No: HSCL / Stock-Ex/2025-26/53

Date: 15/07/2025
E-mail: [email protected]
Ref: Listing Code: 500184 Ref: Listing Code: HSCL
BSE Limited National Stock Exchange of India Ltd
Department of Corporate Services Exchange Plaza, C-1, Block-G
P. J. Towers, 25th Floor, Bandra Kurla Complex,
Dalal Street, Bandra (E)
Mumbai- 400 001 Mumbai- 400 051

Sub: Outcome of Board Meeting held on 15 July 2025 - pursuant to Regulation 30 of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/ Madam,

We refer to our letter dated 08 July 2025 intimating about the meeting of the Board of Directors ("Board")
of Himadri Speciality Chemical Ltd (“Company’) scheduled to be held on 15 July 2025, inter-alia to
approve and take on record the Unaudited Financial Results (Standalone and Consolidated) for the
quarter ended 30 June 2025.

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015 (“SEBI Listing Regulations”), we would like to inform you that the Board of the Company at its’
meeting held today i.e. on 15 July 2025, inter-alia has considered and approved the Un-audited
Financial Results (Standalone & Consolidated) for the quarter ended 30 June 2025. We are enclosing
herewith the following pursuant to Regulation 30 and Regulation 33 read with the applicable provisions
of Schedule III and IV of the SEBI Listing Regulations:

i) Un-audited Financial Results (Standalone and Consolidated) for the quarter ended 30 June
2025.
ii) The Limited Review Report of the Statutory Auditors of the Company, M/s Singhi & Co,
Chartered Accountants on the Un-audited Financial Results (Standalone & Consolidated)
quarter ended 30 June 2025.
The Meeting of the Board of Directors commenced at 12:00 p.m. (IST) and concluded at 2:05 p.m.
(IST)

The above information will be made available on the Company’s website at www.himadri.com.

We request you to kindly take on record the same.

Thanking you,
Yours faithfully,
For Himadri Speciality Chemical Ltd
Monika Digitally signed by
Monika Saraswat

Saraswat Date: 2025.07.15

14:06:06 +05'30'

(Company Secretary &

Compliance Officer)
ACS: 29322
 161, Sarat Bose Road

Singhi c< Co. Kolkata-700 026, (India)

T +91(0)33-2419 6000/01/02
E kolkata©singhico.com
Chartered Accountants www.singhico.com

Independent Auditor's Review Report on Unaudited Standalone Financial Results of Himadri Speciality Chemical Limited for
the quarter ended June 30, 2025 pursuant to Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements)
Regulations, 2015, as amended.

To,
The Board of Directors
Himadri Speciality Chemical Limited

1) We have reviewed the accompanying statement of unaudited standalone financial results together with notes thereon
("the statement) of Himadri Speciality Chemical Limited ("the Company") for the quarter ended June 30, 2025. The
statement is being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, as amended, ("The Regulation") and has been initialled by
us for identification purpose.

2) This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors in their
meeting held on July 15, 2025 has been prepared in accordance with the recognition and measurement principles laid
down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of
the Companies Act, 2013 as amended read with relevant rules issued there under and other accounting principles
generally accepted in India. Our responsibility is to issue a report on these financial results based on our review.

3) We conducted our review of the statement in accordance with the Standard on Review Engagement (SRE) 2410 "Review
of Interim Financial Information Performed by the Independent Auditor of the Entity," specified under Section 143 (10) of
the Companies Act, 2013. This standard requires that we plan and perform the review to obtain moderate assurance as
to whether the Statement is free of material misstatement. A review of interim financial information consists of making
inquiries primarily of persons responsible for financial and accounting matters and applying analytical and other review
procedures. A review is substantially less in scope than an audit conducted in accordance with the standards on auditing
and consequently does not enable us to obtain assurance that we would be aware of all significant matters that might be
identified in an audit. Accordingly, we do not express an audit opinion.

4) Based on our review conducted as above, nothing has come to our attention that causes us to believe that the
accompanying statement prepared in accordance with the applicable Indian Accounting Standards as prescribed under
Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under and other recognized
accounting practices and policies, has not disclosed the information required to be disclosed in terms of Regulation 33 of
the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be
disclosed, or that it contains any material misstatement.

For Singhi & Co.

Chartered Accountants
Firm Registration No.302049E

(Navindra Kumar Surana)

Partner
Membership No. 053816
UDIN: 25053816BMLMAM1521

Place: Kolkata
Date: July 15, 2025

Offices: Kolkata, Mumbai, Deihl NCR, Chennal, Bangalore, Ahmedabad S Ralpur

Network Locations: Hyderabad, Nagpur
 Himadri
HIMADRI SPECIALITY CHEMICAL LIMITED
Registered Office: 23A Netaji Subhas Road
8th Floor, Suite No. 15, Kolkata - 700 001
Corporate Identity Number: L27106WB1987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email: [email protected], Website: www.himadri.com

Rs. in Crures
Statement of Unaudited Standalone Financial Results for the Quarter Ended 30 June 2025
Sr. Particulars Three months Previous Three Corresponding Three Previous year
No. ended 30.06.2025 months ended months ended ended 31.03.2025
31.03.2025 30.06.2024 in the
previous year

(Unaudited) (Audited) (Unudited) (Audited)

1. Income
(a) Revenue from Operations 1,100.42 1,129.01 1,199.77 4,595.80
(b) Other Income 27.60 13.37 12.55 50.90
Total Income 1.128.02 1.142.38 1.21232 4,646.70

2. Expenses
(a) Cost of materials consumed 724.82 712,48 830.27 3,156.99
(b) Changes in inventories of finished goods and work-in-progress (20.77) 32.07 21.05 (5.01)
(c) Employee benefits expense 33.73 30.30 29.74 124 37
(d) Finance costs 14.37 8.71 12,90 44.57
(e) Depreciation and amortisation expense 12.90 12.26 12.37 49.62
(f) Other expenses 118.87 119 68 126.75 468 43
Total Expenses 883.92 915.50 1,033.08 3,838 97

3. Profit/ (Loss) before exceptional items and tax (1-2) 244.10 226.88 179.24 807.73

4. Exceptional Items - -

5. Profit/ (Loss) before tax (3+4) 244.10 226.88 179.24 807 73

6. Tax expense
(a) Current tax 60.39 39 49 31 31 140 95
(b) Deferred tax 1.14 28.24 24 48 107 80
(c) Income tax related to earlier years - 0 92 0.92
Total tax expense 61.53 68.65 55.79 249.67

7. Net Profit/ (Loss) after tax (5-6) 182.57 158 23 123 45 558 06

8. Other Comprehensive Income

Items that will not be reclassified subsequently to profit or loss 1.42 (3 25) 1 42 1 64
Income-tax relating to items that will not be reclassified to profit or loss 0.14 0 56 (0 16) 13 67
Items that will be reclassified subsequently to profit or loss . 4
Income-tax relating to items that will be reclassified to profit or loss - -
Total Other Comprehensive Income (net of tax) 1.56 (2.69) 1.26 15 31

9. Total Comprehensive Income (7+8) 184.13 155_54 124.71 573 37

10. Paid-up equity share capital 49.38 49.38 49 35 49 38

(Face value Re. 1 each)

11. Other Equity 3,598 15

12. Earnings per equity share (of Re. 1 each) (refer note 8)
(a) Basic (Rs.) 3.70 3.21 2 50 11.31
(b) Diluted (Rs.) 3.67 3,18 2.50 11.22
 0 _41
r ,.,

Himadri
HIMADRI SPECIALITY CHEMICAL LIMITED
Registered Office: 23A Netaji Subhas Road
8th Floor, Suite No, 15, Kolkata - 700 001
Corporate Identity Number: L27106WB1987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email: [email protected], Website: www.himadri_com

Rs. in Ccores
Standalone Segment wise Revenue, Results, Assets and Liabilities
Sr. Particulars Three months Previous Three Corresponding Three Previous year
No. ended 30.06.2025 months ended months ended ended 31.03.2025
31.03.2025 30.062024 in the
previous year
(Unaudited) (Audited) (Unudited) (Audited)
1. Segment Revenue
(a) Carbon materials and chemicals 1,094.98 1,122.94 1,193.70 4,572 11
(b) Power 25.54 24.98 25.85 104 73

Total segment revenue (a + b) 1,120.52 1,147.92 1,219.55 4,676 84

Less: Inter segment revenue 20.10 18.91 19.78 81 04
Total Revenue from Operations 1.100.42 1.129,01 1,199.77 4,595 80

2. Segment Results
(a) Carbon materials and chemicals 198.93 198,09 152.15 701,00
(b) Power 22.14 21.86 23.13 92.93

Total segment profit before interest, tax and unallocable items (a + b) 221.07 219.95 175.28 793.93
Add/ (Less):
(a) Finance costs (14.37) (8.71) (12.90) (44,57)
(b) Other unallocable expenses net of unallocable income * 37.40 15.64 16.86 58,37
Total Profit/ (Loss) before tax 244.10 226 88 179 24 807.73

3. Segment Assets
(a) Carbon materials and chemicals 3,444.34 3,066 90 3,034.77 3,066.90
(b) Power 102.90 103 54 105.27 103.54
(c) Unallocated 1,597.21 1.351 72 1,131.01 1.351.72
Total assets 5,144.45 4,522.16 4,271.05 4,522 16

4. Segment Liabilities
(a) Carbon materials and chemicals 257.77 284.19 369.97 284.19
(b) Power 0.50 0,61 0.41 0.61
(c) Unallocated 1,083.21 589.83 707.08 589.83
Total liabilities 1,341.48 874.63 1.077.46 874.63
* includes other income and foreign exchange loss/ (gain) (net), fully unallocable
 Himadrl
HIMADRI SPECIALITY CHEMICAL LIMITED
Registered Office: 23A Netap Subhas Road
8th Floor, Suite No 15, Kolkata - 700 001
Corporate Identity Number- L27106WB1987PLC042756
Phone: (033)2230-9953, Fax. (033)2230-9051
Email info@himadri,com, Website: www himadn com
NOTES:-
(1) Additional information pursuant to Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations. 2015, as amended for
Unaudited Standalone Financial Results as at and for the Quarter Ended on 30 June 2025:

Sr. No. Particulars Three months Previous Three Corresponding Three Previous year
ended 30.06.2025 months ended months ended ended
31,03.2025 30 06 2024 in the 31 03 2025
previous year

(Unaudited) (Audited) (Unaudited) (Audited)

(a) Debt-Equity Ratio (in times) 0.21 0 09 0 15 0 09

Total Debt / Shareholder's Equity
Total Debt Non-current borrowings+Current borrowings+ Non-current and current lease liabilities

Shareholder's Equity Equity share capital -I- Other equity

(b) Debt Service Coverage Ratio (in times) 13.42 5 69 8 76 8 61

Earning for Debt Service (i e Net Profit after taxes + Non-cash operating expenses like depreciation and other
amortizations + Interest + other adjustments like loss on sale of fixed assets+Loss allowances for doubtful trade
receivables and advances+Gain/Loss on fair value of current/non current investments+Unrealised foreign
exchange fluctuations etc ) / Debt service ( i e Interest & Lease Payments + Principal Repayments excluding
Prepayments of non-current borrowings)

(c) Interest Service Coverage Ratio (in times) 18.88 28.44 15 85 20 24

Earning Before Interest, Tax, Depreciation and Amortisation expenses (EB1TDA) / Interest expense

(d) Current Ratio (in times) 2.25 3 56 2 43 3 56

Current assets / Current liabilities
(e) Long Term Debt to Working Capital Ratio (in times) 0.00 0 00 0 03 0 00

(Non current borrowings 1 Non current lease liabilities i Current maturity of non-current borrowings) / (Current
assets- Current liabilities)

(f) Bad Debts to Account Receivable Ratio (in times)• 0.00 0 00 0 00 0 00

Bad debts / Average trade receivables

(g) Current Liability Ratio (in times) 0.79 0 68 0 79 0 68

Current liabilities / Total liabilities

(h) Total Debts to Total Assets Ratio (in times) 0.15 0 07 0 12 0 07

(Non-current borrowings+Current borrowings+ Non-current and Current lease liabilities) / Total assets

(i) Debtors Turnover (in times) . 1.67 1 78 1 74 7 05

Revenue from operations / Average trade receivables

(j) Inventory Turnover (in times) . 1.07 1 14 130 4 88

Cost of goods sold / Average inventory

(k) Operating Margin (%) 21.26% 20 57% 15 64% 18 35%

Profit before tax and extraordinary items + Depreciation and amortisations + Finance costs - Other income +
Exchange loss /(Gains) / Revenue from operations

(I) Net Profit Margin (%) 16.59% 14 02% 10 29% 12 14%

Net profit after tax / Revenue from operations

(m) Outstanding Redeemable Preference Shares (Quantity) Nil Nil Nil Nil

(n) Outstanding Redeemable Preference Shares (Value) Nil Nil Nil Nil

(o) Capital Redemption Reserve (Rs. in Crores) Nil Nil Nil Nil

(p) Debenture Redemption Reserve (Rs. in Crores) Nil Nil Nil Nil

(q) Net Worth (Rs. in Crores) 3802.97 3647 53 3193 59 3647 53

Equity share capital + Other equity

(r) Net Profit After Tax (Rs. in Crores) 182.57 158.23 123.45 558 06

(s) Earnings Per Share (Face Value of Re. 1 each) .

Basic 3.70 3 21 2 50 11 31
Diluted 3.67 3 18 2 50 11 22
a not annualised fir the interim periods

1 The Company has issued 2,000 units of Commercial Paper of face value of Rs. 5,00,000/- each aggregating to Rs 100 Crores at a discount rate of 6 75% p a, due for redemption on 28 August 2025
The credit rating assigned for the Commercial Paper by ICRA is Al+

2.The Company has issued 4,000 units of Commercial Paper of face value of Rs 5,00,000/- each aggregating to Rs 200 Crores at a discount rate of 6 30% p a, due for redemption on 25 September
2025 The credit rating assigned for the Commercial Paper by ICRA is AI+
 Yt
Himadri
HIMADRI SPECIALITY CHEMICAL LIMITED
Registered Office: 23A Netaji Subhas Road
8th Floor, Suite No. 15, Kolkata - 700 001
Corporate Identity Number: L27106WB1987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email. Inti.)Phimadri.com, Website: www.himadri.com

(2) The above unaudited standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on
15 July 2025. A Limited Review of these standalone financial results for the quarter ended 30 June 2025 has been carried out by the Statutory Auditors, as required under
Regulation 33 of SEBI (LODR) Regulations, 2015.

(3) Other expenses includes foreign exchange fluctuation loss/ (gain) (net) of Rs (9.80) crores for the quarter ended 30 June 2025, Rs (2.27) crores for the quarter ended 31
March 2025, Rs (4.31) crores for the quarter ended 30 June 2024 and Rs (7.47) crores for the year ended 31 March 2025.
Finance cost includes exchange difference regarded as an adjustment to borrowing costs in accordance with Ind AS 23, of Re Nil for the quarter ended 30 June 2025, of
Re 0.23 crore for the quarter ended 3I March 2025, Re Nil for the quarter ended 30 June 2024 and Rs 2,10 crores for the year ended 31 March 2025.

(4) Based on the guiding principles given in Ind AS 108 on 'Operating Segments', the Company's business activity falls within two operating segments, namely:
(a) Carbon materials and chemicals, and
(b) Power

(5) The standalone figures for the three months ended 31 March 2025 as reported in these standalone financial results are the balancing figures between audited figures in
respect of the full financial year and the published year to date standalone figures up to the end of the nine months of the relevant financial year, Also the standalone
figures up to the third quarter had only been reviewed and not subjected to audit.

(6) Effective 01 April 2025 the Company has migrated to the Lower Tax Regime as prescribed under section 1 I5BAA of the Income Tax Act 1961, introduced by the
Taxation Laws (Amendment) Act, 2019. The Company had during the previous year, re-assessed the carrying value of deferred tax assets/ Liability and took a reversal of
deferred tax liability of Rs 3.01 Crores during the quarter and year ended 31 March 2025 on account of deferred tax to be reversed during lower tax regime. The Company
had also charged to deferred tax liability, unutilised MAT of Rs 3.57 Crores during the quarter and year ended 31 March 2025 as the same is not eligible to be set off
during lower tax Regime.

(7) During the quarter ended 30 June 2025, the Company has issued commercial papers which were listed on the BSE pursuant to SEBI Master Circular No
SEBIIHOIDDHS/PoDUP/C1R/2024154 dated 22 May 2024

(8) Eamings per share is not annualised for the quarter ended 30 June 2025, 31 March 2025 and 30 June 2024.

On behalf of the Board of Directors

- KC)I_KATA
Anurag Choudhary

Place: Kolkata Chairman

G
Date: 15 July 2025 DIN: 00 173934
 161, Sarat Bose Road

Sing& Co. Kolkata-700 026, (India)

T +91(0)33-2419 6000/01/02
E kolkata©singhico.com
Chartered Accountants www.singhico.com

Independent Auditor's Review Report on Unaudited Consolidated Financial Results of Himadri Speciality Chemical Limited for
the quarter ended June 30, 2025 pursuant to Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements)
Regulations, 2015, as amended.

To,
The Board of Directors
Himadri Speciality Chemical Limited

1. We have reviewed the accompanying unaudited statement of consolidated financial results of Himadri Speciality Chemical
Limited (hereinafter referred to as the "Parent Company") and its subsidiaries (the Parent Company and its subsidiaries
together referred to as the "Group") for the quarter ended June 30, 2025 together with notes thereon (herein after referred
to as 'the statement'), being submitted by the Parent Company pursuant to the requirement of Regulation 33 of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 as amended ("the Regulation") and has been initialed by us for
identification purpose.

2. This statement, which is the responsibility of the Parent Company's Management and approved by the Parent Company's
Board of Directors, in their meeting held on July 15, 2025, has been prepared in accordance with the recognition and
measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"),
prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting
principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

3. We conducted our review of the statement in accordance with the Standard on Review Engagement (SRE) 2410 "Review of
Interim Financial Information Performed by the Independent Auditor of the Entity," specified under Section 143 (10) of the
Companies Act, 2013. This standard requires that we plan and perform the review to obtain moderate assurance as to
whether the statement is free from material misstatement. A review of interim financial information consists of making
enquiries primarily of persons responsible for financial and accounting matters and applying analytical and other review
procedures. A review is substantially less in scope than an audit conducted in accordance with the standards on auditing and
consequently does not enable us to obtain assurance that we would be aware of all significant matters that might be
identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

4. The statement includes the financial results of the following entities:

a) Himadri Speciality Chemical Limited (Parent Company)
b) AAT Global Limited (AAT) (wholly owned subsidiary)
c) Shandong Dawn Himadri Chemical Industry Limited (SDHCIL) (subsidiary of AAT)
d) Combe Projects Private Limited (CPPL) (wholly owned subsidiary)
e) Himadri Clean Energy Limited (HCEL) (wholly owned subsidiary)
f) Himadri Future Material Technology Limited (HFMTL) (wholly owned subsidiary of HCEL)
g) Himadri Green Technologies Innovation Limited (HGTIL) (wholly owned subsidiary of HCEL)
h) Invati Creations Private Limited (ICPL) (subsidiary)
I) Himadri Specilaity Inc.,(HSI) (wholly owned subsidiary)
j) Birla Tyres Limited (BTL) (subsidiary w.e.f. April 01, 2025 and wholly owned subsidiary w.e.f. April 07, 2025)
k) Himadri Birla Tyre Manufacturer Private Limited (HBTMPL) (subsidiary w.e.f. April 01, 2025)
I) Elixir Carbo Private Limited (ECPL) (wholly owned subsidiary w.e.f. April 22, 2025)
m) Transmarine and Confreight Logistics Private Limited (TCLPL) (subsidiary w.e.f. April 04, 2025)
n) Sturdy Niketan Private Limited (SNPL) (subsidiary of TCLPL w.e.f. April 04, 2025)

5. Based on our review conducted and procedure performed as stated in para 3 above, nothing has come to our attention that
causes us to believe that the accompanying statement prepared in accordance with the applicable Indian Accounting
Standards as prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued there under and other
recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of
Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the
manner in which it is to be disclosed, or that it contains any material misstatement.

Offices: Kolkata, Mumbai, Delhi NCR, Chennai, Bangalore, Ahmedabad & Raipur
Network Locations Hyderabad, Nagpur
Sing hi Co.
Chartered Accountants contd.

6. a) We did not review the interim financial information / financial results of 2 (two) foreign subsidiaries (including one step
down subsidiary) included in the Statement, whose consolidated financial information /financial results before consolidation
adjustments reflect total revenue of Rs. 266.31 crores, total net profit/(loss) after tax of Rs. 0.09 crores and total
comprehensive income/(loss) of Rs. 0.09 crores (comprising profit and other comprehensive income) as considered in the
statement for the quarter ended June 30, 2025 respectively. These subsidiaries are located outside India whose interim
financial information / financial results have been prepared in accordance with accounting principles generally accepted in
their respective countries and which have been reviewed by other auditors under generally accepted auditing standards
applicable in their respective countries. The Parent's management has converted the interim financial information of such
subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting
principles generally accepted in India. We have reviewed these conversion adjustments made by the Parent's management.
Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the above
subsidiaries, is based solely on the reports of the other auditors and the conversion adjustments prepared by the
management of the Parent and reviewed by us and the procedures performed by us as stated in paragraph 3 above.

b) We did not review the interim financial information / financial results of 2 (two) domestic subsidiaries (including one step
down subsidiary) included in the Statement, whose financial information / financial results before consolidation adjustments
reflect total revenue of Rs. 4.57 crores, total net profit after tax of Rs. (-)3.18 crores and total comprehensive income of Rs.
(-)3.18 crores (comprising loss and other comprehensive income) as considered in the statement for the period from April
04, 2025 to June 30, 2025. These interim financial information / financial results have been reviewed by other auditor whose
report have been furnished to us by the Parent Company's Management. Our conclusion on the Statement, in so far as it
relates to the amounts and disclosures included in respect of the above subsidiary, is based solely on the report of the other
auditor and the procedures performed by us as stated in paragraph 3 above.
c) We did not review the interim financial information / financial results of 1 (one) foreign subsidiary included in the
Statement, whose financial information / financial results before consolidation adjustments reflect total revenue of Rs. Nil,
total net profit/(loss) after tax of Rs. (-)0.09 crores and total comprehensive income/(loss) of Rs. (-)0.09 crores (comprising
loss and other comprehensive income) as considered in the statement for the quarter ended June 30, 2025 respectively. This
subsidiary is located outside India whose interim financial information / financial results have been certified by the
management of the subsidiary company in accordance with accounting principles generally accepted in their country and has
not been subjected to review by their auditor. The Parent's management has converted the interim financial information of
such subsidiary located outside India from accounting principles generally accepted in their country to accounting principles
generally accepted in India. We have reviewed these conversion adjustments made by the Parent's management. Our
conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the above subsidiary,
is based solely on the financial statement certified by the management of the foreign entity and the conversion adjustments
prepared by the management of the Parent and reviewed by us. According to the information and explanations given to us
by the management of the parent company, these interim financial results / information are not material to the Group.

d) The unaudited consolidated financial results include the interim financial information of 7 domestic subsidiaries (including
2 step down subsidiaries) which have not been reviewed by their auditors, whose interim financial information reflect total
revenue of Rs. 13.97 crores, total net profit/(loss) after tax of Rs. (-) 1.97 crores and total comprehensive income/(loss) of Rs.
(-) 1.97 crores (comprising loss and other comprehensive income) for the quarter ended June 30, 2025, as considered in the
Statement. The unaudited consolidated financial results also include the interim financial information of 1 domestic
subsidiary which has not been reviewed by their auditors, whose interim financial information reflect total revenue of Rs.
0.99 crores, total net profit/(loss) after tax of Rs. (-)0.60 crores and total comprehensive income/(loss) of Rs. (-)0.60 crores
(comprising loss and other comprehensive income) for the period from April 22, 2025 to June 30, 2025, as considered in the
Statement. These financial information have been certified by the management of the respective entities. According to the
information and explanations given to us by the management of the parent company, these interim financial results /
information are not material to the Group.
Our conclusion is not modified in respect of matters specified in paragraph (c) and (d) above
For Singhi & Co.
Chartered Accountants
Firm Registration No. 302049E

(NavincilTrumar Surana)
Partner
Membership No. 053816
ted UDIN: 25053816BMLMAN6740
Place: Kolkata
Date: July 15, 2025
 Himadrl
HIMADRI SPECIALITY CHEMICAL LIMITED
Registered Office: 23A Netaji Subhas Road
8th Floor, Suite No_ 15, Kolkata - 700 001
Corporate Identity Number: L27106WB1987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email: [email protected], Website: www.himadri.com
Rs. in Crores
Statement of Unaudited Consolidated Financial Results for the Quarter Ended 30 June 2025
Sr. Particulars Three months Previous Three Corresponding Three Previous year
No. ended months ended months ended ended
30.06.2025 31,03.2025 30.062024 in the 31,03.2025
previous year

(Unaudited) (Audited) (Unaudited) (Audited)

1. Income
(a) Revenue from Operations 1,118.29 1,134,64 1,200,41 4,612.63
(b) Other Income 26.68 13.52 12.64 51,69
Total Income 1,144.97 1,148_16 1.213,05 4_664.32

2. Expenses
(a) Cost of materials consumed 725.68 712 47 828.72 3,152.11
(b) Purchase of stock in trade 5.72 - .. -
(c) Changes in inventories of finished goods and work-in-progress (21.95) 32 09 21.05 (5.08)
(d) Employee benefits expense 41.12 35.68 31.46 139.39
(e) Finance costs 15.83 8.76 12.95 44.77
(f) Depreciation and amortisation expense 14.64 13.72 12,93 54 97
(g) Other expenses 122.71 121.09 127.26 471.99
Total Expenses 903.75 923.81 1,034.37 3,858 15

3. Profit/ (Loss) before exceptional items and tax (1-2) 241.22 224 35 178 68 806 17

4. Exceptional Items - -

5. Profit/ (Loss) before tax (3+4) 241.22 224.35 178 68 806.17

6. Tax expense
(a) Current tax 60.96 39.72 31 42 142 29
(b) Deferred tax 0.90 28,25 24.48 107.79
(c) Income tax related to earlier years 0.92 1 00
Total tax expense 61.86 68.89 55.90 251.08

7. Net Profit/ (Loss) after tax (5-6) 179.36 155.46 122.78 555.09

8. Other Comprehensive Income

Items that will not be reclassified subsequently to profit or loss 1.42 (3 25) 1.42 1.64
Income-tax relating to items that will not be reclassified to profit or loss 0.14 0.56 (0.16) 13.67
Items that will be reclassified subsequently to profit or loss 0.17 0.91 (0.19) 4.22
Income-tax relating to items that will be reclassified to profit or loss - - -
Total Other Comprehensive Income (net of tax) 1.73 (1 78) 1.07 19.53

9. Total Comprehensive Income (7+8) 181.09 153.68 123.85 574.62

10. Profit attributable to

(a) Owners of the Company 181.69 155.58 122.62 555.62
(b) Non-controlling interests (2.33) (0.12) 0.16 (0.53)

11. Other comprehensive income attributable to

(a) Owners of the Company 1.79 (1.75) 1 06 19 60
(b) Non-controlling interests (0.06) (0.03) 0.01 (0.07)

12. Total comprehensive income attributable to

(a) Owners of the Company 183.48 153.83 123 68 575.22
(b) Non-controlling interests (2.39) (0.15) 0.17 (0.60)

13. Paid-up equity share capital 49.38 49.38 49.35 49 38

(Face value Re.. 1 each)

14. Other Equity 3,672 36

15. Earnings per equity share (of Re. 1 each) (refer note 9)
(a) Basic (Rs.) 3.68 3.15 2.49 11 26
(b) Diluted (Rs.) 3.65 3.12 2.48 11.17
 Himadrl
HIMADRI SPECIALITY CHEMICAL LIMITED
Registered Office: 23A Netaji Subhas Road
8th Floor, Suite No. 15, Kolkata - 700 001
Corporate Identity Number: L27106WB1987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email: [email protected], Website: www.himadri.com
(Rs. in Crores
Consolidated Segment wise Revenue, Results, Assets and Liabilities

Sr. Particulars Three months Previous Three Corresponding Three Previous year
No. ended months ended months ended ended
30.06.2025 31.03.2025 30.06.2024 in the 31.03.2025
previous year

(Unaudited) (Audited) (Unaudited) (Audited)

1. Segment Revenue
(a) Carbon materials and chemicals 1,112.85 1,128.57 1,194.34 4,588.94
(b) Power 25.54 24.98 25.85 104.73

Total segment revenue (a + b) 1,138.39 1,153.55 1,220.19 4,693.67

Less: Inter segment revenue 20.10 18.91 19.78 81.04
Total Revenue from Operations 1.118.29 1,134.64 1.200.41 4.612.63

2. Segment Results
(a) Carbon materials and chemicals 198.47 195.43 151.55 698 84
(b) Power 22.14 21.86 23.13 92 93

Total segment profit before interest, tax and unallocable items (a + b) 220.61 217.29 174.68 791 77
Add/ (Less):
(a) Finance costs (15.83) (8.76) (12.95) (44 77)
(b) Other unallocable expenses net of unallocable income # 36.44 15.82 16.95 59 17
Total Profit/ (Loss) before tax 241.22 224.35 178.68 806 17

3. Segment Assets
(a) Carbon materials and chemicals 3,850.05 3,157 81 3,111,61 3,157 81
(b) Power 102.90 103.54 105.27 103.54
(c) Unallocated 1,400.08 1,394.66 1,150 70 1,394.66
Total assets 5,353.03 4.656.01 4.367.58 4.656.01

4. Segment Liabilities
(a) Carbon materials and chemicals 308.92 293.77 382.38 293 77
(b) Power 0.50 0 61 0.41 0 61
(c) Unallocated 1,133.60 590.69 709.22 590 69
Total liabilities 1,443.02 885.07 1,09101 885.07
# includes other income and foreign exchange loss/ (gain) (net), fully unallocable

Li 1

all YL
 Himadri
HIMADRI SPECIALITY CHEMICAL LIMITED
(Formerly known as Himadn Chemicals & Industries Limited)
Registered Office. 23A Netaji Subhas Road
8th Floor, Suite No 15, Kolkata - 700 001
Corporate Identity Number L27106WB I 987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email [email protected], Website: www himadri corn

NOTES:-
(1) Additional information pursuant to Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations. 2015, as amended for
Unaudited Consolidated Financial Results as at and for the Quarter Ended on 30 June 2025:

Sr. No. Particulars Three months Previous Three Corresponding Previous year '
ended months ended Three months ended
30.06.2025 31 032025 ended 30.06 2024 31.03.2025
in the previous year

(Unaudited) (Audited) (Unaudited) (Audited)

(a) Debt-Equity Ratio (in times) 0.22 0.08 0 15 0 08

Total Debt / Shareholder's Equity

Total Debt: Non-current borrowings+Current borrowings+ Non-current and Current lease liabilities

Shareholder's Equity: Equity share capital + Other equity (including non-controlling interests)

(b) Debt Service Coverage Ratio (in times) 12.37 -11 78 9 02 8 42

Earning for Debt Service (i e Net Profit after taxes + Non-cash operating expenses like depreciation and other
amortizations + Interest + other adjustments like loss on sale of fixed assets+Loss allowances For doubtful trade
receivables and advances+Gain/Loss on fair value of current/non current investments+Unrealised foreign exchange
fluctuations etc ) / Debt service (i e. Interest & Lease Payments + Principal Repayments excluding Prepayments of
non-current borrowings)

(c) Interest Service Coverage Ratio (in times) 17.16 28 16 15 80 20.23

Earning Before Interest, Tax, Depreciation and Amortisation expenses (EBITDA) / Interest expense

(d) Current Ratio (in times) 2.27 3 56 2 43 3 56

Current assets / Current liabilities

le) Long Term Debt to Working Capital Ratio (in times) 0.00 0 00 0 03 0 00
(Non current borrowings + Non current lease liabilities + Current maturity of non-current borrowings) / (Current assets-
Current liabilities)

(t) Bad Debts to Account Receivable Ratio (in times)^ 0.00 0 00 0 00 0 00

Bad debts / Average trade receivables

(g) Current Liability Ratio (in times) 0.80 0 68 0 79 0 68

Current liabilities / Total liabilities

(l1) Total Debts to Total Assets Ratio (in times) 0.16 0 07 0 11 0 07

(Non-current borrowings+Current borrowings - Non-current and Current lease liabilities) / Total assets

(i) Debtors Turnover (in times) . 1.67 1 77 174 7 05

Revenue from operations / Average trade receivables

(j) Inventory Turnover (in times) • 1.08 1 14 1 30 4 89

Cost of goods sold / Average inventory

(k) Operating Margin (%) 21.04% 20 36% 15 63% 18.36%

[Profit before tax and extraordinary items + Depreciation and amortisations + Finance costs - Other income + Exchange
loss /(Gains) / Revenue from operations]

(I) Net Profit Margin (%) 16.04% 1170% 10 23% 12 03%

Net profit after tax / Revenue from operations

(m) Outstanding Redeemable Preference Shares (Quantity) Nil Nil Nil Ntl

(n) Outstanding Redeemable Preference Shares (Value) Nil Nit Nil Nil

(o) Capital Redemption Reserve (Rs. in Crores) Nil Nil Nil NI]

(p) Debenture Redemption Reserve (Rs. in Crores) l Nil Nil Nil Nil

(q) Net Worth (Rs. in Crores) 3881.93 3721 74 3264 92 3721.74

Equity share capital + Other equity

(r) Net Profit After Tax (Rs. in Crores) 179.36 155 46 122 78 555 09

(s) Earnings Per Share (Face Value of Re. 1 each) .

Basic 3.68 315 2.49 11 26
Diluted 3.65 3 12 2.48 11 17
• not anntialisedfbr the interim periods

1 The Company has issued 2,000 units of Commercial Paper of face value of Rs 5,00,000/- each aggregating to Rs 100 Crores at a discount rate of 6 75% p a., due for redemption on 28 August 2025
The credit rating assigned for the Commercial Paper by 1CRA is A I+

2,The Company has issued 4,000 units of Commercial Paper of face value of Rs. 5,00,000/- each aggregating to Rs 200 Crores at a discount rate of 6.30% p.a , due for redemption on 25 September
2025. The credit rating assigned for the Commercial Paper by ICRA is Al+.

till
&
co
 Himadri
HIMADRI SPECIALITY CHEMICAL LIMITED
Registered Office: 23A Netaji Subhas Road
8th Floor, Suite No. 15, Kolkata - 700 001
Corporate Identity Number: L27106WB1987PLC042756
Phone: (033)2230-9953, Fax: (033)2230-9051
Email: info®himadri.com, Website: www.himadri.com

(2) The above unaudited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on
15 July 2025. A Limited Review of these consolidated financial results for the quarter ended 30 June 2025 has been carried out by the Statutory Auditors, as required under
Regulation 33 of SEBI (LODR) Regulations, 2015,

(3) Other expenses includes foreign exchange fluctuation loss/ (gain) (net) of Rs (9.76) crores for the quarter ended 30 June 2025, Rs (2.30) crores for the quarter ended 31
March 2025, Rs (4.31) crores for the quarter ended 30 June 2024 and Rs (7.48) crores for the year ended 31 March 2025.
Finance cost includes exchange difference regarded as an adjustment to borrowing costs in accordance with Ind AS 23, of Re Nil for the quarter ended 30 June 2025, of Re
0.23 crore for the quarter ended 31 March 2025, Re Nil for the quarter ended 30 June 2024 and Rs 2,10 crores for the year ended 31 March 2025.

(4) Based on the guiding principles given in Ind AS 108 on 'Operating Segments', the Group's business activity falls within two operating segments, namely:
(a) Carbon materials and chemicals, and
(b) Power

(5) The consolidated financial results are prepared in accordance with the principles and procedures for the preparation and presentation of consolidated financial results as set
out in Ind AS 110 'Consolidated Financial Statements' notified by Ministry of Corporate Affairs.
The consolidated financial results of Himadri Speciality Chemical Limited (the Holding Company or the Parent), include its subsidiaries, namely AAT Global Limited.
Shandong Dawn Himadri Chemical Industry Limited, Himadri Speciality Inc (w.e.f 07 February 2025), Combe Projects Private Limited, Himadri Clean Energy Limited.
Himadri Future Material Technology Limited, Invati Creations Private Limited (w.e.f 17 May 2024), Himadri Green Technologies Innovation Limited (w.e.f 01 August
2024), Birla Tyres Limited (w.e.f 01 April 2025), Himadri Birla Tyre Manufacturer Private Limited (w.e.f 01 April 2025), Trancemarine and Confreight Logistics Private
Limited (w.e.f 04 April 2025), Sturdy Niketan Private Limited (w.e.f 04 April 2025) and Elixir Carbo Private Limited (w.e.f 22 April 2025) (the Holding Company or the
Parent and its subsidiaries together referred to as the 'Group'), combined on a line-by-line basis by adding together the book values of like items of asset and liabilities,
income and expenses eliminating intra-group balances and transactions and resulting unrealised gains/ (losses).
The Holding Company has acquired 40% and 49% paid-up share capital of M/s. Invati Creations Private Limited (ICPL) and Himadri Birla Tyre Manufacturer Private
Limited (HBTMPL) respectively and this voting right does not qualify ICPL and HBTMPL as a subsidiary under Section 2(87) of the Companies Act, 2013. However
based on contractual rights (including potential voting right), the Holding Company has the power to make decisions concerning relevant activities and thus has control over
ICPL and HBTMPL as per IND AS 110: "Consolidated Financial Statements." Consequently, the management of the Holding Company has decided to consolidate the
financial results of ICPL as a subsidiary with effect from May 17, 2024 and 1 April 2025 respectively_
The consolidated financial results are prepared applying uniform accounting policies on all material items.

(6) The consolidated figures for the three months ended 31 March 2025 as reported in these consolidated financial results are the balancing figures between audited figures in
respect of the full financial year and the published year to date consolidated figures up to the end of the nine months of the relevant financial year_ Also the Consolidated
figures up to the third quarter had only been reviewed and not subjected to audit.

(7) Effective 01 April 2025 the Holding Company has migrated to the Lower Tax Regime as prescribed under section 1 I5BAA of the Income Tax Act 1961, introduced by the
Taxation Laws (Amendment) Act, 2019. The Holding Company had during the previous year, re-assessed the carrying value of deferred tax assets! Liability and took a
reversal of deferred tax liability of Rs 3 01 Crores during the quarter and year ended 31 March 2025 on account of deferred tax to be reversed during lower tax regime The
Holding Company had also charged to deferred tax liability, unutilised MAT of Rs 3,57 Crores during the quarter and year ended 31 March 2025 as the same is not eligible
to be set off during lower tax Regime.

(8) During the quarter ended 30 June 2025, the Holding Company has issued commercial papers which were listed on the BSE pursuant to SEBI Master Circular No
SEBIIHOIDDHS/PoDUP/CIR/2024154 dated 22 May 2024.
(9) Earnings per share is not annualised for the quarter ended 30 June 2025, 3 I March 2025 and 30 June 2024.

On behalf of the Board of Directors

Anurag Choudhary
Place' Kolkata Chairman
Date. 15 July 2025 DIN: 00173934