Himadri Specialty Chemicals is a small cap company which has 4,475.92 crore during Friday’s closing. The stock ended on a green note up 2.07% during its last trading session after the company declared impressive Q4 earnings along with dividend for its eligible shareholders.
“The board has recommended to the shareholders a final dividend of Rs. 0.25 per equity share (i.e. 25% of the face value of the equity share) for the financial year 2022-23,” Himadri Specialty Chemical said in a stock exchange filing.
During Q4FY23, the company registered revenue from operations of 1,029 Cr, up 23.4% YoY 834 Cr in Q4FY22 while its revenue grew by 49% to Rs. 4,172 crore in FY23. Company recorded EBITDA 122 crore during the quarter ending March 2023, up 122.5% from 55 crore during the quarter ended March 2022 while its Ebitda grew by 153% to Rs. 408 crore in FY23. During Q4FY23, the PAT of the company stood at 77 Cr, up 261.7% YoY 21 Cr during the year-ago quarter while PAT grew by 219% to Rs. 208 crores in FY23.
Commenting on the results and performance, Mr. Anurag Chowdhary, CMD, Himadri Specialty Chemical Ltd. said, “We are pleased to report a strong performance in FY23 with highest ever revenue. Our strong focus on core businesses and our continued commitment to providing value-added products, coupled with R&D, innovation and improvements in our business model, have led us to consistently achieve sustainable results and increase our profitability.”
“India’s push for a green economy is driving significant growth in the electric vehicle (EV) industry. To reduce dependence on imports, the government is stressing the need for battery production locally, as a substantial portion of lithium-ion cell requirements are currently being imported. At Himadri, we are delighted to be at the forefront of a massive shift towards a green economy, aligned with India’s vision of becoming a self-reliant nation (Atmanirbhar Bharat) and reducing carbon emissions,” Anurag Chowdhary said.
“Over the years, Himadri has built a strong product portfolio, superior facilities for advanced R&D and world-class know-how to build a futuristic organization. Our deep domain knowledge, coupled with an innate ability to imbibe change and promote novel approaches have kept us a step ahead of the competition. At the same time, our core business is performing well and we remain committed to improving our financial position. We continue to make progress and have significantly reduced our balance sheet by significantly reducing debt. We are confident that with our strong business model and strategic focus, we will continue to achieve sustainable growth in the future,” added Anurag Choudhary.
Share of Himadri Specialty Chemical on BSE on Friday 103.44 each level, up 2.07% from previous close 101.34.
Know your inner investor
Do you have guts of steel or are you a victim of insomnia regarding your investments? Let’s define your investment approach.
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.