Founded in 2021, LICO Materials works to recover, reprocess, and reintegrate battery materials into the battery value chain
Lithium-ion battery recycling and refurbishing firm LICO Materials is targeting revenue of about ₹450-500 crore in 202627, driven by higher material-processing volumes, improved capacity utilisation, and greater availability of end-of-life lithium-ion batteries, its CEO Gaurav Dolwani said.
The company recorded revenue of approximately ₹350 crore in 202526, Dolwani said, adding that its processing capacity has expanded significantly since the company last discussed its operations around March last year.
The development assumes significance in the wake of the country's fast-expanding electric vehicle market and a growing push to build a domestic battery-recycling ecosystem that can recover critical minerals and bring down dependence on imports.
"For FY202627, we are targeting revenue of around ₹450-500 crore," Dolwani, who is also the founder of the company, told PTI in an interview, adding that the growth will be driven by higher material-processing volumes and improved capacity utilisation.