Latest news with #Exide
Mint
24-05-2025
- Business
- Mint
Charge up your watch list with these five battery storage stocks
Picture this: your phone runs out of battery, but you have a power bank handy to keep it going. Now, imagine the same concept but on a much larger scale—for the entire electricity grid. That's exactly what a battery energy storage system (BESS) does. Acting like a giant power bank, a BESS stores surplus electricity generated from renewable sources during periods of low demand and releases it when demand peaks. By bridging this gap, such a system makes renewable energy more reliable and ensures power availability around the clock. Recognising its importance, the Indian government is actively supporting BESS adoption through initiatives such as viability gap funding (VGF) and production-linked incentive (PLI) schemes. As India's energy needs continue to rise, the demand for efficient storage solutions is set to surge. With that in mind, we've shortlisted five battery energy storage system (BESS) stocks for your watch list. #1 Exide industries Exide is a leading manufacturer of lead-acid batteries, storage batteries, and allied products in India. It recently launched Exide BESS with the aim of meeting sustainability goals and significantly reducing its carbon footprint. For this it is investing heavily in research and development (R&D) and has adopted the advanced absorbent glass mat (AGM) and tubular gel batteries for BESS applications. Exide Industries aims to offer customised solutions to commercial, industrial and retail users to ensure uninterrupted power supply and reduce electricity costs. Given the increasing adoption of renewable energy, the company is positive about the growth of its BESS solutions. #2 Oriana Power The company provides renewable energy services on an engineering, procurement, and construction (EPC) and build, own, operate, transfer (BOOT) basis. It offers low-carbon energy solutions involving on-site solar project installations such as rooftop and ground-mounted systems, and off-site solar farms. The company recently diversified into BESS, compressed biogas and green hydrogen, and has won auctions for standalone BESS projects in Karnataka, Telangana, and Assam. So far, the company has delivered over 254 MW of projects and has more than 1,500 MW worth of projects in the pipeline, of which 300 MWh are BESS projects. It's rapidly scaling its BESS solutions business, aiming to derive 10-20% of next year's revenue from it. It aims to become a key player in BESS with a total capacity of 3.5 GWh by 2030. #3 Tata Power Tata Power is India's largest integrated power company. It generates, transmits and distributes electricity, and also manufactures solar roofs and builds electric vehicle (EV) charging stations. Tata Power is a pioneer in adopting BESS technology, having set up a facility in 2019. Ever since, it has made efforts to develop and adopt best practices in operation and maintenance. The company has also developed facilities for in-house repair of BESS equipment, which brings with it the benefits of self-sufficiency and reduced costs. Also read: Tata Power's solar cell plant fuels Q4 earnings, sets stage for FY26 growth In February it signed a memorandum of understanding (MoU) with ONGC to explore joint opportunities in the BESS value chain. In April the company announced that it would install a 100 MW BESS in Mumbai over the next two years. It also plans to integrate BESS at its renewable sites to enable a round-the-clock supply of clean power. In May 2024, its subsidiary commissioned India's largest solar and battery energy storage project, comprising a 100 MW solar photovoltaic (PV) project and a 120 MWh utility-scale BESS. #4 Gensol Engineering Gensol is in the business of solar consulting and EPC. It also offers 100% EV-focussed leasing solutions and manufactures EV sitself. It has expanded its offerings over the years to include ground-mounted and rooftop solar power plants, solar tracker technology, and BESS. In 2024 it won Gujarat Urja Vikas Nigam's (GUVNL) auction to set up pilot projects of 250 MWh/500MWh standalone BESS in Gujarat under tariff-based global competitive bidding. It also secured an additional 250 MWh/500 MWh under the greenshoe option, increasing the total project capacity to 500 MWh/1 GWh. The goal of the project is to provide electricity on demand to Gujarat power distribution companies during peak and off-peak hours. It will provide battery backup for more than an hour, with a total output of 1,000 MW. However, Gensol Engineering is currently facing significant scrutiny. The Securities and Exchange Board of India (Sebi) has issued an interim order against the company and its promoters, Puneet Singh Jaggi and Anmol Singh Jaggi, barring them from participating in the securities markets until further notice due to concerns related to fund diversion and corporate governance. Also read: BluSmart investors look to buy promoters' stake, revive the ride-hailing company #5 JSW Energy JSW Energy is in the business of generating power from thermal and renewable sources. In 2024 it entered the energy storage services business. It won a 1 GWh storage project from the Solar Energy Corporation of India (SECI), which is expected to be commissioned by June 2025. This project includes two installations with 500 MWh each, designed for two hours of storage in one cycle. The project will be developed under the BOOT mechanism. JSW Energy aims to achieve 20 GW of generation capacity and 40 GWh of energy storage capacity before 2030, and to become carbon-neutral by 2050. Also read: JSW Energy's expected Ebitda growth to be fueled by debt binge Conclusion With India's ambitious goals of generating 500 GW of renewable energy by 2030 and achieving net-zero emissions by 2070, the number of solar and wind projects in the country has shot up. BESS is essential to support these solar and wind projects, and ensure the electricity they generate is not wasted. With electricity demand and EV adoption growing, and environmental, social and governance (ESG) mandates by the government, the demand for storage systems is set to increase. This makes BESS the backbone of India's green-energy transition. However, it's essential to conduct thorough research before making any investment decisions. Be sure to carefully evaluate factors such as technological advancements, government policies, market competition, corporate governance, project-specific risks, and fundamentals of companies before deciding whether to invest. Happy investing! Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
Hindustan Times
22-05-2025
- Hindustan Times
Mohali: Cops bust fake vehicle registration racket; 2 held
Police have uncovered an organised gang involved in vehicle registration fraud using forged documents, leading to the arrest of two suspects and the seizure of multiple incriminating items. The arrested individuals have been identified as Sukhraj Singh alias Sekhu, a resident of Jagatpura in Jalandhar, and Balveer Singh from Mohali. Acting on a complaint received on May 16 about fake vehicle registrations, police have registered a case under various sections of the Indian Penal Code, including Sections 63, 331(4), and 305. Following further developments, Section 317(2) was also added to the case. During the investigation, a tip-off led to a series of raids conducted on the nights of May 7 and 8 in Baharampur, Nawanshahr and surrounding areas. A suspicious Kia car bearing fake number plates (PB-65-AZ-6155) was intercepted, revealing counterfeit registration documents and a fake Exide battery. Police recovered two laptops, a OnePlus mobile phone, car keys and the aforementioned vehicle during the operation. The evidence points to a larger, well-coordinated racket suspected of operating across multiple districts in Punjab. Deputy superintendent of police (DSP) City-2 HS Bal said that the investigation is ongoing, and efforts are on to trace and arrest other members of the gang.
The Print
14-05-2025
- Business
- The Print
Exide aims at Rs 20,000 cr topline in 2-3 yrs
The battery maker also plans to invest Rs 1,600-1,700 crore in the current fiscal, covering both lithium-ion cell manufacturing and the lead-acid segment, an official said. Kolkata, May 13 (PTI) Exide Industries on Tuesday said it is targeting a revenue of Rs 20,000 crore over the next two to three years, banking on steady growth in its lead-acid battery business. 'Our business outlook remains strong. Over the next two to three years, revenue will touch Rs 20,000 crore from the current level of around Rs 16,500 crore,' Exide MD & CEO Avik Roy said. The projection is primarily based on the lead-acid battery business and does not include estimates from its upcoming lithium-ion cell manufacturing facility, which is expected to be operational in FY'26, he said. 'Cell manufacturing is a strategic foray, given the immense potential of EVs in the country, but we do not want to make revenue guess at this stage as they will depend on market adoption,' Roy said. The company expressed confidence in improved margins and cash flow going forward, after facing pressure in the March 2025 quarter due to high input costs. Antimony, a key raw material, witnessed an unprecedented price surge over the past year, impacting profitability, the company official said. 'Although we implemented a price hike of about 5 per cent to pass on the cost, there was a lag between cost escalation and pricing action. That created a hurdle, but things are now stabilising,' he added. PTI BSM BDC This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
13-05-2025
- Automotive
- Time of India
Exide eyes Rs 20k cr revenue from lead-acid battery biz in 2 yrs
1 2 3 Kolkata: Exide Industries is planning to increase its revenue from lead-acid battery business to around Rs 20,000 crore over the next couple of years from the current Rs 16,500 crore, with the outlook remaining strong."We are aiming to raise the company's revenue from the lead-acid business to Rs 20,000 crore in the next two to three years," Exide Industries MD & CEO Avik Roy said on Tuesday. At the end of the last financial year, the company's revenue from this business was around Rs 16,500 crore."As we enter FY26, the outlook for the lead-acid business remains positive across most business verticals. I believe that Exide, with its advanced product portfolio, pan-India distribution network and strong brand recall, will continue to benefit from the growth opportunities," Roy said during the company's Q4FY25 earnings call last to the company, domestic auto replacement demand was robust throughout the last financial year, while auto OEM demand, especially in the passenger vehicles segment, didn't see any meaningful uptick in demand. In reserve power, both industrial UPS and solar trade markets witnessed steady growth in demand, but the home-UPS market remained soft, with its demand expected to ramp up in the first quarter of this fiscal intends to commercialise the first phase of the lithium-ion cell manufacturing operations in Karnataka this fiscal year. In the first phase, it will set up a 6 gigawatt-hour lithium-ion cell manufacturing far, Exide has invested around Rs 3,600 crore in its wholly owned subsidiary Exide Energy Solutions (EESL). "We have the board approval to invest an additional Rs 1,200 crore in this financial year," Roy said.
Time of India
13-05-2025
- Automotive
- Time of India
Exide aims to become a ₹20,000 crore company in the next 2-3 years
The storage battery maker Exide Industries is aiming to become a ₹20000-crore company in the next two to three years, growing from ₹16588 crore as of end March, managing director Avik Roy said Tuesday in his first ever media interaction. He said that the first phase of the green-field lithium-ion cell manufacturing plant would be up and running by the end of FY26. Kolkata-headquartered Exide's subsidiary Exide Energy Solution is setting up the country's first lithium-ion cell manufacturing unit in Bengaluru with a proposed 12 gigawatt hour capacity in two equal phases of 6 gigawatt hour each targeting the rapidly expanding local electronic vehicle market. It signed a non-binding agreement with Hyundai Motor and Kia Corporation for strategic cooperation in the market. Exide has so far made equity investment of ₹3600 crore into the subsidiary while the board has approved another ₹1200 crore for the first phase of the unit. Roy, who took the driver's seat at Exide on May 1, last year, said that the company also invests about ₹500 crore every year into its lead-storage battery units. "As we enter FY26, the outlook for the lead-acid business remains positive across most business verticals. During the year, we have strengthened our businesses and go-to-market strategy, by transitioning from a SBU-led organisation to a Functional Organisation. We have also strengthened our senior leadership team by bringing in seasoned business leaders from global corporations," Roy said. Exide reported a 3% rise in annual net profit for FY25 at ₹1,077 crore over the preceding year profit.
