HSCL2024-07-012024-09-30 HSCL2024-07-012024-09-30 HSCL2024-07-012024-09-30in-bse-fin:OneOperatingExpenses01Member HSCL2024-07-012024-09-30in-bse-fin:FourOperatingExpenses01Member HSCL2024-09-30 HSCL2024-07-012024-09-30in-bse-fin:OneReportableSegmentRevenue01Member HSCL2024-07-012024-09-30in-bse-fin:OneReportableSegmentRevenue02Member HSCL2024-07-012024-09-30in-bse-fin:FourReportableSegmentRevenue01Member HSCL2024-07-012024-09-30in-bse-fin:FourReportableSegmentRevenue02Member HSCL2024-07-012024-09-30in-bse-fin:OneReportableSegmentResults01Member HSCL2024-07-012024-09-30in-bse-fin:OneReportableSegmentResults02Member HSCL2024-07-012024-09-30in-bse-fin:FourReportableSegmentResults01Member HSCL2024-07-012024-09-30in-bse-fin:FourReportableSegmentResults02Member HSCL2024-07-012024-09-30in-bse-fin:OneReportableSegmentAssets01Member HSCL2024-07-012024-09-30in-bse-fin:OneReportableSegmentAssets02Member HSCL2024-07-012024-09-30in-bse-fin:OneReportableSegmentLiabilities01Member HSCL2024-09-30in-bse-fin:OneReportableSegmentLiabilities01Member HSCL2024-07-012024-09-30in-bse-fin:OneReportableSegmentLiabilities02Member HSCL2024-09-30in-bse-fin:OneReportableSegmentLiabilities02Member HSCL2024-07-012024-09-30in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member HSCL2024-07-012024-09-30in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss02Member HSCL2024-07-012024-09-30in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss01Member HSCL2024-07-012024-09-30in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss02Member HSCL2024-07-012024-09-30in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member HSCL2024-07-012024-09-30in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 500184 HSCL NA Himadri Speciality Chemical Limited Equity 2024-04-01 2025-03-31 2024-10-16 2024-10-09 INR Crores Half yearly 11:30:00 13:50:00 2024-10-16 2024-10-16 true Cash Flow Indirect Not applicable Multi segment 2024-07-01 2024-09-30 Unaudited Consolidated 11369200000.00 135700000.00 11504900000.00 8303500000.00 0.00 -405900000.00 348200000.00 113000000.00 131000000.00 1042100000.00 9531900000.00 1973000000.00 0.00 1973000000.00 344200000.00 271800000.00 616000000.00 0.00 1357000000.00 0.00 0.00 0.00 0.00 1357000000.00 68600000.00 1425600000.00 1353600000.00 3400000.00 1423600000.00 2000000.00 493700000.00 1 2.74 2.72 0.00 0.00 2.74 2.72 (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 2024. A Limited Review of these consolidated financial results for the quarter and six months ended 30 September 2024 has been carried out by the Statutory Auditors, as required under Regulation 33 of SEBI (LODR) Regulations, 2015. (4) Other expenses includes foreign exchange fluctuation loss/ (gain) (net) of Rs (4.90) crores for the quarter ended 30 September 2024, Rs (4.31) crores for the quarter ended 30 June 2024, Rs (1.21) crores for the quarter ended 30 September 2023, Rs (9.21) crores for the six months ended 30 September 2024, Rs (5.32) crores for the six months ended 30 September 2023 and Rs (9.68) crores for the year ended 31 March 2024. Finance cost includes exchange difference regarded as an adjustment to borrowing costs in accordance with Ind AS 23, of Re 0.13 crore for the quarter ended 30 September 2024, Re Nil for the quarter ended 30 June 2024, Rs 1.61 crores for the quarter ended 30 September 2023, Re 0.13 crore for the six months ended 30 September 2024, Rs 2.11 crores for the six months ended 30 September 2023 and Rs 3.12 crores for the year ended 31 March 2024. (5) Based on the guiding principles given in Ind AS 108 on 'Operating Segments', the Group's business activity falls within two operating segments, namely: (a) Carbon materials and chemicals, and (b) Power (6) 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, Combe Projects Private Limited (w.e.f 20 July 2023), Himadri Clean Energy Limited (w.e.f 30 November 2023), Himadri Future Material Technology Limited (w.e.f 01 February 2024) and Himadri Green Technologies Innovation Limited (w.e.f 01 August 2024) (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 Holding Company has acquired 40% paid-up share capital of M/s. Invati Creations Private Limited (ICPL) and this voting right does not qualify ICPL as a subsidiary under Section 2(87) of the Companies Act, 2013. However based on contractual rights (including potential voting right combined with 40% voting right), the Holding Company has the power to make decisions concerning relevant activities and thus has control over ICPL as per IND AS 110: Consolidated Financial Statements. Consequently, the management of the Holding Company has decided to consolidate the financial results of ICPL as a subsidiary with effect from May 17, 2024. 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 29 August 2024, has allotted 107,090 equity shares of Re 1 each (Under Grant I: 1,240 equity shares and under Grant II: 105,850 equity shares) 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 493,515,134 equity shares to 493,622,224 equity shares of face value of Re 1 each. Multi segment 2024-04-01 2024-09-30 Unaudited Consolidated 23373300000.00 262100000.00 23635400000.00 16590700000.00 0.00 -195400000.00 662800000.00 242500000.00 260300000.00 2314700000.00 19875600000.00 3759800000.00 0.00 3759800000.00 658400000.00 516600000.00 1175000000.00 0.00 2584800000.00 0.00 0.00 0.00 0.00 2584800000.00 79300000.00 2664100000.00 2579800000.00 5000000.00 2660400000.00 3700000.00 493700000.00 1 5.23 5.20 0.00 0.00 5.23 5.20 Other Expenses 1042100000.00 Other Expenses 2314700000.00 108600000.00 14922200000.00 1048600000.00 6800000.00 675200000.00 5349400000.00 101800000.00 0.00 747200000.00 6198400000.00 73300000.00 351300000.00 23275800000.00 6204400000.00 76200000.00 6591800000.00 555700000.00 5165400000.00 49600000.00 415800000.00 12854500000.00 0.00 2436500000.00 21495400000.00 44771200000.00 493700000.00 33602000000.00 34095700000.00 34204300000.00 156000000.00 42400000.00 198400000.00 89000000.00 2216700000.00 2504100000.00 3262900000.00 4176900000.00 217300000.00 7657100000.00 194100000.00 18800000.00 192800000.00 8062800000.00 10566900000.00 44771200000.00 (2) 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 Consolidated Financial Results as at and for the Quarter and Six Months Ended 30 September 2024 Three months ended 30.09.2024 For period ended 30.09.2024 a) Debt-Equity Ratio (in times) : 0.10 0.10 b) Debt Service Coverage Ratio (in times) 10.65 9.80 c) Interest Service Coverage Ratio (in times) 19.63 17.58 d) Current Ratio (in times) 2.67 2.67 e) Long Term Debt to Working Capital Ratio 0.02 0.02 (in times) f) Bad Debts to Account Receivable Ratio 0.00 0.00 (in times)* g) Current Liability Ratio (in times) 0.76 0.76 h) Total Debts to Total Assets Ratio (in times) 0.08 0.08 i) Debtors Turnover (in times) * 1.64 3.50 j)Inventory Turnover (in times) * 1.29 2.48 k) Operating Margin (%) 17.88% 16.72% l) Net Profit Margin (%) 11.94% 11.06% m) Outstanding Redeemable Preference Shares Nil Nil (Quantity) n) Outstanding Redeemable Preference Shares Nil Nil (Value) 0) Capital Redemption Reserve (Rs. in Crores) Nil Nil p) Debenture Redemption Reserve (Rs. in Crores) Nil Nil q) Net Worth (Rs. in Crores) 3409.57 3409.57 r) Net Profit After Tax (Rs. in Crores) 135.70 258.48 s) Earnings Per Share (Face Value of Re. 1 each) Basic 2.74 5.23 Diluted 2.72 5.20 * not annualised for the interim periods The Company has issued 1,000 units of Commercial Paper of face value of Rs. 5,00,000/- each aggregating to Rs 50 Crores at a discount rate of 7.20% p.a., due for redemption on 18 October 2024. The credit rating assigned for the Commercial Paper by ICRA is A1+. Cash Flow Note: Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7 Statement of Cash Flows . Carbon materials and chemicals 11315300000.00 Power 258500000.00 Carbon materials and chemicals 23258700000.00 Power 517000000.00 11573800000.00 23775700000.00 204600000.00 402400000.00 11369200000.00 23373300000.00 Carbon materials and chemicals 1673800000.00 Power 227500000.00 Carbon materials and chemicals 3189300000.00 Power 458800000.00 1901300000.00 3648100000.00 113000000.00 242500000.00 -184700000.00 Other unallocable expenses net of unallocable income includes other income and foreign exchange loss/ (gain) (net), fully unallocable. Notes Contd: (8) During the previous quarter, the Holding 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 Holding 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 Holding Company, against each warrant held by the warrant holder. During the quarter ended 30 September 2024, the Holding Company upon receipt of balance 75% of the issue price (i.e., Rs 237 per warrant) for 34,000 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 Holding Company has increased from 493,622,224 equity shares to 493,656,224 equity shares of face value of Re 1 each. For the remaining 10,783,000 warrants, the respective allottees have not yet exercised their option for conversion of the warrants into equity shares and accordingly, balance 75% money towards such remaining warrants is yet to be received. The last day for exercising the option for conversion of the warrants into equity shares of the Holding Company is 13 November 2025, being 18 months from the date of allotment of warrants i.e., 14 May 2024. (9) The Holding Company on 17 May 2024, has acquired 40% paid-up equity share capital of Invati Creations Private Limited (“Target Company”), for a total purchase consideration of Rs 45.16 crores. The purchase consideration has been discharged in the following manner – i. Rs 19.99 crores has been paid in cash against fresh issue of 2,152 equity shares of Rs 10/- each constituting 17.71% stake, of the Target Company; and ii. Rs 25.17 crores payable for acquiring 2,709 equity shares of Rs. 10 each, constituting 22.29% stake, of the Target Company from the existing shareholders of the Target Company for consideration other than cash has been settled by way of issue and allotment of 7,96,446 equity shares of the Holding Company having face value of Re 1/- each, at a price of Rs 316 per equity share (including a premium of Rs 315 (Rupees Three Hundred Fifteen only) per equity share to the existing shareholders of the Target Company. The acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with Ind AS 103 ‘Business Combinations’. Pending final ascertainment of fair values of assets and liabilities acquired/assumed within a year from the date of acquisition (measurement period) the Holding Company has provisionally recognised Goodwill of Rs. 44.31 crores. The Holding Company is in the process of ascertaining fair values of the assets acquired and liabilities assumed for the purpose of allocating the purchase price to Property Plant & Equipment and Intangible assets. The Holding Company expects to complete the purchase price allocation no later than one year from the acquisition date. (10) During the quarter ended 30 September 2024, the Holding Company has issued commercial papers which were listed on the BSE pursuant to SEBI Master Circular No SEBIIHOIDDHS/PoDI/P/CIR/2024154 dated 22 May 2024. (11) Earnings per share is not annualised for the quarter ended 30 September 2024, 30 June 2024, 30 September 2023, six months ended 30 September 2024 and 30 September 2023. -354200000.00 1973000000.00 3759800000.00 Carbon materials and chemicals 31342900000.00 Power 1050700000.00 32393600000.00 12377600000.00 44771200000.00 Carbon materials and chemicals 4720200000.00 Power 3700000.00 4723900000.00 5843000000.00 10566900000.00 242500000.00 820900000.00 1800000.00 0.00 -21300000.00 -300000.00 0.00 -983600000.00 0.00 -1527600000.00 0.00 27400000.00 0.00 260300000.00 0.00 0.00 0.00 -16700000.00 0.00 -47500000.00 0.00 218200000.00 0.00 0.00 0.00 0.00 0.00 23600000.00 0.00 -1438700000.00 2321100000.00 0.00 552100000.00 0.00 0.00 0.00 1769000000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 900000.00 531700000.00 0.00 567400000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 91200000.00 0.00 -149900000.00 0.00 -1156900000.00 0.00 0.00 0.00 862600000.00 0.00 0.00 32000000.00 0.00 0.00 2585600000.00 0.00 8700000.00 246800000.00 269100000.00 0.00 9700000.00 -2205900000.00 -1593800000.00 0.00 -1593800000.00 2149500000.00 555700000.00 Remeasurement of the net defined benefit plan -500000.00 Net gain/(loss) on investment in equity instruments accounted at fair value 46800000.00 Remeasurement of the net defined benefit plan -1000000.00 Net gain/(loss) on investment in equity instruments accounted at fair value 61500000.00 46300000.00 60500000.00 7200000.00 8800000.00 Exchange difference in transalating financial statements of foreign operations 29500000.00 Exchange difference in transalating financial statements of foreign operations 27600000.00 29500000.00 27600000.00 0.00 0.00