Batteries & Energy Storage

Battery and storage exposure from cell plants to recycling, tiered by what is operating today versus committed for tomorrow.

Core — the theme IS a principal business todayGrowing — real operations, not yet the main businessAnnounced — committed plans or orders, little revenue yetMention-only — appears only as outlook language
HikalPharmaceuticalsMention-only₹2,624 CrROCE -4.6%

Hikal lists 'Electronic and battery chemicals' as a specialty chemicals offering under Crop Protection, with no further detail on products, capacity or customers.

“Specialty chemicals −Personal care products −Biocides −Electronic and battery chemicals −Homecare”

Hikal Ltd - 524735 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 13
Nalwa Sons InvestmentInvestment CompanyMention-only₹2,602 CrP/E 45.2 vs 21.5

Indirect exposure via 99.99% subsidiary Jindal Steel & Alloys Ltd, which is described as undertaking activities relating to batteries (alongside steel as its principal business); no revenue or project details provided.

“The Company is also involved in the development and operation of industrial, infrastructure and energy projects, and undertakes activities relating to mining, automobiles, electric vehicles, batteries, real estate development, commodity trading and strategic investments.”

Nalwa Sons Investments Ltd - 532256 - Annual Report For The Financial Year 2025-26 Including Notice Of The 55Th Annual General Meeting Pursuant To Regulation 30 & 34 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015('SEBI Listing Regulations'). · Sept 2026 · p. 23
J.g.chemicalsCommodity ChemicalsMention-only₹2,507 CrP/E 33.4 vs 18.9ROCE 16.9%

JG Chemicals lists zinc oxide for batteries (extending service life, increasing energy density) as one of 25+ served applications, but strategic commentary explicitly describes it as an early, non-material position still waiting for demand to mature.

“Speciality chemicals, batteries and electronics wait further out. Early positions, held until their demand matures.”

J.G.Chemicals Ltd - 544138 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 13
Excel IndustriesSpecialty ChemicalsMention-only₹1,158 CrP/E 16.2 vs 24.3ROCE 5.2%

Battery Chemicals are listed as one of several downstream application areas where the company's Yellow Phosphorus derivatives could be used; no dedicated battery-materials business, capex or revenue is indicated.

“These are used as building blocks for production of compounds in diverse end use applications including Lube Oil Additives, Flame Retardants, Battery Chemicals, Pharmaceutical Intermediates etc.”

Excel Industries Ltd - 500650 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 12
OM Power TransmissionCivil ConstructionMention-only₹563 CrP/E 17.1 vs 14.6ROCE 36.3%

The company identifies battery energy storage and grid-scale BESS evacuation infrastructure as a future business direction, without disclosing current storage revenue, orders or committed projects.

“Over time we intend to widen the Company from a power infrastructure EPC business into an EPC partner for power generation and battery energy storage as well, and a subsidiary, OPTL Green Energy Private Limited, has been proposed to pursue the renewable segment.”

Om Power Transmission Ltd - 544750 - Notice Of 15Th Annual General Meeting Along With Annual Report For The Financial Year 2025-26 · Sept 2026 · p. 10
Cospower EngineeringIndustrial ProductsMention-only₹525 CrP/E 36.0 vs 28.5ROCE 34.5%

BESS is listed only as a future portfolio-adjacent area the company is exploring to complement its power-quality offering, with no current products, orders or revenue.

“We also continue to explore opportunities to expand our portfolio through complementary technologies and strategic collaborations in areas such as Static VAR Generators (SVGs), Battery Energy Storage Systems (BESS) and Transformers, enabling us to offer customers a broader and more integrated range of power quality solutions.”

Cospower Engineering Ltd - 543172 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 4
Autoline IndustriesAUTOINDMention-only₹367 CrP/E 9.2ROCE 13.1%

AEMPL is evaluating battery-system opportunities, but no battery manufacturing, storage operations or committed battery project is disclosed.

“At the same time, AEMPL continued to evaluate opportunities in e-bicycles, battery systems and related mobility applications aligned with evolving market requirements.”

Autoline Industries Ltd - 532797 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 30
Tiger LogisticsTIGERLOGSMention-only₹264 CrROCE -37.1%

Aspirational outlook language about building BESS logistics capabilities, no current operations or revenue in batteries/storage.

“The Company is leveraging its expertise in solar logistics to build capabilities in the rapidly emerging Battery Energy Storage System (BESS) segment and Electric Vehicles, which is expected to play a pivotal role in India's clean energy transition.”

Tiger Logistics (India) Ltd - 536264 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 13
Sharika EnterprisesTrading & DistributorsMention-only₹91 CrROCE -50.1%

BESS is positioned only as an emerging market opportunity where Sharika's automation capabilities could find future participation; no current revenue or committed projects.

“The growth of grid-scale Battery Energy Storage Systems is expected to create new requirements for advanced control, energy management, dispatchability and grid flexibility.”

Sharika Enterprises Ltd - 540786 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 19
Calcom VisionConsumer ElectronicsMention-only₹87 CrP/E 69.7 vs 31.1ROCE 2.5%

Calcom has built in-house battery pack assembly and testing capability, but it is referenced as supporting its own lighting products (solar street lights, emergency lighting) rather than as a standalone battery business.

“we have diversified our operations across dedicated battery pack manufacturing with charging, grading and testing capabilities.”

Calcom Vision Ltd - 517236 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 15
Promax PowerCivil ConstructionMention-only₹29 CrP/E 32.1 vs 14.6

Battery energy storage and solar-plus-storage are listed as strategic priorities, but the text frames them as future opportunities being evaluated, with no committed capex, orders or revenue disclosed.

“The Company is evaluating opportunities in battery energy storage systems, including solar-plus-storage solutions.”

Promax Power Ltd - 543375 - Announcement Under Regulation 30 (LODR) - Notice Of 9Th AGM Along With Annual Report 2025-26. · Sept 2026 · p. 9

The company has installed a captive Battery Energy Storage System (BESS) at its own assembly unit solely for internal power consumption optimisation, with Rs. 38.10 lakhs capital investment — not a BESS business line.

“The company has installed BESS (Battery Energy Storage System) and LED lights at the assembly unit which shall optimise the power consumption.”

Leapfrog Engineering Services Ltd - 544797 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 35
Liotech IndustriesMention-only

Battery storage is mentioned only in proposed MoA amendment as a future technology area; no current storage operations.

“to undertake renewable and conventional energy projects including solar, wind, hydro, hydrogen, battery storage and related technologies”

Liotech Industries Ltd - 544796 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 17
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How this list is built

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.