Revenue from operations rose 14.39% year on year (YoY) to Rs 1,176.95 crore in the quarter ended 31 March 2024.
Profit before tax stood at Rs 165.73 crore in fourth quarter of FY24, up 49.86% from Rs 110.59 crore reported in Q4 FY23.
On a full year basis, the company’s net profit soared 90.19% to Rs 410.77 crore in FY24 over FY23. Revenue from operations rose marginally on YoY basis to Rs 4,184.89 crore in the financial year ended 31 March 2024.
Meanwhile, the board recommended a final dividend of Re 0.50 per equity share for the financial year ended 31 March 2024, subject to approval of shareholders.
Further, the board has approved brownfield expansion of a new speciality carbon black line of 70,000 MTPA at an estimated capex of Rs 220 crore which is scheduled to be operational within 18 months.
Further, based on the recommendation of the nomination and remuneration committee, the board has re-appointed Anurag Choudhary as a chairman, managing director & CEO for a period of five years effective from 14 August 2024 to 13 August 2029.
Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical said, “We are delighted to announce that the company has become debt-free with positive net cash balance as a result of our relentless focus on disciplined capital deployment and working capital utilization. We also take pride in announcing that the company has achieved highest ever sales, EBITDA, and PAT.”
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.