Carbon Material Manufacturer Invests USD 4.43 Million for 16.24 Per Cent stake in IBC, Advancing Li-ion Battery Materials and Clean Energy Leadership

The stock has delivered a multibagger return of 620.7 per cent over the last three years and a 27.88 per cent return in the past year.

Himadri Speciality Chemical Ltd (HSCL), a leading global speciality chemicals company, today announced a strategic investment of USD 4.43 million (approximately 37.47 crores) to acquire a 16.24 per cent stake in International Battery Company, Inc (IBC). IBC, headquartered in the U.S., is a technology developer and manufacturer of chemistry-agnostic prismatic Lithium-ion (Li-ion) cells. This investment, made through a combination of preferred and common shares, grants Himadri representation on IBC's board. This marks a significant milestone for Himadri, initiating the commercial deployment of its LFP Cathode active and anode materials.

IBC is recognised as a leader in prismatic cell technologies, which are designed for energy storage and mobility applications across global markets. The company currently operates a 50 MWh lithium-ion battery cell facility in South Korea, which commenced production in 2023. Additionally, IBC is developing a Gigafactory in Bengaluru, India, through a Joint Venture with Mahanagar Gas Limited (MGL), a subsidiary of GAIL. In this joint venture, IBC India Pvt Ltd, MGL holds a 44 per cent stake. The Bengaluru Gigafactory is projected to begin operations by Q4 FY26. Through IBC India Pvt Ltd, the company aims to play a pivotal role in India's energy transition. The Bengaluru facility will serve last-mile B2B fleet providers and 2- and 3-wheeler OEMs, while also supporting global battery cell exports.

IBC has already established its presence in the EV market, with over 500 EVs currently running satisfactorily on its battery packs. These packs utilise IBC's NMC-based Prabal 1000 (NMC-622 cathode chemistry) Li-ion cells, which are manufactured in South Korea. IBC holds an open order book for 4,300 electric 2-wheelers from six customers. The Bengaluru Gigafactory is also set to cater to the captive energy demand from MGL's vehicles. Currently, IBC is developing its LFP-based Prabal 2000, utilising Himadri's LFP cathode active and anode materials, as part of a robust product roadmap stemming from this partnership.

On the financial front, Himadri Speciality Chemical Ltd’s stock has delivered a multibagger return of 620.7 per cent over the last three years and a 27.88 per cent return in the past year. The stock traded at Rs 473.6 on May 22, 2025, with a 52-week range of Rs 323.45 to Rs 667.4. With a price-to-earnings (PE) ratio of 41.17, the company falls into the Mid-Cap category, backed by a market capitalisation of Rs 22,957 crore.

The company has also declared a final dividend of Rs 0.60 per share, with the record date set for May 23, 2025. Himadri’s major public shareholders include Narantak Dealcomm Limited (2.94 per cent), Penguin Trading & Agencies Ltd (1.89 per cent), and Subham Buildwell Private Limited (1.30 per cent), among others.

As a manufacturer of carbon materials and chemicals, Himadri serves key sectors such as lithium-ion batteries, paints, plastics, and tyres. The company reported a revenue growth of 65 per cent between FY22 and FY25, driven by a 48 per cent increase in sales volume and 12 per cent growth in revenue per metric tonne. Himadri exports to 54 countries and operates seven manufacturing sites in India, along with one in China.

The company continues to focus on innovation and sustainability, investing in a speciality carbon black facility and clean energy systems. Past acquisitions, such as Birla Tyres and Sicona Battery Technologies, further enhance its capabilities in speciality chemicals and advanced materials.

Disclaimer: The article is for informational purposes only and not investment advice.