Himadri Speciality Chemical is planning to produce high value-added speciality products by September next year, eyeing both domestic and international markets, especially Europe and the US.

The Kolkata-based company, India’s largest speciality carbon black maker, will be producing the new value-added products — Anthraquinone, Carbazole and Fluorene — as a forward integration process at its Singur plant in West Bengal.

“These will be new products, which will be produced for the first time in India. The company will forward-integrate its existing coal tar distillates to produce the high value-added speciality products,” Anurag Choudhary, CMD and CEO, Himadri Speciality Chemical, told businessline.

Capex earmarked

The company has earmarked a capital expenditure of ₹120 crore for setting up a new facility at its existing plant to produce the new value-added products.

Anthraquinone, which has applications in dye, paper, Hydrogen Peroxide and agriculture, had a global market size of around $4.96 billion in 2023 and it is expected to grow at a CAGR of 5 per cent by 2032.

Carbazole and Fluorene had global markets of around $1.2 billion and $1.73 billion in 2023 and 2024, respectively. While Carbazole has applications in pharmaceuticals, electronics, polymeric materials and agrochemicals, Fluorene is used in pharmaceuticals, plastics and agrochemicals.

“Domestic market size would be around 20 per cent of the global market. The new value-added products can be used as import substitution in the domestic market. And, we will be supplying these products all over the world — Europe, the US and South-East Asia,” Choudhary said, adding the company is looking to produce the new products by September 2026.

Himadri Speciality Chemical’s consolidated net profit grew 29.76 per cent year on year to ₹141.15 crore for the third quarter this fiscal from ₹108.78 crore for the same period last fiscal. Revenue from operations rose 8.37 per cent to ₹1,140.66 crore for Q3FY25. The company achieved its highest-ever quarterly EBITDA of ₹222 crore in the period.