MarketFriction

Himadri Speciality Chemical Ltd

NSE HSCL · BSE 500184 · Carbon Black
₹665.15 -1.87%
NSE close2026-10-01
52 week range418.50 - 819.50
Market cap₹33,685 Cr.
P/E42.2
Nifty 500Nifty Smallcap 50Nifty Smallcap 100Smallcap 250 Price band 20% Delivery 45.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,0051,0531,1771,2001,1371,1411,1351,1181,0711,1841,2881,432
Expenses8478799971,0089299209018738389411,0461,144
Operating Profit158174180192208221233245233243242288
OPM %16%17%15%16%18%19%21%22%22%20%19%20%
Other Income101012131412142736476256
Interest16211413111291615161722
Depreciation121313131315141517181921
Profit before tax139150166179197206224241237255268301
Tax %28%28%30%31%31%31%31%26%26%25%23%24%
Net Profit101109115123136141155179176192208228
EPS in Rs2.292.472.342.482.742.883.153.683.573.813.984.55
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,1821,3412,0222,4221,8061,6792,7914,1724,1854,6134,6614,974
Expenses1,0361,1071,5691,8631,5251,5492,6353,7733,5403,7583,6993,969
Operating Profit1462334525602801311563996458549621,005
OPM %12%17%22%23%16%8%6%10%15%19%21%20%
Other Income96128814-17-24352171201
Interest1118270715533366664456471
Depreciation673333343947505150556875
Profit before tax-2312536146219465532805748061,0011,060
Tax %-19%34%31%30%-6%27%27%23%28%31%25%
Net Profit-19822483242054739216411555755804
EPS in Rs-0.441.985.917.754.911.130.984.998.3411.2514.8915.91
Dividend Payout %-11%5%2%2%3%13%20%5%6%5%5%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth15%23%4%10%
Compounded Profit Growth44%74%47%30%
Stock Price CAGR33%67%40%52%
Return on Equity14%14%17%18%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital394242424242424243494950
Reserves7508379881,3731,5901,6921,7511,8262,2372,9963,6724,656
Borrowings1,124887774660476505729587842605313770
Other Liabilities329296308341680323269999555798621830
Total Liabilities2,2422,0622,1122,4162,7882,5622,7913,4543,6784,4494,6566,306
Fixed Assets1,2281,1801,1741,1781,1701,4751,4681,5461,5151,5341,6051,942
CWIP14311322133158160779467185372
Investments23538727317947661131324785821,060
Other Assets9777988389431,3058821,0981,7181,9382,3712,2832,933
Total Assets2,2422,0622,1122,4162,7882,5622,7913,4543,6784,4494,6566,306
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity212296205258476283-4033154405447382
Cash from Investing Activity128-610-50-224-214-114-28-397-405-235-963
Cash from Financing Activity-348-278-233-200-257-41165-1823777-271590
Net Cash Flow-712-188-62811121347-6010
Free Cash Flow18428120119527236-76308-22352276-63
CFO/OP169%203%98%75%102%113%-20%223%25%77%69%64%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days8263604955611006644575055
Inventory Days12213816411212412110012561856896
Days Payable36507439100684512739692847
Cash Conversion Cycle1681511501227911315565667390103
Working Capital Days4-221929401015-11326957
ROCE %3%5%11%22%25%11%4%5%13%19%22%22%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters44.86%44.79%50.29%50.20%50.78%51.56%51.61%51.60%51.57%52.49%52.49%52.49%
FIIs5.12%5.39%5.13%5.16%5.24%5.15%5.38%5.20%5.74%5.75%5.98%6.80%
DIIs0.50%0.63%2.12%2.27%3.60%4.24%4.62%4.83%3.21%3.09%3.22%3.33%
Public49.53%49.18%42.47%42.36%40.38%39.05%38.38%38.36%39.46%38.66%38.32%37.38%
No. of Shareholders4,40,4154,38,4144,36,7004,35,6284,47,6664,54,9434,45,7684,48,3394,53,8104,29,3914,08,4084,14,141

Fundamentals

Market Cap₹ 33,685 Cr.
Current Price₹ 668
Stock P/E42.2
Book Value₹ 93.3
ROCE22.1 %
ROE17.8 %
Dividend Yield0.12 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)10%
Compounded Profit Growth (TTM)30%
Consolidated figures.
Valuation
Market capRs 33,560 Cr
Enterprise valueRs 33,594 Cr
P/E (TTM)41.99x
Price to book7.13x
Price to sales6.75x
EV / EBITDA27.86x
EV / EBIT29.70x
EV / sales6.75x
Price to cash flow87.85x
Earnings yield2.38%
Dividend yield0.12%
P/E, 3-year average34.54x
P/B, 3-year average5.08x
P/E, 5-year average39.43x
P/B, 5-year average3.72x
Profitability
Operating margin (excl. other income)20.64%
Operating margin (incl. other income)24.32%
EBITDA margin24.24%
Pre-tax margin21.31%
Net profit margin16.07%
Net margin, latest quarter16.03%
ROE17.83%
ROCE22.40%
ROA13.71%
ROE, 3-year average16.56%
ROCE, 3-year average21.12%
ROA, 3-year average12.01%
ROE, 5-year average12.46%
ROCE, 5-year average15.87%
ROA, 5-year average8.68%
ROIC (approx.)18.00%
Tax rate24.56%
Other income / net worth3.64%
Growth
Sales growth (latest year)1.04%
Profit growth (latest year)35.22%
Sales CAGR, 3 years3.76%
Sales CAGR, 5 years22.65%
Profit CAGR, 3 years51.52%
Profit CAGR, 5 years73.73%
Sales growth QoQ11.19%
Profit growth QoQ14.31%
Sales growth YoY (latest quarter)28.04%
Profit growth YoY (latest quarter)26.33%
Per share
EPS (TTM)Rs 15.84
EPS (latest year)Rs 14.89
EPS (latest quarter)Rs 4.55
EPS, 3-year averageRs 11.49
EPS, 5-year averageRs 8.09
Book value per shareRs 93.29
Sales per shareRs 98.59
Cash flow per shareRs 7.57
Free cash flow per shareRs -1.25
Dividend per share (latest year)Rs 0.80
Dividend per share, 3-year averageRs 0.63
Dividend per share, 5-year averageRs 0.47
Dividends
Dividend payout5.37%
Dividend payout, 3-year average5.57%
Dividend payout, 5-year average8.43%
Efficiency
Asset turnover0.74x
Fixed asset turnover2.40x
Inventory turnover3.89x
Inventory days94 days
Debtor days55 days
Debtors turnover6.69x
Creditor days47 days
Cash conversion cycle103 days
Working capital days57 days
Leverage
Total debtRs 770 Cr
Cash and bankRs 735 Cr
Net debtRs 35 Cr
Debt to equity0.16x
Net debt / EBITDA0.03x
Interest coverage15.94x
Current ratio (filing 2026-03-31)2.28x
Quick ratio (filing 2026-03-31)1.67x
Trade payables (filing 2026-03-31)Rs 375 Cr
Owners' fund to total sources74.63%
Debt to assets12.21%
Cash flow
Cash from Operating Activity (latest year)Rs 382 Cr
Cash from Investing Activity (latest year)Rs -963 Cr
Cash from Financing Activity (latest year)Rs 590 Cr
Net Cash Flow (latest year)Rs 10 Cr
Free cash flow (latest year)Rs -63 Cr
FCFE (approx.: FCF + change in debt)Rs 394 Cr
Cash from ops / profit, 5 years0.82x
Sales to cash flow12.20x
Statement figures
Net sales (TTM)Rs 4,974 Cr
Net sales (latest year)Rs 4,661 Cr
Sales (latest quarter)Rs 1,432 Cr
Operating profit excl. other income (latest year)Rs 962 Cr
Operating profit (latest quarter)Rs 288 Cr
Other income (TTM)Rs 201 Cr
EBITDA (TTM)Rs 1,206 Cr
PBDT (TTM)Rs 1,135 Cr
Profit before tax (TTM)Rs 1,060 Cr
Tax (latest year)Rs 246 Cr
Net profit (TTM)Rs 799 Cr
Net profit (latest year)Rs 751 Cr
Net profit (latest quarter)Rs 230 Cr
Depreciation (TTM)Rs 75 Cr
Depreciation (latest quarter)Rs 21 Cr
Interest (TTM)Rs 71 Cr
Cost of goods sold (latest year)Rs 2,971 Cr
Total expenditure (latest year)Rs 3,699 Cr
Total income (latest year)Rs 4,832 Cr
Share capitalRs 50 Cr
ReservesRs 4,656 Cr
Shareholders' fundsRs 4,707 Cr
Total assetsRs 6,306 Cr
Net blockRs 1,942 Cr
Capital work in progressRs 372 Cr
InvestmentsRs 1,060 Cr
ReceivablesRs 696 Cr
InventoryRs 763 Cr
Other liabilitiesRs 830 Cr
Shares outstanding (crore)50.45
Ownership
Promoter holding52.49% (+0.89 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 42.0 is at the 44th percentile of its own 9.4-year range (median 45.6, low 4.6, high 157.5).
P/B 7.13 is at the 78th percentile (median 4.19).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodHSCLNifty 50Difference
1 week-1.4%-2.8% +1.3 pts
1 month-2.3%-6.8% +4.5 pts
3 months-2.3%-7.6% +5.3 pts
6 months+50.6%+0.4% +50.2 pts
1 year+43.9%-9.9% +53.8 pts
2 years+2.8%-13.6% +16.4 pts
3 years+173.3%+14.2% +159.1 pts
5 years+1190.3%+27.9% +1162.4 pts
53 mutual fund schemes hold about ₹167 Cr. Over three months 10 bought more and 9 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Nifty Smallcap 250 Index Fund0.70%25 -4%
Axis Nifty Smallcap 50 Index Fund1.88%14 -9%
SBI Nifty Smallcap 250 Index Fund0.70%13 -4%
Union Active Momentum Fund2.30%12 +100%
Capitalmind Flexi Cap Fund2.61%12 +5%
Motilal Oswal Nifty Smallcap 250 Index Fund0.70%9 -4%
Samco Flexi Cap Fund3.34%9 +100%
NJ Momentum Fund2.15%7 +100%
Aditya Birla SL Nifty Smallcap 50 Index Fund1.88%7 -8%
Edelweiss Nifty500 Multicap Momentum Quality 50 Index Fund1.09%7 -1%
DSP Nifty Smallcap250 Quality 50 Index Fund2.04%6 -4%
DSP Nifty500 Flexicap Quality 30 Index Fund3.16%6 +100%
ICICI Pru Nifty Smallcap 250 Index Fund0.70%6 -4%
HDFC NIFTY Smallcap 250 Index Fund0.70%5 -4%
Kotak Nifty Smallcap 50 Index Fund1.88%4 -8%
Samco Small Cap Fund1.84%4 +256%
JioBlackRock Nifty Smallcap 250 Index Fund0.70%3 -4%
Samco ELSS Tax Saver Fund2.33%3 +100%
Motilal Oswal Nifty 500 Index Fund0.08%2 -3%
Edelweiss Nifty Smallcap 250 Index Fund0.70%2 -4%
Samco Special Opportunities Fund1.06%1 +100%
Nippon India Nifty 500 Equal Weight Index Fund0.20%1 -3%
UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund0.73%1 -5%
Groww Nifty Smallcap 250 Index Fund0.70%1 -4%
HDFC Nifty500 Multicap 50:25:25 Index Fund0.18%1 -3%

Red flags

F-score 3 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2025-11-07Anurag ChoudharyPromotersother6,000,000Rs 189.60 CrPreferential Offer
2025-11-07Amit ChoudharyPromotersother4,000,000Rs 126.40 CrPreferential Offer
2022-04-21Kamlesh Kumar AgarwalKey Managerial Personnelother65,000Rs 0.12 CrESOP
2022-04-21Dr Soumen ChakrabortyKey Managerial Personnelother56,818Rs 0.11 CrESOP
2021-03-26Mukund Kumar JhaEmployees/Designated Employesell95,300Rs 0.41 CrMarket Sale
2021-03-26Mukund Kumar JhaEmployees/Designated Employebuy110,700Rs 0.48 CrMarket Purchase
2020-11-20Himadri Credit & Finance LtdPromoter Groupsell8,002,933Rs 33.35 CrMarket Sale
2020-11-20Saroj Devi ChoudharyPromoterssell822,850Rs 3.38 CrMarket Sale
2020-11-20Kanta Devi ChoudharyPromoterssell822,850Rs 3.38 CrMarket Sale
2020-11-20Sushila Devi ChoudharyPromoterssell850,000Rs 3.54 CrMarket Sale
2020-11-18Shyam Sundar ChoudharyPromoterssell3,234,280Rs 14.44 CrMarket Sale
2020-11-18Sheela Devi ChoudharyPromoterssell763,420Rs 3.32 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹1,432 Cr +28.1% vs Jun 2025. Net profit ₹228 Cr +27.4%.
Against our estimate for Jun 2026: sales +17.9%, profit +16.0% big beat. Our estimate for Sep 2026: sales Rs 1,294 Cr, profit Rs 209 Cr (how).

Activity

Compare
CompanyMcap (Cr)P/EROCE
PCBL Chemical Ltd13,00249.17.75 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-05-22Dividend - Re 0.80 Per Share
2025-05-23Dividend - Rs 0.60 Per Share
2024-06-07Annual General Meeting/Dividend - Re 0.50 Per Share
2023-06-09Annual General Meeting/Dividend - Re 0.25 Per Share
2022-09-20Annual General Meeting/Dividend - Re 0.20 Per Share
2021-09-21 Annual General Meeting/Dividend - Rs 0.15 Per Share
2020-09-18 Annual General Meeting/Dividend - Rs 0.15 Per Sharee
2019-09-17 Annual General Meeting/Dividend - Rs 0.15 Per Share
2018-08-23 Annual General Meeting/Dividend Re - 0.10 Per Share
2017-09-13 Annual General Meeting/Dividend - Re 0.10 Per Share
2016-09-15 Annual General Meeting And Dividend Re.0.05 Per Share
2015-09-14 Annual General Meeting
2014-09-12Annual General Meeting / Dividend - Re 0.10/- Per Share
2013-09-13Annual General Meeting / Dividend - Re 0.10/- Per Share
2012-09-10Annual General Meeting And Dividend Re.0.10 Per Share
2011-09-19Annual General Meeting/Dividend Re 0.10 Per Share
2010-11-08Face Value Split From Rs.10/- To Re.1/-0.1000
2010-09-20Annual General Meeting And Dividend Re.1/- Per Share
2009-09-10Agm/Div-Re.1/- Per Share
2008-09-18Agm/Dividend - 20%
2007-09-06Agm/Dividend-50%
DateTypeWhat it says
2026-09-25Shareholder meetingNotice of Postal Ballot
2026-09-24General UpdatesDivestment of stake in a Step-down Subsidiary by Trancemarine and Confreight Logistics Private Limited, a Subsidiary of the Company
2026-09-23Concall / analyst meetSchedule of Analyst / Institutional Investor meeting
2026-09-21DemergerScheme of Arrangement between Dalmia Bharat Refractories Limited ( Demerged Company ) and Himadri Speciality Chemical Ltd ( Resulting Company ) and th...
2026-09-21Board meeting outcomeOutcome of Board Meeting held on September 21, 2026 approving Scheme of Arrangement between Dalmia Bharat Refractories Limited ( Demerged Company ) an...
2026-09-18UpdatesThis is to inform you that a meeting of the Board of Directors ( Board ) of Himadri Speciality Chemical Ltd ( Company ) is scheduled to be held on Mon...
2026-09-18Board meeting outcomeThe Board of Directors ( Board ) at its meeting held today i.e., on 18 September 2026, inter-alia has considered and approved the alteration to the ex...
2026-09-18Amendment to AOA/MOAThe Amendment to AOA/MOA of the company.
2026-09-16Concall / analyst meetSchedule of Analyst / Institutional Investor meeting
2026-08-31AcquisitionIncorporation of foreign Wholly Owned Subsidiary in Dubai, UAE
2026-08-25AcquisitionUpdate on investment in Sicona Battery Technologies Pty Ltd
2026-08-10ESOPAllotment of 13576 Shares.
2026-07-21Concall / analyst meetTranscript
2026-07-16Concall / analyst meetLink of Recording
2026-07-15Press ReleaseA press release dated July 15, 2026, titled "Investor Release: 15 July 2026, Kolkata".
2026-07-15Investor PresentationInvestor Presentation
2026-07-15Monitoring Agency ReportMonitoring Agency Report for the quarter ended 30 June 2026
2026-07-15Adoption of new line(s) of bAdoption of new line(s) of business
2026-07-15Board meeting outcomeHimadri Speciality Chemical Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-13Concall / analyst meetSchedule of meet
2026-07-10Credit RatingCredit Rating
2026-07-09UpdatesIntimation regarding issuance and allotment of Commercial Paper amounting to Rs. 150 Crore .
2026-07-06ESOPAllotment of 19000 Shares pursuant to Himadri Employee Stock Option Plan 2016.
2026-06-20UpdatesOpening of Office in Mumbai .
2026-06-19Press ReleaseA press release dated Jun 19, 2026, titled " Himadri Speciality Chemical Increases Stake in International Battery Company to 20.47%, Reinforcing Commi...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Himadri Speciality Chemical Ltd?

Himadri Speciality Chemical Ltd (HSCL) has a market capitalisation of Rs 33,685 Cr. at the 2026-10-01 close.

What is the P/E ratio of Himadri Speciality Chemical Ltd?

Himadri Speciality Chemical Ltd trades at a P/E of 42.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were Himadri Speciality Chemical Ltd's latest quarterly results?

In the Jun 2026 quarter, Himadri Speciality Chemical Ltd sales was Rs 1,432 Cr (+28.1% vs Jun 2025) and net profit was Rs 228 Cr.

What is the 52-week high and low of Himadri Speciality Chemical Ltd?

The 52-week high is Rs 819.50 and the 52-week low is Rs 418.50.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03