On May 4, 2023, shares of Himadri Speciality Chemical, a mid-cap chemical company, surged 6% to reach a 52-week high of ₹642.40 in intraday trading. This rise follows a 13.5% year-on-year (YoY) increase in consolidated revenue, amounting to ₹1,288 crore. The company's EBITDA also rose by 21.15% YoY to ₹280 crore, with an operating margin of 21.74%. Additionally, net profit jumped 33.5% YoY to ₹207.53 crore. Over the past three months, the stock has gained over 30%, reflecting strong investor confidence. Ravi Singh, Chief Research Officer at Master Capital Services, noted that the company's business model has evolved significantly, expanding beyond coal tar pitch and carbon black to include speciality chemicals and components for electric vehicle (EV) batteries. Himadri's expansion initiatives aim to position it as a leading supplier in the battery materials sector, with plans to double its profit by FY28. The company is also focused on reducing India's dependence on imports in key chemical sectors, further enhancing its growth prospects.