No Website, No Track Record, ₹10 Lakh Capital Company Gets ₹2,550 Crore AP Battery Plant

The Andhra Pradesh government has approved a ₹2,550 crore cathode material manufacturing project in Chittoor district for a company that is less than a year old, has just ₹10 lakh in paid-up capital, no public website and no visible track record in large-scale manufacturing.

The project has been awarded to NPSPL Speciality Chemicals Private Limited , a company incorporated in March 2025 and registered in Kolkata. Corporate filings show the company has an authorised capital of ₹10 lakh and an equal paid-up capital of ₹10 lakh. It has no reported turnover, no filed annual accounts and no disclosed manufacturing operations so far.

Despite this, the company has been allotted 105 acres in Gudupalle mandal of Chittoor, Andhra Pradesh , to set up a cathode material manufacturing facility under the state’s Electronics Component Manufacturing Policy.

Cathode materials are among the most expensive and technologically demanding parts of a lithium-ion battery. They determine battery performance, charging speed, lifespan and safety, and are considered a strategic segment because India currently depends heavily on imports from China, Japan and South Korea.

Public records do not show any website, customer list, product profile, technology partner or completed project for the company. There is also little information available on its promoters’ financial strength or whether the project has achieved financial closure.

The company’s director, Sanjay Kumar Parida , is linked to several other recently incorporated entities in chemicals and advanced materials, suggesting an attempt to build a larger battery materials platform. However, none of these firms appear to have an established industrial presence yet.

The Andhra Pradesh government has not disclosed what due diligence was conducted, who the investors are, whether there are foreign technology partners involved, or what benchmarks were used before approving one of the state’s largest proposed battery sector investments.