Himadri Speciality Chemical to Acquire Dalmia Tire Business

On September 21, 2026, Himadri Speciality Chemical’s board approved a scheme of arrangement to transfer the tire business of Dalmia Bharat Refractories to Himadri as a going concern. The proposed transaction covers the business activities associated with the design, manufacture and development of tires and tire products. It also includes the related assets, liabilities, contracts, employees, brands, licenses and properties associated with the demerged business. The approval marks a proposed structural transfer of the tire operations into Himadri’s existing business portfolio, subject to the remaining required approvals.

Himadri Approves Tire Business Transfer

The approved arrangement would move Dalmia Bharat Refractories’ tire business to Himadri Speciality Chemical as a going concern, meaning the demerged business is intended to transfer together with its associated operational components. The scope is not limited to tire manufacturing activities alone. According to the company, the transaction encompasses the design, manufacture and development of tires and tire products, together with related assets, liabilities, contracts, employees, brands, licenses and properties. This structure is intended to allow the tire business to continue within Himadri after completion of the required transaction process.

Integration With Carbon Materials Operations

Himadri said the transaction would integrate the tire business with its existing carbon black and advanced carbon materials operations. The company expects this combination to allow it to apply its material expertise, research and development capabilities, manufacturing resources and customer relationships across tire applications. The proposed integration therefore connects the transferred tire activities with Himadri’s established materials-related operations. The company’s stated rationale centers on using capabilities that already exist within its business to support applications involving tires and tire products, while bringing the demerged operations into the broader Himadri portfolio.

Transaction Remains Subject To Approvals

Despite the board approval, the transaction has not yet completed. Himadri stated that the scheme of arrangement remains subject to approvals from the stock exchanges. Until the applicable approval process is completed, the proposed transfer remains a transaction in progress rather than a finalized change in ownership or business structure. The next stage will therefore depend on the required regulatory and transaction approvals. The announcement establishes the board-approved framework for transferring the tire business, while the outstanding approvals determine whether and when the arrangement can proceed to completion.

Industry Impact & Outlook

The proposed transfer could broaden Himadri Speciality Chemical’s operational exposure across tire-related applications by combining the acquired business with its carbon black and advanced carbon materials activities. Its significance will depend on the completion of the required stock exchange approvals and the subsequent integration of the tire operations, including their assets, employees, contracts, brands and manufacturing activities. For the Indian automotive materials and tire ecosystem, the development represents a move to connect tire manufacturing capabilities with an established carbon-materials business, while the immediate next step remains the regulatory approval process.

Frequently Asked Questions

What did Himadri Speciality Chemical approve on September 21, 2026?
Himadri Speciality Chemical’s board approved a scheme of arrangement to transfer Dalmia Bharat Refractories’ tire business to Himadri as a going concern. The transaction covers the design, manufacture and development of tires and tire products, along with related assets, liabilities, contracts, employees, brands, licenses and properties. Himadri said the combination would integrate the tire business with its carbon black and advanced carbon materials operations. The proposed arrangement remains subject to approvals from the stock exchanges before the transfer can proceed to completion.