Himadri plans a 100 GWh Manufacturing Facility as part of its ambitious strategy to become a major player in the global electric vehicle (EV) battery materials market. The specialty chemicals manufacturer has announced plans to establish India’s largest battery materials manufacturing facility for cathode and anode materials, two of the most critical components used in lithium-ion EV batteries.
The proposed project is expected to generate an additional ₹30,000 crore in revenue over the next five years, highlighting the company’s confidence in the rapidly growing EV ecosystem and battery manufacturing sector.
India’s Largest Battery Materials Facility in the Making
The Himadri Plans 100 GWh Manufacturing Facility project will focus on producing cathode and anode materials at a commercial scale to support the increasing demand for electric vehicle batteries. The company is currently finalizing the capital expenditure for the project and is expected to make a detailed announcement in the coming weeks.
To prepare for large-scale production, Himadri has already commissioned a 400-tonne pilot plant, which is expected to help validate the technology and ensure smooth operations once the commercial facility becomes operational.
Growing Global Demand Creates Long-Term Opportunity
According to the company, global demand for battery materials is expected to increase significantly by 2030. The battery materials market, currently estimated at around 2 TWh, is projected to expand to nearly 5 TWh by the end of the decade.
This growth is expected to create demand for more than 10 million tonnes of cathode materials and 5 million tonnes of anode materials. With operations planned in both segments, Himadri plans a 100 GWh Manufacturing Facility to capitalize on this rising global demand and strengthen its position in the battery materials value chain.
Chairman and CEO Anurag Choudhary said the battery industry represents one of the biggest opportunities of the next decade. He noted that after the electronics and solar revolutions, the EV revolution is expected to drive massive demand for raw materials required in battery cell manufacturing.
LFP Cathode Plant to Boost Future Revenue
In addition to the 100 GWh project, Himadri had previously announced plans to establish a Lithium Iron Phosphate (LFP) Cathode Active Material plant with an initial production capacity of 40,000 metric tons, which will later be expanded to 200,000 metric tons.
The company expects the plant to begin full-year commercial operations in FY29, contributing significantly to revenue growth and profitability.
Market expert Ambareesh Baliga described the LFP project as a major long-term growth driver. He stated that it is expected to become the first LFP Cathode Active Material facility outside China, with the potential to generate another ₹30,000 crore in revenue. He added that rising global EV adoption and growing focus on energy security are likely to accelerate demand for LFP battery materials.
Strong Stock Performance Reflects Investor Confidence
Investor sentiment towards Himadri has remained positive in recent months. After remaining largely range-bound for nearly 18 months, the company’s shares witnessed a sharp rally beginning in April. The stock gained 38% in April, continued its upward momentum in May, and added another 12% in June, delivering an overall return of more than 53% in less than three months.
During this period, the stock touched a new all-time high of ₹718. Earlier, between March 2023 and September 2024, the company had delivered an impressive gain of nearly 700%, making it one of the strongest wealth creators in the Indian stock market.
Technical analysts believe the stock remains in a strong uptrend after breaking out of a prolonged consolidation phase. Experts suggest that any correction towards the ₹650 level could present a buying opportunity, with an upside target of around ₹725.
Outlook
With Himadri Plans a 100 GWh Manufacturing Facility, the company is positioning itself at the centre of India’s rapidly expanding EV battery ecosystem. Combined with its LFP cathode expansion plans and growing global demand for battery materials, the project has the potential to transform Himadri into one of the leading suppliers of advanced battery materials while supporting India’s clean mobility and energy transition goals.
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