India's electric-vehicle revolution is creating significant opportunities beyond vehicle manufacturers, with batteries emerging as a critical component of the ecosystem. According to reports from Equitymaster.com, as EV adoption increases, demand for lithium-ion cells, battery packs, advanced energy-storage systems and critical battery materials is expected to grow substantially. Indian companies are investing in new battery technologies, manufacturing capacity, and supporting infrastructure to reduce dependence on imports and capture a larger share of this emerging market. The global vehicle ownership market is projected to grow significantly through 2035, driven by electrification trends and aftermarket demand for replacement parts and services.
Exide Industries Ltd is one of India's largest battery companies with over seven decades of operating history, now investing heavily in lithium-ion technology. As reported by Equitymaster.com, Exide Energy Solutions, a wholly owned subsidiary, is engaged in lithium-ion cells, modules and battery packs with applications across electric vehicles and stationary energy storage. The company's new Bangalore gigafactory has equipment across all four production lines delivered, installed and fully operational, with the first NCM cylindrical line commencing customer sample deliveries and the LFP prismatic line starting sample supplies for three-wheeler and telecom applications.
According to Equitymaster.com, Exide Industries reported revenue of ₹5,528.4 crore for Q1 FY27 versus ₹4,695.1 crore year-on-year, with net profit at ₹350.7 crore compared to ₹274.2 crore on-year. The automotive OEM business marked its third consecutive quarter of 25% year-on-year growth, while home inverters and solar grew over 20% aided by strong summer demand. The company expects revenue contribution from the Bengaluru plant to commence during FY27.
Amara Raja Energy & Mobility Ltd has evolved from a lead-acid battery manufacturer to a comprehensive energy solutions provider, now investing in battery packs, cell technologies, energy storage solutions, recycling and power electronics. As reported by Equitymaster.com, the company achieved robust growth of around 24% on a consolidated basis with revenue of approximately ₹4,215 crore in Q1 FY27, with about 95% coming from lead-acid business. The new energy business grew by more than 70%, recording revenue of around ₹209 crore, with the company maintaining a combined market share of over 60% in the telecom segment.
Ola Electric Mobility Ltd is pursuing a vertically integrated EV strategy, developing vehicles, motors, battery packs, software and battery cells in-house. According to Equitymaster.com, the company's gigafactory is operational with 6 GWh capacity, supporting deeper own-cell integration across vehicle portfolio while enabling external demand across energy storage and specialized applications. The 4680 NMC Bharat Cell is commercially deployed across performance two-wheelers, while the 46100 LFP cell has received BIS certification and is vehicle-ready for mass-market applications.
Hindalco Industries Ltd is a major aluminium and copper producer supporting the EV transition through innovative solutions in electric vehicles and energy storage systems. As reported by Equitymaster.com, the company began producing battery foils in 2018 and forayed into EV and ESS market in 2022 with battery foils for high mechanical strength and conductivity. Hindalco has committed to investing $100 million to establish a cutting-edge facility with annual production capacity of 25,000 tonnes, supporting 100 GWh of lithium-ion cell production.
