High Energy Batteries India Ltd (HIGHENE)

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High Energy Batteries India Ltd (HIGHENE) · mywealthgrid

About

High Energy Batteries manufactures household battery products in consumer staples sector. Market cap ₹513.86 Cr, capital-light model with debt-to-equity 0.1. Revenue ranges ₹3.88 Cr–₹30.16 Cr across recent quarters, reflecting seasonal demand or operational volatility.

Face value: ₹2

Market cap

₹515 Cr

P/E

28.1×

P/B

4.6×

Dividend yield

0.5%

ROE

14.6%

ROCE

21.8%

Debt / equity

0.1

OPM

22.8%

EPS (TTM)

₹20.5

Book value

₹124.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Revenue volatility extreme (₹3.88 Cr Jun 2020 to ₹30.16 Cr Sep 2020): verify whether seasonal demand, supply disruption, capacity constraints, or structural market challenges.

Operating margins swing -17.51% to +51.46%: confirm root causes and whether business sustains margins above current 21.43%.

Recent losses (Jun 2020, Mar 2020), stock down 11.49% over 1 year despite dividends: verify management recovery plan.

PE 28.03 vs ROE 16.37% signals elevated valuation; confirm earnings growth or margin expansion priced in.

Generated analysis · source review pending

Growth drivers

Dividends 2023–2026 show sustained profitability; verify whether backed by operating cash flow or reserve drawdown.

Debt-to-equity 0.1 enables capex or M&A; verify management plans for capacity, new products, adjacent market entry.

OPM reached 37–51% in profitable quarters; revenue stabilization compounds earnings growth.

Verify whether stock split (Aug 2022) preceded distribution expansion or product launch initiatives.

Generated analysis · source review pending

1,020 historical price candles were omitted because the exchange source has not been verified.

₹572.1-1.4%1Y

Quick read

rule-based

Pros

+High return on capital employed of 24.8%
+Healthy operating margin of 22.8%
+Comfortable interest coverage of 12.8×

Cons

−Profit declined 3.4% a year over the last 5 years
−Modest revenue growth of 1.4% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

51/100

Business quality: 67
Growth: 33
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	22	48	60	47	61	78	80	93	78	81	84
COGS	-15	-24	-28	-21	-25	26	26	31	24	23	25
Gross profit	—	—	—	—	—	51	53	62	54	58	59
	45	65	77	60	71	21	24	31	31	41	40
	-7	7	11	7	15	30	29	31	23	17	19
OPM %	-30.5%	13.8%	17.9%	15.2%	25.1%	38.7%	37.1%	33.5%	28.9%	21.4%	22.8%
Depreciation	1	1	1	1	1	1	1	1	1	1	1
Interest	5	5	5	6	6	5	4	3	2	1	2
	0	0	0	0	0	0	0	1	3	6	5
Profit before tax	-11	0	5	1	9	24	25	27	23	21	21
Tax	-4	0	1	0	3	6	7	7	6	5	5
Tax %	-35%	25.5%	29.2%	21.1%	36.6%	23.6%	27.5%	25.4%	25.8%	25.9%	25.8%
	-7	0	3	0	6	18	18	21	17	15	15
PAT margin %	-30.8%	0.7%	5.5%	1%	9.1%	23.6%	22.6%	22.1%	22%	18.9%	18.4%
EPS (₹)	-38.4	1.9	18.3	2.4	31.3	102.2	20	22.9	19.1	17.1	17.2
EPS adjusted (₹)	-7.7	0.4	3.7	0.5	6.3	20.5	20.1	22.9	19.2	17.1	17.2
	—	0%	0%	0%	0%	14.7%	74.9%	15.3%	15.7%	17.5%	17.5%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	2	2	2	2	2	2	2	2	2	2	2
Reserves	0	1	16	17	22	40	54	72	86	98	110
Minority interest	—	—	—	—	—	0	—	—	—	—	—
	28	34	31	29	10	35	25	21	5	11	12
	23	30	34	36	40	17	18	20	16	14	15
Total equity & liabilities	53	67	84	83	74	94	98	115	108	125	138
	15	14	33	32	31	31	30	38	38	39	40
CWIP	0	0	—	—	—	—	—	—	0	0	2
Investments	0	0	1	1	1	1	1	1	2	3	3
	38	53	50	50	43	62	67	75	69	83	94
Total assets	53	67	84	83	74	94	98	115	108	125	138

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	66%	66.8%	67%	69%	71.4%	70.6%
EBITDA margin %	15.2%	25.1%	38.7%	37.1%	33.5%	28.9%	21.4%	22.8%
EBIT margin %	12.6%	23.3%	37.2%	35.6%	32.2%	27.6%	20.3%	21.5%
PAT margin %	1%	9.1%	23.6%	22.6%	22.1%	22%	18.9%	18.4%
Working capital
Receivable days	130	54	85	90	113	95	120	125
Inventory days	231	222	398	489	422	584	629	610
Payable days	130	—	65	57	32	51	75	49
NWC days	231	—	418	522	502	628	675	685
Leverage
Current ratio	0.88	1.11	1.39	1.74	2.01	4.01	3.77	3.65
Debt to EBITDA	4.03	0.67	1.15	0.83	0.67	0.21	0.65	0.61
Debt to equity	1.53	0.44	0.83	0.44	0.28	0.05	0.11	0.1
Interest coverage	1.1	2.6	5.7	7.5	9.7	12.8	15	12.8
Asset turnover	0.56	0.83	0.83	0.81	0.81	0.72	0.65	0.61
Return ratios
Return on assets %	0.5%	7.5%	19.6%	18.2%	17.9%	15.8%	12.2%	11.2%
Return on capital employed %	19%	43.5%	67%	51.3%	44.5%	29.7%	22.7%	21.8%
Return on equity %	2.4%	23.6%	43.7%	32.2%	27.9%	19.6%	15.4%	13.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	40.89%	40.89%	41.28%	41.28%	41.28%	41.73%	42.9%	42.9%	42.9%	42.9%	43.07%	43.07%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	6%	6%	5.99%	5.99%	5.99%	5.99%	5.99%	6.42%	6.42%	6.42%	6.42%	5.99%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	53.11%	53.11%	52.73%	52.73%	52.73%	52.28%	51.11%	50.68%	50.68%	50.68%	50.51%	50.94%
No. of shareholders	—	—	—	—	—	—	—	—	22,893	22,384	21,983	22,050

Promoter holding up 2.18 percentage points since Sep 2023.

6 deals · 2 Aug 2021 – 11 Feb 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
11 Feb 2025	SESHASAYEE PAPER AND BOARDS LIMITED	Bulk	BSE	Buy	71,775	₹498.02	₹3.57 Cr
11 Feb 2025	SARAVANA SECURITIES (PROP: D. SATHYAMOORTHI)	Bulk	BSE	Sell	70,001	₹498.00	₹3.49 Cr
11 Feb 2025	SARAVANA SECURITIES (PROP: D. SATHYAMOORTHI)	Bulk	BSE	Buy	1	₹501.85	₹0.00 Cr
27 Jul 2022	SHAH SHARAD KANAYALAL	Bulk	BSE	Buy	11,500	₹1,609.07	₹1.85 Cr
2 Aug 2021	ALPHA LEON ENTERPRISES LLP	Bulk	BSE	Sell	13,837	₹2,117.36	₹2.93 Cr
2 Aug 2021	ALPHA LEON ENTERPRISES LLP	Bulk	BSE	Buy	7,292	₹2,100.69	₹1.53 Cr

1–6 of 6

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. N GOPALARATNAMNon-Executive - Non Independent Director-Chairperson
Mr. G A PATHANJALIExecutive Director-MD
Mr. M IGNATIUSExecutive Director
Mr. VIJAYAMOHANAN K PILLAINon-Executive - Independent Director
Mr. SAROJ KUMAR PATELNon-Executive - Independent Director
R SwaminathanChief Financial Officer
Mr. R SUBRAHMANIYA SIVAMNon-Executive - Independent Director
Mr. C V RAMANANon-Executive - Nominee Director
Mrs. JAYASHREE AJIT SHANKARNon-Executive - Independent Director
Mr. V. Anantha SubramanianCompany Secretary & Complinace Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in High Energy Batteries India Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

We would like to inform that India Ratings & Research Private Limited has upgraded the Credit Rating for the Credit facilities availed by the Company from Bankers.29 Aug 2025 from India Ratings

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

11

Final dividend12 Jun 2026 · ex-date₹3
Final dividend6 Jun 2025 · ex-date₹3
Final dividend22 May 2024 · ex-date₹3
Final dividend16 Jun 2023 · ex-date₹3.5
Final dividend15 Jun 2022 · ex-date₹15
Final dividend27 Jul 2021 · ex-date₹10
Special dividend27 Jul 2021 · ex-date₹5
Dividend dividend18 Jul 2013 · ex-date₹1
Dividend dividend15 Jun 2009 · ex-date₹3.5
Dividend dividend16 Jul 2008 · ex-date₹2.5
Dividend dividend17 Jul 2007 · ex-date₹4

1

Board meeting to consider results25 Jul 2026

1

Face value ₹10 → ₹28 Aug 2022 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

9 announcementsExport CSV

30 Sept 2026, 5:37 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

28 Sept 2026, 4:47 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

28 Jul 2026, 5:34 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

25 Jul 2026, 5:43 pmBoard Meeting

Board Meeting Outcome for Outcome Of The Board Meeting Dated 25.07.2026

Outcome of Board Meeting PDF

25 Jul 2026, 5:36 pmResult

Unaudited Financials For The Quarter Ended 30Th June 2026

Financial Results PDF

25 Jul 2026, 1:33 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

15 Jul 2026, 5:37 pmCompany Update

Filed Final Report With IEPFA On Second 100 Days Campaign - "Saksham Niveshak"

General PDF

10 Jul 2026, 5:13 pmBoard Meeting

Board Meeting Intimation for To Consider And Approve The Unaudited Financial Results For The Quarter Ended 30Th June, 2026

Exchange filing PDF

Date	Category	Subject	Filing
30 Sept 2026, 5:37 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
28 Sept 2026, 4:47 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	66%	66.8%	67%	69%	71.4%	70.6%
EBITDA margin %	15.2%	25.1%	38.7%	37.1%	33.5%	28.9%	21.4%	22.8%
EBIT margin %	12.6%	23.3%	37.2%	35.6%	32.2%	27.6%	20.3%	21.5%
PAT margin %	1%	9.1%	23.6%	22.6%	22.1%	22%	18.9%	18.4%
Working capital
Receivable days	130	54	85	90	113	95	120	125
Inventory days	231	222	398	489	422	584	629	610
Payable days	130	—	65	57	32	51	75	49
NWC days	231	—	418	522	502	628	675	685
Leverage
Current ratio	0.88	1.11	1.39	1.74	2.01	4.01	3.77	3.65
Debt to EBITDA	4.03	0.67	1.15	0.83	0.67	0.21	0.65	0.61
Debt to equity	1.53	0.44	0.83	0.44	0.28	0.05	0.11	0.1
Interest coverage	1.1	2.6	5.7	7.5	9.7	12.8	15	12.8
Asset turnover	0.56	0.83	0.83	0.81	0.81	0.72	0.65	0.61
Return ratios
Return on assets %	0.5%	7.5%	19.6%	18.2%	17.9%	15.8%	12.2%	11.2%
Return on capital employed %	19%	43.5%	67%	51.3%	44.5%	29.7%	22.7%	21.8%
Return on equity %	2.4%	23.6%	43.7%	32.2%	27.9%	19.6%	15.4%	13.8%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jyothy Labs LimitedJYOTHYLABJYOTHYLAB	₹6,716 Cr	₹6,716 Cr	₹2,847 Cr	₹500 Cr	17.6%	₹370 Cr	13%	24.3%	19.1%	45
Eveready Industries India LimitedEVEREADYEVEREADY	₹2,296 Cr	₹2,476 Cr	₹1,489 Cr	₹171 Cr	11.3%	₹178 Cr	11.8%	19.2%	31.6%	69
High Energy Batteries India LtdHIGHENEHIGHENE	₹515 Cr	₹526 Cr	₹78 Cr	₹30 Cr	22.8%	₹18 Cr	18.4%	21.8%	14.6%	685
Indo-National LimitedNIPPOBATRYNIPPOBATRY	₹236 Cr	₹270 Cr	₹449 Cr	₹-21 Cr	-4%	₹-25 Cr	-5.9%	-5.4%	-7.1%	78
Panasonic Energy India Company LtdPANAENERGPANAENERG	₹180 Cr	₹180 Cr	₹268 Cr	₹18 Cr	3.9%	₹12 Cr	1.3%	8.4%	3.3%	65
Pee Cee Cosma Sope LtdPCCOSMAPCCOSMA	₹123 Cr	₹123 Cr	₹82 Cr	₹7 Cr	8%	₹5 Cr	5.3%	21.3%	15.9%	41
Yuvraaj Hygiene Products LtdYUVRAAJHPLYUVRAAJHPL	₹82 Cr	₹93 Cr	₹15 Cr	₹-0 Cr	14.6%	₹-0 Cr	8.5%	30.1%	115.7%	133
Ambica Agarbathies & Aroma Industries LimitedAMBICAAGARAMBICAAGAR	₹41 Cr	₹130 Cr	₹136 Cr	₹10 Cr	7.2%	₹3 Cr	2.5%	8.1%	3.1%	63
Hipolin LtdHIPOLINHIPOLIN	₹26 Cr	₹27 Cr	₹11 Cr	₹-1 Cr	-1.8%	₹-1 Cr	-5.4%	-1.8%	-9.9%	43
Photoquip India LtdPHOTOQUPPHOTOQUP	₹7 Cr	₹20 Cr	₹11 Cr	₹-3 Cr	-0.8%	₹-2 Cr	-5.8%	1.9%	-11%	125

₹ Cr	Mar 2016	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7	3	5	11	9	16	17	24	4	14
	6	-0	-0	-0	-1	-1	-11	-2	-7	-10
	-17	1	-7	-11	-3	-17	-10	-21	2	-4
Net cash flow	-4	—	—	—	6	-1	-4	-0	-1	-0
Free cash flow	7	—	—	—	8	16	6	22	1	11
CFO / Operating profit %	—	24.3%	73.2%	72.5%	30.7%	54.6%	55.6%	104.2%	22.5%	75.2%

High Energy Batteries India Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Events

11

1

1

Announcements

11

1

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Compounded sales growth

Compounded profit growth

Return on equity

High Energy Batteries India Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Events

Dividends11

Board meetings1

Stock splits1

Announcements

Dividends11

Board meetings1

Stock splits1

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

11

1

1

11

1

1