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Midap chemical stock Himadri Speciality Chemical hit its 52-week high of ₹ 642.40 in intraday trade on Monday, 4 May, looking set to extend gains for the ninth consecutive session.
Himadri Speciality Chemical's share price opened at ₹620.25 against its previous close of ₹607.50 and jumped 6% to its 52-week high of ₹642.40 during the session.
Himadri Speciality Chemicals recently reported a 13.5% year-on-year (YoY) increase in consolidated revenue to ₹1,288 crore. EBITDA rose 21.15% YoY to ₹280 crore, with operating margin expanding to 21.74%. Net profit surged 33.5% YoY to ₹207.53 crore
As per BSE data, the chemical stock has gained over 30% in three months, while year-to-date, it is up 24%.
The stock has been in the green for nine consecutive sessions. In April, it jumped early 38%.
On a longer timeframe of three to five years, the stock has jumped 412% and 1,227%, respectively, while over the last year, it has clocked a gain of 39%.
Ravi Singh, Chief Research Officer (Research) at Master Capital Services, highlighted that the Himadri Speciality Chemical business model has reinvented itself over the past few years.
"The company, once seen largely as a coal tar pitch and carbon black story, is now a layered play across speciality chemicals, advanced carbon materials and EV battery components. The company's strong growth prospects across speciality chemicals and battery materials offer a meaningful appreciation opportunity over a long-term horizon," said Singh.
"The Mahistikry expansion makes Himadri the world's largest single-location speciality carbon black plant, scaling total carbon black capacity to 250,000 MTPA and placing it among the top global producers serving high-value applications across batteries, tyres, plastics, inks and coatings," said Singh.
"The maiden 200 MTPA anode material facility at Mahistikry, built on over a decade of in-house R&D and fed by the company's own high-purity coal tar pitch, marks a formal entry into the lithium-ion battery value chain. Further, the LFP cathode active material plant with the first phase planned for Q3FY27, takes that integration a step further and positions Himadri as a meaningful domestic supplier for EV batteries and energy storage at a time when India is actively pushing import substitution," Singh added.
According to Singh, the current valuations appear to largely price in the recent developments.
For FY26, the company reported a net profit of ₹750 crore. According to reports, the chemical player aims to double its profit by FY28, focussing on focus on high value growth, diversification to drive business resilience and significant sustainable growth in profitability.
“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,” said Anurag Choudhary, Chairman and CEO, Himadri Speciality Chemicals.
The company said for FY27, it aims to ramp up the capacity of Birla Tyres and enter the high-margin off-highway tyres (OHT) and commercial vehicle (CV) segment.
Moreover, in its core chemicals business, the company is planning forward integration to produce anthraquinone and carbazone, which, as per the company. is expected to be completed by Q2FY27.
“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," Choudhary added.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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