Himadri Speciality Chemical, the country’s largest speciality carbon black maker, is accelerating its foray into the electric vehicle (EV) battery materials space, with plans to roll out its lithium iron phosphate (LFP) business in phases. The company aims to commission 2,000 MTPA (metric tonnes per annum) of LFP cathode active material capacity, with a broader roadmap to cater to nearly 100 gigawatt hours (GWh) of lithium-ion battery demand over the next five years.

To support this ambition, the Kolkata-headquartered company is advancing execution of phase I of its LFP cathode active material project, with the first milestone capacity of 2,000 MTPA targeted for commissioning by Q3 FY27.

“Execution of phase I of our LFP cathode active material project is progressing as planned, with the first milestone capacity of 2,000 MTPA targeted for commencement by Q3 FY27,” said Anurag Choudhary, Chairman and CEO, Himadri Speciality Chemicals.

He added that the remaining Phase I capacity will be rolled out in phases over the following 12 months, aligned with customer approvals, with FY29 envisaged as the year of full-scale operations.

To ramp up carbon black capacity at Mahistikry plant

Beyond its LFP push, Himadri strengthened its position in the speciality chemicals segment by commissioning a 70,000 MTPA speciality carbon black line at its Mahistikry facility in West Bengal. This takes the company’s total carbon black capacity to 250,000 MTPA, making Mahistikry the world’s largest single-location speciality carbon black facility and placing Himadri among the top five global manufacturers in the segment.

“This positions Mahistikry as the world’s largest single-location speciality carbon black facility and significantly strengthens our ability to serve high-value applications across batteries, plastics, inks, paints, coatings, and conductive solutions,” Choudhary said.

FY26 was a milestone year for the company, marked by record financial performance across key metrics. Himadri reported its highest-ever EBITDA of ₹1,006 crore, up around 19% year-on-year, while profit before tax rose 24% to ₹1,001 crore and profit after tax surged 36% to ₹755 crore.

The strong annual performance was backed by a robust March quarter, with EBITDA, PBT, and PAT for Q4 FY26 rising to ₹280 crore, ₹268 crore, and ₹208 crore, respectively, reflecting healthy double-digit growth over the year-ago period.

Looking ahead, the company has outlined a strategic roadmap focused on high-value growth, diversification, and sustained improvement in profitability over the next two years. The plan centres on scaling its core business while monetising investments made in recent years to drive revenue and margin 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,” Choudhary said.

In the current financial year, Himadri aims to achieve full-year utilisation of its expanded speciality carbon black capacity, ramp up Birla Tyres, and enter high-margin segments such as off-highway tyres (OHT) and commercial vehicles (CV). In its core chemicals business, the company is also moving towards forward integration with plans to commission anthraquinone and carbazole facilities by the second quarter of the year.

“The commencement of our anthraquinone and carbazole facility is on track and will meaningfully reduce India’s dependence on imports in dyes and pigments. We remain focused on disciplined capital allocation to drive sustainable returns and maintain a robust ROCE profile,” Choudhary added.

By FY28, Himadri expects full-year operations from its expanded carbon black capacity and new speciality chemical lines, alongside entry into the passenger car radial (PCR) tyre segment, including products for the growing EV and SUV categories. The company also anticipates higher revenue contribution from its LFP cathode active material business and full-scale operations in its naphthalene segment, positioning it for its next phase of growth.