Himadri Speciality Chemical Ltd
WILL IT BE A
MULTIBAGGER IN FUTURE
WILL Invest Rs 1000 Crore
In Carbon Black Business In West Bengal
A REVIEW
Ø established in 1990
Ø Only company with the largest fully integrated specialty carbon complex,
one of its kind in the world
Ø Specializes in developing coal tar by-products and derivatives including
Ø ADVANCED CARBON MATERIALS
Ø CARBON BLACK
Ø COAL TAR PITCH
Ø NAPHTHALENE DERIVATIVES
Ø SNF(Sulphonated Naphthalene
Formaldehyde)
Ø PCE
Ø CORROSION PROTECTION
Ø SPECIALITY OILS
Ø POWER
Ø INDUSTRIES
Ø LITHIUM – ION BATTERY
Ø ALUMINIUM
Ø GRAPHITE
Ø INFRASTRUCTURE ∕ CONSTRUCTION
Ø TYRES
Ø MECHANICAL RUBBER GOODS
Ø PLASTICS
Ø DYES AND INTERMEDIARIES
Ø OTHERS
Ø Coal tar is the key raw material used to derive various
other speciality chemicals. It is distilled to produce coal tar pitch,
naphthalene, creosote oils and other speciality oils of various grades.
Naphthalene is further processed to produce Sulphonated Naphthalene
Formaldehyde (SNF). Creosote oils and other Speciality oils are sold to
customers for specialised applications as well as further processed into carbon
black feedstock to manufacture carbon black. Clean and green power is generated
as a co-product for captive consumption and the surplus power is exported to
State Grid. It also develops advance carbon material from coal tar to manufacture
anode material for lithium-ion batteries.
Ø the largest producer of coal tar pitch in India
Ø demand for Himadri Speciality’s Products is slated for robust growth
Ø a leader in products like Coal Tar Pitch with market share of around 70%
catering to more than two-thirds of the Indian Graphite and Aluminium industry,
Carbon Black with market share of 17% catering to niche application in Tyre and
non-Tyre industry.
Ø forward integration which includes advance carbon material and other
value added speciality products.
Ø maintaining consistent leadership in the core products and developing
market for the value-added product.
Ø Market capitalization of over $ 1 Bn
Ø eight manufacturing capacities spread across West Bengal, Andhra
Pradesh, Chhattisgarh, Gujarat and Odisha.Now, it has 9 ‘Zero Discharge’ World
Class Manufacturing Facilities across India & China.
Ø Investing Rs 1000 crore to produce speciality Carbon Black
Ø At its existing integrated plant in Mahistikry, West Bengal for producing
Specialty Carbon Black.
Ø Formidable downstream presence in aluminium, graphite electrode,
lithium-ion batteries, infrastructure, tyres and rubber and non-rubber
application sectors.
Ø India's consumption of carbon black is growing by about 6.3 % per year.
Ø 17% market share; 3rd largest player in Carbon Black in the country.
Ø State of the art plant; technological advancement and product grade flexibility;
one of the most desirable brand
Ø New investment towards new product lines - to introduce the entire range
of specialty black carbon, highly technical product ; significant entry
barriers; currently dominated by only a handful of global players.
Ø This expansion will generate direct and indirect employment opportunity
for over 1500 people.
Ø “Aim is to be amongst the TOP 5 global Specialty Black Players.
relentless R&D effort;
Ø In 8 years -Its R&D team developed different grades of speciality
black which have wide range of applications ranging from Tyre speciality ,
Wires & Cables , Moulded Rubber Goods, Plastic , Inks & Coatings , and
Fibres among many other products. It is its OWN TECHNOLOGY
Ø Large portfolio of products - FOR diverse industries - HAS a niche in
its sector.
Ø Already introduced 10 grades in the last 1.5 years in domestic and
global markets.
Ø Now expanding business in North America, Europe, South East Asia and
Middle East Markets.
Ø The R&D Centre is – NABL (National Accreditation Board for Testing
and Calibration Laboratories) - accredited and is recognized by the Department
of Science and Technology and the department of Scientific and Industrial
Research GOI.
Ø 9th May, 2018: HSCL has received the prestigious “World’s 100 Greatest Brands 2017-18 Asia & GCC award” at
Hotel JW Marriott Marquis, Dubai, UAE.
Ø Mr Anurag Choudhary, CEO, HSCL was recognised as ONE OF
THE “World’s 100 Greatest Leaders 2017-18” at the same event
Ø Mr Anurag Choudhary joined Himadri as a part of the
founding team in 1992 and became its CEO in 2006.
Ø He led the Company’s transformation from a coal tar
pitch manufacturing company to one of the world’s most extensive value chains
in the carbon segment.
Ø Mr.Kamlesh Kumat Agarwal is the Chief Financial
Officer.Mr.Bankey Lal Choudhary is the MD.
Ø RESULTS
HIMADRI
|
Dec '17
|
Sep '17
|
Jun '17
|
Mar '17
|
Dec '16
|
YOY
|
QOQ
|
Net Sales
|
500.08
|
468.02
|
452.32
|
375.54
|
346.16
|
44.46
|
6.85
|
P B T
|
105.19
|
75.77
|
74.53
|
45.65
|
30.74
|
242.19
|
38.83
|
Tax
|
35.05
|
24.61
|
24.5
|
15.25
|
10.63
|
229.73
|
42.42
|
Net Profit
|
70.14
|
51.16
|
50.03
|
30.4
|
20.11
|
248.78
|
37.1
|
Equity
|
41.84
|
41.84
|
41.84
|
41.84
|
41.84
|
0
|
0
|
Basic EPS
|
1.68
|
1.22
|
1.2
|
0.73
|
0.48
|
250
|
37.7
|
Diluted EPS
|
1.68
|
1.22
|
1.2
|
0.73
|
0.48
|
250
|
37.7
|
MP
|
128
|
||||||
PE
|
19.04761905
|
||||||
PRICE TREND
|
|||||||
03.06.18
|
1 week
|
2 week
|
1 month
|
3 month
|
6 month
|
9 month
|
1 year
|
Price
|
135.55
|
135.3
|
143.95
|
157.05
|
161.65
|
112
|
60.25
|
Gain / Loss
|
-5.83%
|
-5.65%
|
-11.32%
|
-18.72%
|
-21.03%
|
13.97%
|
111.87%
|
ANNUALS
|
Mar '18
|
Mar '17
|
YOY
|
Net Sales/Income from operations
|
1,971.17
|
1,318.49
|
49.5
|
P B T
|
355.93
|
123.41
|
188.41
|
Tax
|
113.35
|
42.23
|
168.41
|
N P T
|
242.58
|
81.18
|
198.82
|
Equity
|
41.84
|
41.84
|
0
|
Reserves Excluding Revaluation Reserves
|
1,414.48
|
1,036.26
|
36.5
|
Equity Dividend Rate (%)
|
10
|
10
|
0
|
Basic EPS
|
5.8
|
1.94
|
198.97
|
Diluted EPS
|
5.8
|
1.94
|
198.97
|
|
Mar '18
|
Dec '17
|
Sep '17
|
Jun '17
|
Mar '17
|
YOY
|
QOQ
|
|
|
Net Sales
|
550.75
|
500.08
|
468.02
|
452.32
|
375.54
|
46.66
|
10.13
|
|
|
Interest
|
18.92
|
12.11
|
20.81
|
18.59
|
13.83
|
36.8
|
56.23
|
|
|
P B T
|
100.44
|
105.19
|
75.77
|
74.53
|
45.65
|
120.02
|
-4.52
|
|
|
Tax
|
29.19
|
35.05
|
24.61
|
24.5
|
15.25
|
91.41
|
-16.72
|
|
|
Net Profit
|
71.25
|
70.14
|
51.16
|
50.03
|
30.4
|
134.38
|
1.58
|
|
|
Equity
|
41.84
|
41.84
|
41.84
|
41.84
|
41.84
|
0
|
0
|
|
|
Basic EPS
|
1.7
|
1.68
|
1.22
|
1.2
|
0.73
|
132.88
|
1.19
|
|
|
Diluted EPS
|
1.7
|
1.68
|
1.22
|
1.2
|
0.73
|
132.88
|
1.19
|
This analysis is not a recommendation for BUY/SELL/HOLD decisions. Investors must make their own further analysis and take their independent decisions.
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