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Himadri Speciality Chemical Ltd. (IN:HSCL)
:HSCL
India Market
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Himadri Speciality Chemical Ltd. (HSCL) AI Stock Analysis

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IN:HSCL

Himadri Speciality Chemical Ltd.

(HSCL)

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Neutral 62 (OpenAI - 4o)
Rating:62Neutral
Price Target:
₹490.00
▲(8.23% Upside)
Himadri Speciality Chemical Ltd. has a strong financial performance with impressive growth and profitability metrics, which is the most significant factor in its overall score. However, technical analysis indicates bearish momentum, and the valuation suggests the stock may be overvalued, which negatively impacts the overall score.

Himadri Speciality Chemical Ltd. (HSCL) vs. iShares MSCI India ETF (INDA)

Himadri Speciality Chemical Ltd. Business Overview & Revenue Model

Company DescriptionHimadri Speciality Chemical Limited manufactures and sells carbon materials and chemicals in India and internationally. The company offers coal tar pitches, including aluminum and graphite grade binder grade pitches, impregnated coal tar pitches, mesophase pitches, refractory pitch grades, ultramarine blue pitches, and pitch creosote mixture dehydrated coal tar, as well as pitches for industrial crucible and blocks; and carbon materials, such as coke granules and powder, and synthetic and natural graphite powder for power battery application. It also provides carbon black; refined naphthalene for dyes and intermediates, and moth balls; and sulphonated naphthalene formaldehyde and polycarboxylate ether for concrete, agro, rubber, and gypsum board manufacturing. In addition, the company offers anti-corrosion products for chemical factories, vessels, water treatment plants, breweries, milk chilling plants, etc. Further, it provides specialty oils comprising light creosote, wash/gas scrubbing, phenyl grade, wood preservative/creosote, anthracene, carbon black, and fuel oils, as well as coal flow and bulk density enhancers, BTX products, and industrial solvents. Additionally, the company generates power from fuel gas. Its products are used in lithium-ion batteries, aluminum, graphite, infrastructure/construction, tires, mechanical rubber goods, plastics, dyes and intermediaries, and other applications. The company was formerly known as Himadri Chemicals & Industries Limited and changed its name to Himadri Speciality Chemical Limited in July 2016. Himadri Speciality Chemical Limited was incorporated in 1987 and is headquartered in Kolkata, India.
How the Company Makes MoneyHSCL generates revenue through the manufacturing and sale of its diverse range of chemical products. The company's primary revenue streams include the sale of coal tar pitch used in aluminum and graphite electrode industries, and carbon black, which is a crucial component in tire manufacturing. Additionally, HSCL produces advanced carbon materials and naphthalene derivatives, catering to industries like lithium-ion batteries and construction. The company's strategic partnerships and long-term contracts with major industrial players, along with its focus on innovation and expanding its product applications, significantly contribute to its earnings.

Himadri Speciality Chemical Ltd. Financial Statement Overview

Summary
Himadri Speciality Chemical Ltd. showcases a strong financial position with impressive growth and profitability metrics. The company has demonstrated resilience and effective management with improving revenue, profit margins, and cash flows. The balance sheet reflects financial stability with a robust equity base and decreased leverage. Despite challenges in investing activities, the overall financial health is solid, positioning the company well for future growth and stability in the specialty chemicals industry.
Income Statement
87
Very Positive
Himadri Speciality Chemical Ltd. has demonstrated strong revenue growth, increasing from ₹41,848.9 million in 2024 to ₹46,126.3 million in 2025, marking a growth rate of 10.87%. The gross profit margin also improved significantly, reflecting efficient production and pricing strategies. The net profit margin increased to 12.04% in 2025 from 9.81% in 2024, indicating enhanced profitability. EBIT and EBITDA margins have shown an upward trajectory, suggesting better operational efficiency. Overall, the income statement reflects a robust financial performance with notable improvements in profitability and growth metrics.
Balance Sheet
78
Positive
The company has a strong equity foundation, with stockholders' equity increasing from ₹30,455.75 million in 2024 to ₹37,217.4 million in 2025. The debt-to-equity ratio has improved, indicating reduced financial leverage and enhanced financial stability. The equity ratio stands at 79.92% in 2025, reflecting a solid balance sheet with low reliance on debt financing. Return on equity (ROE) has improved to 14.92%, showcasing efficient use of equity. Despite these strengths, the total liabilities remain a concern, although they have decreased over the past year.
Cash Flow
82
Very Positive
Operating cash flow increased from ₹4,047.589 million in 2024 to ₹4,468.7 million in 2025, showing strong cash generation capabilities. The free cash flow grew from ₹3,520 million to ₹2,760.2 million, reflecting effective capital management despite a slight decrease. The operating cash flow to net income ratio indicates a healthy cash conversion from profits. However, investing cash flows remain negative, signaling caution in capital expenditure. Overall, the company demonstrates solid cash flow management, supporting its operational and strategic initiatives.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue46.13B46.13B41.85B41.72B27.91B16.79B
Gross Profit14.21B14.66B11.17B9.17B5.36B4.40B
EBITDA8.88B9.08B6.84B3.84B1.32B1.44B
Net Income5.56B5.56B4.11B2.16B409.46M474.78M
Balance Sheet
Total Assets46.56B46.56B44.49B36.78B34.54B27.91B
Cash, Cash Equivalents and Short-Term Investments7.00B7.00B2.16B6.25B2.63B1.28B
Total Debt3.13B3.13B6.05B8.42B5.87B7.29B
Total Liabilities8.85B8.85B14.06B14.00B15.89B9.99B
Stockholders Equity37.22B37.22B30.46B22.80B18.68B17.93B
Cash Flow
Free Cash Flow0.002.76B3.52B-291.80M3.08B-755.51M
Operating Cash Flow0.004.47B4.05B539.70M3.31B-404.09M
Investing Cash Flow0.00-2.35B-4.05B-3.97B-282.26M-1.14B
Financing Cash Flow0.00-2.71B71.90M3.77B-1.82B1.65B

Himadri Speciality Chemical Ltd. Technical Analysis

Technical Analysis Sentiment
Negative
Last Price452.75
Price Trends
50DMA
470.90
Negative
100DMA
472.84
Negative
200DMA
477.19
Negative
Market Momentum
MACD
-2.29
Positive
RSI
43.59
Neutral
STOCH
35.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HSCL, the sentiment is Negative. The current price of 452.75 is below the 20-day moving average (MA) of 461.54, below the 50-day MA of 470.90, and below the 200-day MA of 477.19, indicating a bearish trend. The MACD of -2.29 indicates Positive momentum. The RSI at 43.59 is Neutral, neither overbought nor oversold. The STOCH value of 35.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HSCL.

Himadri Speciality Chemical Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
66
Neutral
178.17B42.0814.51%0.44%14.93%21.24%
65
Neutral
92.18B43.4716.95%0.21%21.50%78.82%
63
Neutral
195.65B50.2613.18%0.44%5.63%-41.01%
63
Neutral
177.77B36.668.64%0.42%17.95%50.93%
62
Neutral
135.92B58.165.91%0.27%4.09%-51.04%
62
Neutral
₹223.59B37.120.13%2.17%28.95%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:HSCL
Himadri Speciality Chemical Ltd.
452.75
-209.16
-31.60%
IN:AARTIIND
AARTI Industries Ltd
374.85
-206.60
-35.53%
IN:ATUL
Atul Limited
6,038.05
-1,627.94
-21.24%
IN:BASF
BASF India Limited
4,519.90
-2,835.20
-38.55%
IN:PRIVISCL
Privi Speciality Chemicals Limited
2,359.85
896.12
61.22%
IN:VINATIORGA
Vinati Organics Limited
1,726.35
-346.71
-16.72%

Himadri Speciality Chemical Ltd. Corporate Events

Himadri Speciality Chemical Ltd. Receives Positive Credit Ratings from ICRA
Sep 10, 2025

Himadri Speciality Chemical Ltd. announced that ICRA Limited has assigned credit ratings to its various credit facilities and instruments. The ratings include [ICRA]AA- (Positive) and [ICRA]A1+ for its working capital and commercial paper facilities, indicating a positive outlook and reaffirming the company’s strong credit position.

Himadri Speciality Chemical Sees Trading Volume Surge
Sep 10, 2025

Himadri Speciality Chemical Limited has experienced a significant increase in trading volume, prompting the Exchange to seek further information to ensure investor interests are protected. The company has responded to the Exchange’s inquiry, aiming to maintain transparency and provide the market with relevant updates.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Sep 26, 2025