Shares of Himadri Speciality Chemical ended Thursday’s trade with a nearly 2% gain at ₹590 apiece, even as the broader market remained under pressure. The gains came after the company announced a further investment in Australia-based Sicona Battery Technologies through the subscription of Compulsorily Convertible Notes (CCNs).
The company said it has invested an additional AUD 25.59 lakh in cash towards the subscription of 25.59 lakh CCNs with a face value of AUD 1 each.
Earlier, Himadri had invested AUD 1.41 crore towards the subscription of 1.41 crore CCNs in Sicona. Following the latest tranche, the company’s cumulative holding in Sicona has increased to 1.67 crore CCNs, as per the company’s filing.
Himadri added that the remaining balance of 16.94 lakh CCNs will be subscribed in agreed tranches going forward.
The company clarified that since the investment is being made in the form of CCNs, it has not acquired any additional voting rights or control in Sicona at present. The CCNs will be convertible into shares of Sicona as per agreed terms.
Meanwhile, the company’s shares have continued to attract investor interest lately amid multiple positive developments, including a better-than-expected performance in the March quarter.
The company reported a 13.5% year-on-year (YoY) increase in consolidated revenue to ₹1,288 crore. EBITDA rose 21.15% YoY to ₹280 crore, with operating margins expanding to 21.74%.
₹207.53 crore”>Net profit surged 33.5% YoY to ₹207.53 crore. For the full FY26, the company reported revenue of ₹4,660.70 crore and EBITDA of ₹755.07 crore, reflecting marginal 1% YoY revenue growth and a strong 36% YoY rise in EBITDA, according to the company’s earnings filing.
Stable volumes combined with higher margins drove the company’s strong performance during the year, while its strategic focus on value-added products continued to support profitability growth.
In late April, the company also announced the commissioning of its first anode material production facility at Mahistikry, West Bengal, with an initial capacity of 200 MTPA. The backward integration, along with proprietary process know-how, is expected to enable a fully integrated and self-reliant manufacturing ecosystem across the anode material value chain.
Shares recover 40% from recent lows
The stock staged a strong rebound in April, with a 38% surge, after delivering muted returns over the previous three months. The rally has also helped push its year-to-date returns to 21%.
Earlier this year, the stock touched a low of ₹421 apiece and has since rebounded by 40% at current levels, marking a sharp turnaround from a 17% decline in CY25.
Historically, the stock has delivered positive returns for four consecutive years from 2021 to 2024, with 2023 emerging as the best-performing year, recording a gain of 207%. Looking at the cumulative performance, the stock delivered a 385% return in three years and 1084% in five years.
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