LICO Materials aims to triple revenue to Rs 100 cr in FY26, says CEO

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LICO Materials aims to triple revenue to Rs 100 cr in FY26, says CEO - Business Standard

Quick Summary:

LICO Materials, a battery recycling and repurposing company, is looking to triple its revenue to over Rs 100 crore in FY26 on the back of growing EV and energy storage demand in India, its CEO Gaurav Dolwani said.

The company was hoping for a better revenue in the current financial year but the decline in lithium, cobalt, and nickel prices has impacted the numbers, even though the company has hit its desired quantities.

Last month, it inaugurated a battery recycling facility in Bengaluru, which has the capacity to process about 17,500 tonne of battery input per annum.