Himadri Speciality Chemical reported Q2 consolidated revenue of Rs 1,691 crore, up 58% year on year, while profit after tax rose 31% to Rs 231 crore. The company, which makes carbon black and advanced materials for lithium-ion batteries, saw margins narrow as ramp-up costs for new plants weighed on earnings. The growth story is tied to India's shift toward electric mobility and local battery production. Himadri operates the world's largest single-location speciality carbon black site and has started a 200-tonne anode material plant. LFP cathode and carbon nanotube facilities are expected in the next two quarters, positioning the company in the domestic battery supply chain. The company says it runs on clean power and operates zero liquid discharge plants. For investors tracking energy storage and low-carbon industry, the key question is how quickly the new battery material capacity scales relative to its core carbon black business.
