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

The Indian battery market was valued at USD 7.2 billion in 2024 and is projected to grow to USD 14.9 billion by 2033, registering a CAGR of 8.4% during 2025-2033, according to IMARC Group. The market growth is primarily driven by the increasing adoption of electric vehicles (EVs) amid rising environmental awareness, the rapid expansion of telecommunication and IT infrastructure, and continuous advancements in battery technology. In this article, check the best battery stocks in India in October 2025, based on 5yr CAGR.

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

Note: The best battery stocks in India listed here are as of September 25, 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 engaged in the manufacturing and services of various types of batteries, e-mobility, and other products. For the quarter ending 30th June 2025, the company reported a total income of ₹60,732.74 lakh, compared to ₹46,720.95 lakh in the previous quarter and ₹51,676.90 lakh in the corresponding quarter of the previous year. The net profit for the period stood at ₹13,973.01 lakh, up from ₹5,127.40 lakh in the previous quarter and ₹7,425.48 lakh for the same quarter last year.

Key Metrics:

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

2. Eveready Industries India Ltd 

Eveready Industries India Limited is one of the well-known battery company stocks in India. In Q1 FY26, the company reported revenue from operations of ₹374.1 crore, up from ₹349.4 crore in Q1 FY25, marking a year-on-year growth of 7.1%. The profit after tax for the quarter stood at ₹30.2 crore, slightly higher than ₹29.4 crore in the corresponding quarter last year, reflecting a 2.8% increase year-on-year.

Key Metrics:

• ROCE: 19.18%
• ROE: 19.45%

3. Exide Industries Ltd 

Exide Industries Ltd is mainly engaged 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, up from ₹16,029 crore in FY24, while profit after tax (PAT) rose slightly 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 amongst the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry.

In Q1 FY26, the company reported an operational revenue of ₹34,011 million, compared to ₹32,631 million in Q1 FY25, registering a year-on-year growth of 4.2%. However, the profit after tax (PAT) declined to ₹1,648 million, down from ₹2,491 million in the same quarter last year, reflecting a 33.8% decrease year-on-year.

Key Metrics:

• ROCE: 16.79%
• ROE: 13.32%

Growth of the Indian Battery Sector 

The Indian battery market is segmented by technology, including lithium-ion, lead-acid, and other battery types, as well as by applications, such as 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 expected to grow at a CAGR of 16.8%, increasing from USD 7.2 billion in 2024 to a substantially higher value by 2029. The lithium-ion battery segment in India generated USD 5,116.4 million in revenue in 2023 and is projected to reach USD 30,860.6 million by 2032, reflecting a robust CAGR of 22.1% from 2024 to 2032.

Also Read: Best Banking Stocks in October 2025! 

Conclusion 

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.