Himadri Speciality Chemical Ltd has reported record quarterly revenue, EBITDA, and profit after tax for the period ending June 30. This growth is attributed to a favorable product portfolio, ongoing expansion in specialty materials, and the activation of business in new energy materials.
The company's consolidated operating revenue grew by 28% year-on-year, reaching 1,432 crore rupees in the first financial quarter of 2027, compared to 1,118 crore rupees in the same period last year. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 33%, amounting to 313 crore rupees versus 235 crore rupees. Profit After Tax (PAT) showed a growth of 27%, rising to 228 crore rupees from 179 crore rupees. The company recorded an EBITDA margin of 22% and a PAT margin of 16%.
Commenting on these achievements, Anurag Chaudhary, Chairman, Managing Director, and CEO of Himadri Speciality Chemical, explained the growth as a result of improved product mix across key segments, continuous scaling up of specialty material production, strategic diversification, and a shift towards more technologically intensive, high-margin products. The company announced several initiatives to strengthen its position in the advanced materials ecosystem and the energy transition.
Himadri successfully developed its own carbon nanotube (CNT) technology through internal research and development. A CNT production complex with a capacity of 200 tons per year is planned, with estimated investments of about 70 crore rupees, scheduled to launch in the fourth quarter of the 2027 financial year. CNTs are used in various fast-growing areas, including lithium-ion batteries, electronics, semiconductors, conductive films, sensors, composite materials, coatings, construction, and aerospace industries. The new plant is expected to position Himadri among global producers in the developing CNT market.
Furthermore, the company is entering the premium specialty carbon black pigment market. It plans to convert 6,000 tons per year of existing carbon black pigment flow into super-specialty carbon black pigment to meet the needs of niche applications such as lithium-ion batteries, engineering plastics, textiles, fibers, coatings, and conductive materials. Chaudhary stated that this project, requiring capital expenditure of 170 crore rupees, is scheduled to be commissioned in the fourth quarter of the 2028 financial year.
In parallel, Himadri is increasing its presence in the value chain of lithium-ion battery materials. In April 2026, a 200 tons per year facility was launched in Mahishkriti, West Bengal, for the anode segment, which is the result of over ten years of internal R&D. The company is also involved in the cathode active material segment based on lithium iron phosphate (LFP), which is increasingly used in mass-market electric vehicles, buses, two-wheelers, and energy storage systems due to advantages in safety, thermal stability, lifespan, and cost. A commercial facility for LFP cathode active materials with a capacity of 2,000 tons per year is planned to start in the third quarter of the 2027 financial year, with the company's long-term goal being to establish a 200,000 tons per year facility, starting with a 40,000 tons phase.
During the quarter, Himadri also strengthened its strategic investments in the battery materials ecosystem. As a strategic investor in Sicona, the company helped it attract funding of 45 million Australian dollars (approximately 300 crore rupees) from the Australian Renewable Energy Agency to accelerate the commercialization of next-generation silicon-carbon anode technology. Additionally, Himadri increased its stake in International Battery Company from 17.29% to 19.44%. Meanwhile, its tire business, Birla Tyres in Balasore, Odisha, continued its recovery strategy. The business expanded its network to 49 distributors, including 40 domestic and nine international partners, as well as over 1,000 dealers. The company launched new sizes of agricultural tires and plans to introduce nearly 400 additional Stock Keeping Units (SKUs) in the agricultural machinery, commercial vehicle, truck, and bus segments. It will soon enter the radial tire market for passenger cars, especially in the electric vehicle and sports SUV categories, with a dedicated facility planned for commissioning in the 2028 financial year.
The company's core businesses—specialty carbon black pigment and coke syrup—continue to form the foundation of its growth strategy. Significant progress has been made in the anthraquinone and carbazole project, with a total planned capacity of 5,300 tons per year. The first phase, with a capacity of 2,600 tons, is scheduled to start in the second quarter of the 2027 financial year, and the remaining 2,700 tons of the second phase are slated for the second quarter of the 2028 financial year. This project is expected to help reduce India's dependence on imports of key materials used in dyes and pigments. Chaudhary added that the company will continue to focus on scaling its global advanced materials and application-oriented solutions while strengthening its core businesses. He noted that the company will benefit from the global transition to advanced and sustainable materials due to its integrated value chain, technological approach, and disciplined execution.
Senra Systems has successfully raised $65 million in a Series B funding round. These funds will be used to scale its software-driven manufacturing platform designed for wire harness production. The investment will allow the company to open a third production facility, which is necessary to meet growing demand from the aerospace and defense industries.
The funding round was co-led by Lowercarbon Capital and Interlagos. General Catalyst, Sequoia Capital, Andreessen Horowitz, Founders Fund, 8VC, CIV, Dylan Field, The Friedkin Group, Jaws Estates Capital, Sozo Ventures, and Alumni Ventures also participated.
CEO and co-founder Jordan Black noted that wire harnesses remain one of the most undervalued bottlenecks in manufacturing for the aerospace and defense industry, despite being critical components in advanced aircraft, satellites, launch vehicles, and defense systems.
Senra produces complex wire harness systems that provide power, communication, and data distribution across all aerospace and defense platforms. Their platform helps reduce manual operations, accelerates adaptation, and increases production stability.
The company's manufacturing operations are based on Amp—Senra's proprietary software platform. This system integrates engineering, calculations, supply chain management, production planning, and manufacturing workflows into a single digital environment.
Earlier this year, Senra opened its second manufacturing site in Cypress, which increased its production base fivefold. This 80,000 square foot facility is expected to help the company increase its monthly production capacity from approximately 1,000 wire harnesses to around 10,000 by next year.
The demand for wire harnesses has significantly increased amid rising government investments in aerospace and defense programs. Nevertheless, the industry continues to face labor shortages and production constraints. Senra aims to solve these issues by combining software automation with structured personnel training programs. The company is creating an integrated manufacturing solution capable of supporting the aerospace, defense, energy, and computing sectors.
Lowercarbon Capital General Partner Kai Lee stated that wire harnesses form the basis of virtually every advanced electronic platform, making manufacturing automation vital for expanding industrial potential.
The company has strengthened its leadership team by appointing Ken Wenner as Chief Technology and Product Officer. Wenner previously served as Director of Information Technology at SpaceX, where he oversaw corporate systems and the development of manufacturing infrastructure. He managed technologies supporting SpaceX's production operations and launch infrastructure across numerous advanced aerospace programs.
At Senra, Wenner will be responsible for the company's manufacturing platform, operating systems, and long-term technology roadmap. He will guide the technological strategy during the company's preparation for the next phase of business expansion. The company believes that software, automation, and workforce development will strengthen domestic manufacturing capabilities in critical industries.
E3 Electric.Ai, a Bangalore-based company developing AI-powered electric scooters, has successfully raised 100 crore rupees in a Series A funding round that included equity and debt financing.
The global venture firm BluVenture Holdings served as the lead investor. The capital raised will be used to accelerate product innovation, strengthen research and development, and expand the company's presence in the Indian market ahead of the commercial launch of the E3 TRION scooter.
This funding comes as the Indian two-wheeler EV market enters a new phase of development. While earlier growth was driven by the shift from gasoline to electric vehicles, competition is now increasingly focused on software, connected technologies, and AI. These features are intended to improve safety, maintenance, and the overall ownership experience of the vehicle.
E3 Electric.Ai, founded in Bangalore, develops modular electric scooters, allowing for the creation of various models based on a single platform. The company stated that its patented AI system can monitor vehicle health, support predictive maintenance by identifying potential issues before they escalate, and provide intelligent route planning to reduce range anxiety.
The startup has formed a team of over 100 engineers and researchers and has filed more than 18 patent applications covering battery systems, modular architecture, and AI-based safety technologies.
Founder and CEO P. Sanjeev believes that electric vehicles should 'predict, learn, and continuously improve,' making mobility safer, more reliable, and more accessible over time. According to Sanjeev, the company's modular platform allows for the development of numerous scooter variants on one chassis, while the AI capabilities are designed to enhance maintenance and driver confidence.
BluVenture Holdings views India as a significant opportunity, given it is the world's largest two-wheeler transport market. Shaun Dawson, an LP partner at BluVenture Holdings, noted that India is at a 'turning point' in its transition to electric mobility and highly praised E3's combination of modular engineering and software intelligence for the country's scooter market.
The mobility sector in India continues to attract investment despite increasing competition. This week, Hero MotoCorp approved investments of up to 1000 crore rupees in Ather Energy, an electric scooter manufacturer whose shares are listed on the stock exchange, indicating sustained investor confidence in the segment. Previously, Bangalore-based Ultraviolette Automotive received 404 crore rupees to expand its portfolio of electric motorcycles.
The political environment also remains favorable: the Centre extended incentives for relevant electric two-wheelers under the PM E-DRIVE program until July 2026. This program aims to lower the initial cost of EVs, support charging infrastructure, and strengthen domestic manufacturing, although industry leaders continue to seek additional policy support to help nascent manufacturers scale production.
ClientTech startup BatX Energies, based in Gurugram, has successfully completed raising funding of ₹105 crore in a Series A round. The round was led by IvyCap Ventures.
In addition to the lead investor, existing investors participated in the round, including Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office, and JITO. BatX Energies specializes in battery recycling, critical mineral extraction, and purification.
The raised funds are planned to be used to expand recycling and purification capacities, strengthen research and development (R&D), and accelerate the creation of a domestic supply chain for essential battery materials.
Utkarsh Singh, Co-founder and CEO of BatX Energies, noted that many countries face the challenge of ensuring sustainable and domestic supplies of critical minerals, and he believes BatX can play a significant role in creating globally sustainable and reliable supply chains.
The company has developed proprietary technologies that allow it to extract battery-grade materials from spent batteries and industrial waste, enabling their reintroduction into the production cycle. Vikrant Singh, Co-founder and CTO of BatX Energies, emphasized that the technology is the main competitive advantage, noting four patents and several under development, with a focus on creating highly efficient and cost-effective purification technologies scalable globally.
According to the startup, as electric mobility, renewable energy, and energy storage systems grow in India, securing strategic minerals such as lithium, cobalt, nickel, and graphite is becoming vital for industrial growth and national energy security.
Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, stated that India's energy transition depends on ensuring sustainable access to critical minerals. He added that BatX has created a strong technological platform for the recovery, purification, and reuse of battery materials, addressing both economic and strategic concerns.
BatX asserts that it has demonstrated its technology at a commercial scale and is already producing and supplying raw materials back to the market, contributing to the formation of a circular economy and reducing import dependence.
