Amara Raja Energy & Mobility Ltd.

is a leading battery maker for automotive and industrial applications, competing closely with Exide. ​ It benefits from replacement demand, OEM tie‑ups, and rising power backup needs. ​ The company is investing in new‑age chemistries and Li‑ion capabilities for EVs and stationary storage. ​ Risks include faster EV disruption to legacy lead‑acid, raw‑material volatility, and strong competition. ​