Himadri Speciality Chemical Ltd. is embarking on a significant expansion, diversifying beyond its traditional carbon materials business into high-growth sectors: electric vehicle (EV) battery materials, speciality chemicals, and tyre manufacturing. This strategic shift aims to establish new revenue engines for the company by fiscal year 2028.
Strategic Pillars for Future Growth
The company's annual report outlines an aggressive plan to scale up operations in several key areas, with a strong emphasis on products supporting electric mobility and initiatives for import substitution in India. Himadri's growth strategy is centered on developing high-value products, expanding its diversification, and enhancing overall profitability.
Advancing in EV Battery Materials
A cornerstone of Himadri's expansion is its foray into lithium-ion battery materials. The first phase of its lithium iron phosphate (LFP) cathode active material plant is projected to commence operations by the third quarter of FY27. This move positions Himadri to supply critical materials for EV batteries and energy storage systems. Furthermore, the company has already commissioned its anode material facility, reinforcing its commitment to the burgeoning battery materials market.
“As we look ahead, growth at Himadri continues to be shaped by purposeful innovation, with R&D embedded at the core of our strategy, business model and culture. This integrated approach is driving steady progress across our strategic pillars,” stated Anurag Choudhary, chairman and chief executive officer of Himadri Speciality Chemical Ltd.
Boosting Speciality Chemicals Production
In its chemicals division, Himadri is establishing new facilities for anthraquinone and carbazole, with completion expected by the second quarter of the current financial year. These vital chemicals are used in the production of dyes and pigments, and their domestic manufacturing is set to significantly reduce India’s reliance on imports.
Choudhary emphasized, "The commencement of our upcoming anthraquinone and carbazole facility is on track in the coming quarters and will meaningfully reduce India’s dependence on imports across dyes and pigments." He added that the company remains focused on disciplined capital allocation to ensure sustainable returns and a robust Return on Capital Employed (ROCE) profile.
Expanding Tyre Manufacturing Operations
Himadri is also scaling up its Birla Tyres business. For the current financial year, the company plans full-year operations from its expanded speciality carbon black capacity. Looking ahead, Birla Tyres intends to enter the off-highway tyre and commercial vehicle tyre segments, and by FY28, it plans to introduce passenger car radial tyres, including those designed for electric vehicles and SUVs.
Financial Performance and Future Outlook
According to its latest financial results announced in April 2026, Himadri Speciality Chemical reported strong performance for FY26. Revenue from operations reached ₹4,660.7 crore, with EBITDA surpassing ₹1,000 crore to hit ₹1,006 crore. Net profit saw a substantial 36% year-on-year increase, reaching ₹755 crore. The company anticipates significant revenue contributions from its expanded carbon black capacity, speciality chemicals business, and battery materials operations by FY28.