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

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. 

Best Battery Stocks in May 2025 – Based on 5yr CAGR 

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 

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. 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: 

• Return on Capital Employed (ROCE): 30.98% 

• Return on Equity (ROE): 25.87% 

2. Eveready Industries India Ltd 

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: 

• ROCE: 20.23% 

• ROE: 18.91% 

3. Exide Industries Ltd 

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: 

• ROCE: 9.86% 

• ROE: 7.29% 

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 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: 

• ROCE: 17.72% 

• ROE: 14.59% 

Best Battery Stocks in May 2025 – Based on Net Profit Margin 

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.  

Best Battery Stocks in May 2025 – Based on Return on Investment  

Note: The best battery stocks list provided here is as of May 5, 2025. The stocks are sorted based on the return on investment.  

Growth of the Indian Battery Sector 

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! 

Pros of Investing in Battery Stocks 

• Market Growth: The global shift toward electric vehicles (EVs), renewable energy storage, and smart devices is fueling rapid demand for advanced battery technologies. 

• Government Support: Many governments, including India’s, offer incentives and policy support for battery manufacturing and EV adoption, boosting industry prospects. 

• Diversified Applications: Batteries are used in EVs, mobile devices, power backups, grid storage, and more, offering diverse revenue streams for companies. 

Cons of Investing in Battery Stocks 

• High Competition: The battery industry is highly competitive, with major global players dominating and making it difficult for new entrants to establish themselves. 

• Raw Material Dependency: Prices of key raw materials like lithium, cobalt, and nickel are volatile and can significantly affect profit margins. 

• Regulatory Risks: Mining of battery metals and disposal of old batteries can pose environmental concerns and may lead to stricter regulations. 

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.