Himadri Speciality Chemicals shares jump 3% as board approves tyre business demerger from Dalmia Bharat Refractories

The clean-tech player in a regulatory filing said that its board of directors had cleared the proposal after considering recommendations and reports from the company's Audit Committee and Committee of Independent Directors.

The scheme of arrangement will be undertaken “as a going concern, on an as-is, where-is basis”, the filing said.

When a business is transferred as a going concern, it is being transferred as a fully operational business. It continues to run uninterrupted without stopping production during the transfer.

On an “as-is, where-is” basis, transfer means HSCL will be taking over the tyre business in its current physical, operational, and legal state—including all existing assets, liabilities, contracts, and facilities.

Following the transaction, Himadri Speciality Chemicals will issue new shares to eligible Dalmia Bharat Refractories shareholders. The number of shares will be determined by the share entitlement ratio specified in the scheme, the filing added.

The transaction is subject to approvals from regulators and other stakeholders, including the Securities and Exchange Board of India (SEBI), the stock exchanges and the National Company Law Tribunal (NCLT).

Himadri Speciality Chemicals Q1 earnings

The company’s consolidated net profit soared 27.36% year-on-year (YoY) to ₹228.43 crore in the June quarter, on account of higher income. It had reported a net profit of ₹179.36 crore in the corresponding quarter of the preceding 2025-26 fiscal year (Q1 FY26).

During April-June, the company reported its highest-ever quarterly revenue, which jumped 28.04% YoY to ₹1,431.88 crore in Q1 FY27, compared with ₹1,118.29 crore in the year-ago quarter.

At an operational level, its EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, stood at ₹313 crore for the reporting quarter, reflecting a 33% YoY increase from ₹235 crore in the first quarter of FY26. Its margin stood at 22% during the quarter.

Himadri Speciality Chemicals share price trends

At 12:31 PM, Himadri Speciality Chemicals shares were trading at ₹684.15 apiece on the National Stock Exchange, gaining 1.3%.

From the beginning of the year, Himadri Speciality Chemicals shares have jumped 41%. Over a month’s time, the stock has climbed 4.5%, while for a six-month period, it has soared 56%.

Shares of the firm had hit a 52-week high of ₹810.40 on July 21, 2026, and a 52-week low of ₹418.50 on November 24, 2025.

According to NSE data, as of September 18, 2026, Himadri Speciality Chemicals has a total market capitalisation of ₹34,528.01 crore.