Whalesbook
Dekho, lead metal toh waise bhi bahut zaroori hai. Gaadiyon ki batteries ho ya phir backup systems, sab jagah lead hi use hota hai. Ab jab EV market itni tezi se badh raha hai, toh in batteries ke liye lead ki demand aur bhi badh gayi hai. Defence ya radiation shielding mein bhi yeh kaam aata hai. Aur iska supply toh zinc, silver jaise metals ke mining se bhi juda hai. Iss sab ka fayda India ke secondary lead recycling sector ko mil raha hai, jahan companies naye naye tarike se kaam kar rahi hain.
India mein EV ka jo craze chal raha hai na, woh lead demand ka sabse bada reason ban gaya hai. Estimates bol rahe hain ki India ka EV battery market jo 2025 mein 17.7 GWh tha, woh 2032 tak 256.3 GWh tak pahunch sakta hai! Matlab batteries bahut zyada banengi. Iske saath hi, battery recycling ka market bhi dumdaar ho raha hai. Yeh 2025 mein USD 297.6 million se badhkar 2032 tak USD 557.1 million ho sakta hai, matlab 9.4% ki CAGR se grow karega. Government ke rules bhi organized recyclers ke liye faydemand hain. Overall, Indian lead market 5% CAGR se grow kar sakta hai, aur secondary lead isko aur aage le jayega.
Ab dekhte hain kaun kaun si companies iska fayda utha rahi hain:
Gravita India: Yeh company lead recycling mein ek bade player ke taur par ubhar rahi hai. Inki revenue ka 88% se zyada toh lead business se hi aata hai. Gravita India ki abhi ki production capacity 236,559 MTPA hai, lekin plans bade hain. FY28 tak ₹15 billion ke capex se ise 700,000 MTPA tak le jaane ka goal hai. Company ab high-quality refined lead aur special products par zyada focus kar rahi hai. Plus, woh lithium-ion batteries, plastics, aur rubber jaise naye recycling segments mein bhi enter kar rahi hai. February 2026 tak, Gravita India ka market cap lagbhag ₹11,800 crore tha aur P/E ratio 30-39x ke beech mein chal raha tha, jo market ki umeed dikhata hai.
Pondy Oxides and Chemicals (POCL): Yeh bhi lead recycling mein ek khaas naam hai. Inki finished goods capacity 132,000 MTPA hai, jo naye additions ke baad 204,000 MTPA tak ja sakti hai. POCL bhi value-added products par focus badha rahi hai, jiska target 70% revenue lead segment se lane ka hai, aur company export bhi accha karti hai. POCL ne apne lead expansion project ka second phase bhi start kar diya hai aur copper recycling capacity bhi double kar rahi hai. Yeh log lithium-ion battery recycling aur e-waste mein bhi entry mar rahe hain. January 2026 ke end tak, POCL ka market cap ₹3,600-₹3,800 crore ke aas paas tha aur P/E ratio 31x se 43x ke range mein tha.
Nile Limited: Nile ki combined lead production capacity 107,000 tonnes per annum hai. Yeh mainly battery industry ke liye pure lead aur lead alloys banate hain. Lekin ab Nile bhi lithium-ion battery recycling mein kadam rakh rahi hai, jiske bade project FY26 aur FY27 mein start hone wale hain. Ek interesting baat yeh hai ki Nile ka P/E ratio kaafi kam, 7.5x se 10x ke beech mein tha early 2026 mein, jo ise baaki companies ke comparison mein undervalue dikha raha hai. February 2026 ki starting mein, iska market cap ₹441-₹464 crore tha.
Overall, lead-acid battery market ka future bhi bright dikh raha hai. 2025 mein yeh $49.37 billion se badhkar 2030 tak $61.23 billion ho sakta hai, jiska reason hai zyada gaadiyan banana, pollution ke rules tight hona aur EVs ka continuous use. Toh lead ki demand bani rahegi. Gravita India jaise companies jo aggressively expand kar rahi hain aur POCL jo capacity badha rahi hai aur value-added products par focus kar rahi hai, woh sab bahut acchi position mein hain. Nile Limited ka lithium-ion recycling mein enter karna aur uska current valuation bhi ek interesting option hai. Circular economy ki taraf badhta trend aur recycling efficiency badhne se India ke in lead recycling players ka future kaafi promising lag raha hai.