Electric vehicle is a blooming topic in the twenty-first century, and every business is seeing enormous opportunities in the Indian market at the same time as Indian automobile and battery companies are setting up new plans and investments. Each company aspires to be the market leader in this industry, and in order to achieve so, companies are diligently preparing and instilling the approach.
Here are such 3 fundamentally strong companies which are strategically planned to prosper in the future.
Himadri Speciality Chemical Ltd:
One of India’s top specialty chemical conglomerates, Himadri Speciality Chemical Ltd., is India’s first producer and pioneer of the anode material needed for lithium-ion batteries.
The company belongs to the small-cap category with a market capitalization of Rs 5,741 crores. Shares were trading at Rs 132.40 a share on June 16, down 1.01 percent from the previous close price.
The company’s revenue increased by 50% yearly, from Rs 2,791 crores in FY 21-22 to Rs 4,171 crores in FY 22-23. PAT has grown by 415 percent, from Rs 39 crores to Rs 215 crores.
In recent years, the company invested Rs 5.75 crores in Sicona Battery Technologies, an Australian startup that specialises in high-capacity silicon anode technology for lithium-ion batteries used in electric vehicles.
This investment will help Himadri Speciality accelerate product and technology development for Sicona, as well as the commercialization of their silicon anode technology.
The rising prominence of lithium-ion batteries is projected to increase to 162 GWh at a CAGR of 44 percent, Himadri Speciality is preparing to fulfill demand by expanding its supply chain, boosting capacity, and working with other enterprises. This is anticipated to generate long-term demand and prospects for the firm in the next few years.
Ashok Leyland Ltd:
India’s second-largest commercial automotive manufacturer Ashok Leyland Ltd has long-standing expertise in the manufacturing of domestic medium and heavy commercial vehicle segments.
The company belongs to the Midcap category with a market capitalization of Rs 48,270 crores. Shares were trading at Rs 164.45 per share on June 16, up 4.51 percent from the previous close price.
The company’s revenue increased by 59% yearly, from Rs 26,237 crores in FY 21-22 to Rs 41,672 crores in FY 22-23. Net profit has grown by 560 percent from a loss of Rs 292 to a profit of Rs 1,350 crores.
During this fiscal year, the company planned to invest Rs 1,200 crore in Switch Mobility to support the electric vehicle sector industry and enable the latter to build new electric buses and light commercial vehicles. In 2023, the business intends to introduce the electric versions of its enormously popular “Dost” and “Bada Dost” series of light commercial vehicles.
Exide Industries Ltd:
India’s most prominent and the world’s fourth-largest manufacturer of automotive and industrial lead-acid batteries Exide Industries Ltd, is primarily engaged in the manufacturing of storage batteries and allied products.
The company belongs to the Small-cap category with a market capitalization of Rs 18,275 crores. On June 15, Shares were trading at Rs 215.50 apiece, up 3.93 percent from the previous close price.
The company’s revenue increased by 18% yearly, from Rs 12,789 crores in FY 21-22 to Rs 15,078 crores in FY 22-23. Net profit has grown by 18 percent from Rs 695 to Rs 822 crores.
In the previous year, Exide Industries partnered with Switzerland’s Leclanche SA to produce lithium-ion battery packs and invested Rs 2.5 billion in setting up the plant. The company has invested about Rs 6000 crore in a state-of-the-art lithium-ion cell manufacturing unit in Karnataka.
Written by Omkar C
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