| Scrip Code | 500184 |
|---|---|
| NSE Symbol | HSCL |
| MSEI Symbol | NOTLISTED |
| ISIN | INE019C01026 |
| Name of company | Himadri Speciality Chemical Limited |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 16-01-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 08-01-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Third quarter |
| Nature of report standalone or consolidated | Standalone |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Unaudited |
| Segment Reporting | Multi segment |
| Description of single segment | |
| Start date and time of board meeting | 16-01-2026 12:00:00 |
| End date and time of board meeting | 16-01-2026 15:35:00 |
| Whether cash flow statement is applicable on company | |
| Type of cash flow statement | |
| Declaration of unmodified opinion or statement on impact of audit qualification | Not applicable |
| Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? | Yes |
| No. of times funds raised during the quarter | 3 |
| Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? | No |
| There is no default in the payment of outstanding Loans / revolving facilities, Unlisted debt securities. | |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| 1 | Income | ||
| Revenue from operations | 1,13,297.00 | 3,30,380.00 | |
| Other income | 4,850.00 | 11,439.00 | |
| Total income | 1,18,147.00 | 3,41,819.00 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 61,333.00 | 2,05,233.00 |
| (b) | Purchases of stock-in-trade | 0.00 | 0.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 9,949.00 | 4,014.00 |
| (d) | Employee benefit expense | 4,149.00 | 11,536.00 |
| (e) | Finance costs | 1,487.00 | 4,241.00 |
| (f) | Depreciation, depletion and amortisation expense | 1,569.00 | 4,418.00 |
| (f) | Other Expenses | ||
| 1 | Other Expenses | 13,977.00 | 37,570.00 |
| Total other expenses | 13,977.00 | 37,570.00 | |
| Total expenses | 92,464.00 | 2,67,012.00 | |
| 3 | Total profit before exceptional items and tax | 25,683.00 | 74,807.00 |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | 25,683.00 | 74,807.00 |
| 6 | Tax expense | ||
| 7 | Current tax | 5,771.00 | 17,306.00 |
| 8 | Deferred tax | 454.00 | 1,101.00 |
| 9 | Total tax expenses | 6,225.00 | 18,407.00 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | 19,458.00 | 56,400.00 |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 16 | Total profit (loss) for period | 19,458.00 | 56,400.00 |
| 17 | Other comprehensive income net of taxes | 68.00 | 134.00 |
| 18 | Total Comprehensive Income for the period | 19,526.00 | 56,534.00 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | |||
| Total profit or loss, attributable to non-controlling interests | |||
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | |||
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | |||
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 5,045.00 | 5,045.00 | |
| Face value of equity share capital | 1 | 1 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | ||
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | 3.89 | 11.37 | |
| Diluted earnings (loss) per share from continuing operations | 3.87 | 11.3 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 0 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | 3.89 | 11.37 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | 3.87 | 11.3 | |
| 24 | Debt equity ratio | 0.1800 | 0.1800 |
| 25 | Debt service coverage ratio | 13.1800 | 13.7500 |
| 26 | Interest service coverage ratio | 19.3300 | 19.6800 |
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | (2) The above unaudited standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on 16 January 2026. A Limited Review of these standalone financial results for the quarter and nine months ended 31 December 2025 has been carried out by the Statutory Auditors, as required under Regulation 33 and Regulation 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. (3) Other expenses includes foreign exchange fluctuation loss/ (gain) (net) of Rs 10.18 crores for the quarter ended 31 December 2025, Rs 5.10 crores for the quarter ended 30 September 2025, Rs 4.01 crores for the quarter ended 31 December 2024, Rs 5.48 crores for the nine months ended 31 December 2025, Rs (5.20) crores for the nine months ended 31 December 2024 and Rs (7.47) crores for the year ended 31 March 2025. (4) Based on the guiding principles given in Ind AS 108 on 'Operating Segments', the Company's business activity falls within two operating segments, namely: (a) Carbon materials and chemicals, and (b) Power (5) On 14 May 2024, the Company has issued and allotted 10,817,000 warrants, each convertible into one equity share of Re 1 each, on Preferential allotment basis at an issue price of Rs 316 per warrant, to the Promoters of the Company and certain identified non-promoter persons, upon receipt of 25% of the issue price (i.e. Rs 79 per warrant) as warrant subscription money. Balance 75% of the issue price (i.e. Rs 237 per warrant) shall be payable within 18 months from the date of allotment i.e.14 May 2024, at the time of exercising the option to apply for fully paid-up equity share of Re 1 each of the Company, against each warrant held by the warrant holder. During the quarter ended 31 December 2025, the Company upon receipt of balance 75% of the issue price (i.e., Rs 237 per warrant) for 10,349,000 warrants, has allotted equal no. of fully paid-up equity shares against conversion of said warrants exercised by the warrant holder. As a result of such allotment, the paid-up equity share capital of the Company has increased from 494,169,950 equity shares to 504,518,950 equity shares of face value of Re 1 each. Consequent to the said allotment, all the warrants have been converted into equity shares and there is no outstanding warrants. (6) Effective 01 April 2025 the Company has migrated to the Lower Tax Regime as prescribed under section 115BAA of the Income Tax Act 1961, introduced by the Taxation Laws (Amendment) Act, 2019. The Company had during the previous year, re-assessed the carrying value of deferred tax assets/ Liability and took a reversal of deferred tax liability of Rs 3.01 Crores during the quarter and year ended 31 March 2025 on account of deferred tax to be reversed during lower tax regime. The Company had also charged to deferred tax liability, unutilised MAT of Rs 3.57 Crores during the quarter and year ended 31 March 2025 as the same is not eligible to be set off during lower tax Regime. (7) On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has recognised the incremental liability in respect of its own employees, which is not material to the standalone financial results. The Company is in the process of evaluating the impact of the New Labour Codes on other aspects, including the contract workforce. However, management is of the view that impact, if any, is unlikely to be material. The Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as needed. (8) During the quarter ended 31 December 2025, the Company has issued commercial papers which were listed on the BSE pursuant to SEBI Master Circular No. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated October 15, 2025. (9) The Company has started the trial run production of it's speciality carbon black expansion project at its Mahistikry Plant in the month of December 2025. The trial run is expected to be completed and commercial production is tentatively scheduled to commence by February 2026. (10) Earnings per share is not annualised for the quarter ended 31 December 2025, 30 September 2025, 31 December 2024, nine months ended 31 December 2025 and 31 December 2024. |
|---|
| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-10-2025 | 01-04-2025 | |||||
| Date of end of reporting period | 31-12-2025 | 31-12-2025 | |||||
| Whether results are audited or unaudited | Unaudited | Unaudited | |||||
| Nature of report standalone or consolidated | Standalone | Standalone | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| 1 | (a) Carbon materials and chemicals | 1,12,887.00 | 3,29,044.00 | ||||
| 2 | (b) Power | 2,152.00 | 6,996.00 | ||||
| Total Segment Revenue | 1,15,039.00 | 3,36,040.00 | |||||
| Less: Inter segment revenue | 1,742.00 | 5,660.00 | |||||
| Revenue from operations | 1,13,297.00 | 3,30,380.00 | |||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| 1 | (a) Carbon materials and chemicals | 21,559.00 | 62,249.00 | ||||
| 2 | (b) Power | 1,779.00 | 5,908.00 | ||||
| Total Profit before tax | 23,338.00 | 68,157.00 | |||||
| i. Finance cost | 1,487.00 | 4,241.00 | |||||
| ii. Other Unallocable Expenditure net off Unallocable income | (3,832.00) | (10,891.00) | |||||
| Profit before tax | 25,683.00 | 74,807.00 | |||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| 1 | (a) Carbon materials and chemicals | 3,62,884.00 | 3,62,884.00 | ||||
| 2 | (b) Power | 9,947.00 | 9,947.00 | ||||
| Total Segment Asset | 3,72,831.00 | 3,72,831.00 | |||||
| Un-allocable Assets | 2,05,914.00 | 2,05,914.00 | |||||
| Net Segment Asset | 5,78,745.00 | 5,78,745.00 | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| 1 | (a) Carbon materials and chemicals | 24,094.00 | 24,094.00 | ||||
| 2 | (b) Power | 50.00 | 50.00 | ||||
| Total Segment Liabilities | 24,144.00 | 24,144.00 | |||||
| Un-allocable Liabilities | 1,10,909.00 | 1,10,909.00 | |||||
| Net Segment Liabilities | 1,35,053.00 | 1,35,053.00 | |||||
| Disclosure of notes on segments | Textual Information(2) | ||||||
| Textual Information(2) | Other unallocable expenses net of unallocable income includes other income, foreign exchange loss/ (gain) (net), and exceptional items fully unallocable Note (1) Additional information pursuant to Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations. 2015, as amended for Unaudited Standalone Financial Results as at and for the Quarter and Nine Months Ended on 31 December 2025 Three months ended 31.12.2025 a) Debt-Equity Ratio (in times) : 0.18 b) Debt Service Coverage Ratio (in times) 13.18 c) Interest Service Coverage Ratio (in times) 19.93 d) Current Ratio (in times) 2.43 e) Long Term Debt to Working Capital Ratio 0.00 (in times) f) Bad Debts to Account Receivable Ratio 0.00 (in times)* g) Current Liability Ratio (in times) 0.78 h) Total Debts to Total Assets Ratio (in times) 0.15 i) Debtors Turnover (in times) * 1.54 j)Inventory Turnover (in times) * 1.13 k) Operating Margin (%) 21.98% l) Net Profit Margin (%) 17.17% m) Outstanding Redeemable Preference Shares Nil (Quantity) n) Outstanding Redeemable Preference Shares Nil (Value) 0) Capital Redemption Reserve (Rs. in Crores) Nil p) Debenture Redemption Reserve (Rs. in Crores) Nil q) Net Worth (Rs. in Crores) 4436.92 r) Net Profit After Tax (Rs. in Crores) 194.58 s) Earnings Per Share (Face Value of Re. 1 each) Basic 3.89 Diluted 3.87 1.The Company has issued 2,000 units of Commercial Paper of face value of Rs. 5,00,000/- each aggregating to Rs 100 Crores at a discount rate of 6.30% p.a., due for redemption on 04 March 2026. The credit rating assigned for the Commercial Paper by ICRA is A1+. 2. The Company has issued 4,000 units of Commercial Paper of face value of Rs. 5,00,000/- each aggregating to Rs 200 Crores at a discount rate of 6.20% p.a., due for redemption on 26 March 2026. The credit rating assigned for the Commercial Paper by ICRA is A1+. |
|---|
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| 1 | Remeasurements of the net defined benefit plan | (5.00) | (15.00) |
| 2 | Net gain/ (loss) on investment in equity instruments accounted at fair value | 83.00 | 130.00 |
| Total Amount of items that will not be reclassified to profit and loss | 78.00 | 115.00 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 10.00 | (19.00) |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| Total Amount of items that will be reclassified to profit and loss | |||
| 4 | Income tax relating to items that will be reclassified to profit or loss | 0.00 | 0.00 |
| 5 | Total Other comprehensive income | 68.00 | 134.00 |
| Mode of Fund Raising | Preferential Issues |
|---|---|
| Description of mode of fund raising (Applicable in case of others is selected) | |
| Date of Raising Funds | 16-10-2025 |
| Amount Raised | 729.00 |
| Report filed for Quarter ended | 31-12-2025 |
| Monitoring Agency | Applicable |
| Monitoring Agency Name, if applicable | ICRA Limited |
| Is there a Deviation / Variation in use of funds raised | No |
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders | |
| If Yes, Date of shareholder Approval | |
| Explanation for the Deviation / Variation | Not Applicable |
| Comments of the Audit Committee after review | No Comments |
| Comments of the auditors, if any | No Comments |
| Sr. | Original Object | Modified Object, if any | Original Allocation | Modified allocation, if any | Funds Utilised | Amount of Deviation/Variation for the quarter according to applicable object | Remarks if any |
| 1 | To Fund Capital expenditure for new green fields project or capital expenditure in its existing units and projects i.e. brown field expansion directly by the Company and/or through its subsidiaries or joint ventures or associates for the growth of existing businesses or to enter into new business in line with the strategy of the Company. | Not Applicable | 25,682.00 | 0.00 | 6,854.00 | 0.00 | |
| 2 | To Fund General corporate purposes, which includes, inter alia, meeting ongoing general corporate exigencies and contingencies, expenses of the Company as applicable in such a manner and proportion as may be decided by the Board from time to time, and/or any other general purposes as may be permissible under applicable laws. | Not Applicable | 8,500.00 | 0.00 | 8,286.00 | 0.00 |
| Mode of Fund Raising | Preferential Issues |
|---|---|
| Description of mode of fund raising (Applicable in case of others is selected) | |
| Date of Raising Funds | 07-11-2025 |
| Amount Raised | 23,741.00 |
| Report filed for Quarter ended | 31-12-2025 |
| Monitoring Agency | Applicable |
| Monitoring Agency Name, if applicable | ICRA Limited |
| Is there a Deviation / Variation in use of funds raised | No |
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders | |
| If Yes, Date of shareholder Approval | |
| Explanation for the Deviation / Variation | Not Applicable |
| Comments of the Audit Committee after review | No Comments |
| Comments of the auditors, if any | No Comments |
| Sr. | Original Object | Modified Object, if any | Original Allocation | Modified allocation, if any | Funds Utilised | Amount of Deviation/Variation for the quarter according to applicable object | Remarks if any |
| 1 | To Fund Capital expenditure for new green fields project or capital expenditure in its existing units and projects i.e. brown field expansion directly by the Company and/or through its subsidiaries or joint ventures or associates for the growth of existing businesses or to enter into new business in line with the strategy of the Company. | Not Applicable | 25,682.00 | 0.00 | 6,854.00 | 0.00 | |
| 2 | To Fund General corporate purposes, which includes, inter alia, meeting ongoing general corporate exigencies and contingencies, expenses of the Company as applicable in such a manner and proportion as may be decided by the Board from time to time, and/or any other general purposes as may be permissible under applicable laws. | Not Applicable | 8,500.00 | 0.00 | 8,286.00 | 0.00 |
| Mode of Fund Raising | Preferential Issues |
|---|---|
| Description of mode of fund raising (Applicable in case of others is selected) | |
| Date of Raising Funds | 10-11-2025 |
| Amount Raised | 57.00 |
| Report filed for Quarter ended | 31-12-2025 |
| Monitoring Agency | Applicable |
| Monitoring Agency Name, if applicable | ICRA Limited |
| Is there a Deviation / Variation in use of funds raised | No |
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders | |
| If Yes, Date of shareholder Approval | |
| Explanation for the Deviation / Variation | Not Applicable |
| Comments of the Audit Committee after review | No Comments |
| Comments of the auditors, if any | No Comments |
| Sr. | Original Object | Modified Object, if any | Original Allocation | Modified allocation, if any | Funds Utilised | Amount of Deviation/Variation for the quarter according to applicable object | Remarks if any |
| 1 | To Fund Capital expenditure for new green fields project or capital expenditure in its existing units and projects i.e. brown field expansion directly by the Company and/or through its subsidiaries or joint ventures or associates for the growth of existing businesses or to enter into new business in line with the strategy of the Company. | Not Applicable | 25,682.00 | 0.00 | 6,854.00 | 0.00 | |
| 2 | To Fund General corporate purposes, which includes, inter alia, meeting ongoing general corporate exigencies and contingencies, expenses of the Company as applicable in such a manner and proportion as may be decided by the Board from time to time, and/or any other general purposes as may be permissible under applicable laws. | Not Applicable | 8,500.00 | 0.00 | 8,286.00 | 0.00 |
| Name of signatory | Monika Saraswat |
| Designation of person | Company Secretary and Compliance Officer |
| Place | Kolkata |
| Date | 16-01-2025 |