Himadri Q1 boosts Rs 240-cr capex for advanced materials expansion

Himadri Speciality Chemical posted record quarterly revenue, Ebitda and profit, and unveiled Rs 240 crore of capex to expand its advanced materials and battery ecosystem

Himadri Speciality Chemical Ltd has reported its highest-ever quarterly revenue, Ebitda and profit after tax for the quarter ended June 30, with strong growth driven by a favourable product mix, continued expansion in speciality materials, and the ramp-up of its new energy materials business.

 

The company's consolidated revenue from operations rose 28 per cent year-on-year to ₹1,432 crore in Q1FY27, compared with ₹1,118 crore in the corresponding quarter of the previous financial year. Ebitda increased 33 per cent to ₹313 crore from ₹235 crore, while profit after tax (PAT) grew 27 per cent to ₹228 crore from ₹179 crore. The company reported an Ebitda margin of 22 per cent and a PAT margin of 16 per cent.

 

 

Commenting on the performance, Anurag Choudhary, chairman, managing director and chief executive officer (CMD & CEO) of Himadri Speciality Chemical, attributed the growth to an improved product mix across the core businesses, continued ramp-up of speciality materials, the company's diversification strategy, and its shift towards higher-margin, technology-intensive products.

 

The company has also announced a series of expansion initiatives to strengthen its position in advanced materials and the energy transition ecosystem. Himadri has successfully developed indigenous carbon nanotube (CNT) technology through its in-house research and development efforts and plans to establish a 200-tonne-per-annum (tpa) CNT manufacturing facility with an estimated investment of around ₹70 crore. The facility is targeted for commissioning in the fourth quarter of FY27.

 

CNTs are used in a range of high-growth applications, including lithium-ion batteries, electronics, semiconductors, conductive films, sensors, advanced composites, coatings, construction and aerospace. The planned facility is expected to place Himadri among a select group of global manufacturers in the emerging CNT market.

 

The company is also entering the premium speciality carbon black segment. It has planned to convert 6,000 tpa from its existing carbon black stream into super speciality carbon black, catering to niche applications such as lithium-ion batteries, engineered plastics, fabrics, fibres, coatings and conductive materials. "The project, involving an estimated capex of ₹170 crore, is targeted for commissioning in Q4FY28," Choudhary said.

 

Himadri is simultaneously scaling up its presence across the lithium-ion battery materials value chain. On the anode side, it commissioned a 200 tpa facility at Mahistikry in West Bengal in April 2026, backed by more than a decade of in-house research and development.

 

The company is also entering the lithium iron phosphate (LFP) cathode active materials segment, which is increasingly being adopted for mass-market electric vehicles, buses, two-wheelers and grid storage because of its safety, thermal stability, cycle life and cost advantages.

 

Its 2,000 tpa commercial LFP cathode active materials facility is targeted for commissioning in Q3FY27, while the company has set a long-term ambition of establishing a 200,000 tpa facility, beginning with a first phase of 40,000 tpa capacity.

 

Himadri also strengthened its strategic investments in the battery materials ecosystem during the quarter. Sicona, in which the company is a strategic investor, secured AUD 45 million (around ₹300 crore) in funding from the Australian Renewable Energy Agency to accelerate the commercialisation of its next-generation silicon-carbon anode technology. Himadri also increased its stake in International Battery Company from 17.29 per cent to 19.44 per cent.

 

Meanwhile, its tyre business, Birla Tyres at Balasore in Odisha, continued to make progress with its turnaround strategy. The business expanded its market network to 49 distributors, including 40 domestic and nine international partners, and more than 1,000 dealers.

 

The company has launched new agricultural tyre sizes and plans to introduce nearly 400 additional stock-keeping units (SKUs) across the agricultural, commercial vehicle, truck and bus segments. It will soon enter the passenger car radial segment, particularly in the electric vehicle and sport utility vehicle (SUV) categories, with a dedicated facility targeted for commissioning in FY28.

 

Himadri's core speciality carbon black and coal tar pitch businesses continued to provide the foundation for its growth strategy. It has made significant progress on its anthraquinone and carbazole project, which will have a total planned capacity of 5,300 tpa. Phase I, with a capacity of 2,600 tpa, is targeted for commissioning in Q2FY27, while the remaining 2,700 tpa under Phase II is scheduled for Q2FY28. The project is expected to help reduce India's dependence on imports of key materials used in dyes and pigments.

 

"The company will continue to focus on scaling its global advanced materials and application-driven solutions while strengthening its core businesses. It is set to benefit from the global shift towards advanced and sustainable materials through its integrated value chain, technology-led approach and disciplined execution," Choudhary added.