Battery Stocks and Companies in India

The largest Battery stocks in India by market value are Exide Industries (₹31,315 crore), Amara Raja Energy & Mobility (₹13,344 crore) and CLN Energy (₹410 crore), at prices of 4 Nov 2026.

• Exide Industries: ₹368.40 | market value ₹31,315 crore | P/E 33.4
• Amara Raja Energy & Mobility: ₹729.10 | market value ₹13,344 crore | P/E 18.3
• CLN Energy: ₹380 | market value ₹410 crore | P/E 20.0

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 4 Nov 2026; the score list below uses the weekly figures.

All 3 listed Indian Auto Ancillaries - Batteries companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Auto Ancillaries - Batteries index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. One large company cannot set the reading.

1. Exide Industries Ltd₹28,500 cr
2. Amara Raja Energy & Mobility Ltd₹12,600 cr
3. CLN Energy Ltd₹408 cr

3 Battery companies in the Auto Ancillaries - Batteries industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 3 are listed below, largest first. The largest is Exide Industries (₹28,518 crore) and the smallest with a market value is CLN Energy.

Download all 3 Battery companies (CSV)

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 12% behind NIFTY 500. Earnings across its companies fell 1% on average over the last four reported quarters.

0 of 3 companies pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Not ahead of NIFTY 500 on the three-month view this week; 1 of the 3 companies in the industry index above their 200-day average (1 fewer than four weeks earlier); 0 of those 3 pass the momentum test (1 fewer than four weeks earlier); earnings rising at 3 of the 3 that report earnings.

Not ahead of NIFTY 500, not building participation, not giving any back. Earnings confirming, 3 of 3 members have higher trailing twelve-month earnings than a year ago.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of its 3 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

Auto Ancillaries - Batteries has done worse than the NIFTY 500 by 11.5% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 16.9%. Exide Industries Ltd is the strongest against the sector itself at +2.3%.

Auto Ancillaries - Batteries has done worse than the NIFTY 500 by 11.5% over 52 weeks and by 16.9% over 13 weeks. 0 of 3 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months), and 1 of the 2 with a long enough price history is ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

Amara Raja Energy & Mobility Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 79.3% evidence confidence.

Ranked last: too little evidence (1 company)

Under 60% of the evidence behind this score is available, so it ranks after every company above, whatever the score.

Exide Industries Ltd has the strongest one-year price move in Auto Ancillaries - Batteries at −12.1%. It also leads on relative strength against the NIFTY, at −6.0%. 0 of 3 companies we track are ahead of the index on that measure. Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Auto Ancillaries - Batteries itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

Depressed and still-falling margins with a price that has already washed out once and just turned up, a real turn beginning, but not yet confirmed by the margin. In the week of 17 August 2026, 100% of 3 Auto Ancillaries - Batteries companies were beating the Nifty 500, against 0% on 6 April 2026.

From our industry review of 22 August 2026. A newer review (10 October 2026) did not cover Auto Ancillaries - Batteries, so this is the latest we have.

2 of 2 Auto Ancillaries - Batteries companies held a results call for April to June 2026. Amara Raja Energy & Mobility guided: Further price increases of 2-3% across product segments in the current month.

From the results calls for April to June 2026.

Big funds, foreign and Indian, kept their stake about the same over the last two quarters. Founders and promoters kept theirs about the same.

• Spending on new plants and equipment was ₹2,479 crore in the last 12 months, 20% less than a year before.
• Projects still being built grew 19% in a year.

Big funds = foreign and Indian institutions, change in their share of ownership across 4 Auto Ancillaries - Batteries companies, in percentage points.

Ownership and spending as of 10 October 2026.

Exide recognises its first commercial cell revenue from the Bengaluru plant AND discloses a full-scale production yield above 70%, in the same print, while the sector's operating margin stops falling and turns up from 10.63%.

From our industry review of 22 August 2026.

Exide Industries Ltd has the highest Revenue among the 3 Auto Ancillaries - Batteries companies compared here, at ₹18,829 crore. Amara Raja Energy & Mobility Ltd is next at ₹14,628 crore. Amara Raja Energy & Mobility Ltd has the highest Revenue growth at 12.7%, so level and change sit with different companies.

What the numbers say: Exide Industries Ltd is the largest at ₹18,829 crore, 28.7% ahead of Amara Raja Energy & Mobility Ltd. Amara Raja Energy & Mobility Ltd's growth is 12.7% from a ₹14,628 crore base, with 15 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Exide Industries Ltd is the size to compare against; Amara Raja Energy & Mobility Ltd is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

This conclusion weakens if: Exide Industries Ltd's growth falls below Amara Raja Energy & Mobility Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

CLN Energy Ltd has the highest OPM among the 3 Auto Ancillaries - Batteries companies compared here, at 11%. The same company also has the highest Margin change, at +1 percentage points. 3 of 3 companies report a comparable reading, the latest through Mar 2026. Its OPM series carries 4 reported observations across the 20-quarter window.

What the numbers say: CLN Energy Ltd leads both opm at 11% and margin change at +1 percentage points.

What this means: CLN Energy Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

Exide Industries Ltd has the highest Net profit among the 3 Auto Ancillaries - Batteries companies compared here, at ₹937 crore. Amara Raja Energy & Mobility Ltd is next at ₹921 crore. The same company also has the highest Profit growth, at 9.7%. 2 of 3 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Exide Industries Ltd earns the most, ₹937 crore of profit over the last 12 months, 1.7% above Amara Raja Energy & Mobility Ltd. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: Exide Industries Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

CLN Energy Ltd has the highest ROCE among the 3 Auto Ancillaries - Batteries companies compared here, at 22.5%. Amara Raja Energy & Mobility Ltd is next at 12.2%. Exide Industries Ltd has the highest ROCE change at −0.2 percentage points, so level and change sit with different companies.

What the numbers say: CLN Energy Ltd leads ROCE at 22.5%, 10.3 percentage points above Amara Raja Energy & Mobility Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: CLN Energy Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

Return on capital · company comparison

Withheld from this chart: Amara Raja Energy & Mobility Ltd (ARE&M): its two data sources disagree by up to 23% on reported income across 15 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

Exide Industries Ltd has the lowest PEG among the 3 Auto Ancillaries - Batteries companies compared here, at 4.78×. Amara Raja Energy & Mobility Ltd has the lowest P/E at 17.2×, so level and change sit with different companies. 1 of 3 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

Valuation · company comparison

PEG · lowest PEG

P/E · lowest P/E

All-company data · latest reported quarter

Auto Ancillaries - Batteries companies show up on 2 of our India lists. The most are on the small & mid cap stocks list (2 companies).

This Auto Ancillaries - Batteries comparison names 6 specific ways its own evidence can mislead, all listed below. All 3 companies here report on comparable dates, so no rank carries a stale marker. 1 has second-source figures left out because the two sources disagree. 3 of the 5 ranked sections have fewer than three usable current readings.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
• 1 company is missing from the second-source figures on purpose: the two sources disagree, so nothing from the second is drawn. Those rows have less evidence; that does not make the business weaker.
• Thin comparisons: Revenue, Net profit, Valuation have fewer than three usable current readings.

This comparison is built from the reported filings of 3 Auto Ancillaries - Batteries companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 30 October 2026.

1 of 3 companies has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Amara Raja Energy & Mobility Ltd (ARE&M): its two data sources disagree by up to 23% on reported income across 15 comparable periods, so its derived ratios are withheld.

These 23 answers restate the Auto Ancillaries - Batteries comparison above in question form. Every one is computed from the same 3 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.