Himadri Speciality Chemical Company is advancing its lithium-ion phosphate cathode active material project with Phase 1 execution on track. The company has set a long-term vision to produce 200,000 MTPA of LFP cathode active material in phases over the next five to six years, catering to 100 GWh of lithium-ion battery capacity. As reported by Moneycontrol, the company is set to commission a 2,000 tonnes per annum capacity by Q3 FY27, with the remaining Phase I capacity to be commissioned progressively over the next 12 months, with FY29 envisaged as the year of full operations. This development positions the company in the growing lithium-ion battery materials sector, which is crucial for India's electric vehicle and energy storage infrastructure.
The lithium-ion battery project represents a significant capacity addition for Himadri Speciality Chemical Company. The 2,000 tonnes per annum capacity will be commissioned by Q3 FY27, marking a substantial expansion in the company's battery materials production capabilities. The company has described the project as the first commercial plant for LFP cathode active material globally outside China, aimed at serving both domestic and international markets. Customer engagement has intensified with Indian and global battery manufacturers, with the company working to secure raw materials including developing a cost-optimised and environmentally friendly process for producing lithium carbonate, exploring strategic interest in phosphate mines and holding discussions with lithium miners to ensure a reliable supply of lithium concentrate.
The company's strategic focus on new battery material capacities and specialty carbon black ramp-up is supported by strong financial performance. According to Equitymaster, over the past three years, Himadri's revenue has seen 18.2% growth, while net profit grew at a CAGR of 142.2%. The company's three-year average ROE and ROCE stand at 12.9% and 19.9% respectively. Recent financial data shows revenue of ₹4,612.6 crore with net profit of ₹555.1 crore in FY26, demonstrating consistent growth trajectory. The company ended the year as a net cash company with cash of ₹121 crore, providing a strong foundation for its expansion plans.
Beyond traditional lithium-ion battery materials, Himadri Speciality Chemical is strengthening its position in next-generation battery technologies through strategic partnerships. Under an exclusive technology licensing agreement with Sicona Battery Technologies, the company has secured rights to commercialise Sicona's proprietary silicon-carbon anode technology, SiCx®, in India and global markets. Sicona has already achieved key pilot-scale milestones, with further capacity expansion targeted by Q2 FY27. This partnership positions Himadri at the forefront of emerging battery technologies, complementing its lithium-ion battery materials development and supporting both domestic and international market opportunities.
