5001842025-10-012025-12-315001842025-12-315001842025-04-012025-12-315001842025-10-012025-12-31in-capmkt:OtherExpenses1Member5001842025-04-012025-12-31in-capmkt:OtherExpenses1Member5001842025-10-012025-12-31in-capmkt:ReportableSegments1Member5001842025-10-012025-12-31in-capmkt:ReportableSegments2Member5001842025-04-012025-12-31in-capmkt:ReportableSegments1Member5001842025-04-012025-12-31in-capmkt:ReportableSegments2Member5001842025-10-012025-12-31in-capmkt:ReportableSegments1Member5001842025-10-012025-12-31in-capmkt:ReportableSegments2Member5001842025-04-012025-12-31in-capmkt:ReportableSegments1Member5001842025-04-012025-12-31in-capmkt:ReportableSegments2Member5001842025-10-012025-12-31in-capmkt:ReportableSegments1Member5001842025-12-31in-capmkt:ReportableSegments1Member5001842025-10-012025-12-31in-capmkt:ReportableSegments2Member5001842025-12-31in-capmkt:ReportableSegments2Member5001842025-10-012025-12-31in-capmkt:ReportableSegments1Member5001842025-12-31in-capmkt:ReportableSegments1Member5001842025-10-012025-12-31in-capmkt:ReportableSegments2Member5001842025-12-31in-capmkt:ReportableSegments2Member5001842025-10-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15001842025-10-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss25001842025-04-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15001842025-04-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss25001842025-10-012025-12-31ItemsThatWillBeReclassifiedToProfitAndLoss15001842025-04-012025-12-31ItemsThatWillBeReclassifiedToProfitAndLoss1iso4217:INRxbrli:pureiso4217:INRxbrli:shares500184HSCLNOTLISTEDINE019C01026Himadri Speciality Chemical LimitedMain BoardEquity2025-04-012026-03-312026-01-162026-01-08INRCroresQuarterlyThird quarterMulti segment2026-01-1612:00:002026-01-1615:35:00Not applicable2025-10-012025-12-31UnauditedConsolidated1183620000046590000012302100000611920000068990000060180000053060000016370000017580000014686000009749600000255250000002552500000583700000484000006321000000192040000000001920400000-240000019180000001922000000-16000001920600000-260000050450000013.843.84003.843.840.00190.11710.1767(2) 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 January 2026. A Limited Review of these consolidated 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. <BR> <BR> (3) Other expenses includes foreign exchange fluctuation loss/ (gain) (net) of Rs 10.12 crores for the quarter ended 31 December 2025, Rs 5.07 crores for the quarter ended 30 September 2025, Rs 4.03 crores for the quarter ended 31 December 2024, Rs 5.43 crores for the nine months ended 31 December 2025, Rs (5.18) crores for the nine months ended 31 December 2024 and Rs (7.48) crores for the year ended 31 March 2025. <BR> <BR> (4) "Based on the guiding principles given in Ind AS 108 on 'Operating Segments', the Group's business activity falls within two operating segments, namely: <BR> (a) Carbon materials and chemicals, and <BR> (b) Power" <BR> <BR> (5) "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. <BR> 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 (w.e.f 07 February 2025), Himadri Agro Tech Specialities Limited (HATSL) (formerly Combe Projects Private Ltd. and Combe Projects Ltd.), Himadri Clean Energy Limited, Himadri Future Material Technology Limited, Invati Creations Private Limited (w.e.f 17 May 2024), Himadri Green Technologies Innovation Limited (w.e.f 01 August 2024), 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) and Himadri Advance New Energy Material Limited (HANEML) (formerly, Elixir Carbo Private Ltd. and Elixir Carbo Ltd.) (w.e.f 22 April 2025) (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). <BR> The Holding Company has acquired 40% and 49% paid-up share capital of M/s. Invati Creations Private Limited (ICPL) and Himadri Birla Tyre Manufacturer Private Limited (HBTMPL) respectively and this voting right does not qualify ICPL and HBTMPL as a subsidiary under Section 2(87) of the Companies Act, 2013. However based on contractual rights (including potential voting right), the Holding Company has the power to make decisions concerning relevant activities and thus has control over ICPL and HBTMPL 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 and 1 April 2025 respectively. <BR> The consolidated financial results are prepared applying uniform accounting policies on all material items." <BR> <BR> (6) "On 14 May 2024, 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. <BR> <BR> During the quarter ended 31 December 2025, the Holding 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 Holding 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." <BR> <BR> (7) Effective 01 April 2025 the Holding 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 Holding 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 Holding 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. <BR> <BR> (8) "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. <BR> The Group has recognised the incremental liability in respect of its own employees, which is not material to the consolidated financial results. The Group 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. <BR> The Group 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." <BR> <BR> (9) During the quarter ended 31 December 2025, the Holding 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. <BR> <BR> (10) The Holding 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. <BR> <BR> (11) 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. <BR> 2025-04-012025-12-31UnauditedConsolidated33729400000109200000034821400000204836000001028900000-38760000014556000004698000004961000003944900000274913000007330100000073301000001745400000109300000185470000005475400000000054754000004290000055183000005505500000-301000005551200000-32900000504500000111.111.040011.111.040.00190.11990.1766Other Expenses1468600000Other Expenses3944900000(a) Carbon materials and chemicals11795200000(b) Power215200000(a) Carbon materials and chemicals33595800000(b) Power69960000012010400000342954000001742000005660000001183620000033729400000(a) Carbon materials and chemicals2173600000(b) Power177900000(a) Carbon materials and chemicals6171400000(b) Power59080000023515000006762200000163700000469800000-364700000-103770000025525000007330100000(a) Carbon materials and chemicals40379800000(b) Power994700000413745000001849010000059864600000(a) Carbon materials and chemicals2841000000(b) Power500000028460000001168360000014529600000Other unallocable expenses net of unallocable income includes other income, foreign exchange loss/ (gain) (net), and exceptional items fully unallocable <BR> <BR> Note <BR> (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 Consolidated Financial Results as at and for the Quarter and Nine Months Ended on 31 December 2025 <BR> <BR> Three months ended 31.12.2025 <BR> <BR> a) Debt-Equity Ratio (in times) : 0.19 <BR> b) Debt Service Coverage Ratio (in times) 11.71 <BR> c) Interest Service Coverage Ratio (in times) 17.67 <BR> d) Current Ratio (in times) 2.55 <BR> e) Long Term Debt to Working Capital Ratio 0.04 <BR> (in times) <BR> f) Bad Debts to Account Receivable Ratio 0.00 <BR> (in times)* <BR> g) Current Liability Ratio (in times) 0.76 <BR> h) Total Debts to Total Assets Ratio (in times) 0.15 <BR> i) Debtors Turnover (in times) * 1.74 <BR> j)Inventory Turnover (in times) * 1.07 <BR> k) Operating Margin (%) 21.35% <BR> l) Net Profit Margin (%) 16.23% <BR> m) Outstanding Redeemable Preference Shares Nil <BR> (Quantity) <BR> n) Outstanding Redeemable Preference Shares Nil <BR> (Value) <BR> 0) Capital Redemption Reserve (Rs. in Crores) Nil <BR> p) Debenture Redemption Reserve (Rs. in Crores) Nil <BR> q) Net Worth (Rs. in Crores) 4506.32 <BR> <BR> r) Net Profit After Tax (Rs. in Crores) 192.04 <BR> <BR> <BR> s) Earnings Per Share (Face Value of Re. 1 each) <BR> Basic 3.84 <BR> Diluted 3.84 <BR> <BR> 1.The Holding 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+. <BR> 2. The Holding 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+.Remeasurements of the net defined benefit plan-500000Net gain/ (loss) on investment in equity instruments accounted at fair value83000007800000Remeasurements of the net defined benefit plan-1500000Net gain/ (loss) on investment in equity instruments accounted at fair value13000000115000001100000-1800000Exchange differences in translating financial statements of foreign operations-9100000-9100000Exchange differences in translating financial statements of foreign operations296000002960000000-240000042900000