Integrated Filing — IndAS



General information about company

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 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 16-10-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 09-10-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
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 16-10-2026   17:00:00
End date and time of board meeting 16-10-2026   17:50:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

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 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 1,69,143.00 3,12,331.00
Other income 4,179.00 9,810.00
Total income 1,73,322.00 3,22,141.00
2 Expenses
(a) Cost of materials consumed 1,14,392.00 2,14,726.00
(b) Purchases of stock-in-trade 15,243.00 26,707.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (12,534.00) (33,121.00)
(d) Employee benefit expense 6,068.00 11,895.00
(e) Finance costs 2,772.00 5,013.00
(f) Depreciation, depletion and amortisation expense 2,169.00 4,299.00
(f) Other Expenses
1 Other Expenses 14,478.00 31,837.00
Total other expenses 14,478.00 31,837.00
Total expenses 1,42,588.00 2,61,356.00
3 Total profit before exceptional items and tax 30,734.00 60,785.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 30,734.00 60,785.00
6 Tax expense
7 Current tax 6,961.00 13,134.00
8 Deferred tax 641.00 1,676.00
9 Total tax expenses 7,602.00 14,810.00
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 23,132.00 45,975.00
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 23,132.00 45,975.00
17 Other comprehensive income net of taxes 88.00 646.00
18 Total Comprehensive Income for the period 23,220.00 46,621.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 23,232.00 46,184.00
Total profit or loss, attributable to non-controlling interests (100.00) (209.00)
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 23,328.00 46,844.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests (108.00) (223.00)
21 Details of equity share capital
Paid-up equity share capital 5,046.00 5,046.00
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 4.6 9.15
Diluted earnings (loss) per share from continuing operations 4.6 9.15
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 4.6 9.15
Diluted earnings (loss) per share from continuing and discontinued operations 4.6 9.15
24 Debt equity ratio 0.2200 0.2200
25 Debt service coverage ratio 8.9300 9.0100
26 Interest service coverage ratio 12.8700 13.9800
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) (3) The above unaudited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on 16 October 2026. A Limited Review of these consolidated financial results for the quarter and six months ended 30 September 2026 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. (4) Other expenses includes foreign exchange fluctuation loss/ (gain) (net) of Rs (11.74) crores for the quarter ended 30 September 2026, Rs 25.20 crores for the quarter ended 30 June 2026, Rs 5.07 crores for the quarter ended 30 September 2025, Rs 13.46 crores for the six months ended 30 September 2026, Rs (4.69) crores for the six months ended 30 September 2025 and Rs 43.56 crores for the year ended 31 March 2026. (5) Based on the guiding principles given in Ind AS 108 on 'Operating Segments', the Group's business activity falls within following operating segments, namely: (a) Carbon materials and chemicals, and (b) Power (c) Others (includes Mining and Other business) (6) (a) The consolidated financial results are prepared in accordance with the principles and procedures for the preparation and presentation of consolidated financial results as set out in Ind AS 110 'Consolidated Financial Statements' notified by Ministry of Corporate Affairs. The consolidated financial results of Himadri Speciality Chemical Limited (the Holding Company or the Parent), include its subsidiaries, namely AAT Global Limited, Shandong Dawn Himadri Chemical Industry Limited, Himadri Speciality Inc, Himadri Agro Tech Specialities Limited (formerly Combe Projects Private Ltd. and Combe Projects Ltd.), Himadri Clean Energy Limited, Himadri Future Material Technology Limited, Invati Creations Private Limited, Himadri Green Technologies Innovation Limited, Birla Tyres Limited (w.e.f 01 April 2025), Himadri Birla Tyre Manufacturer Private Limited (w.e.f 01 April 2025), Trancemarine and Confreight Logistics Private Limited (w.e.f 04 April 2025), Sturdy Niketan Private Limited (w.e.f 04 April 2025), Himadri Advance New Energy Material Limited (formerly, Elixir Carbo Private Ltd. and Elixir Carbo Ltd.) (w.e.f 22 April 2025), Himadri Integrated Minerals And Resources Limited (formerly, Himadri Power Ltd.) (w.e.f 11 February 2026) and Ardent Impex Fzco (w.e.f 22 June 2026) (the Holding Company or the Parent and its subsidiaries together referred to as the 'Group'), combined on a line-by-line basis by adding together the book values of like items of asset and liabilities, income and expenses eliminating intra-group balances and transactions and resulting unrealised gains/ (losses). The consolidated financial results are prepared applying uniform accounting policies on all material items. (7) The Nomination and Remuneration Committee of the Holding Company at its meeting held on 10 August 2026, has allotted 13,576 equity shares of Re 1 each (Under Grant II) to the option grantees pursuant to exercise of options under the Holding Company’s “Himadri Employee Stock Option Plan 2016”. As a result of such allotment, the paid up equity share capital of the Holding Company has increased from 50,45,60,599 equity shares to 50,45,74,175 equity shares of face value of Re 1 each. (8) The Board of Holding Company at its meeting held on 21 September 2026, subject to receipt of requisite approvals from statutory and regulatory authorities, considered and approved the Scheme of Arrangement between Dalmia Bharat Refractories Limited (“DBRL” or “Demerged Company”) and the Holding Company (“HSCL” or “Resulting Company”) and their respective shareholders and creditors pursuant to Section 230 to 232 read with other applicable provisions of the Companies Act, 2013 and the rules framed thereunder (“Scheme”). The Scheme, inter-alia, provides for demerger by way of transfer and vesting of the Tyre Business of DBRL (“Demerged Undertaking”) from DBRL to HSCL as a going concern w.e.f the proposed appointed date i.e. 1 October 2026, on an as is where is basis, and the consequent issuance of Resulting Company New Shares (as defined in the Scheme) by HSCL to the eligible shareholders of DBRL in accordance with the Share Entitlement Ratio (as defined in the Scheme) in the manner set forth in the Scheme. The scheme has since been filed with stock exchanges for approval. (9) Earnings per share is not annualised for the quarter ended 30 September 2026, 30 June 2026, 30 September 2025, six months ended 30 September 2026 and 30 September 2025.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2026
Date of end of reporting period 30-09-2026
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 1,89,283.00
Capital work-in-progress 37,006.00
Investment property 0.00
Goodwill 2,443.00
Other intangible assets 9,875.00
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 1,22,623.00
Trade receivables, non-current 1,018.00
Loans, non-current 0.00
Other non-current financial assets
1 Other non-current financial assets 16,870.00
Total of other non-current financial assets 16,870.00
Total non-current financial assets 1,40,511.00
Deferred tax assets (net) 1,616.00
Other non-current assets
1 Other non-current assets 14,024.00
Total of other non-current assets 14,024.00
Total non-current assets 3,94,758.00
2 Current assets
Inventories 80,568.00
Current financial asset
Current investments 2,342.00
Trade receivables, current 1,02,618.00
Cash and cash equivalents 9,593.00
Bank balance other than cash and cash equivalents 51,672.00
Loans, current 1,421.00
Other current financial assets
Total of other current financial assets 3,174.00
Total current financial assets 1,70,820.00
Current tax assets (net) 0.00
Other current assets
1 Other current assets 51,536.00
Total of other current assets 51,536.00
Total current assets 3,02,924.00
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 6,97,682.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 5,046.00
Other equity 5,08,476.00
Total equity attributable to owners of parent 5,13,522.00
Non controlling interest 5,317.00
Total equity 5,18,839.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 358.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Other non-current financial liabilities 256.00
Total of other non-current financial liabilities 256.00
Total non-current financial liabilities 614.00
Provisions, non-current 1,552.00
Deferred tax liabilities (net) 30,517.00
Deferred government grants, Non-current
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 32,683.00
Current liabilities
Current financial liabilities
Borrowings, current 1,15,226.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 376.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 15,671.00
Total Trade payable 16,047.00
Other current financial liabilities
1 Other current financial liabilities 5,082.00
Total of other current financial liabilities 5,082.00
Total current financial liabilities 1,36,355.00
Other current liabilities 1,608.00
1 Other current liabilities 1,608.00
Total of other current liabilities 1,608.00
Provisions, current 393.00
Current tax liabilities (Net) 7,804.00
Deferred government grants, Current
Total current liabilities 1,46,160.00
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 1,78,843.00
Total equity and liabilites 6,97,682.00
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

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 01-07-2026 01-04-2026
Date of end of reporting period 30-09-2026 30-09-2026
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Carbon materials and chemicals 1,53,902.00 2,81,792.00
2 Power 3,332.00 6,520.00
3 Others 14,414.00 28,803.00
Total Segment Revenue 1,71,648.00 3,17,115.00
Less: Inter segment revenue 2,505.00 4,784.00
Revenue from operations 1,69,143.00 3,12,331.00
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Carbon materials and chemicals 25,164.00 51,420.00
2 Power 2,984.00 5,794.00
3 Others 5.00 120.00
Total Profit before tax 28,153.00 57,334.00
i. Finance cost 2,772.00 5,013.00
ii. Other Unallocable Expenditure net off Unallocable income (5,353.00) (8,464.00)
Profit before tax 30,734.00 60,785.00
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Carbon materials and chemicals 4,42,817.00 4,42,817.00
2 Power 10,085.00 10,085.00
3 Others 36,272.00 36,272.00
Total Segment Asset 4,89,174.00 4,89,174.00
Un-allocable Assets 2,08,508.00 2,08,508.00
Net Segment Asset 6,97,682.00 6,97,682.00
4 Segment Liabilities
Segment Liabilities
1 Carbon materials and chemicals 12,869.00 12,869.00
2 Power 66.00 66.00
3 Others 11,581.00 11,581.00
Total Segment Liabilities 24,516.00 24,516.00
Un-allocable Liabilities 1,54,327.00 1,54,327.00
Net Segment Liabilities 1,78,843.00 1,78,843.00
Disclosure of notes on segments Textual Information(2)



Text Block

Textual Information(2) Other unallocable expenses net of unallocable income includes other income and foreign exchange loss/ (gain) (net), fully unallocable



Other Comprehensive Income

Amount in (Lakhs)

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 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
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) (10.00)
2 Net gain/ (loss) on investment in equity instruments accounted at fair value 9.00 384.00
Total Amount of items that will not be reclassified to profit and loss 4.00 374.00
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 52.00
3 Amount of items that will be reclassified to profit and loss
1 Exchange differences in translating financial statements of foreign operations 84.00 324.00
Total Amount of items that will be reclassified to profit and loss 84.00 324.00
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 88.00 646.00



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026
B Date of end of reporting period 30-09-2026
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 60,785.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 5,013.00
Adjustments for decrease (increase) in inventories (4,272.00)
Adjustments for decrease (increase) in trade receivables, current (31,699.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (6,936.00)
Adjustments for decrease (increase) in other non-current assets 19.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current (9,362.00)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (21,503.00)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 576.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 4,299.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current (2,365.00)
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains (1,268.00)
Adjustments for dividend income 0.00
Adjustments for interest income 2,496.00
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 49.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (69,945.00)
Net cash flows from (used in) operations (9,160.00)
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 6,275.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities (15,435.00)
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 168.00
Purchase of property, plant and equipment 17,304.00
Proceeds from sales of investment property 0.00
Purchase of investment property 11,152.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 8.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 1,530.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 5,268.00
Net cash flows from (used in) investing activities (21,498.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 46.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 76.00
Repayments of borrowings (38,852.00)
Payments of lease liabilities 108.00
Dividends paid 4,036.00
Interest paid 4,780.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities 30,050.00
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (6,883.00)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (6,883.00)
Cash and cash equivalents cash flow statement at beginning of period 16,476.00
Cash and cash equivalents cash flow statement at end of period 9,593.00