Backup batteries, diesel gensets and solar-hybrid power systems that keep sites running through outages.
HBL EngineeringDirect supplier · LowListed
Amara Raja Energy & MobilityDirect supplier · LowListed
Exide IndustriesDirect supplier · LowListed
Cummins IndiaIndirect supplier · MediumListed
Exide Industries (EXIDEIND)
Automotive/industrial battery major; telecom/industrial UPS batteries are a minority segment
Price
₹336.00
snapshot 30 Oct 2026
Strengths
Nationwide distribution and service network built for its automotive/industrial battery business gives it an existing channel to serve telecom-tower battery-replacement demand without needing fresh infrastructure
Risks
Automotive batteries dominate revenue - telecom/industrial UPS batteries are an explicit minority segment
FY22 profit included a one-time gain, distorting that year's comparison
Note: FY22 profit includes a one-time gain; Partial exposure - automotive dominates
Market cap, ratios, CAGR and revenue: company table snapshot as of 30 Oct 2026 (the same figures on every page). Price: snapshot as of 30 Oct 2026. Not investment advice.
Where it fits
Backup batteries, diesel gensets and solar-hybrid power systems that keep a tower site's active equipment running through grid outages.
Why it matters
Rural and semi-urban India's grid reliability is inconsistent - uptime SLAs that operators promise customers are only as good as the backup power behind each site.
Where the value pool sits
Equipment makers earn both initial system sales and recurring battery-replacement/maintenance revenue, since batteries and gensets degrade and are serviced over a site's operating life.
Key drivers
Site count growth and rural/semi-urban network expansion
Shift toward solar-hybrid power to cut diesel operating costs
Grid reliability trends in under-served regions
Potential bottlenecks
Battery chemistry/raw-material supply for site backup systems