Synopsis: High Energy Batteries (India) Limited reports 85.23% YoY revenue growth and a 646.27% YoY net profit surge in Q3 FY26 results.
This Defence Stock, engaged in manufacturing high-tech batteries for defence, aerospace, automotive, and standby power applications, jumped 15.36 percent after the company reported December quarterly results with a 646.27 percent YoY increase in net profit.
With a market capitalization of Rs. 551.28 crores, the share of High Energy Batteries (India) Limited has reached an intraday high of Rs. 649 per equity share, rising nearly 15.36 percent from its previous day’s close price of Rs. 562.60. Since then, the stock has retreated and is currently trading at Rs. 615 per equity share.
Q3 FY26 Result
Coming into the quarterly results of High Energy Batteries (India) Limited, the company’s consolidated revenue from operations increased by 85.23 percent YOY, from Rs. 12.66 crore in Q3 FY25 to Rs. 23.45 crore in Q3 FY26, and grew by 35.55 percent QoQ from Rs. 17.30 crore in Q2 FY26. High Energy Batteries (India) Limited generated 100 percent of its revenue from the Aerospace, Naval and Power System Batteries segment in Q3 FY26.
In Q3 FY26, High Energy Batteries (India) Limited’s consolidated net profit increased by 646.27 percent YOY, reaching Rs. 5 crore compared to Rs. 0.67 crore during the same period last year. As compared to Q2 FY26, the net profit has increased by 148.76 percent, from Rs. 2.01 crore.
The basic earnings per share increased by 654.05 percent and stood at Rs. 5.58 as against Rs. 0.74 recorded in the same quarter in the previous year, FY2025. High Energy Batteries (India) Limited’s revenue and net profit have grown at a CAGR of 5.84 percent and 20.11 percent, respectively, over the last five years.
In terms of return ratios, the company’s ROCE and ROE stand at 23 percent and 17.3 percent, respectively. High Energy Batteries (India) Limited has an earnings per share (EPS) of Rs. 19.8, and its debt-to-equity ratio is 0.22x.
Order Book
As of August 2025, the company has a confirmed order book of around Rs. 70 crore, scheduled for execution over the next 15-18 months. This solid backlog provides clear short-term revenue visibility and supports stable business operations.
The order book mix is well diversified across defence-related customers. About 65 percent of orders come from the Navy and Naval Research Labs, 7 percent from DRDO Labs, and 10 percent from the Defence Public Sector. The remaining 18 percent comes from aerospace and other customers, including NICAD, TDF, and NuPro.
Outlook for FY26
High Energy Batteries (India) Limited’s management guidance indicates a positive outlook for FY26, supported by a healthy confirmed order book. Ind-Ra expects revenue to grow 7-10 percent year-on-year to around Rs. 90-100 crore. This anticipated growth reflects steady execution capability, improving demand, and management’s confidence in sustaining momentum in the coming year.
High Energy Batteries (India) Limited is a specialized manufacturer of high-tech batteries primarily serving defence sectors like the army, navy, air force, and satellite launch vehicles, alongside commercial applications in automotive and standby power systems.
The company designs and produces advanced battery types, including silver-zinc, nickel-cadmium, and silver-chloride magnesium variants tailored for demanding uses such as underwater propulsion, missile guidance, emergency power, aerospace operations, and industrial needs. It also diversified into lead-acid batteries for vehicles and VRLA standby solutions, exporting products globally.
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