Himadri Speciality Chemicals Ltd plans to invest Rs 1,613 crore across lithium iron phosphate, speciality chemicals, carbon nanotubes and super speciality carbon black as it seeks to expand its materials businesses and strengthen its position in energy-transition and industrial applications.
The proposed investment includes Rs 1,125 crore for lithium iron phosphate (LFP), Rs 248 crore for speciality chemicals, Rs 70 crore for carbon nanotubes and Rs 170 crore for super speciality carbon black, according to the company’s investor presentation for the July-September quarter. The projects will include a mix of greenfield and brownfield expansion and are expected to be completed by the fourth quarter of the next financial year.
Chairman and CEO Anurag Choudhary said the company was building “the materials backbone for the energy transition economy” through continued investment, execution and scaling. Himadri said the expansion would support its plans to diversify towards higher-value products and applications while improving margins and accelerating profit growth.
The company is organising its operations around three verticals: commodities, speciality chemicals and new energy materials. Its stated strategy includes developing a global presence in battery materials, expanding high-performance speciality carbon black, entering more end-use segments and becoming one of the top three global coal tar pitch suppliers outside China.
The speciality chemicals expansion covers products used across industrial, construction, pharmaceutical and other applications. Himadri has a nearly 67 per cent share of the domestic naphthalene market. Naphthalene is used in dyes, resins and agrochemical intermediates, while consumer applications include naphthalene balls sold under the Durofresh brand.
Himadri has also launched anthraquinone, a speciality chemical used in dyes, pigments and pulping catalysts, with applications in pharmaceuticals and agrochemical intermediates. The company said the product could support import substitution and exports. Its sodium naphthalene formaldehyde and polycarboxylate ether businesses serve traditional industrial demand as well as the construction chemicals market.
The company has established what it described as India’s first commercial carbazole plant. Carbazole is used in pharmaceuticals, electronics and dye manufacturing. The planned LFP and carbon nanotube investments are intended to strengthen Himadri’s new energy materials business, while the speciality chemicals and carbon black projects are aimed at expanding its existing operations and higher-value product offerings.
Choudhary said Himadri was shifting towards high-value growth and that its diversification was intended to improve business resilience and support sustainable profitability over the next two years. The company’s stated completion milestone for the proposed projects is the fourth quarter of the next financial year.
