Battery and storage exposure from cell plants to recycling, tiered by what is operating today versus committed for tomorrow.
Exide is a leading battery manufacturer with lead-acid as its core business across automotive, industrial, and new-energy segments.
“Exide stands as a leading player in battery manufacturing and energy solutions. We are driving innovation in lead-acid solutions with a diverse portfolio that serves a wide range of industries.”
Amara Raja is a principal battery business spanning lead-acid (automotive and industrial), lithium-ion cell manufacturing (16 GWh footprint), battery packs and BESS assembly (10 GWh capacity), plus battery recycling.
“the development of our Giga Corridor, progress on our lithium ion cell manufacturing facility, and the foundation stone laying of our Battery Energy Storage Systems (BESS) assembly plant stand as milestones in this ascent”
“Lithium deployment scale increased significantly during the year. Our LiB packs are now powering more than 50,000 telecom towers, taking cumulative installation base to 1 GWh within two years, with majority deployments executed during FY 2025-26 itself.”
“We have built leading positions in automotive and industrial energy storage through sustained investment in technology, manufacturing capabilities and market development.”
Hindalco operates a battery enclosure plant at Chakan (full ramp-up) and a battery foil plant at Aditya supplying global cell manufacturers, marking its participation in the energy storage ecosystem.
“the full ramp up of the Chakan battery enclosure plant are enhancing our presence in new-age applications such as electric vehicles, packaging, and aerospace. Additionally, the battery foil plant at Aditya has commenced supplies to global cell manufacturers, marking a milestone in our strategy to participate in the fast-growing energy storage ecosystem.”
CG's Drives & Automation division sells Emotron Power Conversion Systems and customized products specifically targeted at the Battery Energy Storage market.
“The division has also introduced Emotron Power Conversion Systems (PCS) tailored for the growing Battery Energy Storage market. These high-power converters provide flexible solutions designed to unlock the full potential of energy storage systems.”
Tata Power sells MySine battery storage products and is developing pumped storage (1,000 MW Bhivpuri) and BESS solutions as part of its energy portfolio.
“we launched MySine batteries, developed in partnership with TACO, providing a storage solution along with rooftop solar”
“In FY26, we secured our first standalone Battery Energy Storage Purchase Agreement (BESPA) from NHPC Limited for Kerala State Electricity Board Limited. The project involves the development of a 30 MW/120 MWh battery energy storage system in Kerala and marks a significant milestone in our energy storage journey.”
“Established a digital foundation for observability and monitoring of Battery Energy Storage Systems (BESS), enabling real-time insights, optimised dispatch, enhanced grid reliability, and support for renewable integration and peak demand management”
Operates a 5 GWh battery container assembly plant in Pune (operationalised) and has 3.2 GWh of locked-in BESS capacity, part of broader energy storage strategy.
“Battery Container Assembly Plant 5 GWh container plant operationalised at Pune”
“By 2030, the Company will create 40 GWh of energy storage and energy products.”
“Enhancing RE capacity, Battery Energy Storage Systems, Pumped Storage Hydro Power”
Group has built a 1,920 MWh BESS portfolio with first standalone 80 MW/320 MWh project under implementation in Kerala and a 250 MW solar+BESS project for defence land.
“The Group has also established a Battery Energy Storage Systems (BESS) portfolio aggregating 1,920 MWh as on 31st March 2026.”
APAR's Speciality Oils division is the leading global supplier of specially formulated oils used in manufacturing polymer battery separators, positioning it as a supplier to the battery components value chain.
“We are the major supplier of specially formulated oils for polymer battery separators globally.”
SUPERFORM supplies phosphorus derivatives as battery materials for energy storage applications and is actively pivoting its specialty chemicals portfolio toward advanced battery chemicals.
“Phosphorus: Largest phosphorus and phosphorus derivative handling capacity in India. Application across high-growth segments such as agrochemicals, advanced flame retardants, battery energy storage and lubricant additives.”
Voltas' Infrastructure Solutions has diversified into utility-scale BESS projects and aims to capture market share in green energy / BESS as a stated priority.
“Diversified the solar portfolio into utility-scale Battery Energy Storage Solutions (BESS), aligning with the evolving energy transition landscape.”
Ola Electric operates a Cell Gigafactory in Krishnagiri producing indigenous 4680 lithium-ion cells (Bharat Cell), with 51,000+ cells produced in trial phase and mass production approaching — a real but not yet main revenue driver.
“FY25 marked a major step forward in this strategy, with cell manufacturing nearing mass production at our Gigafactory in Krishnagiri.”
Manufacturing energy-storage system solutions as part of the Clean Energy vertical, with energy storage systems also listed as an in-development project.
“Clean Energy vertical is gaining momentum with progress in energy storage system solutions.”
V-Guard manufactures inverter batteries and is expanding its Hyderabad Batteries facility; it also raised its stake in Gegadyne Energy Labs to 30.35% for next-gen battery tech.
“In house manufacturing initiatives in Batteries and DUPS began yielding visible benefits during the year. In May 2025, we also initiated a major expansion at our Hyderabad Batteries facility.”
Has developed graphite speciality applications targeted at energy storage systems as a product line within its speciality carbon portfolio.
“The Company has also developed cost-effective applications of Graphite Specialities for use in energy storage systems, thereby expanding its product utility in emerging and sustainable energy-related applications.”
Battery Energy Storage Systems (BESS) execution is offered as part of KEC's Renewables EPC portfolio.
“Accelerating the global clean energy transition, we provide integrated EPC solutions across solar, wind, Battery Energy Storage Systems (BESS) and emerging green hydrogen infrastructure.”
“we are exploring opportunities in energy storage, where we have begun participating in tenders”
Manufactures LFP batteries and BESS units for railways, C&I, utility and residential use at Bengaluru, with initial direct BESS exports to the USA.
“We commenced the first direct export of advanced Battery Energy Storage Systems (BESS) to the USA, backed by a strong order book through December.”
The company has set up subsidiary VSL PowerHive with VION LFP brand products (residential UPS, C&I cabinets, utility-scale containerised BESS, e-mobility packs) and a phased roadmap to 30 GWh of integrated BESS capacity by FY30.
“We are establishing BESS as a solutions-led extension of our energy platform through our subsidiary VSL Powerhive Pvt Ltd.”
“The Board-approved Phase-1 investment into Battery Energy Storage Systems marks a strategic, measured entry into an adjacent segment that complements our core manufacturing strengths.”
BESS is offered alongside solar/wind/hybrid projects as part of current solutions to mitigate intermittency, but no dedicated BESS capacity or revenue is disclosed yet.
“We provide solar, wind, hybrid energy solutions coupled with BESS which are designed to mitigate intermittent generation of standalone projects, and further broadening our service offerings.”
“KPI Green Energy is developing a 5 MW captive BESS project and actively bidding in related tenders to strengthen grid resilience and project value.”
“establish, develop, own, acquire, operate, maintain, lease, transfer, manufacture, trade, or deal in Battery Energy Storage Systems (BESS), energy storage technologies and associated infrastructure”
Launched a complete range of cooling fluids for Battery Energy Storage Systems (BESS) in 2025 as a new product line within its specialty fluids portfolio.
“2025 Launched Complete Range of Cooling Fluids for BESS and EVs.”
Under the INVERGY brand the company sells and contract-manufactures LFP batteries alongside hybrid solar inverters as a real product line within its solar business.
“we sell hybrid solar inverters and lithium ferro phosphate (LFP) batteries. INVERGY deals in OEM manufacturing for hybrid and LFP products.”
Susten has identified Battery Energy Storage Systems as an emerging solution and is positioning to enter the segment alongside its solar and wind portfolio.
“This lays the foundation for Susten to scale further and make inroads into emerging solutions such as Battery Energy Storage Systems.”
POWERGRID has secured its first Battery Energy Storage System (BESS) project in Andhra Pradesh and is exploring further opportunities in energy storage.
“The Company also expanded into energy storage by securing its first-ever BESS project, in Andhra Pradesh.”
Lists zinc-nickel batteries within its value-added product portfolio as an energy storage product innovation; scale/revenue contribution not disclosed.
“Zinc-nickel batteries An energy storage product innovation”
Coal India has secured BESS projects in Odisha and Telangana as part of its diversification into next-generation power infrastructure, but these are not yet operational.
“It also secured Battery Energy Storage System projects in Odisha and Telangana, strengthening its presence in next-generation power infrastructure.”
Energy storage (including BESS) is identified as an emerging market the company is actively exploring to build presence, with no stated current revenue.
“Exploring emerging markets such as data centers, HVDC, renewables, EV charging, energy storage (PSP and BESS) and green hydrogen and enhancing presence in them.”
Polycab has announced plans to launch Battery Energy Storage Systems (BESS) and hybrid inverters as part of its FY26-27 solar portfolio expansion, with no current revenue yet.
“we will expand our product portfolio with the launch of Hybrid Inverters and Battery Energy Storage Systems (BESS) to strengthen our presence in the emerging distributed energy and backup power sectors.”
Ashok Leyland is building its own battery pack manufacturing plant near Chennai to support its EV business, but no commercial battery production revenue exists yet.
“During the fourth quarter, we broke ground on a greenfield battery pack manufacturing facility at Pillaipakkam near Chennai.”
Investing in a 3.5 GWh lithium-ion battery cell plant and has secured a 40 MWh BESS LOI, but no commercial battery-storage revenue yet.
“we are investing in a 3.5 GWh lithium-ion battery cell plant to support storage-integrated EPC and hybrid projects, while also securing a 40 MWh BESS LOI from Continuum Green that underscores our capabilities in despatchable renewable energy.”
“Battery Storage: 3.5 GWh capacity to be operational by 2026-27”
Torrent Power has a contracted BESS component (112.5 MW / 450 MWh) embedded in its first FDRE project, representing a committed but not yet operational battery storage deployment.
“First FDRE project secured under competitive bidding: 250 MW contracted with own licensed DISCOM at ₹4.87 per unit, combining approximately 500 MWp (solar and wind), along with 112.5 MW/ 450 MWh Battery Energy Storage System (BESS)”
NLCIL has won a 250 MW/500 MWh BESS project in Tamil Nadu via subsidiary NIRL and is pursuing similar projects in other states — committed but pre-revenue.
“Through its subsidiary NIRL, NLCIL has won a 250 MW/500 MWh Battery Energy Storage System project in Tamil Nadu and also pursuing for the same in other States as well.”
Battery storage is at announced stage: MTAR delivered its first prototype enclosure to Fluence and is in discussions for mass production orders, with no revenue yet.
“The Company has forayed into battery storage systems equipment manufacturing and successfully delivered its first proto unit of enclosures to Fluence, marking a significant milestone in diversifying its clean energy portfolio and tapping into adjacent growth markets.”
Battery Materials is listed as one of AIL's emerging/new value-chain opportunities alongside other adjacencies, indicating planned/announced entry rather than current revenue.
“Emerging Value Chains and Sector Opportunities With our integrated chemistries and multi-purpose manufacturing backbone, Aarti Industries Limited is well-positioned to evolve into newer value chains that complement our core capabilities. Battery Materials Advanced Polymers & Additives Electronic Chemicals New Agrochemical Chains Green Chemistry Intermediates”
“we reinforced our leadership by diversifying our customer base ,expanding into new geographies and strategic partnerships in battery materials, electronic chemicals, and speciality chemicals.”
The company has signed an LOI with Elementium Materials to supply fluorinated specialty chemicals for EV lithium-ion battery electrolytes, with deliveries beginning late FY26 — no revenue recognized yet.
“we signed a letter of intent with Elementium Materials, a US-based battery electrolyte Company, to supply advanced chemicals for electric vehicle (EV) battery electrolytes. Leveraging our expertise in chemical production, we will deliver this high-demand product starting late FY26”
TCL is developing battery-grade lithium carbonate recovery and sodium-ion battery technology as R&D initiatives, and lists 'Battery and energy materials' among its target end markets, but there is no stated revenue or commercial production yet.
“Developed a commercially scalable process enabling recovery of battery-grade lithium carbonate with purity ≥ 99.5%.”
“Advanced battery-grade lithium carbonate recovery (>99.5% purity)”
Through 51%-owned JV Nanovace Technologies, PCBL is developing nano-silicon anode materials for lithium-ion batteries; pilot plant under construction in Palej targeting commissioning by end-2025, with no revenue yet.
“PCBL entered the battery materials space through Nanovace Technologies Limited, a joint venture with Kindia (Australia). This IP-led initiative is developing low-cost nano-silicon materials for lithium-ion battery anodes using a proprietary, single-stage electrochemical process. A pilot plant is under construction in Palej, with commercialisation planned ahead.”
MGL has set up a JV with International Battery Company Inc. USA to establish a lithium-ion battery cell manufacturing plant in India (1 GWh, scalable to 5 GWh), creating optionality in mobility and BESS for grid-scale storage.
“MGL formed a Joint Venture company with International Battery Company Inc. USA to establish a lithium-ion battery cell manufacturing plant in India.”
BESS capacity is committed via subsidiary PPAs (1,860 MWh with SECI and 4,000 MWh via SJVN-awarded projects), integrated with solar capacity, but no BESS revenue yet.
“Reliance NU Suntech Private Limited, a wholly owned subsidiary of the Company (WOS) has signed a Power Purchase Agreement with Solar Energy Corporation of India (SECI) to supply 930 MW of solar power integrated with 465 MW/1,860 MWh Battery Energy Storage System (BESS).”
Battery storage is mentioned only as a planned clean-energy expansion area with no current operations or revenue disclosed.
“the Company is planing to strategically expand into high-growth areas such as defence manufacturing and clean energy solutions, including solar and battery storage, in alignment with national priorities.”
Batteries are cited only as an emerging growth area the company expects to benefit from, with no stated manufacturing, BESS or materials exposure.
“emerging opportunities in semiconductors, batteries and green hydrogen.”
Storage is included in Suzlon's new RE Tech brand architecture but no energy storage products, BESS capacity, or storage revenue is described in the opening section.
“RE Tech: Wind | Storage | Solar”
Definition used: Manufactures battery cells/packs or energy-storage systems, operates BESS capacity, or supplies battery materials and recycling.Membership is extracted from each company’s newest annual report; every quote is validated against the report page before publishing, and core/growing tiers are confirmed by a second independent read (marked ). Companies whose reports our corpus hasn’t read yet simply aren’t listed — absence means unread, not “no exposure”.
MarketPing publishes facts, filings and measured history only — nothing on this page is investment advice, a recommendation or a rating.
