Himadri Speciality shares hit 52-week high on stellar Q1 earnings; key details

Shares of Himadri Speciality Chemical Ltd hit a fresh 52 week high in early trade today after the firm logged a stellar 123.2 percent year-on-year rise in consolidated profit for the quarter ended June 2023. Himadri Speciality shares gained 3.32% to a yearly high of Rs 149.20 against the previous close of Rs 144.40 on BSE.  

Himadri Speciality stock opened higher at Rs 149.20 on Wednesday. Market cap of the firm rose to Rs 6374.86 crore. Total 0.31 lakh shares changed hands amounting to a turnover of Rs 45.85 lakh on BSE. The speciality chemical stock has surged 69% in a year and gained 44% in 2023. It has zoomed 186% in three years.        

In terms of technicals, the relative strength index (RSI) of Himadri Speciality stood at 72.2, signaling it's trading in the overbought zone. Himadri Speciality stock has a one-year beta of 1, indicating average volatility during the period. Himadri Speciality shares are trading higher than the 5 day, 10 day,  20 day, 50 day, 100 day and 200 day averages.  

Net profit rose to Rs 86.15 crore in Q4 on lower input costs and other expenses. Profit in June 2022 quarter stood at Rs 38.6 crore. However, revenue dropped 9.1 percent to Rs 950.91 crore compared to Rs 1048.2 in the year-ago period.

EBITDA increased by 54% to Rs 131 crores in Q1FY24 against Rs 71.6 crore in the June 2022 quarter. The firm said its sales volume has remained consistent above 95,000 MT in the last six quarters.  

Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals. The company has operations in India and caters to both domestic and international markets.

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