Kolkata-headquartered Himadri Speciality Chemical has announced its financial results for Q3 FY2025 with revenue of INR 11.32 billion, up 7.5 percent YoY, as against INR 10.53 billion for the same period a year ago. The EBITDA came at INR 2.2 billion, as against INR 1.69 billion, and net profit grew by 31.48 percent at INR 1.42 billion as against INR 1.08 billion for the same period last year.

Anurag Choudhary, CMD & CEO, Himadri Speciality Chemical, said, “We are excited to share our Q3 and 9M FY25 results, which showcase a strong and sustainable performance across all key financial and operational metrics. We achieved our highest-ever quarterly EBITDA of INR 2.22 billion in December quarter. For the 9M period, our sales volumes grew by 24 percent, reaching 415,679 MT, up from 335,265 MT in the same period last year. This growth was reflected in a 34 percent increase in EBITDA to INR 6.11 billion, and a 35 percent rise in PAT to INR 4.0 billion, further solidifying our upward trajectory. Our balance sheet continues to reflect our financial discipline and resilience, with a net positive cash balance of INR 1.09 billion. This positions us well to capitalise on strategic opportunities and drive long-term value creation.”

“I am pleased to inform you all that Himadri Speciality Chemical has recently been awarded with EcoVadis Platinum medal. This recognition is awarded to the top 1 percent of companies assessed by EcoVadis in the world amongst more than 130,000 assessed companies globally. This distinction reflects the quality of the company's sustainability management system and demonstrates the highest level of corporate governance and a commitment to promoting transparency throughout the value chain. Himadri has reported robust performance across its portfolio of products. Our export portfolio is strengthening, particularly bolstered by the commencement of our high-temperature Liquid Coal Tar Pitch export terminal at Haldia Port in October 2024,” he added.

Furthermore Choudhary announced that the company had earmarked INR 1.2 billion towards expanding its presence in high-value products – including Anthraquinone, Carbazole, Fluorene – from its existing coal tar distillates. The expansion is expected to be completed within the next 18 months.

Furthermore, it sees the booming electric vehicle industry in India to provide new growth impetus. Himadri Speciality Chemical expects the demand for lithium-ion battery, in the cathode active material space, LFP continue to be the leading technology, with graphite anodes dominating the anode technology. The company shared that it has been progressing well on development of these technologies and its LFP cathode project is moving forward as planned.

It is also on track to commence operations and enter the tyre space on the back of its acquisition of Birla Tyres. The commercial production is expected to start soon with ramping up of production being planned over the next two to three years.

Adding to that it is also enhancing carbon black production from its Singur facility from the existing 180,000 MTPA to 250,000 MTPA by Q3 FY2026. This also will see it scaling up its specialty carbon black capacity to more than double at 130,000 MTPA from the present 60,000 MTPA. 

Leading global tyre manufacturer Hankook Tire unveiled its 5th generation lineup of truck and bus radial (TBR) tyres at the 2025 Technology & Maintenance Council (TMC) Annual Meeting & Transportation Technology Exhibition in Nashville, Tennessee. The company also took the opportunity to share that the Phase 3 construction at its Tennessee Plant to increase TBR capacity will commence by the end of 2025.

The new members of Hankook's TBR family and all upcoming truck and bus tyre products will be marketed under the Hankook Smart Brand in accordance with the planned facility expansion. Hankook's Smartec technological concept is used in Smart Brand tyres, which incorporate novel tread compounds and Self-Generated 3D Sipe technology.

Among the new tyres displayed at the Hankook booth #619 at the event are the Smart Flex AH51/DH51/DH52 premium performance all-condition tyre for extended mileage and lifespan; Smart Line TL52 trailer tyre optimised for long-haul performance manufactured at Hankook Tire's US manufacturing plant in Clarksville, Tennessee; Smart Line AL52 and DL52 TBR long-haul tyres and eSmart City AU56 exclusive electric commercial vehicle tyre for high load capacity, extended battery efficiency and tread life. Attendees will also be updated about the future technology plans through videos and comprehensive explanations of current commercial vehicle solutions.

Phase 2 of the Passenger Car and Light Truck (PCLT) Line and Phase 3 of the Truck and Bus Radial (TBR) Line expansion are now underway at the Tennessee Plant in Clarksville. When the expansion plan is finished, the factory will have around 2,200 employees, produce 10 million PCLT and 1 million TBR tyres annually.

Rob Williams, President, Hankook Tire America Corp, said, "TMC provides a great opportunity to showcase the many innovations and exciting updates happening on the TBR side with Hankook. It's exciting to be part of TMC in the same city as our North America headquarters in Nashville and our US manufacturing plant in nearby Clarksville. With advanced, new tech-forward products and the promise of a significant expansion of our TBR manufacturing capacity, we look forward to continue our growth and industry leadership, especially in such an innovative sector. This event gives us a perfect opportunity to connect with fleets and industry stakeholders and strengthen customer partnerships."

Continental's Supervisory Board has approved the proposed spin-off of Automotive and advised the 2025 Annual Shareholders' Meeting to approve this move as well. According to the Supervisory Board's decision, the new independent firm must have EUR 1.5 billion in cash funds before the time of the spin-off, subject to this approval, and the two future businesses must have a clear business-related distribution of possibilities and risks. A EUR 2.5 billion revolving credit facility will also be used to bolster the funding of Automotive's operational operations.

The Supervisory Board was also briefed by Continental's Executive Board on the next milestones for the spin-off. Short and mid-term goals for Automotive and Continental (Tires and ContiTech) will be presented at their respective Capital Market Days on 24 June and 25 June 2025. Germany's Frankfurt am Main will host both of these events. As of right now, September 2025 is when Automotive is expected to list on the Frankfurt Stock Exchange. The anticipated allocation ratio is 2:1, meaning that for every two Continental shares held at the time of the spin-off, each Continental shareholder will get one share in the then-listed Automotive firm.

The Supervisory Board of the proposed independent automotive firm will be chaired by Stefan E Buchner, a member of Continental's Supervisory Board. As previously stated, when Automotive spins out, Philipp von Hirschheydt will remain CEO. In light of this, his appointment to the Executive Board of the future firm was accepted by the Supervisory Board today. The Executive Board and Supervisory Board also reached a consensus on Continental's dividend policy for the future during today's meeting. Continental shareholders can anticipate a higher payout of 40 to 60 percent of consolidated net income (previously: 20 to 40 percent). The independent company's intended range is between 10 and 30 percent of consolidated net income, and it will go into effect as soon as the earnings situation permits.

Wolfgang Reitzle, Chairman of Continental’s Supervisory Board, said, “Today, the Supervisory Board unanimously gave the green light for the spin-off of Automotive. This is an important step in Continental’s realignment. Focused companies are significantly more agile and can create more value, especially in a challenging environment.”

Nikolai Setzer, CEO, Continental said, “Thanks to the intensive work of everyone involved, the preparations for the spin-off are well advanced. On this basis and with the approval of the Annual Shareholders’ Meeting, the spin-off can go ahead as planned. As part of this realignment, we are strengthening the independence of all our group sectors: Automotive, Tyres and ContiTech. This will enable them to be even more agile and closer to customers and markets so they can achieve their full growth and value potential.”

Philipp von Hirschheydt said, “I am delighted with the confidence the Supervisory Board has shown in the entire Automotive team and in me personally. Our earnings performance in 2024 proves that we are on the right track and are ready to develop further as an independent listed company.”

The auto wholesales for February 2025 are out, and the industry has posted numbers in the red. The latest automotive wholesales data from the Society of Indian Automobile Manufacturers (SIAM) for February showed that a total of 1.82 million units were sold last month, which was 7 percent lower as compared to 1.94 million units sold for the same period last year and 8 percent lower than that of January 2025 sales.

The de-growth was primarily driven by a slowdown in sales of two-wheelers, especially motorcycles, which dropped by 13 percent YoY.

In the passenger vehicle space, SUVs continued to drive demand, registering a healthy growth of 9 percent with sales coming at 208,795 units, compared to 191,435 units a year ago. Passenger cars, on the other hand, reported sales of 110,966 units, which was 4 percent lower compared to the same period last year.

Three-wheeler sales came to 57,788 units, which was 5 percent higher compared to 55,175 units sold last year. The sales were driven by passenger carriers and goods carriers in the Internal Combustion Engine (ICE) segment, as compared to a negative growth witnessed by the E-rickshaw and E-cart segment.

Going forward, all eyes are on the Holi and the Ugadi festivals, which is expected to provide a positive fillip to the monthly sales.

Rajesh Menon, Director General, SIAM, stated that the “Upcoming festivities of Holi and Ugadi in March is likely to continue to drive demand, thereby closing FY 2024-25 on a reasonably positive note."

Shanghai-based Red Avenue New Materials Group, the world's largest supplier of speciality additives for tyres, has invested USD 70 million to build a new rubber additives factory in Rayong, Thailand.

The new plant will be operational by 2027 with an annual production capacity of 30,000 tonnes of rubber additives. The factory will be a joint venture with Gold Dynasty, a business owned by Zhang Ning, Red Avenue’s chairwoman and controlling shareholder. Red Avenue will own 51 percent stake, while Gold Dynasty will own the remaining shares. In addition to strengthening Red Avenue's position as a primary supplier to international customers (including multinational tyre manufacturers like Bridgestone, Michelin and Pirelli), the project will take advantage of Southeast Asia's cost advantages.

Additionally, the facility will improve the company's ability to sell internationally and provide it greater flexibility in adapting to shifts in the industrial policy, global trade landscape and economic climate.