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10 Best Battery Companies in India (2023)
Looking for the best lithium-ion battery manufacturing in India? Then this post is right for you.
The Indian battery market is currently dominated by two companies – Exide and Amaron. Both these companies have a strong presence in the automotive, industrial, and inverter segments.
The automotive battery segment is the largest contributor to the overall revenues of the Indian battery industry. In terms of market share, Exide holds a dominant position with a share of around 60%.
Amaron is the second largest player with a share of around 30%. The remaining 10% of the market is shared by a number of small and regional players. The Indian battery industry is highly competitive with a large number of players.
The top two companies, Exide and Amaron, together account for around 90% of the overall market. The remaining 10% is shared by a large number of small and regional players. The industry is also characterized by a large number of unorganized players.
The automotive sector is the largest consumer of automotive batteries in India. The demand for automotive batteries is also driven by the increasing sales of passenger cars and two-wheelers in the country.
The other major drivers of the industry include the increasing demand for inverter batteries from the residential and commercial sectors and the increasing use of batteries in the renewable energy sector.
Top Battery Companies in India
Below are the battery companies in India based on market cap.
| Name | ISIN | Market Cap as on 11/02/2022 |
|---|---|---|
| Exide Industries | INE302A01020 | 13,918 |
| Amara Raja Batteries | INE885A01032 | 10,378 |
| Eveready Industries | INE128A01029 | 2,115 |
| HBL Power Systems | INE292B01021 | 1,962 |
| Indo-National | INE567A01028 | 348 |
| High Energy Batteries | INE783E01015 | 332 |
| Panasonic Energy | INE795A01017 | 16 |
| Standard Batteries | INE502C01039 | 23 |
Best Battery Manufacturers in India
The Indian battery industry is expected to grow at a CAGR of around 17.23% during the period from 2019 to 2028. The growth of the industry is primarily driven by the increasing demand for automotive batteries from the automotive sector.
1. Exide Industries Ltd.
Exide Industries Limited is said to be the top in this business with total revenue of 9,186 Cr. The company was founded in 1947 by the Rajan Raheja Group and has its headquarters in Kolkata.
The company is currently leading under the management of CEO Gautam Chatterjee with Bharat Dhirajlal Shah as the Chairman of the company.
2. Amara Raja Batteries
Amara Raja Batteries is a subsidiary of Amara Raja Group established out of Hyderabad.
The company is led under the strong guidance of Ramachandra Naidu Galla (Chairman) and Galla Jayadev (Managing director). Amara Raja Group has a philosophy of uplifting rural populations and has committed to social activities in rural areas. They have come across specific schemes for safe drinking water. This company secures no. 2 on the list of battery manufacturers in India.
Amara Raja batteries work with multiple ventures like Amazon, Power Zone, Amaron Quanta, Galla, and Silver Lining Storage Solutions. The company offers a wide range of products from Automotive Batteries and Industrial Batteries.
3. Eveready Industries India Ltd.
Eveready Industries India Ltd. is at no. 3 in the top battery manufacturing companies in India with total revenue of INR 2,000+ Cr. The company was founded in 1905 and is a flagship company of the B. M. Khaitan Group based out in Kolkata.
The company is currently leading under the management of Aditya Khaitan as a non-executive Chairman with Amritanshu Khaitan as the MD of the company.
In 1992, Rediffusion Y&R introduced the ‘Give me Red’ tagline that Eveready Industry still uses. In 2004, the company achieved a milestone by signing Amitabh Bachchan as a brand ambassador for two years. Eveready Industries then launched another campaign for Eveready Ultima Batteries. It was an animation movie comprised of 3,000 photographs stocked back to back to give an illusion of a flicker book.
4. HBL Power
HBL Power is the next name on the list of the top battery companies in India. The company was founded in 1977 and is based out of Hyderabad.
The company is currently leading under the management of Jagadish Prasad Aluru the 74th Chairman and MD of the company.
The initial business strategy for the company was to fill in the technology gaps in India. The company initially worked with aircraft supplying batteries. The company has a global presence in the world covering America and Europe entirely.
5. Indo-National Limited – NIPPO
Indo-National Limited is another best battery manufacturers in India popularly known as Nippo. The company was founded in 1972 and is based out of Chennai.
The company recently appointed Mr. P. Dwarakanath Reddy as CEO and MD of the organization. The net income of the company in the last financial year crossed the mark of 6 Cr.
The company has expanded to 33 offices throughout the country and has 35 distributors, more than 2,800 stockiest, 900 vans, and 500 autos covering all over 5 lakh retail outlets in India. Therefore, they made their name on the list of the top 15 battery manufacturing companies in India. The first export that the company started was in Yemen in the year 1976 and also bagged a recent award of Best Management Award in the year 2010.
6. High Energy
High Energy Batteries (India) Ltd. was started in 1961 dealing in the Consumer Durables sector. The company established its headquarters in Tamil Nadu and expanded to working with the Indian Navy and Airforce.
The company is managed by leading personalities including Mr.N Gopalaratnam, Dr.G A Pathanjali, Mr.M Ignatius, and many more.
The company expanded its services to defense, auto, VRLA, and other batteries as well. The company worked on values such as Customer Focus, Ethical Practices, and Empowerment. The company has made its mark in the industry through continuous hard work and a positive attitude and achieved a position among the best battery companies in India.
7. Panasonic Energy
Panasonic Corporation, also known as Matsushita Electric Industrial Co., Ltd was founded by Kōnosuke Matsushita in 1918 as a light bulb socket manufacturer and is based out of Kadoma, Osaka.
Panasonic manufactures a wide range of products and services from rechargeable batteries to automotive and avionic systems. The company generated a revenue of 8.002 Trillion Yen in the year 2019 under the management of Shusaku Nagae as CEO the company. The company had a net profit of 3.1 billion Yen a year ago.
The company secures 7th spot on the list of battery manufacturers in India and has expanded its services worldwide and has multiple subsidiaries including Panasonic Avionics Corporation, Panasonic Electric Works, Universal Lighting Technologies, and many more.
8. Standard Battery Corporation
Standard Battery Corporation Ltd. has made its name in the top 15 battery companies in India. The company was established in the year 1945 and has become one of the leading lead-acid battery manufacturing units. The company then exited the market in 1998 and since then only engaged in the trading of goods.
The company is under the management of Mr. Pradip Bhar as Director of the firm and Mr. H. U. Sanghavi as General Manager. The company has its headquarters in Mumbai.
Final Words on Battery Companies in India
Now as you are well aware of the companies and their profile, I can surely say you are much more aware of how to put your investments and diversify them among the leading companies in this industry.
The current critical situation is to analyze the upcoming trend of these industries to understand the profit margin and how it can benefit its investors. Once, you are clear that you are good to go to invest and earn handsome returns from this industry.
These companies have been leading for years now and have already made a name in the global auto ancillary market. The main question here is what you think about these companies and how you will invest in them in the future.
