Best Battery Stocks in March 2025 5yr CAGR Basis: HBL Engineering, High Energy Batteries & More

India’s battery sector is experiencing significant expansion, driven by the increasing adoption of electric vehicles (EVs), advancements in renewable energy storage, and rising demand for consumer electronics.

The Indian battery market is estimated to be valued at $8.41 billion in 2025 and is expected to grow at a compound annual growth rate (CAGR) of 16.8%, reaching $18.28 billion by 2030. This surge is attributed to strong policy support, technological advancements, and increasing investments in the sector.

Investors looking to capitalise on this growth may consider leading battery stocks in India. The best-performing stocks for March 2025 have been identified based on key financial parameters, including five-year CAGR, market capitalisation, and net profit margin.

Best Battery Stock in March 2025 Based on 5Y CAGR

Note: The best Battery stocks list is as of February 27, 2025. The stocks are sorted based on the 5Y CAGR. The following parameters have been used to screen the stocks.

Overview of the Best Battery Stocks in March 2025

• HBL Engineering Ltd

HBL Engineering, founded in 1977, specializes in industrial, defence, and aviation batteries, along with railway electronics and electric mobility solutions. Key products include train collision avoidance systems, train management systems, and electric drivetrain kits.

HBL Engineering Q3 FY25 revenue fell 25.22% YoY to ₹452.10Cr, with a 15.24% quarterly decline. Net profit dropped 18.26% YoY to ₹64.61Cr, while net profit margin rose 9.31% YoY to 14.29%.

Key metrics:

• Earning per share (EPS): ₹10.35
• Return on equity (ROE): 21.32%

• High Energy Batteries (India) Ltd

High Energy Batteries (India) Ltd, founded in 1979 by the ESVIN Group, manufactures aerospace, naval, and power system batteries for defence and commercial sectors, exports globally, and focuses on quality, sustainability, and stakeholder value through advanced technology.

High Energy Batteries (India) Ltd reported a 24.16% year-on-year revenue decline to ₹13.62Cr in Q3 FY2024-25, with a 16.39% drop from the previous quarter, reflecting a downturn in business performance over the last three months.

Key metrics:

• EPS: ₹11.21
• ROE: 11.19%

• Kabra Extrusion Technik Ltd

Kabra Extrusion Technik Ltd, part of the Kolsite Group, manufactures plastic extrusion machinery for pipes and films. It exports globally, partners with Battenfeld for technology, and recently expanded into lithium-ion battery packs, serving infrastructure, packaging, and agriculture sectors.

Kabra Extrusion Technik Q3 FY25 revenue declined by 1.55% year-over-year to ₹124.01 crore. Every quarter, the company recorded a 4.62% drop in revenue over the last three months.

Key metrics:

• EPS: ₹11.15
• ROE: 8.44%

• Eveready Industries India Ltd

Eveready Industries India Ltd. (EIIL) manufactures batteries, lighting products, and industrial components. Originally Union Carbide India Ltd., it has operated since 1905 and is the world’s third-largest carbon zinc battery producer, offering dry cell and rechargeable batteries.

Eveready Industries India reported a 55% YoY rise in Q3 FY25 net profit to ₹13 crore, with revenue up 9% to ₹333.5 crore. EBITDA grew 16.5% to ₹29 crore, and EBITDA margin improved to 8.7%.

Key metrics:

• EPS: ₹11.00
• ROE: 18.40%

• UNO Minda Ltd

Uno Minda Limited, founded in 1958, designs and manufactures automotive components globally. With facilities in India, Indonesia, Vietnam, Spain, and Mexico, it focuses on innovation, EV opportunities, and R&D, producing lighting, seating, sensors, and alloy wheels.

Uno Minda reported net profit rose 20% YoY to ₹157 crore, while revenue grew 20% to ₹3,136 crore from ₹2,611 crore last year. The Gurugram-based auto component manufacturer showed strong growth.

Key metrics:

• EPS: ₹12.35
• ROE: 17.26%

Best Battery Stock in March 2025 Based on Market Cap

Note: The best Battery stocks list here is as of February 27, 2025. The stocks are sorted based on the market cap. 

Best Battery Stocks in March 2025- Based on Net Profit Margin

Note: The best battery stocks list here is as of February 25, 2025. The stocks are sorted based on the net profit margin. 

Key Drivers of Growth in the Battery Sector

India’s battery industry is set for significant expansion, driven by the growing adoption of electric vehicles (EVs) and the country’s ambitious renewable energy targets.

With demand for lithium-ion batteries projected to reach 54 GWh by FY27 and 127 GWh by FY30, the sector is witnessing increased investment and policy support.

Government Initiatives Fuel Industry Expansion

The Indian government has introduced various schemes to accelerate battery adoption, including:

• Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME)

This scheme provides subsidies to reduce the cost of EVs.

• Viability Gap Funding

Aimed at making Battery Energy Storage Systems (BESS) more cost-effective for large-scale deployment.

• Production Linked Incentive (PLI) Scheme

Incentivises domestic battery production to reduce reliance on imports and strengthen India’s manufacturing ecosystem.

Investment Potential in Battery Stocks

With strong government backing and increasing demand, investing in battery stocks presents several advantages:

• High Growth Potential

The global push for clean energy and EVs is fueling demand for batteries.

• Diverse Applications

Batteries are used across automotive, renewable energy, consumer electronics, and industrial sectors, ensuring multiple revenue streams.

• Technological Advancements

Innovations in solid-state and enhanced lithium-ion batteries provide long-term growth opportunities.

Challenges in the Battery Sector

Despite its growth trajectory, the battery industry faces certain risks:

• Raw Material Dependence

Battery manufacturing relies on lithium, cobalt, and nickel, which are subject to price fluctuations and supply chain constraints.

• Regulatory and Environmental Concerns

Mining and disposal regulations increase compliance costs and operational complexities.

Conclusion

While several companies are contributing to India’s battery revolution, investors should carefully assess each company’s business model, financials, and long-term viability before making investment decisions. With policy support and technological advancements, India’s battery sector is set to play a crucial role in the country’s clean energy transition.

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 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.