The battery energy storage systems (BESS) sector has experienced significant corrections from its peaks, creating opportunities for investors to evaluate quality names. According to reports from Equitymaster, while the clean energy story continues to evolve rapidly, many BESS stocks have fallen due to supply constraints, operational challenges, and broader market weakness. However, the long-term relevance of this space remains intact as India pushes aggressively towards renewable energy, with the need for efficient energy storage only expected to grow. Recent market analysis reveals that large ground energy storage inverter systems are experiencing substantial growth, with the global market valued at USD million in 2025 and projected to reach USD million by 2034, growing at a CAGR of % during the forecast period 2025-2034.
Rajesh Exports has entered the BESS space through its subsidiary ACC Energy Storage, which is part of the ACC PLI scheme and is establishing one of India's first large-scale Advanced Chemistry Cell gigafactories. As reported by Equitymaster, the company is currently focusing on building lithium-based battery manufacturing for EVs and stationary storage, with operations shifting from planning to execution and commercial scale. The company's core business involves importing gold and manufacturing jewelry, with operations across Bangalore, Cochin, and Dubai facilities having an aggregate capacity of 350 tonnes per annum.
Prostarm Info Systems operates in designing, manufacturing, and selling energy storage and power conditioning equipment, including UPS systems, inverters, lithium-ion battery packs, and voltage stabilizers. According to Equitymaster, the company has demonstrated exceptional growth with sales and net profit growing at a CAGR of 27% and 39% respectively, while ROE and ROCE have averaged 29% and 41% during the same period. The company maintains presence across 18 states with 22 branch offices and two storage facilities, providing strong revenue visibility through its established clientele and robust order book.
Indo National, established in 1972, has been manufacturing batteries, LED products, and electrical accessories while maintaining over 3,200 distributors across India. As reported by Equitymaster, the company entered the EV battery and e-waste recycling market in November 2024, along with home-care battery launches. Over the past five years, while overall sales showed marginal growth, net profit has grown at a CAGR of 64%, with five-year average ROE and ROCE standing at 11% and 16% respectively. The company operates through subsidiaries including Kineco and Kaman Composites India, positioning it for potential benefits as demand-supply equations turn favorable.
Panasonic Energy, part of Panasonic Corp, is a certified manufacturer of dry cell batteries and lighting products with most business coming from domestic operations. According to Equitymaster, the company's sales and net profit have grown at a CAGR of 6% and 30% respectively over the past five years, though nominal sales growth was affected by stalled production of R20 and R14 batteries post March 2021 due to inadequate domestic demand. The company operates across four battery segments with strong fundamentals, and any strategic push towards advanced energy storage solutions could act as a meaningful trigger for investors monitoring its product mix adaptation to evolving energy needs.
