Kolkata-based Himadri Speciality Chemical Limited (HSCL), a diversified player in speciality chemicals and advanced materials, has posted its highest-ever revenue and profit for the financial year. The company, which has expanded into battery materials, tyres, and import-substitution chemicals, now aims to more than double its profits by FY28 through capacity expansions, purposeful innovation, and disciplined capital allocation amid a buoyant Indian speciality chemicals market.
According to its annual report and recent financial disclosures, HSCL reported robust performance in FY25, with sales volumes rising 16% to 5,52,206 metric tonnes. Net profit grew over 35% year-on-year to around Rs 555 crore, supported by improved margins in speciality segments.
“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. This integrated approach is driving steady progress across our strategic pillars,” Anurag Choudhary, Chairman and CEO, Himadri Speciality Chemicals said.
Industry reports underscore the favourable backdrop for such strategies. The Indian speciality chemicals market, valued at around $67 billion in 2025, is projected to reach $93.4 billion by 2034, expanding at a CAGR of approximately 3.65–8.7% depending on the source, fuelled by domestic industrial demand, export opportunities, and government push for self-reliance in critical sectors.
In the current financial year, the company plans to fully utilise its expanded capacity in speciality carbon black. It also aims to increase production at Birla Tyres – acquired earlier – and enter the higher-margin off-highway tyres (OHT) and commercial vehicle (CV) segments.
“The commencement of our upcoming anthraquinone and carbazole facility is on track in the coming quarters and will meaningfully reduce India’s dependence on imports across dyes and pigments. The Company has decided to remain firmly focused on disciplined capital allocation to drive sustainable returns and maintain a robust ROCE profile,” Choudhary added.
Analysts and recent updates note that these forward-integration moves in intermediates like anthraquinone and carbazole align with national goals to cut import dependence in dyes, pigments, and related value chains, supporting broader chemical sector ambitions outlined in reports by bodies like NITI Aayog.
By the third quarter of FY27, the company expects the first phase of its commercial plant for LFP (lithium iron phosphate) cathode active material to start operations. This forms part of a larger push into lithium-ion battery materials, with plans targeting supply for nearly 100 GWh of batteries over the coming years through phased investments, including a significant facility in Odisha. It also has strong plans to grow its Durofresh brand of naphthalene balls.
Looking ahead to FY28, Himadri expects a full year of operations from its expanded carbon black capacity — which has been doubled in speciality grades — and the two speciality chemicals facilities. It also plans to enter the passenger car radial (PCR) tyre segment, including tyres for fast-growing EV and SUV markets, through Birla Tyres.
At the same time, the company expects higher revenue from its LFP cathode material plant and full-scale operations in its naphthalene balls business. These initiatives position Himadri to capitalise on the intersection of electric mobility, speciality materials, and import substitution, even as it navigates competition in global battery supply chains dominated by established players.