Kolkata 20 July 2023: Himadri Speciality Chemical Limited reported results for the quarter ended 30th June 2023.

Highlights of Standalone Financials Q1FY24:

• Revenues decreased by 9.1% to Rs. 951 Crs in Q1FY24 from Rs. 1047 Crs in Q1FY23
• EBITDA increased by 54% to Rs. 131 Crs in Q1FY24from Rs. 85 Crs in Q1FY23
• PATincreased by 125.2% to Rs. 88 Crs in Q1FY24 from Rs. 39 Crs in Q1FY23
• Net Debt to Equity at 0.47x
•      ICRA Rating revised to Positive from Stable

 Highlights of Standalone Financials:

Commenting on the results and performance, Mr. Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical Ltd said, “We are pleased to announce the robust performance of Himadri in Q1FY24. Our performance during this period is attributable to the consistent move towards value-added products.

At Himadri, sustainability is at the forefront of our business. Our business priorities are aligned with global sustainability goals. We have completed our materiality assessment and defined sustainability priorities and goals for the organization.

We recognize the pivotal role of lithium-ion batteries (LiB) in driving sustainable growth in the foreseeable future. The LiB technology has evolved and stabilized over the last few decades to become commercially feasible across all segments viz. electric vehicles, energy storage, and consumer electronics. Other alternative technologies will undergo a development curve to attain technical and commercial feasibility. LiB will be a frontrunner technology and a key global growth driver for next few decades.

With our continued investment in research and development, we aim to enhance LiB performance, safety, and recyclability, ensuring they play a critical role in shaping a greener and more sustainable world. We are actively positioning ourselves to cater to a significant portion of the global demand for LiB raw materials. To accomplish this, we are strategically building a robust supply chain that aligns with our vision of sustainable and growth-focused business practices.

In line with our commitment to exploring innovative technologies, we have recently made a strategic investment in Sicona Battery Technologies, based in Sydney. Sicona specializes in high-capacity silicon anode technology for lithium-ion batteries, which enables electric mobility and renewable energy storage. This investment aligns with our vision to produce high-quality anode materials and reinforces our commitment to staying at the forefront of battery material advancements.

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.”