Himadri Speciality Share Price Posts Its Biggest Weekly Fall Since 2008: What Q2 FY27 Margins, Valuation and Guidance Say
- October 23, 2026
- Posted by: Neeraj Pandey
- Category: News
Himadri Speciality share price closed near Rs 492 on NSE on 23 Oct 2026, down 5.91% on the day, which extended a losing streak to six sessions. The headline report puts the weekly decline at 27.4%, the biggest weekly fall since 2008, and my close-to-close calculation from weekly candles gives about 25%. The fall followed Q2 FY27 results in which profit rose 31% but the EBITDA margin slipped.
Quick Answer
Himadri Speciality share price has fallen sharply because the Q2 FY27 results showed strong growth in revenue and profit but a lower margin. Consolidated revenue rose 57.9% to Rs 1,691 crore and net profit rose 31.3% to Rs 231 crore, yet EBITDA per tonne slipped to about Rs 21,000 from Rs 22,700 in the previous quarter. Management blamed higher container freight costs, a lag in passing on raw material prices and a larger share of exports. This is educational and not a recommendation to buy or sell.
Himadri Speciality share price had been a favourite of long-term holders after a strong run in 2026, so a weekly drop of this size has caught many investors off guard. The company makes carbon black, speciality chemicals and advanced battery materials, and it reported results that look healthy on the surface.
This article on Himadri Speciality share price covers today’s close, the weekly fall, the Q2 FY27 numbers, why margins slipped, the guidance, the valuation and the risks. It is educational and not a recommendation to buy or sell.
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Himadri Speciality Share Price Today
| Himadri Speciality share price: point | Level on 23 Oct 2026 (NSE, about 4:12 PM) |
|---|---|
| Previous close | Rs 522.90 |
| Open | Rs 520.00 |
| Day high | Rs 521.55 |
| Day low | Rs 490.00 |
| Last traded price | Rs 492.00, down 5.91% |
| Volume | About 36.1 lakh shares |
The stock opened close to the previous close and sold off steadily, with the day low about 6.3% below the previous close (my calculation). Himadri Speciality share price is now at the level it traded at in mid April 2026, before a strong rally began. That means much of the rise since April has been given up in a single week.
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How Big Is the Fall in Himadri Speciality Share Price?
| Himadri Speciality share price: reference | Level | Gap from Rs 492 (my calculation) |
|---|---|---|
| Weekly close before the fall (week of 12 Oct) | Rs 660.70 | About 25.5% lower |
| High of 2026 so far (week of 20 Jul) | Rs 819.50 | About 40.0% lower |
| Weekly close in mid April (week of 13 Apr) | Rs 493.55 | About level |
| Low of the past year (week of 24 Nov 2025) | Rs 418.50 | About 17.6% higher |
The headline reports a weekly decline of 27.4%, which may be measured from a different reference price than my weekly-candle calculation of about 25%. Either way, Himadri Speciality share price has lost about two fifths of its value from the July high. The weekly volume of about 2.3 crore shares was about four times the previous week’s volume (my calculation), which shows heavy selling during the weekly fall.
Q2 FY27 Results Behind the Himadri Speciality Share Price
| Himadri Speciality share price: consolidated Q2 FY27 (Rs crore) | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,691 | 1,071 | Up 57.9% |
| EBITDA | 303 | 238 | Up 27.5% |
| EBITDA margin (my calculation) | About 17.9% | About 22.2% | Down about 4.3 points |
| Net profit | 231 | 176 | Up 31.3% |
Revenue grew much faster than EBITDA, which is why the margin fell. For the first half of FY27, revenue was Rs 3,123 crore, up 43%, EBITDA was Rs 616 crore, up 30%, and net profit was Rs 460 crore, up 29%. Management said all three were above its own guidance of Rs 3,000 crore, Rs 600 crore and Rs 450 crore, so the results were not a miss on profit.
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Data note: Quarterly figures are from the company’s Q2 FY27 press release and earnings call report. Data providers may show slightly different totals because of how other income is treated.
Why Margins Slipped: EBITDA Per Tonne
| Himadri Speciality share price: EBITDA per tonne | Figure |
|---|---|
| Q2 FY26 | About Rs 17,900 |
| Q1 FY27 | About Rs 22,700 |
| Q2 FY27 | About Rs 21,000 |
| Management’s stated range over time | Rs 20,000 to Rs 24,000 |
| Export share of sales, Q2 FY27 | 33%, against 26% a year earlier |
EBITDA per tonne is up from a year ago but fell from the previous quarter, and the market reacted to the sequential fall. Management gave three reasons: higher container freight costs, a lag in passing on higher raw material prices to customers and a bigger export mix. Since the Himadri Speciality share price had priced in strong margins, even a small fall hurt.
Guidance, Capex and Projects
| Himadri Speciality share price: management plan | Detail |
|---|---|
| Profit target | Net profit above Rs 1,100 crore by FY28, reiterated |
| Carbon black capacity use | 88% in Q2, guided at 88% to 95% |
| Capex | About Rs 250 crore in Q2; Rs 800 crore to Rs 900 crore planned for FY27 out of about Rs 1,500 crore, funded by internal accruals |
| Carbon nanotubes | 200 tonnes expected in Q4 FY27 |
| LFP cathode material | 2,000 tonnes trial production in Q3 FY27; the 40,000 tonne plant is deferred to the end of FY28 |
| Birla Tyres | Proposed demerger from Dalmia Bharat Refractories into Himadri, subject to approvals; breakeven targeted in FY27 |
The deferral of the large LFP cathode plant to the end of FY28 is a detail that investors in the Himadri Speciality share price should note, since battery materials are a key part of the long-term story. On the other hand, funding the capex from internal accruals keeps the balance sheet light, with debt to equity at about 0.23 according to data provider figures.
Himadri Speciality Share Price Valuation
| Himadri Speciality share price: valuation measure | Figure |
|---|---|
| Trailing earnings per share | Rs 17.03 |
| P/E at Rs 492 (my calculation) | About 28.9 times |
| Industry P/E | 33.92 times |
| Book value per share | Rs 101.77 |
| Price to book at Rs 492 (my calculation) | About 4.8 times |
| Return on equity | 16.65% |
| Dividend yield | 0.15% |
At about 28.9 times trailing earnings, Himadri Speciality share price now trades below the industry multiple of 33.92, which was not the case at the July high. Net profit has grown from Rs 39.05 crore in FY22 to Rs 755.07 crore in FY26, about 19 times in four years (my calculation). A lower price does not make a stock safe, so the quality of future earnings matters more than the multiple.
Risks for the Himadri Speciality Share Price
- Margin pressure. A further fall in EBITDA per tonne below Rs 20,000 would hurt earnings and sentiment.
- Freight and raw material costs. Delays in passing on costs reduce margins when prices rise quickly.
- Export dependence. A 33% export share raises exposure to freight rates and global demand.
- Project execution. The battery materials and carbon nanotube projects need to start on time and win customers.
- Birla Tyres. The tyre business is near breakeven and the demerger needs approvals.
- Sentiment. Stocks that fall this fast can stay volatile until the selling is exhausted.
Himadri Speciality Share Price: Investor Views
Long-term investors can check whether the growth plan for battery materials and speciality products is intact, since a market reaction to one quarter does not change that on its own. Short-term traders may watch whether the stock holds the Rs 490 zone, the day low, and whether volumes fall as the selling slows. Cautious investors may prefer to wait for the Q3 FY27 numbers and the EBITDA per tonne trend. This is an educational view and not advice.
What to Watch Next on the Himadri Speciality Share Price
- The closing price against Rs 490 and the mid April level of about Rs 493
- EBITDA per tonne in Q3 FY27 against the Rs 20,000 to Rs 24,000 range
- Container freight and raw material cost trends
- Progress on the LFP cathode trial and carbon nanotube projects
- Approvals for the Birla Tyres demerger
Conclusion
Himadri Speciality share price fell 5.91% to about Rs 492, capping a weekly drop reported at 27.4%, even though Q2 FY27 profit rose 31% to Rs 231 crore. The market is reacting to a lower margin and EBITDA per tonne of about Rs 21,000. Read the filings and decide on your own horizon.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Why is Himadri Speciality share price falling?
Ans. The stock is reacting to Q2 FY27 results in which EBITDA per tonne slipped to about Rs 21,000 from Rs 22,700 in the previous quarter, so the margin fell. Management cited higher container freight costs, a lag in passing on raw material prices and a larger export share of 33%.
How much has Himadri Speciality share price fallen this week?
Ans. The headline reports a weekly decline of 27.4%, the biggest since 2008. My close-to-close calculation from weekly candles gives about 25%, from Rs 660.70 to about Rs 492, and the stock is about 40% below its July high of Rs 819.50.
What were Himadri Speciality’s Q2 FY27 results?
Ans. Consolidated revenue was Rs 1,691 crore, up 57.9%, EBITDA was Rs 303 crore, up 27.5%, and net profit was Rs 231 crore, up 31.3% from a year earlier. For H1 FY27, net profit was Rs 460 crore, up 29%.
Is Himadri Speciality share price attractive at current levels?
Ans. At about 28.9 times trailing earnings, it trades below the industry P/E of 33.92 and at about 4.8 times book value. A lower multiple does not mean the stock is good value, so check whether margins stabilise after the weekly fall.
What is Himadri Speciality’s profit guidance?
Ans. Management reiterated net profit above Rs 1,100 crore by FY28 and EBITDA per tonne in the range of Rs 20,000 to Rs 24,000 over time. It guided carbon black capacity utilisation at 88% to 95%.
What are the risks to Himadri Speciality share price?
Ans. Risks include further pressure on EBITDA per tonne, freight and raw material cost swings, export dependence, project execution on battery materials and the Birla Tyres demerger approvals. Check each against company filings.
What should investors watch next for Himadri Speciality?
Ans. Watch the Rs 490 support zone, EBITDA per tonne in Q3 FY27, cost trends, project updates and the demerger approvals. This is educational and not investment advice.
Is this article investment advice?
Ans. No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.
