Himadri Speciality Chemical Ltd is pioneering Innovation and Sustainable Growth in Cathode Material Landscape

Himadri Speciality Chemical, a global speciality chemical conglomerate is bringing breakthrough innovation to the Global LiB Industry by announcing India’s first-ever commercial plant for Lithium Iron Phosphate (LFP) Cathode Active Material. The company has a vision to produce 200,000 MTPA of Lithium Iron Phosphate (LFP) Cathode Active Material, catering to 100 GWh of Li-ion Battery, in phases over the next 5-6 years. 

Phase I of the capacity expansion will be of 40,000 MTPA at an estimated cost of Rs. 1,125 Crores and to be operational in 27 to 36 months at Odisha. The capex will be funded largely through internal accruals and balance from debt. At full utilization of 40,000 MT, the company expects to generate a revenue of ~4X the capex with a very strong profitability and returns profile. 

Cathode materials are critical components required in the production of Lithium-ion cells that constitute 50-55% of the cell cost, with LFP being one of the predominant materials used in the manufacturing of LiB Cells. Cathode Material demand is expected to increase to 9.4 million tonnes annually by 2030 to meet the required global production of LiB cells. 

Himadri is present in critical part of the high growth LiB value chain at the right time when the industry is at the inflection point to achieve carbon free revolution. 

Commenting on the breakthrough innovation Mr. Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical Ltd said, “I am immensely pleased to announce the momentous achievement of Himadri Speciality Chemical to pioneering Innovation and Sustainable Growth in Cathode Material Landscape. This is in line with our sustainability goals to contribute to Global & Domestic Carbon-Neutral Revolution.