Battery Companies Stock List in India (2026)

What are Battery Stocks?

Battery stocks represent companies that make, develop, or supply batteries and related energy storage solutions. These companies produce batteries used in electric vehicles, renewable energy storage, consumer electronics, and other products.

About Top Battery Stocks in India

• Exide Industries Ltd: It is a leading manufacturer of lead-acid batteries for automotive, industrial, and submarine uses, known for quality and a broad distribution network.
• Amara Raja Energy & Mobility Ltd: Amara Raja Energy & Mobility Ltd specialises in automotive and industrial battery solutions, a key player in energy storage and mobility solutions in India and abroad.
• HBL Power Systems Ltd: It is a manufacturer of specialised batteries and power electronics for industrial, military, and aerospace applications, with a strong domestic and international presence.
• Eveready Industries India Ltd: Eveready Industries India Ltd is known for dry cell batteries, flashlights, and other electrical products, serving consumer needs across India.
• CLN Energy Ltd: CLN Energy Ltd Focuses on renewable energy solutions, specialising in solar power generation and energy storage, contributing to India’s clean energy transition.

How to Invest in the Best Battery Stocks in India?

Here is how you can invest in the battery stocks:

1. Open a demat/trading/stockbroker account. You can open a demat account with smallcase!
2. Conduct thorough research into the top battery stocks in India using Tickertape Stocks Screener. The screener offers over 200 built-in filters, allowing investors to select parameters and generate a list of battery stocks.
3. Place a ‘Buy’ Order on the top battery sector stocks that align with your investment thesis.

Union Budget 2026-27 Update on Battery Sector in India

The Union Budget 2026 was presented on 1st February 2026 by Finance Minister Nirmala Sitharaman. Key highlights for the battery sector include:

• Customs Duty Relief: The Budget extended basic customs duty exemptions on capital goods used in battery manufacturing and battery energy storage systems. This move lowers the initial cost of setting up and expanding battery manufacturing facilities in India.
• Support from Higher Public Capital Expenditure: The increase in capital expenditure to ₹12.2 lakh cr. for FY27 supports investment in power infrastructure, transport, and energy systems. Battery manufacturing benefits indirectly from higher spending in these areas.
• Focus on Domestic Capacity Expansion: India continues to scale battery manufacturing capacity to meet rising demand from electric vehicles and energy storage. Budget measures reduce capital intensity during this phase, supporting long-term capacity expansion and local manufacturing.

Advantages of Investing in Battery Stocks in India

• Rising Electric Vehicles Demand: India sold around 2.3 mn electric vehicles in 2025, accounting for about 8% of total new vehicle registrations. Every electric vehicle needs a battery, which makes batteries a core input for EV growth rather than a peripheral product.
• Growing Need for Energy Storage: India is adding large amounts of solar and wind capacity. To balance this power, the grid needs storage. Government estimates suggest India may need over 330 GWh of energy storage by 2030 and more than 400 GWh by 2032. Batteries form a key part of this storage requirement.
• Government Support: The central government has approved a ₹18,100 cr. Production Linked Incentive (PLI) scheme for advanced chemistry cell (ACC) batteries. The goal is to build large-scale battery manufacturing capacity within India and reduce dependence on imports.
• Multiple Sources of Demand: Battery companies in India do not depend only on electric vehicles. Batteries are also used in: Telecom towers and backup power, Data centres, Railways and metro systems, industrial UPS, inverter systems and more.

Risks of Investing in Battery Shares

• High Raw Material Costs: Key inputs such as lithium, nickel, and cobalt often fluctuate in price. A sudden spike can raise production costs and hurt margins.
• Import Dependence: India still imports most of its lithium-ion cells and raw materials from China. Trade restrictions or higher import duties can disrupt supply and increase costs.
• Technology Upgrades: Battery technology evolves fast. A company investing in older chemistry (like NMC) may lose market share if the market moves toward newer ones (like LFP or solid-state).
• Capital-Intensive Expansion: Building gigafactories or scaling production requires huge investments. Delays in execution or slower-than-expected demand can strain finances and negatively affect the battery share price.

Factors To Consider When Investing In Battery Stocks in India

• Demand from EV and Energy Storage: Battery demand in India is driven mainly by electric vehicles, renewable energy storage, and electronics. Companies with exposure to these fast-growing areas are better placed for long-term growth.
• Government Support and Incentives: Schemes like the PLI for Advanced Chemistry Cell Manufacturing and FAME II can help reduce costs and improve margins. It’s useful to see which companies are approved beneficiaries or have strong policy alignment.
• Technology Focus: Different companies focus on different battery types: lead-acid, lithium-ion, or solid-state. Understanding which technology they specialise in and its market relevance helps assess sustainability.
• Raw Material Sourcing: Since India imports lithium, nickel, and cobalt, companies with secure supply agreements or local partnerships are better protected from supply shocks.
• Manufacturing Capacity and Expansion Plans: A strong capacity expansion roadmap signals confidence in future demand. Analysing each company’s production capacity is essential to determine whether it has solid expansion plans.