Himadri Specialty Chemical rallied 3.58% to Rs 432.40 after the company’s consolidated net profit jumped 42.33% to Rs 122.62 crore in Q1 FY25 as against Rs 86.15 crore recorded in Q1 FY24.
Revenue from operations increased 26.23% year on year (YoY) to Rs 1,200.41 crore in the quarter ended 30 June 2024.
Profit before tax stood at Rs 178.68 crore in first quarter of FY25, up 50.30% from Rs 118.88 crore reported in Q1 FY24.
EBITDA stood at Rs 188 crore ,registering the growth 43% YoY to Rs 131 crore posted in corresponding quarter last year.
On the segmental front, revenue from the Carbon materials and chemicals business stood at Rs 1,194.34 crore (up 26.36% YoY), and power business was at Rs 25.85 crore (marginally up 0.11% YoY) during the period under review.
Sales volume stood at 1,39,175 MT in Q1 FY25, up 38% from 101,030 MT in Q1 FY24.
Meanwhile, the companys board has approved the proposed acquisition of 100% shareholding of Himadri Green Technologies Innovation by HCEL, a wholly onwed subsidiary (WOS).
The management has proposed to acquire Himadri Green Technologies Innovation through its WOS to make it step down WOS to expand the business through WOS.
Cost of acquisition of equity shares of Himadri Green Technologies Innovation shall be up to Rs 1,00,000 approximately. HCEL will acquire 100% equity shares. The acquisition is expected to be completed within 60 days from the date of signing of share purchase agreement (SPA).
Earlier in 30 November 2023, the company acquired 100% equity shares of Himadri Clean Energy (HCEL). Further, HCEL proposed to acquire 100% shareholding of Himadri Green Technologies Innovation to make it a wholly owned subsidiary (WOS) by entering into a share purchase agreement with the shareholders of the company.
Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals. The Company has operations in India and caters to both domestic and international markets.
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First Published: Jul 16 2024 | 3:19 PM IST
