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Kolkata-based speciality chemicals company Himadri Speciality Chemical expects its battery materials business to become a major growth driver over the next five to six years, with plans to generate more than ₹30,000 crore in annual revenue at full capacity, Chairman & Managing Director Anurag Choudhary said.
The company is expanding its presence across the battery materials value chain by increasing its stake in US-based International Battery Company (IBC) to 20.47% and investing in cathode and anode materials. Choudhary said battery materials will begin contributing to earnings from the financial year 2028-29 (FY29), while the company continues to scale manufacturing capacity in phases.
"If you look at battery space, it is one of the largest opportunities, which is coming for the next decade," Choudhary said, adding that Himadri has spent the last 10 years developing products for both anode and cathode chemistries.
The company plans to establish 200,000 metric tonne of lithium iron phosphate (LFP) cathode material capacity and will soon announce capital expenditure for anode materials. Together, the facilities are targeted to reach 100 gigawatt (GWh) of capacity.
According to Choudhary, the battery materials business could generate more than ₹30,000 crore in revenue once the planned capacity is fully operational.
"Over a period of five to six years, we expect to achieve this full capacity of cell components," he said.
Himadri estimates that its initial 40,000-tonne LFP facility could generate revenue of around ₹3,000 crore. The company said 2027-28 (FY28) profit guidance of ₹1,100 crore is primarily supported by its existing businesses, while battery materials will begin making a meaningful contribution from 2028-29 after a full year of operations.
Choudhary said battery materials offer better economics than commodity
chemicals because the products are developed for specific customers and battery chemistries.
"It's not a commodity which you can buy from any market," he said. "These are specifically developed products for a particular chemistry and for a particular customer."
The investment in International Battery Company also strengthens Himadri's position in the battery ecosystem. Choudhary said the partnership has already validated the company's cathode and anode materials at commercial scale, with IBC using Himadri's materials in its Prabal battery cell platform.
While Choudhary declined to provide margin guidance, he said the company remains focused on businesses capable of delivering a return on capital employed (ROCE) of over 30%, with battery materials expected to support that strategy.
For the full interview, watch the accompanying videoCatch all the latest updates from the stock market here
The company is expanding its presence across the battery materials value chain by increasing its stake in US-based International Battery Company (IBC) to 20.47% and investing in cathode and anode materials. Choudhary said battery materials will begin contributing to earnings from the financial year 2028-29 (FY29), while the company continues to scale manufacturing capacity in phases.
"If you look at battery space, it is one of the largest opportunities, which is coming for the next decade," Choudhary said, adding that Himadri has spent the last 10 years developing products for both anode and cathode chemistries.
The company plans to establish 200,000 metric tonne of lithium iron phosphate (LFP) cathode material capacity and will soon announce capital expenditure for anode materials. Together, the facilities are targeted to reach 100 gigawatt (GWh) of capacity.
According to Choudhary, the battery materials business could generate more than ₹30,000 crore in revenue once the planned capacity is fully operational.
"Over a period of five to six years, we expect to achieve this full capacity of cell components," he said.
The company's current market capitalisation is ₹34,503.08 crore. The stock has gained more than 49% over the last year.
Himadri estimates that its initial 40,000-tonne LFP facility could generate revenue of around ₹3,000 crore. The company said 2027-28 (FY28) profit guidance of ₹1,100 crore is primarily supported by its existing businesses, while battery materials will begin making a meaningful contribution from 2028-29 after a full year of operations.
Choudhary said battery materials offer better economics than commodity
"It's not a commodity which you can buy from any market," he said. "These are specifically developed products for a particular chemistry and for a particular customer."
The investment in International Battery Company also strengthens Himadri's position in the battery ecosystem. Choudhary said the partnership has already validated the company's cathode and anode materials at commercial scale, with IBC using Himadri's materials in its Prabal battery cell platform.
While Choudhary declined to provide margin guidance, he said the company remains focused on businesses capable of delivering a return on capital employed (ROCE) of over 30%, with battery materials expected to support that strategy.
For the full interview, watch the accompanying videoCatch all the latest updates from the stock market here
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