Stock Crash: This specialty chemical stock has seen its worst weekly fall in nearly two decades

Shares of Himadri Specialty Chemicals Ltd. are trading with losses of another 5.5% on Friday, October 23, extending their losses for the fourth straight session. The stock has declined in seven out of the last 10 trading sessions.With this, the stock is now down over 25% for this truncated week, making it the worst performer on the Nifty Smallcap 100 index. The last instance of the stock declining by such a quantum in a week, was back in January 2009, when the stock had declined 29%.Himadri Specialty Chemicals reported its September quarter results last week, where its revenue increased by 44.2% from last year to ₹1,543 crore.Earnings Before Interest, Tax, Depreciation and Amortisation for the quarter increased by 34.7% to ₹320 crore, while operating profit margins narrowed by 140 basis points from last year to 20.7% from 22.1% in the year-ago period.The company's volumes stood at 1.46 lakh MT from 1.35 lakh MT last year and it also said that it is moving to high value addition products.In its investor presentation, the company also highlighted that its self-funded capex worth nearly ₹1,500 crore for LFP, Specialty Chemicals, Carbon Nano Tubes and Super Specialty Carbon Black, is progressing as per schedule.Himadri Specialty Chemicals is not a stock that has been tracked very widely by analysts as only three have coverage on it, of which one has a "buy" rating, and two others have a "hold" recommendation.Shares of Himadri Specialty Chemicals are trading 5.3% lower on Friday at ₹495.

The stock had surged to a 52-week high of ₹819.5 in July this year, and from those levels, the stock has corrected 34%. This sell-off has also ensured that the stock has given up all the gains this year and is now nearly flat on a year-to-date basis.