Top 2 Battery Stocks in India to Watch in 2024

We’re living in a time when electric vehicles (EVs), clean energy, and advanced storage solutions are no longer futuristic dreams—they’re part of our everyday lives. You’ve probably noticed more EVs zipping through traffic, and chances are, your smartwatch or smartphone runs on a lithium-ion battery. But here’s something you might not have thought about: all of this relies on strong, trustworthy battery manufacturers.

If you’re looking to invest in the future, battery stocks might just be your golden ticket. And guess what? India has a few standout companies that are leading the charge. In this post, we’ll break down the top two battery stocks in India that are worth watching in 2024. So let’s get started—no jargon, no fluff, just simple, straight talk.

Why Are Battery Stocks a Big Deal Right Now?

Batteries power our world—literally! From smartphones to electric scooters to giant solar setups, batteries are everywhere. As India moves towards solar energy, EVs, and better energy storage, the demand for durable and efficient batteries is growing fast.

Governments are offering subsidies, more people are switching to electric alternatives, and awareness about clean energy is on the rise. In fact, India’s battery market is expected to explode over the next few years—making now a smart time to keep an eye on related stocks.

Top Battery Stocks in India for 2024

Now, let’s dig into two Indian companies making a big impact in the battery industry. These businesses have been around for decades and are constantly evolving to meet future demands.

1. Amara Raja Energy & Mobility Ltd.

If you’ve ever driven a car in India, there’s a good chance it ran on an Amaron battery. That’s one of the flagship products from Amara Raja Energy & Mobility, previously known as Amara Raja Batteries. Founded in 1985 and part of the Amara Raja Group, this company has grown into one of India’s top battery manufacturers.

Here’s why Amara Raja is worth watching:

• Diversified Portfolio: They make batteries for automotive, telecom, UPS systems, and industrial use.
• Strong Brand Value: Their Amaron brand is one of the most trusted in the industry.
• Stepping into Lithium-ion: With the rise of EVs, they’ve started focusing on lithium-ion battery tech, which shows long-term vision.
• Global Footprint: They’re not just in India—Amara Raja exports to 50+ countries worldwide.

On the financial side, the company has shown consistent growth. In FY23, their revenue reached ₹10,388 crore with a profit of ₹694 crore. That’s a decent jump and speaks to good management and demand in the market.

Looking ahead: Amara Raja is investing heavily in future-ready projects, including a new gigafactory for lithium cells and packs in Telangana. This means they’re not just riding current trends—they’re preparing for what’s next.

2. Exide Industries Ltd.

Next up is a household name—Exide. If you’ve ever seen a battery ad on TV, you’ve likely heard of them. Established in 1947, Exide Industries has been one of the pioneers in India’s battery ecosystem for over 75 years.

So what makes Exide a top contender?

• Diverse Customers: Exide provides batteries for cars, trucks, two-wheelers, railways, defence, and even submarines.
• Manufacturing Capacity: Operating out of ten plants across India, they have significant production muscle.
• EV Market Entry: Through their subsidiary, Exide Energy, they’ve committed to investing over ₹6,000 crore into lithium-ion battery tech.
• Technology Partnerships: They’ve partnered with tech leaders to enhance their lithium battery capabilities, showing a smart, long-term approach.

The financial numbers also back their strength. Exide posted income of ₹3,733 crore in Q3 FY24, with strong performance across its segments. More importantly, their commitment to building a lithium-ion cell manufacturing plant in Bengaluru signals that they’re adapting to the EV revolution—not getting left behind.

What Makes These Stocks Attractive?

Let’s be honest—investing can be confusing. So here’s the simple reason why both Amara Raja and Exide are eye-catching options today:

• Strong Track Record: They’ve been reliable players for decades, with steady growth and quality products.
• EV Boom: India’s EV push will need huge amounts of advanced batteries. These companies are gearing up to fill that gap.
• Forward-Looking Investments: Both are pumping money into lithium-ion technology, which is the future of energy storage.

Should You Invest in Battery Stocks?

Good question! Like any investment, there are pros and cons. Battery stocks could ride the massive wave of demand from EVs and renewable energy. But remember—markets fluctuate, and new tech always comes with risk.

If you’re thinking long-term and want to tap into India’s fast-growing clean energy sector, these stocks could offer good potential. But don’t jump in blind. Be sure to do your homework, consult an expert, and make investment decisions based on your goals.

Final Thoughts

Batteries might seem like boring boxes we shove into gadgets and vehicles. But in reality, they’re powering some of the biggest technological shifts of our time. Companies like Amara Raja and Exide Industries are not just keeping up—they’re leading the way in India’s battery revolution.

As we look to 2024 and beyond, keeping an eye on these battery leaders could open up exciting investment opportunities. After all, in a world that’s running on electric dreams, someone’s got to charge the future—why not invest in it?

Disclaimer: This blog is for educational and informational purposes only. It’s not financial advice. Always do your own research or consult with a licensed financial advisor before making any investment decisions.