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

The battery sector in India is witnessing remarkable growth, driven by the rapid adoption of electric vehicles (EVs), advancements in renewable energy storage solutions, and increasing demand for consumer electronics. The Indian Battery Market size is estimated at USD 8.41 billion in 2025 and is projected to reach USD 18.28 billion by 2030, growing at an impressive CAGR of 16.8% during the forecast period (2025-2030).

In this article, check the best battery stocks in India for February 2025, based on the 5yr CAGR and other parameters like market capitalisation and net profit margin.

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

Note: The best battery stocks list provided here is as of January 28, 2024. 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 February 2025

1. HBL Engineering Ltd

HBL Power System Ltd is into the manufacturing and services of various types of batteries, e-mobility, and other products. In H1 FY 2025, the company’s total income was ₹1,05,876.43 lakh, up from ₹1,03,010.09 lakh during the same period in the previous year. PAT was ₹16,735.67 lakh, up from ₹12,039.90 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 among the well-known battery companies stock in India. It is one of the prominent manufacturers of dry-cell batteries in India. The company provides batteries, lighting solutions, flashlights, and home appliances. In H1 FY 2025, the company’s total income from operations was ₹711.8 crore, down by 2.3% from ₹728.5 crore during the same period in the previous year. PAT was ₹58.92 crore, up by 17.1% from ₹50.30 crore during the same period in the previous year.

Key metrics:

• ROCE: 20.23%
• ROE: 18.91%

3. Exide Industries Ltd

Exide Industries Ltd is mainly into the manufacturing of storage batteries and related products in India. In H1 FY 2025, the company’s revenue was ₹8,580 crore, up by 4.9% YoY. In H1 FY 2025, the PAT was ₹577.3 crore, up by 9.2% from ₹528.9 crore during the same period in the previous 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 H1 FY 2025, the company’s total income was ₹6,568.84 crore, up from ₹5,808.96 crore during the same period in the previous year. In H1 FY 2025, the PAT was ₹484.73 crore, up from ₹436.71 crore during the same period in the previous year.

Key metrics:

• ROCE: 17.72%
• ROE: 14.59%

Best Battery Stocks in February 2025 – Based on Market Cap

Note: The best battery stocks list provided here is as of January 28, 2024. The stocks are sorted based on the market cap.

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

Note: The best battery stocks list provided here is as of January 28, 2024. The stocks are sorted based on the net profit margin.

Growth of the Indian Battery Sector

Batteries are essential to our daily lives, powering everything from TV remotes to electric vehicles (EVs). India’s lithium-ion battery industry is poised for growth, with demand projected to reach 54 GWh by FY27 and 127 GWh by FY30. This surge is fueled by the nation’s ambitious renewable energy goals, aiming for 50% of its primary energy to come from renewables by 2030.

Additionally, government initiatives such as the FAME scheme and Viability Gap Funding are driving down the costs of EVs and Battery Energy Storage Systems (BESS), further accelerating demand.

Benefits of Investing in Battery Stocks

• Growth Potential: The global push towards clean energy and electric vehicles (EVs) has led to a surge in demand for batteries.
• Government Support: In India, initiatives like the Production Linked Incentive (PLI) schemes and subsidies for EVs and renewable energy projects provide a favourable environment for battery manufacturers and related industries.
• Diverse Applications: Batteries are used in various sectors, including automotive, renewable energy, consumer electronics, and industrial applications, ensuring multiple revenue streams for companies in this space.
• Technological Advancements: Continuous R&D in battery technology, such as solid-state batteries and enhanced lithium-ion batteries, creates opportunities for innovation-driven growth.

Risks of Investing in Battery Stocks

• Raw Material Dependence: Battery manufacturing relies heavily on critical minerals like lithium, cobalt, and nickel, which are subject to price volatility and supply chain disruptions.
• Regulatory and Environmental Challenges: Stringent regulations regarding mining and disposal of battery components can increase operational costs and compliance burdens.

Conclusion

Apart from the stocks mentioned here, there can be several other companies that play a key role 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.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.