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Himadri Speciality Chemical Limited announces quarterly and yearly audited results

Himadri Speciality Chemical Limited announces quarterly and yearly audited results

India Blooms News Service | @indiablooms | 30 May 2019, 09:57 am

Kolkata, May 30 (IBNS): Himadri Speciality Chemical Ltd., the largest vertically integrated Speciality Carbon Company has declared its Audited Results for the quarter and full year ended 31st March 2019.

The Company continues to deliver solid performance across Revenues, EBITDA & PAT on the back of transformational strategy leading to better Product mix with focus on High value products:

Total Revenue increased by 20% to Rs. 2,422 crores compared to Rs. 2,022 crores for FY18

EBITDA increased by 24% to Rs. 563 crores compared to Rs. 452 crores for FY18

Profit after Tax increased by 31% to Rs. 324 crores compared to Rs. 248 crores for FY18

The Board of Directors has recommended a dividend of 15% of Face Value of Re 1 per equity share

Commenting on the results and performance, Mr. Anurag Choudhary, CEO of Himadri Speciality Chemical Ltd said: “It gives me immense pleasure to share with you that our Company has achieved another year of remarkable performance resulting in a Revenue growth of 20% and PAT growth of 31%. We have maintained our focus on reducing the working capital bringing it down to 23% from 29%. We have also reduced the net debt by Rs. 200 crs to Rs. 425 crs during the year while making significant capex investments towards next generation of carbon speciality products."

"We adopted a Transformational Strategy to move towards High Value Products and this strategy is yielding results. The DNA of the Company lies in Innovation and R&D which has enabled us to further build upon our portfolio of high value-added products. Our current Advance Carbon Material capacity is running at 110%. The strong results are completely attributable to the strong team we have built over the years. Himadrians are the true strength of the Company enabling us to transform our passion into results.

"We are firmly moving ahead in our journey of becoming the most integrated speciality carbon corporation globally. We are entering into unique high technology businesses of Advance Carbon Material and Speciality Carbon Black. The level of integration that we will achieve with our new product portfolio will make us one-of-its-kind globally.

"We have the right strategy, the skills and the passion necessary to drive Himadri to the next level of growth. And that makes us very excited about the promising journey ahead that will unleash the power of speciality carbon integration.”

Himadri Speciality Chemical Ltd (“Himadri Speciality”) was established in 1987, is a leading Carbon corporation with one-of-its-kind vertical integration in the world with headquarters in Kolkata, West Bengal.

The Company is a leader in products like Coal Tar Pitch with market share catering to more than two-thirds of the Indian Graphite and Aluminium industry, third largest producers of Carbon Black catering to niche application in Tyre and non-Tyre industry.