{"id":77287,"date":"2026-04-24T17:50:40","date_gmt":"2026-04-24T12:20:40","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=77287"},"modified":"2026-04-24T17:50:42","modified_gmt":"2026-04-24T12:20:42","slug":"himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/","title":{"rendered":"Himadri Speciality Chemical Q4 FY26 Results: PAT \u20b9201 Crore (+29% YoY), Record FY26 EBITDA \u20b91,006 Crore"},"content":{"rendered":"<p>Himadri Speciality Chemical Q4 FY26 results are out, delivering a strong close to a landmark year for the Kolkata-based speciality chemicals company. Himadri Speciality Chemical Q4 consolidated net profit jumped 29% year-on-year to \u20b9200.79 crore, compared to \u20b9155.58 crore in Q4 FY25. Himadri Speciality Chemical Q4 revenue from operations grew 13.5% YoY to \u20b91,287.76 crore \u2014 the highest quarterly revenue in the company&#8217;s history.<\/p><p>Himadri Speciality Chemical Q4 closes FY26 with record full-year EBITDA of \u20b91,006 crore \u2014 the first time the company crossed the \u20b91,000 crore EBITDA milestone \u2014 up 19% year-on-year. Himadri Speciality Chemical Q4 FY26 full-year PAT was \u20b9755 crore, up 36% YoY, while full-year revenue reached \u20b94,831 crore. CMD &amp; CEO Anurag Choudhary called FY26 a year where &#8220;ambition met execution.&#8221;<\/p><p>Himadri Speciality Chemical Q4 board declared a final dividend of \u20b90.80 per equity share (face value \u20b91) and approved incorporation of a foreign wholly-owned step-down subsidiary in Guangzhou, China \u2014 marking the company&#8217;s global expansion into the world&#8217;s largest specialty carbon black market. Himadri Speciality Chemical Q4 also commissioned its new 70,000 MTPA Speciality Carbon Black line at Mahistikry, West Bengal, making it the world&#8217;s largest single-location Speciality Carbon Black facility.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#Himadri_Speciality_Chemical_Q4_FY26_Results_Date_and_China_Expansion\" title=\"Himadri Speciality Chemical Q4 FY26 Results Date and China Expansion\">Himadri Speciality Chemical Q4 FY26 Results Date and China Expansion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#Why_Himadri_Speciality_Chemical_Q4_FY26_Matters\" title=\"Why Himadri Speciality Chemical Q4 FY26 Matters\">Why Himadri Speciality Chemical Q4 FY26 Matters<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#Himadri_Speciality_Chemical_Q4_FY26_%E2%80%94_Actual_Financial_Results\" title=\"Himadri Speciality Chemical Q4 FY26 \u2014 Actual Financial Results\">Himadri Speciality Chemical Q4 FY26 \u2014 Actual Financial Results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#5_Key_Factors_That_Will_Drive_Himadri_Speciality_Chemical_Q4_FY26_Performance\" title=\"5 Key Factors That Will Drive Himadri Speciality Chemical Q4 FY26 Performance\">5 Key Factors That Will Drive Himadri Speciality Chemical Q4 FY26 Performance<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#Worlds_Largest_Single-Location_Speciality_Carbon_Black_Facility\" title=\"World&#8217;s Largest Single-Location Speciality Carbon Black Facility\">World&#8217;s Largest Single-Location Speciality Carbon Black Facility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#Battery_Materials_%E2%80%94_EV_Anode_Segment_Driving_Premium_Pricing\" title=\"Battery Materials \u2014 EV Anode Segment Driving Premium Pricing\">Battery Materials \u2014 EV Anode Segment Driving Premium Pricing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#China_Guangzhou_Subsidiary_%E2%80%94_Direct_Access_to_Global_Battery_Market\" title=\"China Guangzhou Subsidiary \u2014 Direct Access to Global Battery Market\">China Guangzhou Subsidiary \u2014 Direct Access to Global Battery Market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#Record_Full-Year_EBITDA_of_%E2%82%B91006_Crore\" title=\"Record Full-Year EBITDA of \u20b91,006 Crore\">Record Full-Year EBITDA of \u20b91,006 Crore<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#Carbon_Materials_for_High-Value_Industrial_Applications\" title=\"Carbon Materials for High-Value Industrial Applications\">Carbon Materials for High-Value Industrial Applications<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#5_Risks_to_Watch_in_Himadri_Speciality_Chemical_Q4_FY26\" title=\"5 Risks to Watch in Himadri Speciality Chemical Q4 FY26\">5 Risks to Watch in Himadri Speciality Chemical Q4 FY26<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#EBIT_Margin_Compression_in_Q4\" title=\"EBIT Margin Compression in Q4\">EBIT Margin Compression in Q4<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#China_Subsidiary_%E2%80%94_Execution_and_Geopolitical_Risk\" title=\"China Subsidiary \u2014 Execution and Geopolitical Risk\">China Subsidiary \u2014 Execution and Geopolitical Risk<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#Dependence_on_Other_Income_for_PAT_Beat\" title=\"Dependence on Other Income for PAT Beat\">Dependence on Other Income for PAT Beat<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#Coal_Tar_Pitch_Raw_Material_Price_Volatility\" title=\"Coal Tar Pitch Raw Material Price Volatility\">Coal Tar Pitch Raw Material Price Volatility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#High_Valuation_After_Stock_Re-rating\" title=\"High Valuation After Stock Re-rating\">High Valuation After Stock Re-rating<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#What_was_Himadri_Speciality_Chemical_Q4_FY26_net_profit\" title=\"What was Himadri Speciality Chemical Q4 FY26 net profit?\">What was Himadri Speciality Chemical Q4 FY26 net profit?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#What_was_Himadri_Speciality_Chemical_Q4_FY26_revenue\" title=\"What was Himadri Speciality Chemical Q4 FY26 revenue?\">What was Himadri Speciality Chemical Q4 FY26 revenue?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#What_is_the_Himadri_Speciality_Chemical_China_expansion\" title=\"What is the Himadri Speciality Chemical China expansion?\">What is the Himadri Speciality Chemical China expansion?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#What_was_Himadri_Speciality_Chemicals_FY26_EBITDA\" title=\"What was Himadri Speciality Chemical&#8217;s FY26 EBITDA?\">What was Himadri Speciality Chemical&#8217;s FY26 EBITDA?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#What_dividend_did_Himadri_Speciality_Chemical_declare_for_FY26\" title=\"What dividend did Himadri Speciality Chemical declare for FY26?\">What dividend did Himadri Speciality Chemical declare for FY26?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#What_is_Himadri_Speciality_Chemicals_carbon_black_capacity\" title=\"What is Himadri Speciality Chemical&#8217;s carbon black capacity?\">What is Himadri Speciality Chemical&#8217;s carbon black capacity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#When_did_TCS_declare_Q4_FY26_results\" title=\"When did TCS declare Q4 FY26 results?\">When did TCS declare Q4 FY26 results?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/univest.in\/blogs-2\/himadri-speciality-chemical-q4-fy26-results-pat-201-crore-record-ebitda-china\/#Recent_Article\" title=\"Recent Article\">Recent Article<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Himadri_Speciality_Chemical_Q4_FY26_Results_Date_and_China_Expansion\"><\/span><strong>Himadri Speciality Chemical Q4 FY26 Results Date and China Expansion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Get real-time stock research and expert analysis on <a href=\"https:\/\/univest.in\/user\/log-in\">Univest<\/a>.<\/p><p>Himadri Speciality Chemical Q4 FY26 results were declared at the board meeting held on April 23, 2026. The board approved incorporation of a Guangzhou subsidiary \u2014 a landmark strategic move into China&#8217;s battery materials market. Himadri Speciality Chemical Q4 total Speciality Carbon Black capacity at Mahistikry now stands at 250,000 MTPA, with 130,000 MTPA dedicated to Speciality Carbon Black.<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Company<\/strong><\/td><td><strong>Q4 Results Date<\/strong><\/td><td><strong>Status<\/strong><\/td><\/tr><tr><td>TCS<\/td><td>April 9, 2026<\/td><td>Declared<\/td><\/tr><tr><td>HCL Technologies<\/td><td>April 21, 2026<\/td><td>Declared<\/td><\/tr><tr><td>Himadri Speciality Chemical<\/td><td>April 23, 2026<\/td><td>Declared<\/td><\/tr><tr><td>Infosys<\/td><td>April 23, 2026<\/td><td>Declared<\/td><\/tr><\/tbody><\/table><\/figure><p>TCS Q4 FY26 results were declared April 9. Analysis at <a href=\"https:\/\/univest.in\/blogs\/tcs-q4-results-2026-date-preview\">Univest Blogs \u2014 TCS Q4 FY26 Results<\/a>.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Himadri_Speciality_Chemical_Q4_FY26_Matters\"><\/span><strong>Why Himadri Speciality Chemical Q4 FY26 Matters<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Himadri Speciality Chemical Q4 is the culmination of a transformative FY26 \u2014 the company&#8217;s first \u20b91,000 crore EBITDA year, record carbon black capacity, and the bold move into China signal a structural shift from a domestic speciality chemicals player to a global force. Himadri Speciality Chemical Q4 battery materials strategy \u2014 targeting anode materials for lithium-ion batteries \u2014 positions the company at the intersection of two of the world&#8217;s fastest-growing markets: electric mobility and energy storage.<\/p><p>Himadri Speciality Chemical Q4 Guangzhou approval is particularly significant because China is the world&#8217;s largest manufacturer of lithium-ion batteries and the dominant consumer of speciality carbon black for battery anodes. Himadri Speciality Chemical Q4 China subsidiary would allow direct customer relationships with Chinese battery manufacturers who collectively supply global EV OEMs.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Himadri_Speciality_Chemical_Q4_FY26_%E2%80%94_Actual_Financial_Results\"><\/span><strong>Himadri Speciality Chemical Q4 FY26 \u2014 Actual Financial Results<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Himadri Speciality Chemical Q4 FY26 actual results significantly beat expectations. Himadri Speciality Chemical Q4 PAT of \u20b9201 crore (29% YoY growth) was well above analyst estimates as the record quarterly revenue, margin improvement, and lower effective tax rate (22.53% vs 30.71% in Q4 FY25) all contributed positively.<\/p><p>Access premium research on <a href=\"https:\/\/univest.in\/user\/log-in\">Univest<\/a>.<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Metric<\/strong><\/td><td><strong>Q4 FY25 (Base)<\/strong><\/td><td><strong>Q4 FY26 Actual<\/strong><\/td><td><strong>YoY Change<\/strong><\/td><td><strong>Notes<\/strong><\/td><\/tr><tr><td>Revenue (\u20b9 Cr)<\/td><td>1,134<\/td><td>1,288<\/td><td>+13.5%<\/td><td>Record quarterly revenue<\/td><\/tr><tr><td>PAT (\u20b9 Cr)<\/td><td>155.58<\/td><td>200.79<\/td><td>+29%<\/td><td>Beat estimates<\/td><\/tr><tr><td>FY26 EBITDA (\u20b9 Cr)<\/td><td>847<\/td><td>1,006<\/td><td>+19%<\/td><td>First \u20b91,000 Cr milestone<\/td><\/tr><tr><td>FY26 PAT (\u20b9 Cr)<\/td><td>555<\/td><td>755<\/td><td>+36%<\/td><td>Strong full year<\/td><\/tr><tr><td>Final Dividend (\u20b9\/share)<\/td><td>\u2014<\/td><td>0.80<\/td><td>\u2014<\/td><td>Face value \u20b91<\/td><\/tr><tr><td>China Subsidiary<\/td><td>\u2014<\/td><td>Guangzhou Approved<\/td><td>\u2014<\/td><td>Global expansion<\/td><\/tr><\/tbody><\/table><\/figure><p>Himadri Speciality Chemical Q4 other income surged to \u20b962.09 crore from \u20b913.52 crore in Q4 FY25 \u2014 a 359% YoY increase. This non-operating income boost partly explains the PAT beat. Himadri Speciality Chemical Q4 core EBIT margin of 18.77% (vs 20.56% in Q4 FY25) shows some operating margin compression, which investors should monitor in Q1 FY27.<\/p><p>Screen <a href=\"https:\/\/univest.in\/screeners\">HIMADRIND fundamentals<\/a> on the Univest Screener.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Key_Factors_That_Will_Drive_Himadri_Speciality_Chemical_Q4_FY26_Performance\"><\/span><strong>5 Key Factors That Will Drive Himadri Speciality Chemical Q4 FY26 Performance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Worlds_Largest_Single-Location_Speciality_Carbon_Black_Facility\"><\/span><strong>World&#8217;s Largest Single-Location Speciality Carbon Black Facility<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 Mahistikry plant now produces 250,000 MTPA total carbon black, with 130,000 MTPA dedicated to Speciality Carbon Black (SCB). Himadri Speciality Chemical Q4 commissioning of the new 70,000 MTPA SCB line places Mahistikry as the world&#8217;s largest single-location SCB facility \u2014 enabling significant economies of scale and creating a global cost leadership position.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Battery_Materials_%E2%80%94_EV_Anode_Segment_Driving_Premium_Pricing\"><\/span><strong>Battery Materials \u2014 EV Anode Segment Driving Premium Pricing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 advanced battery materials strategy targets the lithium-ion battery anode market \u2014 where SCB-derived anode materials are used in EV cells. Himadri Speciality Chemical Q4 battery-grade carbon black commands significant premium pricing versus commodity black. As EV penetration in India and globally accelerates, Himadri Speciality Chemical Q4 advanced battery material revenues should scale proportionately.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"China_Guangzhou_Subsidiary_%E2%80%94_Direct_Access_to_Global_Battery_Market\"><\/span><strong>China Guangzhou Subsidiary \u2014 Direct Access to Global Battery Market<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 Guangzhou subsidiary approval is the company&#8217;s most ambitious international move. Himadri Speciality Chemical Q4 China subsidiary will allow direct supply to Chinese battery cell manufacturers \u2014 the world&#8217;s largest customers for battery-grade materials. Proximity to Chinese EV supply chains via the Guangzhou subsidiary should accelerate Himadri Speciality Chemical Q4 revenue ramp in battery materials.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Record_Full-Year_EBITDA_of_%E2%82%B91006_Crore\"><\/span><strong>Record Full-Year EBITDA of \u20b91,006 Crore<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 closes FY26 with full-year EBITDA of \u20b91,006 crore \u2014 the first time the company has exceeded \u20b91,000 crore in EBITDA. Himadri Speciality Chemical Q4 milestone EBITDA demonstrates that scale investments in SCB capacity are generating operating leverage. The \u20b91,006 crore FY26 EBITDA is a new baseline that positions Himadri Speciality Chemical Q4 for analyst re-rating.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Carbon_Materials_for_High-Value_Industrial_Applications\"><\/span><strong>Carbon Materials for High-Value Industrial Applications<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Beyond batteries, Himadri Speciality Chemical Q4 carbon materials serve high-value applications in inks, paints, coatings, plastics, tyres, and conductors \u2014 all areas where SCB&#8217;s reinforcing, colour, and electrical conductivity properties are critical. Himadri Speciality Chemical Q4 diversified application base provides revenue stability even if battery materials ramp is delayed.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Risks_to_Watch_in_Himadri_Speciality_Chemical_Q4_FY26\"><\/span><strong>5 Risks to Watch in Himadri Speciality Chemical Q4 FY26<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"EBIT_Margin_Compression_in_Q4\"><\/span><strong>EBIT Margin Compression in Q4<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 core EBIT margin of 18.77% was below Q4 FY25&#8217;s 20.56% and Q3 FY26&#8217;s 20.50%, indicating rising input costs and operational challenges. Himadri Speciality Chemical Q4 record revenue was achieved partly at the cost of margin. If input cost pressures persist in FY27, margin compression could weigh on PAT growth even with higher revenues.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"China_Subsidiary_%E2%80%94_Execution_and_Geopolitical_Risk\"><\/span><strong>China Subsidiary \u2014 Execution and Geopolitical Risk<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 Guangzhou subsidiary is a long-term opportunity but carries significant execution risk \u2014 regulatory approvals, local partnerships, talent acquisition, and working capital requirements in China add complexity. Himadri Speciality Chemical Q4 China operations will take 2\u20133 years to become meaningful contributors, while near-term costs will be a drag.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dependence_on_Other_Income_for_PAT_Beat\"><\/span><strong>Dependence on Other Income for PAT Beat<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 other income of \u20b962 crore (+359% YoY) partially explains the PAT beat. Himadri Speciality Chemical Q4 core operating PAT growth \u2014 stripping out other income \u2014 is more modest. Investors should track whether Himadri Speciality Chemical Q4 other income represents sustainable treasury income or one-time items.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Coal_Tar_Pitch_Raw_Material_Price_Volatility\"><\/span><strong>Coal Tar Pitch Raw Material Price Volatility<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 primary raw material is coal tar pitch \u2014 a by-product of metallurgical coke production. Coal tar pitch prices are volatile and influenced by global steel production rates, coke oven operating levels, and import competition. Himadri Speciality Chemical Q4 input cost volatility can cause significant quarter-to-quarter margin swings.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"High_Valuation_After_Stock_Re-rating\"><\/span><strong>High Valuation After Stock Re-rating<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 stock surged ~10% on the results day and has re-rated significantly over the past 2 years. Himadri Speciality Chemical Q4 premium multiple assumes sustained battery material revenue growth and China expansion success. Any execution delay in the China subsidiary or battery AUM ramp could trigger a valuation correction.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Himadri Speciality Chemical Q4 FY26 results are outstanding \u2014 29% PAT growth, record quarterly revenue of \u20b91,288 crore, first-ever \u20b91,000 crore EBITDA milestone, and the landmark Guangzhou subsidiary approval. Himadri Speciality Chemical Q4 positions the company as a global speciality carbon black and battery materials leader. The near-term margin compression and China execution risk are the watch items heading into FY27.<\/p><p>Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice. All financial data is sourced from publicly available NSE\/BSE filings and exchange announcements. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.<\/p><p>For more Q4 FY26 results analysis, visit <a href=\"https:\/\/univest.in\/blogs\">Univest Blogs<\/a>.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_was_Himadri_Speciality_Chemical_Q4_FY26_net_profit\"><\/span><strong>What was Himadri Speciality Chemical Q4 FY26 net profit?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 FY26 consolidated PAT was \u20b9200.79 crore, up 29% year-on-year from \u20b9155.58 crore in Q4 FY25. FY26 full-year PAT was \u20b9755 crore, up 36% YoY.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_was_Himadri_Speciality_Chemical_Q4_FY26_revenue\"><\/span><strong>What was Himadri Speciality Chemical Q4 FY26 revenue?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 FY26 revenue from operations was \u20b91,287.76 crore \u2014 the highest quarterly revenue in the company&#8217;s history \u2014 up 13.5% year-on-year.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_Himadri_Speciality_Chemical_China_expansion\"><\/span><strong>What is the Himadri Speciality Chemical China expansion?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 FY26 board approved the incorporation of a foreign wholly-owned step-down subsidiary in Guangzhou, China. This subsidiary targets direct access to Chinese battery manufacturers for supply of battery-grade speciality carbon black and advanced battery materials.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_was_Himadri_Speciality_Chemicals_FY26_EBITDA\"><\/span><strong>What was Himadri Speciality Chemical&#8217;s FY26 EBITDA?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical FY26 EBITDA reached \u20b91,006 crore \u2014 up 19% year-on-year and the first time the company crossed the \u20b91,000 crore EBITDA milestone.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_dividend_did_Himadri_Speciality_Chemical_declare_for_FY26\"><\/span><strong>What dividend did Himadri Speciality Chemical declare for FY26?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Himadri Speciality Chemical Q4 FY26 board declared a final dividend of \u20b90.80 per equity share of face value \u20b91 for FY26, subject to shareholder approval.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Himadri_Speciality_Chemicals_carbon_black_capacity\"><\/span><strong>What is Himadri Speciality Chemical&#8217;s carbon black capacity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>After Q4 FY26 commissioning, Himadri Speciality Chemical&#8217;s Mahistikry facility has total carbon black capacity of 250,000 MTPA, with 130,000 MTPA dedicated to Speciality Carbon Black \u2014 making it the world&#8217;s largest single-location SCB facility.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"When_did_TCS_declare_Q4_FY26_results\"><\/span><strong>When did TCS declare Q4 FY26 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>TCS Q4 FY26 results were declared on April 9, 2026. Full analysis is available on Univest Blogs. Read the TCS Q4 analysis at <a href=\"https:\/\/univest.in\/blogs\/tcs-q4-results-2026-date-preview\">Univest Blogs<\/a>.<\/p><p>Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice. All financial data is sourced from publicly available NSE\/BSE filings and exchange announcements. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_Article\"><\/span><strong>Recent Article<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><a href=\"https:\/\/univest.in\/blogs\/kridhan-infra-q4-results-2026\">Kridhan Infra Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/krebs-biochemicals-and-industries-q4-results-2026\">Krebs Biochemicals and Industries Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/krbl-q4-results-2026-2\">KRBL Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/kpit-technologies-q4-results-2026-2\">KPIT Technologies Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/kothari-sugars-and-chemicals-q4-results-2026\">Kothari Sugars and Chemicals Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Himadri Speciality Chemical Q4 FY26 results are out, delivering a strong close to a landmark year for the Kolkata-based speciality chemicals company. Himadri Speciality Chemical Q4 consolidated net profit jumped 29% year-on-year to \u20b9200.79 crore, compared to \u20b9155.58 crore in Q4 FY25. Himadri Speciality Chemical Q4 revenue from operations grew 13.5% YoY to \u20b91,287.76 crore<\/p>\n","protected":false},"author":23,"featured_media":77304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[4027],"class_list":["post-77287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-q4-fy26-results"],"metadata":{"_edit_lock":["1777033328:23"],"_last_editor_used_jetpack":["block-editor"],"rank_math_internal_links_processed":["1"],"rank_math_primary_category":["842"],"rank_math_seo_score":["70"],"rank_math_robots":["a:2:{i:0;s:8:\"nofollow\";i:1;s:7:\"noindex\";}"],"rank_math_title":["Himadri Speciality Chemical Q4 FY26 Results: PAT \u20b9201 Crore +29% YoY, China Expansion"],"rank_math_description":["Himadri Speciality Chemical Q4 FY26 results declared April 23, 2026. PAT \u20b9201 crore (+29% YoY), revenue \u20b91,288 crore (+13.5%). FY26 EBITDA \u20b91,006 crore record. China subsidiary approved. Full analysis on Univest."],"rank_math_focus_keyword":["Himadri Speciality Chemical Q4"],"_thumbnail_id":["77304"],"_edit_last":["23"],"_ez-toc-disabled":[""],"_ez-toc-insert":[""],"_ez-toc-header-label":[""],"_ez-toc-alignment":["none"],"_ez-toc-heading-levels":["a:0:{}"],"_ez-toc-alttext":[""],"_ez-toc-visibility_hide_by_default":[""],"_ez-toc-hide_counter":[""],"_ez-toc-exclude":[""],"_ez-toc-position-specific":["before"],"stm_select_gm_zoom":[""],"stm_agenda":[""],"stm_host":[""],"stm_select_approved_denied":[""],"stm_multiselect_approved":[""],"stm_multiselect_denied":[""],"stm_date":[""],"stm_time":[""],"stm_timezone":[""],"stm_duration":[""],"stm_password":[""],"stm_waiting_room":[""],"stm_join_before_host":[""],"stm_host_join_start":[""],"stm_start_after_participants":[""],"stm_mute_participants":[""],"stm_enforce_login":[""],"stm_alternative_hosts":[""],"top_bar_custom_style":[""],"top_bar_bg":[""],"wc_top_bar_cart_custom_style":[""],"wc_top_bar_cart_color":[""],"wc_top_bar_cart_icon_color_hover":[""],"wc_top_bar_cart_counter_color":[""],"wc_top_bar_cart_counter_color_hover":[""],"wc_top_bar_cart_counter_bg":[""],"wc_top_bar_cart_counter_bg_hover":[""],"top_bar_wpml_switcher_custom_style":[""],"wpml_switcher_color":[""],"top_bar_wpml_switcher_bg":[""],"top_bar_wpml_switcher_bg_hover":[""],"top_bar_wpml_switcher_color_hover":[""],"top_bar_socials_custom_style":[""],"top_bar_socials_color":[""],"top_bar_socials_color_hover":[""],"top_bar_search_custom_style":[""],"top_bar_search_color":[""],"top_bar_search_icon_color_hover":[""],"top_bar_contact_info_style":[""],"top_bar_contact_info_color":[""],"top_bar_contact_info_link_color":[""],"top_bar_contact_info_link_color_hover":[""],"top_bar_contact_info_select_bg":[""],"top_bar_contact_info_select_color":[""],"top_bar_contact_info_select_drop_bg":[""],"top_bar_contact_info_select_items_bg":[""],"top_bar_contact_info_select_items_color":[""],"top_bar_contact_info_select_items_hover":[""],"header_inverse":["default"],"enable_header_transparent":["off"],"header_nav_custom_style":[""],"header_bg":[""],"header_shadow":[""],"wc_cart_custom_style":[""],"wc_cart_icon_color":[""],"wc_cart_icon_color_hover":[""],"wc_cart_counter_color":[""],"wc_cart_counter_color_hover":[""],"wc_cart_counter_bg":[""],"wc_cart_counter_bg_hover":[""],"header_wpml_switcher_custom_style":[""],"header_wpml_switcher_color":[""],"header_wpml_switcher_color_hover":[""],"header_wpml_switcher_bg":[""],"header_wpml_switcher_bg_hover":[""],"header_socials_custom_style":[""],"header_socials_color":[""],"header_socials_color_hover":[""],"header_search_custom_style":[""],"header_search_icon_color":[""],"header_search_icon_color_hover":[""],"header_contact_info_style":[""],"header_contact_info_color":[""],"header_contact_info_link_color":[""],"header_contact_info_link_color_hover":[""],"header_button_custom_style":[""],"header_button_color":[""],"header_button_color_hover":[""],"header_button_bg":[""],"header_button_bg_hover":[""],"header_nav_menu_customize":[""],"header_nav_menu_link_color":[""],"header_nav_menu_link_color_hover":[""],"header_nav_menu_link_color_active":[""],"header_nav_menu_link_arrow_color":[""],"header_nav_menu_link_arrow_color_hover":[""],"header_nav_menu_level_1_bg":[""],"header_nav_menu_level_1_link_color":[""],"header_nav_menu_level_1_link_color_hover":[""],"header_nav_menu_level_1_link_bg_hover":[""],"header_nav_menu_level_1_link_arrow_color":[""],"header_nav_menu_level_1_link_arrow_color_hover":[""],"header_nav_menu_level_2_bg":[""],"header_nav_menu_level_2_link_color":[""],"header_nav_menu_level_2_link_color_hover":[""],"header_nav_menu_level_2_link_bg_hover":[""],"header_mega_menu_bg":[""],"header_mega_menu_title_color":[""],"header_mega_menu_title_color_hover":[""],"header_mega_menu_description_color":[""],"header_mega_menu_description_link_color":[""],"header_mega_menu_description_link_color_hover":[""],"header_mega_menu_color":[""],"header_mega_menu_color_hover":[""],"header_mega_menu_border_color":[""],"header_mega_menu_icons_color":[""],"header_nav_menu_customize_end":[""],"hfe_enabled_notice":[""],"disable_title_box":["default"],"hfe_disabled":[""],"enable_transparent":["default"],"title_box_title_bg_color":[""],"title_box_bg_custom_image":["default"],"title_box_bg_image":[""],"title_box_bg_position":["default"],"metabox_title_box_bg_position_x":[""],"metabox_title_box_bg_position_y":[""],"metabox_title_box_bg_attachment":["default"],"title_box_bg_size":["default"],"metabox_title_box_bg_size_slider":[""],"title_box_bg_repeat":["default"],"disable_title":["default"],"title_box_title_color":[""],"title_box_title_line_color":[""],"disable_breadcrumbs":["default"],"metabox_title_box_breadcrumbs_color":[""],"metabox_title_box_links_color":[""],"metabox_title_box_links_color_hover":[""],"content_bg_transparent":[""],"show_popup_single":[""],"popups_single":[""],"popups_single_event":[""],"popup_single_event_open_delay":[""],"popup_single_event_showing_in":[""],"popup_single_event_date_from":[""],"popup_single_event_date_to":[""],"popup_single_event_time_from":[""],"popup_single_event_time_to":[""],"popup_single_animation":[""],"popup_single_responsive":[""],"separator_footer_copyright_border_t":[""],"name":[""],"email":[""],"phone":[""],"company":[""],"memberId":[""],"testimonial_position":[""],"testimonial_company":[""],"testimonial_bg_img":[""],"testimonial_video_url":[""],"popups_width":[""],"popups_height":[""],"popups_image_bg":[""],"popups_color_bg":[""],"popups_border_radius":[""],"popups_template":[""],"rank_math_analytic_object_id":["9154"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/04\/24174816\/HImadari.jpg","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/77287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=77287"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/77287\/revisions"}],"predecessor-version":[{"id":77309,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/77287\/revisions\/77309"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/77304"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=77287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=77287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=77287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}