Himadri Speciality Chemical FY'19 profit up 31 pct at Rs 324 crore

Himadri Speciality Chemical has posted 31 per cent rise in consolidated net profit to Rs 324 crore during the last fiscal on higher sales. Its net profit stood at Rs 248 crore in 2017-18, the Kolkata-based company said in a statement. Total revenue increased 20 per cent to Rs 2,422 crore in 2018-19 compared to Rs 2,022 crore in the previous year. The company continued to deliver solid performance across revenues and profit after tax (PAT) on the back of transformational strategy leading to better product mix with focus on high value products, the statement said.

The board recommended a dividend of 15 per cent of the total paid up equity capital with face value of Re 1 per equity share. "We have maintained our focus on reducing the working capital bringing it down to 23 per cent from 29 per cent. We have also reduced the net debt by Rs 200 crore to Rs 425 crore during the year while making significant capex investments towards next generation of carbon speciality products," Himadri Speciality Chemical CEO Anurag Choudhary said.

The company is entering into high technology businesses of advanced carbon material and speciality carbon black, he added.