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