Kolkata 19th October 2023: Himadri Speciality Chemical Limited (listed) reported results for the quarter and six month ended 30th September 2023.
Highlights of the quarter:
- Revenues decreased by 5.1% to Rs. 1004.52 Crs in Q2FY24 YoY
- EBITDA increased by 63.6% to Rs. 156 Crs in Q2FY24 YoY
- PAT increased by 246.2% to Rs. 100.84 Crs in Q2FY24 YoY
- Recorded highest-ever sales volume
Commenting on the results and performance, Mr. Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical Ltd said: I am extremely happy to share with you all that Himadri in Q2FY24 has achieved a milestone of crossing Rs. 100 Crs of PAT. Sustainability has always been at the heart of our operations. With our expanding global footprint, we have built a robust Environment, Social, and Governance (ESG) framework. We have already set ambitious goals to achieve net-zero emissions by 2050 with interim targets for 2025 and 2030. As per our present performance status, we are ahead of our annual objective.
We have launched zero accident vision to preserve best in class safety at workplace. Through our state-of-the-art facilities, we continuously strive to develop cutting-edge solutions that meet the evolving needs of our customers and minimizing its environmental impact. The business has shown significant improvements in profitability largely attributable to our business strategy to move directionally towards value-added products. We recorded highest ever volumes in our business in the last quarter along with increased margins per MT.
While our core business continues to deliver very strong set of numbers and the demand for the products in the future also remains strong, we are excited with the developments and the progress that we have achieved with the help of our research team in the areas of LiB Battery materials. Global demand for batteries is increasing, driven largely by the imperative to reduce climate change through electrification of mobility and the broader energy transition.
Corresponding to our vision of playing a critical role in LiB value chain, our R&D is making significant progress in product development for both Cathode Active Material and Anode Active Material. Simultaneously, we are progressing in our supply chain relationships, capabilities to manufacture at scale and customer relationships.
With our continued investment in R&D and our strategic global partnerships, we aim to enhance LiB performance and safety, ensuring they play a critical role in shaping a greener and more sustainable world. As we move forward, we remain committed to building a sustainable business with a robust product pipeline, a strong clientele, and cutting-edge technologies. Our focus on serving diversified end markets, achieving product leadership, and making continuous financial progress will further drive our growth and success.