Best Battery Stocks in November 2025 5yr CAGR Basis: Eveready Industries, Exide Industries, & More

The Indian battery market, valued at USD 7.2 billion in 2024, is expected to reach USD 14.9 billion by 2033, growing at a CAGR of 8.4% between 2025 and 2033. This growth is largely driven by the rising adoption of electric vehicles (EVs) amid growing environmental consciousness, the swift expansion of telecommunication and IT infrastructure, and ongoing innovations in battery technology. In this article, check the best battery stocks in India in November 2025, based on 5yr CAGR.

Best Battery Stocks in India in November 2025 – 5yr CAGR Basis

Note: The best battery stocks in India listed here are as of October 27, 2025. The stocks are selected with a market cap of over ₹500 crore and sorted based on the 5yr CAGR.

Overview of the Best Battery Stocks in India

1. HBL Engineering Ltd 

HBL Power System Ltd is involved in the manufacturing and services of various types of batteries, e-mobility, and other products. For the quarter ended June 30, 2025, the company recorded a total income of ₹60,732.74 lakh, up from ₹46,720.95 lakh in the previous quarter and ₹51,676.90 lakh in the same period last year. Its net profit for the quarter rose to ₹13,973.01 lakh, compared to ₹5,127.40 lakh in the previous quarter and ₹7,425.48 lakh in the corresponding quarter of the previous year.

Key Metrics:

• Return on Capital Employed (ROCE): 24.91%
• Return on Equity (ROE): 20.50%

2. Eveready Industries India Ltd 

Eveready Industries India is one of the well-known battery company stocks in India. In Q1 FY26, the company reported revenue from operations of ₹374.1 crore, compared to ₹349.4 crore in Q1 FY25, registering a year-on-year growth of 7.1%. The profit after tax for the quarter was ₹30.2 crore, a slight increase from ₹29.4 crore in the same quarter last year, reflecting a 2.8% year-on-year rise.

Key Metrics:

• ROCE: 19.18%
• ROE: 19.45%

3. Exide Industries Ltd 

Exide Industries Ltd is mainly involved in the manufacturing of storage batteries and related products in India. The company’s standalone revenue from operations for FY25 stood at ₹16,588 crore, which grew from ₹16,029 crore in FY24, while profit after tax (PAT) rose to ₹1,077 crore from ₹1,053 crore in the previous year.

Key Metrics:

• ROCE: 8.61%
• ROE: 5.93%

4. Amara Raja Energy & Mobility Ltd

Amara Raja Batteries Limited (ARBL) is the flagship company of the Amara Raja Group. The company is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry. 

In Q1 FY26, the company recorded operational revenue of ₹34,011 million, up from ₹32,631 million in Q1 FY25, indicating a year-on-year growth of 4.2%. However, its profit after tax (PAT) fell to ₹1,648 million from ₹2,491 million in the corresponding quarter of the previous year, marking a 33.8% year-on-year decline.

Key Metrics:

• ROCE: 16.79%
• ROE: 13.32%

Growth of the Indian Battery Sector 

The Indian battery market is categorised by technology, comprising lithium-ion, lead-acid, and other battery types, and by application, which includes SLI batteries, industrial batteries (motive, stationary for telecom, UPS, and energy storage systems), portable batteries for consumer electronics, and automotive batteries (HEV, PHEV, and EV).

The market is projected to expand at a CAGR of 16.8%, rising from USD 7.2 billion in 2024 to a significantly higher value by 2029. Within this, the lithium-ion battery segment generated USD 5,116.4 million in revenue in 2023 and is expected to reach USD 30,860.6 million by 2032, growing at a strong CAGR of 22.1% between 2024 and 2032.

Also Read: Best Paint Stocks in November 2025! 

Conclusion 

Apart from the stocks mentioned above, there can be many other companies that are into battery manufacturing. It’s important 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.