5001842026-01-012026-03-315001842026-03-315001842025-03-315001842025-04-012026-03-315001842026-01-012026-03-31in-capmkt:OtherExpenses1Member5001842025-04-012026-03-31in-capmkt:OtherExpenses1Member5001842026-03-31OtherNoncurrentFinancialAssetsDomain15001842026-03-31OtherNoncurrentAssetsDomain15001842026-03-31OtherCurrentFinancialAssetsDomain15001842026-03-31OtherCurrentAssetsDomain15001842026-03-31OtherNoncurrentFinancialLiabilitiesDomain15001842026-03-31OtherNoncurrentFinancialLiabilitiesDomain25001842026-03-31OtherCurrentFinancialLiabilitiesDomain15001842026-03-31OtherCurrentFinancialLiabilitiesDomain25001842026-03-31OtherCurrentLiabilitiesDomain15001842026-01-012026-03-31in-capmkt:ReportableSegments1Member5001842026-01-012026-03-31in-capmkt:ReportableSegments2Member5001842026-01-012026-03-31in-capmkt:ReportableSegments3Member5001842025-04-012026-03-31in-capmkt:ReportableSegments1Member5001842025-04-012026-03-31in-capmkt:ReportableSegments2Member5001842025-04-012026-03-31in-capmkt:ReportableSegments3Member5001842026-01-012026-03-31in-capmkt:ReportableSegments1Member5001842026-01-012026-03-31in-capmkt:ReportableSegments2Member5001842026-01-012026-03-31in-capmkt:ReportableSegments3Member5001842025-04-012026-03-31in-capmkt:ReportableSegments1Member5001842025-04-012026-03-31in-capmkt:ReportableSegments2Member5001842025-04-012026-03-31in-capmkt:ReportableSegments3Member5001842026-01-012026-03-31in-capmkt:ReportableSegments1Member5001842026-03-31in-capmkt:ReportableSegments1Member5001842026-01-012026-03-31in-capmkt:ReportableSegments2Member5001842026-03-31in-capmkt:ReportableSegments2Member5001842026-01-012026-03-31in-capmkt:ReportableSegments3Member5001842026-03-31in-capmkt:ReportableSegments3Member5001842026-01-012026-03-31in-capmkt:ReportableSegments1Member5001842026-03-31in-capmkt:ReportableSegments1Member5001842026-01-012026-03-31in-capmkt:ReportableSegments2Member5001842026-03-31in-capmkt:ReportableSegments2Member5001842026-01-012026-03-31in-capmkt:ReportableSegments3Member5001842026-03-31in-capmkt:ReportableSegments3Member5001842026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15001842026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss25001842025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15001842025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss25001842026-01-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15001842025-04-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15001842026-01-012026-03-31AuditorDomain1iso4217:INRiso4217:INRxbrli:shares500184HSCLNOTLISTEDINE019C01026Himadri Speciality Chemical LimitedMain BoardEquity2025-04-012026-03-312026-04-232026-04-16INRCroresQuarterlyFourth quarterMulti segment2026-04-2312:00:002026-04-2316:00:00trueCash Flow IndirectDeclaration of unmodified opinion2026-01-012026-03-31AuditedConsolidated12877600000620900000134985000006214800000947700000711400000483000000173900000185500000210330000010819600000267890000002678900000493800000109800000603600000020753000000000207530000044500000211980000020079000006740000020546000006520000050450000013.983.98003.983.98(2) The above audited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on 23 April 2026. <BR> <BR> (3) Other expenses includes foreign exchange fluctuation loss/ (gain) (net) of Rs 38.13 crores for the quarter ended 31 March 2026, Rs 10.12 crores for the quarter ended 31 December 2025, Rs (2.30) crores for the quarter ended 31 March 2025, Rs 43.56 crores for the year ended 31 March 2026 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 following operating segments, namely: <BR> (a) Carbon materials and chemicals, and <BR> (b) Power <BR> (c) Others (includes Mining and Other business) <BR> <BR> (5) (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. <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 (TCLPL) (w.e.f 04 April 2025), Sturdy Niketan Private Limited (w.e.f 04 April 2025), Himadri Advance New Energy Material Limited (HANEML) (formerly, Elixir Carbo Private Ltd. and Elixir Carbo Ltd.) (w.e.f 22 April 2025) and Himadri Integrated Minerals And Resources Limited (HIMRL) (formerly, Himadri Power Ltd.) (w.e.f 11 February 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). <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 and HBTMPL as 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> (b) On 1 April 2025, the Holding Company has converted 30,00,000 number of optionally convertible debentures (OCDs) of Birla Tyres Limited (BTL) having fair value of Rs 3.05 crores into equal number of equity shares of BTL. Subsequently on 7 April 2025 the Holding Company has also acquired balance 9,999 equity shares of Birla Tyres Limited from Dalmia Bharat Refractories Ltd for a total consideration of Re 0.09 crore, thereby Birla Tyres Limited has become wholly owned subsidiary of the Holding Company. Management evaluated the acquisition under the Ind AS 103 "Screen Test" and concluded that the transaction does not constitute a business combination because substantially all of the fair value is concentrated in specialized asset(s). The acquisition was treated as an asset acquisition because the acquired entity lacked a substantive process necessary to produce outputs independently. The purchase price has been allocated to the individual identifiable assets and liabilities based on their relative fair values at the date of acquisition as follows: <BR> Assets Class Allocated cost (Rs. in Crores) <BR> Land and Buildings 4.54 <BR> Other financial assets 0.01 <BR> Current assets 3.30 <BR> Current and Non Current Liabilities (4.71) <BR> 3.14 <BR> <BR> (c) On 1 April 2025, the Holding Company has converted 1,44,118 number of optionally convertible debentures (OCDs) of Himadri Birla Tyre Manufacturer Private Limited (HBTMPL) having fair value of Re 0.14 crore into equal number of equity shares and therby its holding in HBTMPL became 49%. This voting right does not qualify HBTMPL as a subsidiary under Section 2(87) of the Companies Act, 2013. However based on contractual rights (including potential voting right), the Company has the power to make decisions concerning relevant activities and thus has control over HBTMPL as per IND AS 110: "Consolidated Financial Statements." Consequently, the management of the Holding Company has decided to consolidate the financial results of HBTMPL as a subsidiary with effect from 1 April 2025. <BR> Management evaluated the acquisition under the Ind AS 103 "Screen Test" and concluded that the transaction does not constitute a business combination because substantially all of the fair value is concentrated in specialized asset(s). The acquisition was treated as an asset acquisition because the acquired entity lacked a substantive process necessary to produce outputs independently. The purchase price has been allocated to the individual identifiable assets and liabilities based on their relative fair values at the date of acquisition as follows: <BR> Assets Class Allocated cost (Rs. in Crores) <BR> Land 5.78 <BR> Capital work- in- progress 111.89 <BR> Other financial assets 0.00 <BR> Other Non-current assets 12.90 <BR> Current assets 0.17 <BR> Current and Non Current Liabilities (130.45) <BR> 0.29 <BR> <BR> (d) The Holding Company has acquired 100% paid-up equity share capital of Himadri Advance New Energy Material Limited (HANEML) (formerly, Elixir Carbo Private Ltd. and Elixir Carbo Ltd.) on 22 April 2025 for a total purchase consideration of Rs 7.50 crores in cash. The acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with Ind AS 103 ‘Business Combinations’ and the Holding Company has taken over net assets of Rs 1.17 crores and recognised Goodwill of Rs 6.33 crores. <BR> <BR> <BR> (e) The Holding Company has completed acquisition of 60% paid-up equity share capital of Trancemarine and Confreight Logistics Private Limited (TCLPL) for a total purchase consideration of Rs 4.23 crores in cash, by way of purchase of equity shares from the existing shareholder of TCLPL. Consequent to the said acquisition, TCLPL has become Subsidiary of Himadri Speciality Chemical Ltd and Sturdy Niketan Private Limited has become step down subsidiary of the Holding Company w.e.f. 04 April 2025. The acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with Ind AS 103 ‘Business Combinations’ and the Holding Company has taken over net assets of Rs 4.23 crores and recognised Goodwill/Capital reserve of Rs Nil. <BR> <BR> (f) The Holding Company has completed acquisition of 100% paid-up equity share capital of Himadri Integrated Minerals And Resources Limited (HIMRL) (formerly, Himadri Power Ltd.) for a total purchase consideration of Re 0.03 Crore (“Purchase Consideration”) in cash, by way of purchase of equity shares from the existing shareholders of HIMRL. Consequent to the said acquisition, HIMRL has become wholly owned subsidiary of the Holding Company w.e.f. 11 February 2026. The acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with Ind AS 103 ‘Business Combinations’ and the Holding Company has taken over net assets of Re 0.03 crores and recognised Goodwill/Capital reserve of Rs Nil. <BR> <BR> (6) The Nomination and Remuneration Committee of the Holding Company at its meeting held on 5 March 2026, has allotted 22,649 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 50,45,18,950 equity shares to 50,45,41,599 equity shares of face value of Re 1 each. <BR> <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. <BR> <BR> For the current reporting period (FY 2025-26) and the preceding fiscal years, the Group’s consolidated revenue remained below the €750 million threshold. Consequently, the Group is not currently within the scope of the Pillar Two legislation and does not expect any impact on its current tax expense for the reporting period. <BR> <BR> (8) On 21 November 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> <BR> The Group has re-assessed its liability for Gratuity and Leave Encashment using this revised wage base.The resulting increase in the Present Value of Defined Benefit Obligation (PVDBO) has been recognized as a past service cost. In accordance with the ICAI FAQ on Labour codes, the total impact of Rs 2.31 crores has been debited to the Statement of Profit and Loss for the period ended 31 March 2026. A corresponding Deferred Tax Asset has been recognized under Ind AS 12, as these costs are tax-deductible only upon actual payment. <BR> <BR> The Group has evaluated the impact of the OSHWC Code, 2020 regarding contract labour. Based on this assessment and existing service contracts, there is no financial impact on the current reporting period. "The contractual obligation for statutory contributions and wage payments rests with the respective licensed contractors. The Group has monitored compliance and concluded that no secondary liability has devolved upon it during the reporting period." As the Group does not engage contract labour for "core activities," no additional direct liability or permanent employment obligations have been triggered under the new framework. <BR> <BR> (9) The Holding Company has completed the brownfield expansion for installation of a new Speciality Carbon Black line of 70,000 MTPA at the Company’s manufacturing facility situated at Mahistikry, Hooghly, West Bengal. The Commercial Operations of the aforesaid expanded capacity have been commenced with effect from 24 February 2026. <BR> <BR> (10) On 23 April 2026, the Holding Company achieved a milestone with the commencement of its first anode material production facility at Mahistikry, Hooghly, West Bengal, with an initial capacity of 200 MTPA. <BR> <BR> (11) The Board of Directors of the Holding Company has recommended a dividend at the rate of Re 0.80 per equity share of Re 1 each (i.e. 80% of face value of equity share) aggregating to Rs 40.36 crores for the year ended 31 March 2026. The payment of dividend is subject to the approval of the Shareholders at the ensuing Annual General Meeting of the Holding Company. <BR> <BR> (12) Earnings per share is not annualised for the quarter ended 31 March 2026, 31 December 2025, 31 March 2025. <BR> <BR> (13) The consolidated figures for the three months ended 31 March 2026 and the corresponding three months ended 31 March 2025 in the previous year as reported in these consolidated financial results are the balancing figures between audited figures in respect of the full financial year and the published year to date consolidated figures up to the end of the nine months of the relevant financial year. Also the consolidated figures up to the third quarter had only been reviewed and not subjected to audit. <BR> 2025-04-012026-03-31AuditedConsolidated4660700000017129000004831990000026698400000197660000032380000019386000006437000006816000006048200000383109000001000900000001000900000022392000002191000002458300000075507000000000755070000087400000763810000075134000003730000076058000003230000050450000014656230000015.0815.020015.0815.02Other Expenses2103300000Other Expenses6048200000181151000003721800000244300000105580000093514000001018000000144240000010895600000134100000662000000348287000007629600000124770000069642000001647600000570710000014370000027040000015980700000462490000028235200000630639000005045000004656230000047066800000554000000476208000004450000017600000621000001406000002878900000308160000076211000006230000036919000003754200000766000000121413000001238000002940000067000000123615000001544310000063063900000Other non-current financial assets1442400000Other non-current assets662000000Other current financial assets270400000Other current assets4624900000Derivatives15000000Other Financial Liabilities2600000Lease Liablities19100000Other current financial liabilities746900000Other current liabilities123800000(a) Carbon materials and chemicals11239000000(b) Power255400000(c) Others1579200000(a) Carbon materials and chemicals43669400000(b) Power955000000(c) Others274460000013073600000473690000001960000007620000001287760000046607000000(a) Carbon materials and chemicals2136800000(b) Power222100000(c) Others254300000(a) Carbon materials and chemicals8284500000(b) Power812900000(c) Others27800000026132000009375400000173900000643700000-239600000-1277300000267890000010009000000(a) Carbon materials and chemicals40297500000(b) Power998400000(c) Others1786600000430825000001998140000063063900000(a) Carbon materials and chemicals3147200000(b) Power5800000(c) Others165810000048111000001063200000015443100000Other unallocable expenses net of unallocable income includes other income and foreign exchange loss/ (gain) (net), fully unallocable643700000-1772000000-3644000000045000000-3021900000013112000000-216300000068160000000036280000002490000005414000000-19300000000-9737000000-3880300000612870000000023087000000382000000000050887000000000499000004497100000000300000000000000000004479000000-549800000-963810000000143000002525700000-120000000004339700000-9000000188000002963000006710000000059146000009650000009650000015511000001647600000Remeasurement of the net defined benefit plan5300000Net gain/(loss) on investment in equity instruments accounted at fair value-6500000-1200000Remeasurement of the net defined benefit plan3800000Net gain/(loss) on investment in equity instruments accounted at fair value650000010300000300000-1500000Exchange difference in transalating financial statements of foreign operations4600000046000000Exchange difference in transalating financial statements of foreign operations7560000075600000004450000087400000AuditedtrueSinghi and Cotrue2028-08-31