High Energy Batteries (India) Ltd.

BSE: HIGHENE · Household Products

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52W Range₹470 – ₹675

Snapshot

Unlock High Energy Batteries (India) Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

High Energy Batteries (India) Ltd. specialises in the design, development, and manufacture of specialised batteries for aerospace, naval, and defence applications, alongside lead-acid batteries for automotive and standby power needs. The company serves critical sectors including the army, navy, air force, and space launch programmes.

Business Model

The company generates revenue through the manufacturing and sale of high-performance battery systems tailored for defence and industrial applications. It operates through two primary segments: Aerospace, Naval, and Power System Batteries, and Lead Acid Storage Batteries.

Growth Outlook

Growth is primarily driven by the increasing indigenisation of defence equipment in India and the rising demand for specialised power solutions in aerospace and missile programmes. The company continues to leverage its technical expertise to cater to high-barrier-to-entry defence contracts.

Key Risks

  • Defence Budget Dependency. The company's revenue is highly sensitive to fluctuations in government defence spending and procurement priorities.
  • Raw Material Price Volatility. Fluctuations in the cost of lead and other essential battery components can significantly impact profit margins.
  • Technological Obsolescence. Rapid advancements in battery chemistry and energy storage technology may render existing product lines less competitive.
  • Concentration Risk. Heavy reliance on a limited number of institutional and government clients creates exposure to contract delays or cancellations.

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Key Metrics

REVENUE

₹90 Cr

TTM · standalone

+13.4%YoY

NET PROFIT

₹17 Cr

TTM · standalone

+22.8%YoY

EPS

₹18.42

TTM · standalone

+22.8%YoY

RETURN ON EQUITY

15.5%

TTM · standalone

+2.0 ppYoY

RETURN ON CAPITAL EMPLOYED

21.9%

TTM · standalone

+2.7 ppYoY

P/E

28.8×

Q2 FY27 · standalone

28.8 vs 24.3x5Y avg

EV/EBITDA

18.5x

Q2 FY27 · standalone

18.5 vs 19.5x5Y avg

EBITDA MARGIN

29.6%

TTM · standalone

+3.4 ppYoY

NET PROFIT MARGIN

19.7%

Q2 FY27 · standalone

+8.1 ppYoY

DEBT TO EQUITY

0.2x

Q2 FY27 · standalone

-0.06xYoY

Peers · Household Products

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
High Energy Batteries (India) Ltd.HIGHENE
₹476 Cr28.8×18.5513.4%29.6%15.5%21.9%-10.0%
Jyothy Labs Ltd.JYOTHYLAB
₹6,313 Cr23.9×13.723.9%15.4%19.1%24.5%-41.2%
Flair Writing Industries LimitedFLAIR
₹2,430 Cr18.2×9.9414.2%19.3%13.1%16.8%-22.6%
Eveready Industries India LimitedEVEREADY
₹2,257 Cr10.5×13.579.8%11.6%38.0%31.7%-16.8%
Kokuyo CamlinKOKUYOCMLN
₹748 Cr34.0×14.006.2%6.7%7.1%9.9%-27.9%
LincLINC
₹541 Cr17.9×8.10-1.0%12.1%13.0%18.5%-26.7%

As of Q2 FY27

Financials