What are the leading battery companies in India?

Several battery companies in India operate across automotive, industrial and energy storage segments. Exide Industries, Amara Raja Energy and Mobility, HBL Engineering, Eveready Industries and Indo National are prominent listed companies involved in battery manufacturing and related businesses.

Which is the best battery stock?

The following battery stocks are listed based on 1-year returns: Maxvolt Energy Industries Ltd CLN Energy Ltd HBL Engineering Ltd Disclaimer: The above list of battery stocks in India is for educational purposes only and should not be considered investment advice.

Why is the battery sector in India gaining investor interest?

Electric vehicle adoption, renewable energy expansion and growing energy storage requirements are increasing demand for batteries. These trends have brought greater market attention to EV battery stocks in India and businesses involved in lithium-ion cells, battery packs and energy storage systems.

What factors should be considered before investing in battery stocks?

Relevant factors for evaluating battery manufacturers in India include financial performance, production capacity, technological capabilities, customer concentration, raw material dependence, policy support and exposure to automotive or energy storage demand. Battery chemistry and localisation also influence manufacturing economics.

How is the Indian government supporting the battery industry?

The government supports domestic battery manufacturing through initiatives such as the Advanced Chemistry Cell Production Linked Incentive scheme, which targets 50 GWh of manufacturing capacity. These measures aim to support battery companies in India and reduce dependence on imported cells.

What are the risks associated with investing in battery stocks?

Battery businesses face risks from technological change, raw material price volatility, import dependence, competition, regulatory shifts and capacity underutilisation. These factors can affect EV battery stocks, particularly companies investing heavily in new lithium-ion manufacturing facilities.

What is the market outlook for battery stocks in India?

The industry outlook remains linked to electric vehicle adoption, grid-scale storage and renewable energy expansion. These developments may support demand for products supplied by domestic battery manufacturers, although lithium battery share price movements will depend on company performance, production economics and technology risks.

Battery Stocks: Top Battery Shares in India (2026)

India's battery industry is expanding alongside electric mobility and renewable energy. The government estimates a requirement of 41.65 GW of battery energy storage by 2029-30, while domestic battery manufacturing continues to scale under the Advanced Chemistry Cell PLI scheme, increasing interest in battery-related stocks.

Best Battery Stocks in India (2026)

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	NameStocks (13)↓	↓Sub-SectorSub-Sector↓	↓Market CapMarket Cap↓	↓Close PriceClose Price↓	↓PE RatioPE Ratio↓	↓1D Return1D Return↓	↓1M Return1M Return↓	↓6M Return6M Return↓	↓1Y Return1Y Return↓	↓PB RatioPB Ratio↓	↓Return on EquityReturn on Equity↓	↓ROCEROCE↓	↓Dividend YieldDiv Yield↓	↓Debt to EquityDebt to Equity↓	↓Volatility vs NiftyVolatility vs Nifty↓
1.	Exide Industries Ltd EXIDEIND	BatteriesBatteries	29,291.0029,291.00	344.60344.60	34.2934.29	-2.61-2.61	-15.47-15.47	-5.19-5.19	-10.40-10.40	2.102.10	6.136.13	8.938.93	0.580.58	0.110.11	2.062.06
2.	HBL Engineering Ltd HBLENGINE	BatteriesBatteries	22,612.1822,612.18	815.75815.75	27.7527.75	0.720.72	4.054.05	0.600.60	-19.37-19.37	10.2210.22	44.1044.10	46.5946.59	0.370.37	0.030.03	3.153.15
3.	Amara Raja Energy & Mobility Ltd ARE&M	BatteriesBatteries	12,886.8212,886.82	704.10704.10	14.3914.39	-0.68-0.68	-8.91-8.91	-20.93-20.93	-30.51-30.51	1.591.59	11.5711.57	14.4614.46	1.511.51	0.050.05	2.162.16
4.	Eveready Industries India Ltd EVEREADY	BatteriesBatteries	2,326.722,326.72	320.10320.10	13.5713.57	4.804.80	1.171.17	-2.07-2.07	-17.41-17.41	3.743.74	31.6431.64	23.8623.86	0.780.78	0.320.32	2.272.27
5.	Ardee Industries Limited ARDEE	BatteriesBatteries	1,358.521,358.52	43.1043.10	16.0416.04	-2.71-2.71	-15.79-15.79	-35.79-35.79	-35.79-35.79	9.229.22	80.6480.64	83.0283.02	--	1.251.25	2.952.95
6.	CLN Energy Ltd CLN	BatteriesBatteries	422.57422.57	391.15391.15	20.5620.56	-3.35-3.35	-18.32-18.32	0.200.20	-33.36-33.36	3.673.67	19.6219.62	30.8630.86	--	0.810.81	4.014.01
7.	Maxvolt Energy Industries Ltd MAXVOLT	BatteriesBatteries	386.49386.49	354.45354.45	13.7713.77	4.994.99	-22.91-22.91	-10.17-10.17	7.207.20	3.573.57	31.7731.77	30.5530.55	--	0.790.79	3.793.79
8.	Goldstar Power Ltd GOLDSTAR	BatteriesBatteries	280.47280.47	9.809.80	9.549.54	4.814.81	-16.24-16.24	36.1136.11	24.8424.84	0.940.94	17.8817.88	10.4110.41	--	0.030.03	3.693.69
9.	Indo National Ltd NIPPOBATRY	BatteriesBatteries	228.26228.26	304.35304.35	-8.66-8.66	-0.21-0.21	-5.69-5.69	-4.49-4.49	-31.77-31.77	0.740.74	-6.77-6.77	-7.06-7.06	1.231.23	0.110.11	2.742.74
10.	Panasonic Carbon India Co Ltd PANCARBON	BatteriesBatteries	184.78184.78	384.95384.95	8.708.70	2.352.35	-3.27-3.27	-20.11-20.11	-20.99-20.99	0.980.98	11.8111.81	16.0416.04	3.123.12	0.000.00	1.431.43
11.	Panasonic Energy India Co Ltd PANAENERG	BatteriesBatteries	180.49180.49	240.65240.65	51.7251.72	3.753.75	-4.82-4.82	-16.73-16.73	-33.52-33.52	1.751.75	3.313.31	5.385.38	0.810.81	0.010.01	2.192.19
12.	ATC Energies System Ltd ATCENERGY	BatteriesBatteries	41.6941.69	20.4520.45	-28.17-28.17	-2.39-2.39	-14.26-14.26	-35.59-35.59	-61.78-61.78	0.480.48	-1.67-1.67	0.740.74	--	0.220.22	3.693.69
13.	Aurique Ltd AURIQUE	BatteriesBatteries	12.2312.23	94.1094.10	37.0737.07	5.005.00	164.85164.85	5.005.00	1,199.721,199.72	9.209.20	--	25.0025.00	--	0.000.00	118.13118.13

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Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.

Selection criteria: Sub-sector: Batteries | Market Cap: Sorted from Highest to Lowest

Union Budget 2026-27: Updates Affecting the Battery Sector in India

Customs duty relief for cell manufacturing: The Budget extended basic customs duty exemptions on capital goods required to manufacture lithium-ion cells for electric vehicles and battery energy storage systems (BESS). This lowers capital costs for setting up and expanding battery plants in India.
Expansion of duty-exempt machinery list: The government added 35 capital goods for EV battery manufacturing and 28 capital goods for mobile phone battery manufacturing to the duty-exempt list. This aims to reduce upfront investment costs across multiple battery manufacturing segments.
Duty-free recycling of battery scrap: Customs duty was removed on lithium-ion battery waste and scrap to support recycling and promote a circular economy. This step improves access to secondary raw materials and reduces dependence on imported inputs.
Support for critical mineral processing: Capital goods used for processing critical minerals such as lithium, cobalt, and rare earth elements received customs duty exemptions. This targets supply chain risks in battery and EV motor manufacturing.
Rare Earth Corridors announced: The Budget proposed dedicated Rare Earth Corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to support permanent magnet manufacturing for EV motors and clean energy applications.
Stronger focus on BESS for grid stability: Continued duty exemptions and policy support for Battery Energy Storage Systems were aligned with renewable energy expansion, aiming to improve grid stability and make storage solutions more cost-competitive.

Overview of the Best Battery Stocks in India

Exide Industries Ltd

Exide Industries Ltd is India’s leading battery manufacturer, producing automotive, industrial, inverter, solar, and submarine batteries. The company also exports to more than 60 countries and is expanding into lithium‑ion cell production for EVs and energy storage through its subsidiary, Exide Energy Solutions.

HBL Engineering Ltd

HBL Engineering Ltd (formerly HBL Power Systems) is an Indian engineering company focused on specialised batteries and power solutions, offering lead‑acid, nickel‑cadmium, and lithium‑ion products for the defence, railways, industrial, and renewable energy sectors, as well as advanced power electronics and safety systems.

Amara Raja Energy & Mobility Ltd

Amara Raja Energy & Mobility Ltd, known for its Amaron brand, manufactures automotive and industrial batteries in India. It is expanding into lithium‑ion technologies to support the EV transition, leveraging partnerships and local cell manufacturing to strengthen its position in the energy storage and mobility markets.

Eveready Industries India Ltd

Eveready Industries India Ltd is a well‑known battery and lighting-products company, dominating the dry-cell and flashlight segments in India. The firm also offers rechargeable batteries and small electrical appliances, maintaining strong brand recall and market presence in the consumer energy products category.

Maxvolt Energy Industries Ltd

Maxvolt Energy Industries Ltd is an Indian lithium‑ion battery manufacturer focused on EV and energy-storage solutions. Based in Ghaziabad, it produces rechargeable lithium battery packs for electric vehicles and aims to expand production capacity and sustainable recycling facilities to support India’s clean mobility growth.

How to Invest in Power Transmission Stocks?

Investing in Power Transmission stocks in India using Tickertape is a straightforward process. Tickertape is a powerful stock analysis and screening tool that helps you make informed investment decisions. Here’s how you can use Tickertape to invest in Power Transmission stocks in India:

Sign Up and Log In: You can create an account on the Tickertape or log in if you already have one.
Search for “Power Transmission”: Go to Tickertape Stock Screener and set the “Sub-sector: Power Transmission” filter
Use Filters: You can apply over 200 filters to get stocks sorted based on criteria like market cap, P/E ratio, or returns. You can create your own custom filter, in case your preferred parameters are not available. This can help you narrow down the top Power Transmission stocks in India.
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You can stay updated with each of your favourite stocks’ alerts and announcements with Tickertape Alerts. Further, you can analyse your overall portfolio and potential red flags in it by connecting it to Tickertape. Check out detailed analysis of your portfolio now!

What are Power Transmission Stocks?

Power transmission stocks are shares of companies involved in building, operating, or supplying equipment for electricity transmission networks. These may include transmission line developers, tower manufacturers, transformer makers, cable companies, grid equipment suppliers, and power infrastructure firms.
In India, these stocks are linked to grid expansion, renewable energy integration, inter-state transmission projects, power demand growth, electrification, and government-led transmission investments.

Conclusion

India's battery market is projected to grow from USD 7.2 bn to USD 15.65 bn by 2029, supported by rising demand from electric vehicles and renewable energy storage. Government initiatives such as the PLI scheme are strengthening domestic manufacturing. Investors exploring the top 10 battery company in India list can compare financial strength, production capacity, technological capabilities and regulatory exposure to understand company-specific growth prospects and risks.

Advantages of Investing in Battery Stocks in India

EV Battery Demand

India's EV retail sales reached approximately 2.98 lakh units in August 2026, up 52.9% YoY. Growing electric mobility adoption supports demand for lithium-ion cells, battery packs, battery management systems and related components.

Domestic Manufacturing

India's ₹18,100 crore advanced chemistry cell PLI scheme targets 50 GWh of domestic manufacturing capacity, with 40 GWh awarded by March 2026. The programme supports domestic battery manufacturing and associated component supply chains.

Grid Storage Demand

India has approved viability gap funding schemes supporting approximately 43.8 GWh of battery energy storage systems. These projects create demand beyond automobiles, including batteries used to store renewable electricity and support grid stability.

Recycling Opportunities

Battery recycling creates opportunities to recover lithium, nickel, cobalt and other materials from used cells. This establishes an additional business segment for companies involved in mineral recovery, refining and supplying recycled battery materials.

Risks of Investing in Battery Shares

Import Dependence

India's advanced battery demand continues to be met largely through imports. Dependence on foreign cells and critical minerals exposes domestic manufacturers to currency fluctuations, supply disruptions and international pricing changes.

Capacity Delays

By March 2026, only 1 GWh had been installed against 40 GWh of awarded PLI capacity. Delayed commissioning can postpone commercial revenue while companies continue spending on equipment, financing and plant development.

Technology Shifts

Battery technologies differ in cost, energy density, safety and mineral requirements. Changes in lithium iron phosphate, nickel-based or emerging sodium-ion technologies can affect demand for existing products and manufacturing investments.

Pricing Pressure

Falling battery prices can improve EV affordability but reduce realisations for manufacturers. Companies carrying expensive raw-material inventory or operating less efficient facilities may experience margin pressure when market prices decline faster than production costs.

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Factors to Consider Before Investing in Battery Stocks

Battery Chemistry

Battery manufacturers use different chemistries for EVs, consumer electronics and stationary storage. Their product mix influences raw-material requirements, energy density, safety characteristics and exposure to changing customer preferences across battery applications.

Production Capacity

Manufacturing announcements differ from operational capacity. India's ACC scheme had awarded 40 GWh by March 2026, but only 1 GWh was installed, illustrating the importance of actual commissioning and commercial production.

Customer Exposure

Battery demand comes from automobiles, consumer electronics and grid storage. Companies serving multiple applications face different sales cycles, pricing arrangements and technical requirements, making customer concentration relevant to revenue stability.

Raw Material Sourcing

Lithium, nickel, cobalt and graphite sourcing influences battery production costs. Overseas mineral access, recycling arrangements and long-term supplier contracts can affect cost fluctuations and the reliability of domestic cell manufacturing.

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Frequently Asked Questions on Battery Stocks

What are the leading battery companies in India?
Several battery companies in India operate across automotive, industrial and energy storage segments. Exide Industries, Amara Raja Energy and Mobility, HBL Engineering, Eveready Industries and Indo National are prominent listed companies involved in battery manufacturing and related businesses.
Which is the best battery stock?
The following battery stocks are listed based on 1-year returns:
Disclaimer: The above list of battery stocks in India is for educational purposes only and should not be considered investment advice.
Why is the battery sector in India gaining investor interest?
Electric vehicle adoption, renewable energy expansion and growing energy storage requirements are increasing demand for batteries. These trends have brought greater market attention to EV battery stocks in India and businesses involved in lithium-ion cells, battery packs and energy storage systems.
What factors should be considered before investing in battery stocks?
Relevant factors for evaluating battery manufacturers in India include financial performance, production capacity, technological capabilities, customer concentration, raw material dependence, policy support and exposure to automotive or energy storage demand. Battery chemistry and localisation also influence manufacturing economics.
How is the Indian government supporting the battery industry?
The government supports domestic battery manufacturing through initiatives such as the Advanced Chemistry Cell Production Linked Incentive scheme, which targets 50 GWh of manufacturing capacity. These measures aim to support battery companies in India and reduce dependence on imported cells.
What are the risks associated with investing in battery stocks?
Battery businesses face risks from technological change, raw material price volatility, import dependence, competition, regulatory shifts and capacity underutilisation. These factors can affect EV battery stocks, particularly companies investing heavily in new lithium-ion manufacturing facilities.
What is the market outlook for battery stocks in India?
The industry outlook remains linked to electric vehicle adoption, grid-scale storage and renewable energy expansion. These developments may support demand for products supplied by domestic battery manufacturers, although lithium battery share price movements will depend on company performance, production economics and technology risks.

Disclaimer: This article is for informational purposes only. The content of the article including securities/investment products mentioned if any, should not in any manner be construed as an investment advice, recommendation, offer, solicitation to buy/hold/sell any securities/investment products. The securities quoted if any, are for illustration only and are not recommendatory. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered financial advisor before investing.