Himadri Speciality Chemicals Ltd (HSCL), India’s largest speciality carbon black manufacturer, has outlined a two-year strategic roadmap aimed at more than doubling its profitability by FY28. The company, which reported strong revenue and profit growth in Q4FY26, has identified three key pillars for expansion — high-value growth, diversification to enhance business resilience, and sustained improvement in profitability.
According to its latest annual report, Himadri plans to consolidate its core business over the next two years, leveraging investments made in recent years to drive both revenue and margin expansion.
“As we look ahead, growth at Himadri continues to be shaped by purposeful innovation, with R&D embedded at the core of our strategy,
business model and culture. This integrated approach is driving steady progress across our strategic pillars,” said Chairman and CEO Anurag Choudhary.
For FY27, the company aims to fully utilise its expanded speciality carbon black capacity. It also plans to scale up operations at Birla Tyres and enter higher-margin segments such as off-highway tyres (OHT) and commercial vehicles (CV).
In its core chemicals segment, Himadri is pursuing forward integration into anthraquinone and carbazole, with commissioning expected by the second quarter of the current financial year.
“The commencement of our upcoming anthraquinone and carbazole facility is on track and will meaningfully reduce India’s dependence on imports in dyes and pigments. The company remains focused on disciplined capital allocation to drive sustainable returns and maintain a robust ROCE profile,” Choudhary added.
By Q3FY27, the company expects Phase I of its LFP cathode active material plant to become operational. It is also accelerating growth in its Durofresh naphthalene balls brand.
Looking ahead to FY28, Himadri expects full-year benefits from its expanded carbon black capacity and speciality chemicals business. It also plans to enter the passenger car radial (PCR) segment, including tyres for EVs and SUVs, through Birla Tyres.
Additionally, contributions from the LFP cathode material business and full-scale operations of the naphthalene segment are expected to support overall revenue growth.
Shares of Himadri Speciality Chemical currently stands at Rs 607.75 apiece on the NSE, near its 52-week high of Rs 624. The stock has delivered about 40 per cent return in the past one year.
