Himadri Speciality Chemical reported 51 per cent increase in March quarter net profit at ₹115 crore against ₹76 crore logged in the same period last year on higher sales and addition of new speciality product.

Revenue was up at ₹1,177 crore (₹1,028 crore). EBITDA in the quarter under review was up 45 per cent at ₹177 crore. Sales volume jumped to 1.40 lakh tonnes (99,989 tonnes). The company turned net debt-free and has a cash surplus of ₹142 crore.

It has announced a brownfield expansion of a new speciality carbon black line of 70,000 MTPA (increasing the total speciality carbon black capacity to 130,000 MTPA making it world’s largest speciality carbon black capacity at single site) at an estimated capex of ₹220 crore which is scheduled to be operational within 18 months.

Shares of the company was up one per cent at ₹372 on Friday.