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Best Battery Stocks In India For Investment

equity market
15 May 20246 mins readBy MOFSL

Investors cannot overlook the potential of battery stocks in India. The expanding EV market is increasing the demand for powerful automotive batteries and the companies producing their components. Additionally, the growth of solar energy infrastructure drives the demand for battery manufacturers. So, wouldn't you, as an investor, want to learn about the notable battery stocks in India? Let's discuss.

 

Best battery companies' stock

  • Exide Industries

Exide Industries is valued in the energy storage solutions and automotive battery industry. Its products are widely used in automotive batteries for cars, two-wheelers, and heavy-duty vehicles. Exide Industries is also involved in industrial batteries for sectors like telecom, power, and infrastructure.

The company's annual turnover for the financial year 2023 was Rs 15,078 crore, while its net profit was Rs 823 crore.

This battery stock delivered a return of 139.33% in the last year.

 

  • Amara Raja Energy & Mobility Ltd.

Formerly known as Amara Raja Batteries Ltd, this company is another noted name in the energy storage and mobility solutions sector. The company produces Amaron® and PowerzoneTM in the automotive battery segment, which are sold in the retail and OEM markets. For industrial applications, it offers products under brands like PowerStack®, AmaronVolt®, and Quanta®.

The company is setting up a state-of-the-art Gigafactory in Telangana. This move is part of their 'Energy & Mobility' strategy.

Financially, the company's annual turnover for FY23 was Rs 10,388 crore, and the net income was Rs 695 crore. Amara Raja's absolute return in the last year stood at 76.37%.

 

  • Panasonic Carbon India Co. Ltd.

Panasonic Carbon India Co. Ltd. was established in 1982. It is known for manufacturing carbon rods, also known as midget electrodes, which are used in the components of dry-cell batteries. This company's product lineup includes different rod sizes, such as UM-3 (R-6/AA size), UM-1 (R-20/D size), special-size carbon rods, and UM-4 (R-3/AAA size).

Regarding sustainability, its dry cell manufacturing facility has achieved carbon neutrality by installing solar PV systems and recycling 100% of its wastewater.

Panasonic Carbon's revenue was Rs 57.56 crore last year, and its net profit was Rs 16.01 crore.

 

  • HBL Power Systems Ltd.

HBL Power Systems Ltd was established in 1977. It offers lead-acid batteries, nickel batteries, power electronics like battery chargers, UPS systems, and battery energy storage systems. The company also sells spun concrete poles, telecom towers, and solar energy solutions.

Let's discuss the company's financial highlights.

In the financial year 2023, the company sold Rs 1369 crore of its products, and its profit stood at Rs 130 crore. This company's share price hit a 52-week high and low of 612.00 and Rs 100.30, respectively. In terms of percentage, the absolute returns in the past 52 weeks were 389.75%.

 

  • Goldstar Power Ltd.

Goldstar Power Ltd batteries are tailored for automotive, tubular, solar, pure lead, and alloy applications. They also offer inverters, leads, alloys, and other related products, catering to a global customer base.

The company has further expanded its offerings to SMF Auto, VRLA, and Solar Batteries and launched E-Rickshaw batteries.

Although this stock falls under the penny stock category, it has still fared well in terms of return, offering 67.07% in one year. Financially, the company's total revenue was Rs 52.12 crores.

 

  • Eveready Industries India Ltd.

Eveready Industries' legacy spans over a century. It operates in both the battery and lighting products. The company's product lineup includes batteries, flashlights, consumer lighting, professional lighting solutions, and electrical accessories.

Over the past few years, the company has grabbed multiple projects, notably under the new management.

The company's sales in the 2023 financial year were Rs 1,328 crores, and the profit was Rs 28 crores. However, in the last year, the company didn't fare well and has only delivered a return of 1.92%.

 

  • Indo National Ltd.

This company is known for its iconic brand, Nippo. Established in 1972, it has expanded its product lineup to include flashlights, mosquito swatters, LED lighting products, and electrical accessories.

The company has made significant progress in green energy, having commissioned a 4.60 MWp solar power plant in Telangana.

In terms of financials, the company's turnover in the previous financial year was Rs 572 crores. On the price chart, Indo National delivered around 64% of the return in the previous year.

 

Conclusion

With the Indian battery market projected to expand significantly, investing in battery stocks could offer higher returns. But since this sector's potential is still untapped, it's crucial to be cautious and invest small amounts while eyeing diversification.

 

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Disclaimer: The stocks, companies, or financial instruments mentioned in this blog are for informational purposes only and should not be considered as investment recommendations. It is advised to consult with your financial advisor before making any investment decisions. Investment in securities markets are subject to market risks, read all the related documents carefully before investing. Investors are strongly encouraged to carefully read the risk disclosure documents prior to participating in market-related investments or trading activities. Due to the volatile nature of financial markets, no guarantees can be made regarding investment returns. Motilal Oswal Financial Services Ltd. does not offer any assured returns on market-linked securities. Please note that past performance of stocks or indices is not indicative of future results.
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