Himadri Speciality Chemical Ltd. has outlined a ₹1,613 crore expansion across four businesses, allocating most of the spending to lithium iron phosphate as it targets operating milestones through Q4 FY28.
The company’s investor presentation, filed Oct. 17 for the quarter ended Sept. 30, 2026, divides the spending among lithium iron phosphate (LFP), speciality chemicals, carbon nanotubes (CNT) and super speciality carbon black. It describes the projects as self-funded.
The plan assigns ₹1,125 crore to LFP, with stated annual capacity of 40,000 metric tons. Speciality chemicals receive ₹248 crore for 5,300 metric tons a year, while CNT receives ₹70 crore for 200 metric tons. Super speciality carbon black has a ₹170 crore allocation and a 6,000-metric-ton annual target. The speciality chemicals roadmap identifies anthraquinone and carbazole as products in that expansion.
The project table places an initial LFP milestone of 2,000 metric tons per year in Q3 FY27. A separate roadmap slide targets a 40,000-metric-ton Phase 1 commercial LFP plant for the same quarter, but the presentation does not explain how the two targets fit together. It targets operational commencement for speciality chemicals and CNT in Q4 FY27, followed by super speciality carbon black in Q4 FY28.
Himadri classifies the LFP and CNT projects as greenfield, while the speciality chemicals and super speciality carbon black expansions are brownfield. The company frames the investments as part of a broader effort to develop advanced materials and battery products alongside its coal-tar business. Its presentation also sets an ambition to rank among the three largest coal-tar pitch suppliers outside China. Chairman, Managing Director and CEO Anurag Choudhary described the approach as “execute, reinvest, and scale again.”
Among the four expansion projects, the latest listed commencement target is Q4 FY28, for super speciality carbon black.
