Transcript of Earnings Conference Call for the Financial Performance for the 4th Quarter and Financial Year ended 31 March 2026
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Himadri reported record FY26 performance with consolidated EBITDA of ₹1,006 crores (+19% YoY) and PAT of ₹755 crores (+36% YoY). Key highlights include commissioning of first anode material facility (200 MTPA) at Mahistikry, expansion of specialty carbon black capacity to 130,000 MTPA making it the world's largest single-location plant, and debottlenecking coal-tar pitch capacity to 600,000 MTPA. The company is executing a phased LFP cathode strategy with 40,000 MTPA Phase 1 capacity (₹1,125 crore capex), targeting first 2,000 MT commissioning by Q3 FY27 and full operations by FY29. Strategic partnerships include Sicona Battery Technologies (silicon-carbon anode), IBC (U.S. cell manufacturer), and Invati Creations. Birla Tyres contributed ₹187 crore revenue in its first half-year of operations under Himadri, with a ₹3,000 crore revenue target over 4 years. The company committed to doubling PAT from FY25's ₹555 crore to ₹1,100+ crore by FY28.
Strong execution with multi-year growth visibility through lithium-ion battery materials entry, capacity expansions, and margin expansion potential. The company signals FY27 will see both top-line and bottom-line growth after years of value-add focus without volume growth.