TCPL Packaging is expanding beyond its traditional packaging business by entering the lithium ion battery separator film segment. 

Through its wholly owned subsidiary, TCPL Energy Materials Limited, the company plans to invest around Rs 125 crore over the next 18 months. It believes the new business could eventually generate annual revenue of up to Rs 2,000 crore at full scale.

During its November 2006 earnings call, Executive Director Akshay Kanoria said the initial investment could generate revenue of up to Rs 200 crore. With further expansion over the next five to six years, the business could potentially reach Rs 1,000 crore to Rs 2,000 crore in revenue.

The company plans to begin with an annual manufacturing capacity of 70 million square metres, which can support around 6 to 8 GWh of lithium ion battery cell production. 

Commercial production is targeted for the fourth quarter of FY28. Over the next five to seven years, TCPL aims to expand capacity to approximately 500 million square metres annually.

Battery separator films are thin membranes placed between the positive and negative electrodes of a lithium ion battery. They prevent direct contact between the electrodes while allowing lithium ions to pass through. This makes them essential for battery safety and performance.

TCPL’s management said the proposed technology would cater to different battery formats, including cylindrical, prismatic and pouch cells, as well as LFP and NMC chemistries.

Growing electric vehicle adoption and demand for grid scale energy storage are increasing the need for battery materials in India. Local manufacturing could help battery makers reduce their dependence on imports.

However, achieving the Rs 2,000 crore revenue target will depend on customer demand, successful execution and the growth of India’s domestic battery manufacturing ecosystem.

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