India’s battery market is projected to grow at a CAGR of 16.80%, rising from USD 7.20 billion in 2024 to a significantly higher value by 2029. In this article, check the best battery stocks in India for May 2025, based on the 5yr CAGR and other parameters like net profit margin and return on investment.
Name | 5Y CAGR (%) ↓ | Market Cap (₹ in crore) | PE Ratio |
HBL Engineering Ltd | 106.78 | 13,676.80 | 48.69 |
Eveready Industries India Ltd | 36.04 | 2,274.38 | 34.06 |
Exide Industries Ltd | 17.70 | 30,187.75 | 37.97 |
Amara Raja Energy & Mobility Ltd | 11.05 | 17,649.14 | 18.89 |
Note: The best battery stocks list provided here is as of May 5, 2025. The stocks have a market cap of more than ₹1,000 crore and are sorted based on the 5-year CAGR.
Overview of the Best Battery Stocks in May 2025
HBL Power System Ltd is engaged in the manufacturing and services of various types of batteries, e-mobility, and other products. In Q3 FY 2025, the company’s total income was ₹45,209.65 lakh, which dropped from ₹60,453.76 lakh during the same period in the previous year. PAT was ₹5,838.98 lakh, down from ₹7,845.11 lakh during the same period in the previous year.
Key metrics:
Eveready Industries India Limited is one of the well-known battery company stocks in India. The company provides batteries, lighting solutions, flashlights, and home appliances. For Q3 FY25, the company reported a total income from operations of ₹333.3 crore, reflecting a 9.4% increase from ₹304.8 crore in Q3 FY24. Profit after tax saw a rise of 56.0%, reaching ₹13.1 crore compared to ₹8.4 crore in the same quarter of the previous year.
Key metrics:
Exide Industries Ltd is mainly engaged in the manufacturing of storage batteries and related products in India. In Q3 FY25, the company’s standalone revenues amounted to ₹3,849 crore, slightly higher than ₹3,841 crore recorded in Q3 FY24. PAT also saw an increase, reaching ₹245 crore in Q3 FY25 compared to ₹240 crore in the same period last year.
Key metrics:
Amara Raja Batteries Limited (ARBL) is the flagship company of the Amara Raja Group. The company is amongst the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry. In Q3 FY25, the company’s operational revenue stood at ₹32,725 million, reflecting a 7.5% year-on-year growth from ₹30,446 million in Q3 FY24. PAT also saw an 11.4% increase, rising to ₹2,984 million from ₹2,679 million in the same period last year.
Key metrics:
Name | Net Profit Margin (%) ↓ |
Panasonic Carbon India Co Ltd | 30.10 |
HBL Engineering Ltd | 12.38 |
Amara Raja Energy & Mobility Ltd | 7.91 |
Goldstar Power Ltd | 7.72 |
Eveready Industries India Ltd | 5.07 |
Note: The best battery stocks list provided here is as of May 5, 2025. The stocks are with a positive 5yr CAGR and sorted based on the net profit margin.
Name | Return on Investment (%) ↓ |
CLN Energy Ltd | 74.36 |
Maxvolt Energy Industries Ltd | 32.97 |
ATC Energies System Ltd | 26.43 |
HBL Engineering Ltd | 22.82 |
Eveready Industries India Ltd | 14.29 |
Note: The best battery stocks list provided here is as of May 5, 2025. The stocks are sorted based on the return on investment.
The Indian battery market is categorised by technology, such as lithium-ion, lead-acid, and other battery types, and by application, covering SLI batteries, industrial batteries (motive, stationary for telecom, UPS, and energy storage systems), portable batteries (consumer electronics), and automotive batteries (HEV, PHEV, and EV).
India’s battery market is projected to grow at a CAGR of 16.80%, rising from USD 7.20 billion in 2024 to a significantly higher value by 2029. Meanwhile, the country’s lithium-ion battery segment recorded revenue of USD 5,116.4 million in 2023 and is expected to surge to USD 30,860.6 million by 2032, registering a CAGR of 22.1% between 2024 and 2032.
Also Read: Best Long-Term Stocks in May 2025 – 5yr CAGR Basis!
Apart from the stocks mentioned above, there can be several other companies that are into battery manufacturing. It’s crucial to evaluate each company’s business model, financials, and long-term potential before making investment decisions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: May 5, 2025, 2:44 PM IST
Nikitha Devi
Nikitha is a content creator with 6+ years of experience in the financial domain. Specialising in personal finance, investments, and market insights, Nikitha simplifies complex financial topics, making them accessible to readers.
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