$EXIDEIND: Building the Future of India's Energy Storage

India's energy storage sector is entering a structural growth phase, driven by rapid renewable energy additions, rising EV adoption, expanding data centers, and supportive government policies. With the country targeting 27 GW of battery storage and 10 GW of pumped storage by 2030, while total energy storage demand is projected to exceed 2,700 GWh by 2032, battery manufacturers are set to play a crucial role in India's clean energy transition. As battery costs decline and domestic manufacturing scales up under the PLI scheme, companies across the battery value chain stand to benefit from long-term demand. Among the key beneficiaries is Exide Industries $EXIDEIND , which is transforming from a traditional lead-acid battery manufacturer into a diversified energy storage company. The company reported FY26 revenue of ₹17,269 crore and PAT of ₹1,111 crore, while Q4 profit grew 22.7% YoY. Backed by a debt-free balance sheet and a ₹4,802 crore investment in lithium-ion cell manufacturing, Exide is well-positioned to capitalize on the growing demand for EV batteries, Battery Energy Storage Systems (BESS), and grid-scale storage, making it one of India's strongest long-term plays on the evolving energy ecosystem.