Why Himadri Specialty is betting big on EV battery materials and speciality chemicals
Himadri plans to expand lithium-ion battery material production, import substitution chemicals, and tyre operations as it looks to build new growth engines by FY28
- May 3, 2026,
- Updated May 3, 2026 11:23 AM IST
Himadri Speciality Chemical Ltd is expanding its presence in electric vehicle battery materials, speciality chemicals and tyre manufacturing as the company looks to diversify beyond its traditional carbon materials business and build new revenue streams over the next two years.
In its annual report, the company outlined plans to scale up operations in lithium-ion battery materials, speciality carbon black, downstream speciality chemicals and tyres by FY28, with a focus on products linked to electric mobility and import substitution. The company said its growth strategy is centred on high-value products, diversification and profitability expansion.
Don't Miss: Buying an EV? Why basement charging could become a headache
The company expects the first phase of its lithium iron phosphate (LFP) cathode active material plant to become operational by the third quarter of FY27 as it expands into materials used in lithium-ion batteries for electric vehicles and energy storage systems. Himadri has also commissioned its anode material facility as part of its battery materials business expansion.
“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,” said Anurag Choudhary, chairman and chief executive officer of Himadri Speciality Chemical Ltd.
For the current financial year, the company plans full-year operations from its expanded speciality carbon black capacity. It is also scaling up Birla Tyres and plans to enter the off-highway tyre and commercial vehicle tyre segments.
In its chemicals business, Himadri is setting up anthraquinone and carbazole facilities, which are expected to be completed by the second quarter of the current financial year. The products are used in dyes and pigments manufacturing and are aimed at reducing India’s dependence on imports.
"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. The company has decided to remain firmly focused on disciplined capital allocation to drive sustainable returns and maintain a robust ROCE profile," Choudhary said.
Alongside this, the company plans to expand its Durofresh naphthalene balls business. By FY28, Himadri also plans to enter the passenger car radial tyre segment, including tyres for electric vehicles and SUVs, through Birla Tyres. The company expects revenue contribution from its expanded carbon black capacity, speciality chemicals business and battery materials operations by then.
According to the company's latest financial results announced in April 2026, revenue from operations for FY26 stood at ₹4,660.7 crore. EBITDA crossed ₹1,000 crore to reach ₹1,006 crore, while net profit rose 36% year-on-year to ₹755 crore.
Himadri Speciality Chemical Ltd is expanding its presence in electric vehicle battery materials, speciality chemicals and tyre manufacturing as the company looks to diversify beyond its traditional carbon materials business and build new revenue streams over the next two years.
In its annual report, the company outlined plans to scale up operations in lithium-ion battery materials, speciality carbon black, downstream speciality chemicals and tyres by FY28, with a focus on products linked to electric mobility and import substitution. The company said its growth strategy is centred on high-value products, diversification and profitability expansion.
Don't Miss: Buying an EV? Why basement charging could become a headache
The company expects the first phase of its lithium iron phosphate (LFP) cathode active material plant to become operational by the third quarter of FY27 as it expands into materials used in lithium-ion batteries for electric vehicles and energy storage systems. Himadri has also commissioned its anode material facility as part of its battery materials business expansion.
“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,” said Anurag Choudhary, chairman and chief executive officer of Himadri Speciality Chemical Ltd.
For the current financial year, the company plans full-year operations from its expanded speciality carbon black capacity. It is also scaling up Birla Tyres and plans to enter the off-highway tyre and commercial vehicle tyre segments.
In its chemicals business, Himadri is setting up anthraquinone and carbazole facilities, which are expected to be completed by the second quarter of the current financial year. The products are used in dyes and pigments manufacturing and are aimed at reducing India’s dependence on imports.
"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. The company has decided to remain firmly focused on disciplined capital allocation to drive sustainable returns and maintain a robust ROCE profile," Choudhary said.
Alongside this, the company plans to expand its Durofresh naphthalene balls business. By FY28, Himadri also plans to enter the passenger car radial tyre segment, including tyres for electric vehicles and SUVs, through Birla Tyres. The company expects revenue contribution from its expanded carbon black capacity, speciality chemicals business and battery materials operations by then.
According to the company's latest financial results announced in April 2026, revenue from operations for FY26 stood at ₹4,660.7 crore. EBITDA crossed ₹1,000 crore to reach ₹1,006 crore, while net profit rose 36% year-on-year to ₹755 crore.