Himadri eyes ₹500 crore Birla Tyres expansion and Sicona's $10.3 million US battery bet
Moody's reports Himadri plans a ₹500 crore tyre expansion, folds Dalmia's Birla operations into its own books, and Sicona invests in US battery materials.
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what happened
According to Moody's, Himadri Speciality Chemical is getting ready to commit ₹500 crore to growing its revived Birla Tyres business and wants full control of the tyre unit currently run by partner Dalmia Bharat Refractories. Meanwhile, its Australian associate Sicona Battery Technologies has bought US silicon-anode firm Advano and intends to put $10.3 million into a Louisiana site.
Birla Tyres, long known for bias tyres used on trucks and buses, restarted operations in Q1 FY26. Himadri is upgrading its Balasore plant in Odisha, adding commercial-vehicle and farm tyres, and preparing radial tyres for electric cars and SUVs. The company aims for ₹3,000 crore of annual tyre sales within four to five years. The proposed merger of Dalmia's tyre unit, which generated ₹149.31 crore of turnover in FY26, would hand Himadri full ownership; Dalmia shareholders would receive one Himadri share for every 260 they hold, subject to approvals.
On the financial side, Himadri's consolidated FY26 revenue rose to ₹4,661 crore and net profit to ₹755 crore. In H1 FY27, revenue jumped 42.7% to ₹3,123 crore and profit climbed 29.3% to ₹460 crore, although EBITDA margin slipped to 19.7% from 21.6%. Consolidated borrowings reached ₹1,156 crore in September, up from ₹767 crore in March.
why it matters
The expansion is aimed at higher-margin radial tyres and battery materials. The consolidation itself adds no manufacturing capacity, so the outcome depends on execution. Rising debt and a narrower margin matter for investors tracking whether the company can lift net profit above ₹1,100 crore by FY28.
market impact
Himadri shares: rising debt and thinner margins during heavy investment weigh on the company's financial profile
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instruments
sources
- Himadri plans ₹500-crore Birla Tyres expansion as Sicona invests $10.3 million in US battery technology — Moody's, 20 October 2026 at 16:31 UTC
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