InvestorQ : How were the quarterly numbers of Himadri Chemicals for the September 2022 quarter?
ishika Banerjee made post

How were the quarterly numbers of Himadri Chemicals for the September 2022 quarter?

Answer
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4 weeks ago
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For the third quarter ending September 2022, Himadri Specialty Chemicals reported 64% higher sales revenues at Rs1,059 crore on a consolidated basis. The top line growth for the quarter was largely driven by the core carbon materials and chemical verticals; which grew by 64.7% yoy to Rs1,054 crore. It also has a power vertical, which is relatively very small. Specialty chemicals gained smartly in last few years from domestic demand growth while the global demand has been robust as investors have tried to allocate more of the chemicals sourcing business to India to reduce the supply chain dependence on China.

Himadri Chemicals

Rs in Crore

Sep-22

Sep-21

YOY

Jun-22

QOQ

Total Income (Rs cr)

₹ 1,058.91

₹ 645.29

64.10%

₹ 1,046.64

1.17%

Net Profit (Rs cr)

₹ 35.93

₹ 9.41

281.83%

₹ 38.60

-6.92%

Diluted EPS (Rs)

₹ 0.86

₹ 0.22

₹ 0.92

Net Margins

3.39%

1.46%

3.69%

Let me now turn to the profitability story. Net profits were higher by 282% at Rs35.93 crore, albeit on a small base. The operating performance of the core carbon materials and chemicals vertical turned around from an operating loss of Rs-4.10 crore to an operating profit of Rs68.40 crore. That was the key profit driver in the quarter. Net profit margins at 3.39% in Q2FY23 is higher on yoy basis compared to 1.46% in Q2FY22 but lower than 3.69% in Q1FY23. During the year, Himadri Specialty Chemicals had also raised funds by allotting 7.25 crore warrants to the promoters on preferential basis, which are convertible at 1:1.

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