSCL · Chemicals & Petrochemicals · sector

₹522.25NSE close 2026-10-26

Key numbers

Market cap₹26,353 cr

Price₹522.25

52w high / low₹820 / ₹418

P/E30.8xSector median 30.8x

P/B5.1xSector median 2.7x

Book value₹101.8

Dividend yield0.11%Sector median 1.10%

ROE18.6%Sector median 6.7%

ROCE19.3%Sector median 9.1%

OPM19.4%Sector median 12.8%

Debt / equity0.23xSector median 0.23x

EV/EBITDA24.7xSector median 14.1x

Interest cover14.5x

Current ratio2.07x

Sales growth 3y+3.8%Sector median +8.1%

Profit growth 3y+51.5%Sector median +14.0%

PEG0.71x

Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 3 companies in Chemicals & Petrochemicals (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹860 cr vs borrowings ₹767 cr (FY26): cash is higher (net cash).
Operating profit covered interest 14.5x in the last 12 months.
No promoter shares are pledged.
Promoter holding rose by 0.92 percentage points in a year, to 52.49% (2026-09-30).
Operating cash flow was below net profit in 4 of the last 4 years (FY26, FY25, FY24, FY23).
Revenue was higher than a year earlier in 4 of the last 4 quarters.
Other income was 24% of net profit in the last 12 months.
Dividend paid in 5 of the last 5 financial years.
Price ₹522.25 on 2026-10-26: -36.3% from the 52-week high, +24.8% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹769.90 · low ₹398.60

Quarterly results

₹ cr	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	1,141	1,135	1,118	1,071	1,184	1,288	1,432	1,691
EBITDA	221	233	245	233	243	242	288	315
OPM %	19.4%	20.6%	21.9%	21.7%	20.5%	18.8%	20.1%	18.6%
Other income	12	14	27	36	47	62	56	42
Net profit	142	156	182	177	192	201	230	232
EPS (₹)	2.88	3.15	3.68	3.58	3.84	3.98	4.55	4.60
Revenue YoY					+3.8%	+13.5%	+28.0%	+57.9%
Profit YoY					+35.3%	+29.1%	+26.3%	+31.5%

Consolidated figures where filed. Latest quarter Sep 2026.

Profit & loss (yearly)

₹ cr	FY21	FY23	FY24	FY25	FY26	TTM
Revenue	1,679	4,172	4,185	4,613	4,661	5,595
EBITDA	131	369	645	854	962	1,087
Net profit	47	216	411	556	751	855
EPS (₹)	1.13	5.13	9.16	11.26	15.08	16.97
Revenue growth		+148.4%	+0.3%	+10.2%	+1.0%	+25.3%
Profit growth		+354.9%	+90.2%	+35.3%	+35.2%	+30.3%
Dividend / share (₹)	0.15	0.20	0.25	0.50	0.60

Compounded growth	3 years	5 years	Last 12 months
Sales	+3.8%	–	+25.3%
Net profit	+51.5%	–	+30.3%
EPS	+43.3%	–	–
Share price	–	-6.1% (2y)	+15.3%

Balance sheet

₹ cr	FY23	FY24	FY25	FY26
Shareholders' equity	2,280	3,046	3,722	4,707
Borrowings	836	600	309	767
Cash & equivalents	625	732	676	860
Total assets	3,678	4,449	4,656	6,306
Fixed assets	1,488	1,510	1,502	1,812
Capital work in progress	94	67	185	372
Investments	132	477	578	935
Receivables	505	656	633	696
Inventory	544	703	585	763
Payables	346	570	239	375

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY23	FY24	FY25	FY26
Cash from operations	54	405	447	382
Cash from investing	-397	-405	-235	-964
Cash from financing	377	7	-271	591
Capex	83	53	171	450
Free cash flow	-29	352	276	-68

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY23	FY24	FY25	FY26
ROE %	9.5%	13.5%	14.9%	16.0%
ROCE %	11.1%	17.5%	21.1%	19.5%
Debtor days	44	57	50	55
Inventory days	61	85	68	96
Payable days	39	69	28	47
Cash conversion cycle (days)	66	73	90	104
Working capital days	56	96	122	124

Shareholding

Holder	% (2026-09-30)
Promoters	52.49%
FIIs	7.32%
DIIs	2.85%
of which Mutual funds	0.73%
of which Insurance	2.09%
Government	0.00%
Public (non-institutions)	37.33%

Quarter	Mar 2025	Jun 2025	Sep 2025	Nov 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters %	51.61%	51.61%	51.57%	52.50%	52.50%	52.50%	52.50%	52.49%

Promoter group	%
Modern Hi-rise Private Limited	36.75%
Anurag Choudhary	8.58%
Amit Choudhary	3.52%
Shyam Sundar Choudhary	1.64%
Shikha Choudhary	0.73%
Sheela Devi Choudhary	0.59%
Himadri Credit and Finance Ltd	0.29%
Anooshka C Bathwal	0.22%
Rinku Choudhary	0.17%
Amritesh Choudhary	0.00%
Samridh Choudhary	0.00%
Shubhangm Choudhary	0.00%

Public holders above 1%	%
Narantak Dealcomm Limited	2.17%
Stock Broker	1.41%
VT Capital Market Private Limited	1.30%
Penguin Trading & Agencies Ltd	1.18%
Life Insurance Corporation of India	1.14%

4,25,426 shareholders. Pledged: 0.00% of promoter shares.

Peers in Chemicals & Petrochemicals

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
HSCL	₹26,353 cr	30.8x	5.1x	18.6%	19.3%	19.4%	+3.8%	0.11%
PCBL	₹10,839 cr	41.5x	2.7x	6.7%	8.5%	12.8%	+12.3%	2.09%
DICIND	₹493 cr	17.0x	1.1x	6.7%	9.1%	5.3%	–	–

All 3 companies in Chemicals & Petrochemicals →

Business segments (FY26)

Segment	Revenue	Share	EBIT	Margin
(a) Carbon materials and chemicals	₹4,367 cr	92.2%	₹828 cr	19.0%
(c) Others	₹274 cr	5.8%	₹28 cr	10.1%
(b) Power	₹96 cr	2.0%	₹81 cr	85.1%

Dividends & corporate actions

Ex-date	Action	Detail
2026-05-22	Dividend	Dividend - Re 0.80 Per Share
2025-05-23	Dividend	Dividend - Rs 0.60 Per Share
2024-06-07	Dividend	Annual General Meeting/Dividend - Re 0.50 Per Share
2023-06-09	Dividend	Annual General Meeting/Dividend - Re 0.25 Per Share
2022-09-20	Dividend	Annual General Meeting/Dividend - Re 0.20 Per Share
2021-09-21	Dividend	Annual General Meeting/Dividend - Rs 0.15 Per Share
2020-09-18	Dividend	Annual General Meeting/Dividend - Rs 0.15 Per Sharee
2019-09-17	Dividend	Annual General Meeting/Dividend - Rs 0.15 Per Share
2018-08-23	Dividend	Annual General Meeting/Dividend Re - 0.10 Per Share
2017-09-13	Dividend	Annual General Meeting/Dividend - Re 0.10 Per Share
2016-09-15	Dividend	Annual General Meeting And Dividend Re.0.05 Per Share
2015-09-14	Other	Annual General Meeting
2014-09-12	Dividend	Annual General Meeting / Dividend - Re 0.10/- Per Share
2013-09-13	Dividend	Annual General Meeting / Dividend - Re 0.10/- Per Share
2012-09-10	Dividend	Annual General Meeting And Dividend Re.0.10 Per Share
2011-09-19	Dividend	Annual General Meeting/Dividend Re 0.10 Per Share
2010-11-08	Split	Face Value Split From Rs.10/- To Re.1/-
2010-09-20	Dividend	Annual General Meeting And Dividend Re.1/- Per Share
2009-09-10	Other	Agm/Div-Re.1/- Per Share
2008-09-18	Dividend	Agm/Dividend - 20%

Documents

Links go to the original files on the exchange website.

About the company

Carbon Materials & Chemicals: Himadri's revenue is primarily derived from the sale of carbon materials and chemicals.


Sector	Commodities
Industry	Chemicals & Petrochemicals
Sub-industry	Carbon Black
Symbol	HSCL
BSE code	500184
ISIN	INE019C01026
Face value	₹1.0
Incorporated	1987-07-28
Website	www.himadri.com
Plants (India / abroad)	7 / 1

From the company's filings (BRSR FY26).

Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.