Best Battery Stocks in April 2025 5yr CAGR Basis: Eveready Industries, Amara Raja Energy & Mobility & More

India’s battery demand is expected to surge 19-fold, rising from 13 GWh in 2024 to 244 GWh by 2035, driven by the growing adoption of EVs, e-buses, and storage systems. In this article, check the best battery stocks in India for April 2025, based on the 5yr CAGR and other parameters like return on investment and net profit margin.

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

Note: The best battery stocks list provided here is as of April 2, 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 April 2025

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. In Q3 FY 2025, the company’s total income was ₹45,209.65 lakh, up from ₹60,453.76 lakh during the same period in the previous year. PAT was ₹5,838.98  lakh, up 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 companies stock in India. The company offers 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 primarily involved 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 one of 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 April 2025 – Based on Net Profit Margin

Note: The best battery stocks list provided here is as of April 2, 2025. The stocks are sorted based on the net profit margin. 

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

Note: The best battery stocks list provided here is as of April 2, 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, including 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). 

The market size is projected to reach USD 12.68 billion in 2025 and grow to USD 20.97 billion by 2030, with a CAGR of 10.59% from 2025 to 2030.  

India’s cumulative energy storage demand is expected to reach 903 GWh by 2030, distributed among various technologies such as lithium-ion, redox flow, and solid-state batteries. The lithium-ion battery segment, in particular, is set to witness rapid expansion, growing at a CAGR of 50% from 20 GWh in 2022 to 220 GWh by 2030.

Pros of Investing in Battery Stocks

• Growth Potential: The global push for electrification, especially in electric vehicles (EVs) and renewable energy storage, is driving demand for batteries.
• Government Support: Policies like subsidies, production-linked incentives (PLI), and carbon neutrality goals boost investment in battery manufacturing and technology.
• Technological Advancements: Innovations in solid-state batteries, lithium-ion alternatives, and enhanced energy density can improve efficiency and profitability for battery companies.
• Diverse Applications: Beyond EVs, batteries are critical for energy storage, consumer electronics, and industrial applications, ensuring a broad market.

Cons of Investing in Battery Stocks

• 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: Battery production relies heavily on lithium, cobalt, and nickel, which are subject to price fluctuations and supply chain constraints.
• Regulatory Risks: Environmental concerns and changing government policies on battery disposal, mining regulations, and sustainability can impact profitability.
• Cyclical Demand: Market fluctuations, such as a slowdown in EV adoption or technological disruptions, can impact demand for batteries.

Conclusion

Apart from the stocks mentioned here, there can be several other companies that are involved in 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.