SPML Infra shares rose 2.48% to ₹177.60 in early trade on Friday, 4 September, up ₹4.29 from the previous close of ₹173.31. The stock opened at ₹173.60 and touched an intraday high of ₹181.20 after hitting a low of ₹172.38, against a 52-week low of ₹151.01. The stock traded with volume of around 1.04 lakh shares and currently trades at a trailing price to earnings multiple of about 17.2 on earnings per share of ₹10.34. The gains were supported by a key development in the company's Battery Energy Storage System (BESS) business, with the stock delivering impressive long-term returns of 388% over three years and an impressive 1,516.07% gain over five years.
SPML Infra announced that its proprietary 104.4 kWh battery pack, developed using the company's own intellectual property, has successfully completed key international safety, performance and transportation certification and testing requirements. The battery pack successfully completed requirements under UL9540A, IEC 62619, IEC 63056, IEC 60730, IEC 61000-6-2, and IEC 61000-6-4, together with UN38.3 certification at both the battery-pack and system levels. These certifications cover critical areas including thermal runaway safety, battery performance, system functional safety, electromagnetic compatibility and transportation safety, marking a key step toward commercial deployment. As per The Economic Times, the successful completion of certification and testing marks another step towards commercialisation of its BESS technology and manufacturing platform.
According to the company's announcement, SPML is establishing its BESS manufacturing and integration capabilities in Pune, Maharashtra, across battery pack assembly, engineering, system integration and large scale project execution. The company is developing its proprietary 104.4 kWh battery pack as part of its strategy to build indigenous technology and manufacturing capabilities to cater to India's rapidly growing grid-scale energy storage market. Abhinandan Sethi, Managing Director of SPML Infra Limited, stated that the validation of the proprietary battery pack represents an important milestone in SPML's energy storage journey, emphasizing that the development is particularly important as SPML is building its own technology and engineering capabilities, rather than focusing solely on manufacturing or project execution. The company views energy storage as a strategic extension of its power infrastructure capabilities, with demand expected to rise alongside renewable energy deployment for applications such as renewable integration, grid balancing, peak-load management and grid reliability.
As reported by Business Upturn, SPML Infra aims to build an integrated Indian energy storage platform spanning proprietary product development, manufacturing, system integration and large scale project execution. The company believes this combination could create significant long-term value as energy storage becomes an increasingly important part of India's power infrastructure. For a company with established EPC execution in power and water, combining proprietary product engineering with domestic manufacturing offers a differentiated route into India's emerging grid scale storage market. The milestone signals to investors that SPML is positioning itself within the push to localise critical BESS technology rather than rely on imports, aligning with the broader make in India and energy transition agenda. SPML Infra said it will continue to expand its energy storage technology portfolio to address the requirements of India's utility-scale BESS market.
According to SBI Securities, SPML Infra has been trading within a falling parallel channel on the daily chart, with the stock remaining below key moving averages, pointing to a weak technical setup. The MACD remains below the zero line, indicating a bearish bias, while the DI- on the ADX remains above DI+, suggesting that bears currently have the upper hand. Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, identified the ₹195–200 zone as a key resistance area, as it coincides with the channel's upper boundary and the previous swing high. He expects the stock to remain sideways to bearish as long as it trades below this resistance zone.
