Stock hits 10% upper circuit after R&D collaboration with IIT Delhi’s FITT for EV battery tech

SYNOPSIS: The lithium-ion battery manufacturer partnered with IIT Delhi’s FITT to collaborate on battery R&D, testing, and BMS technologies, aiming to strengthen innovation capabilities and enhance product development.

During Wednesday’s trading session, shares of a company involved in the manufacturing of lithium-ion batteries hit a 10 percent upper circuit on NSE, after the company announced a strategic research and development (R&D) collaboration in EV battery technologies.

With a market cap of Rs. 431 crores, shares of Maxvolt Energy Industries Limited hit a 10 percent upper circuit at Rs. 395.7 on NSE, compared to its previous closing price of Rs. 359.75. The stock has delivered multibagger returns of over 117 percent in one year, and has gained by more than 55 percent in the last one month.

What’s the News

According to the latest exchange disclosures on NSE, Maxvolt Energy Industries Limited has entered into a Memorandum of Understanding (MoU) with Foundation for Innovation and Technology Transfer (FITT), IIT Delhi. The agreement outlines a framework for collaboration aimed at fostering mutual benefits through academic and research-driven initiatives.

The MoU focuses on key areas such as research and development, consulting, testing, validation, and technical advisory services in battery technologies and Battery Management Systems (BMS). This collaboration is expected to support advancements in energy storage solutions and related technologies.

Under the scope of the agreement, both parties will work on the development, optimisation, and validation of battery systems, including BMS hardware, software, algorithms, and associated technologies. The execution of specific projects will be carried out through detailed annexures defining individual deliverables.

As part of the arrangement, IIT Delhi, through FITT, will provide technical expertise, including consulting, R&D, testing, and validation services. Project-specific details such as scope, timelines, and payments will be determined separately. Intellectual property generated through funded projects will be assigned to Maxvolt, subject to agreed licensing terms.

Overall, the collaboration is intended to strengthen the company’s research and development capabilities, provide access to academic expertise, accelerate innovation in battery and energy storage technologies, and enhance its product development capabilities.

Financials & More

Maxvolt Energy Industries Limited is primarily engaged in the business of manufacturing lithium-ion batteries of various ranges supplied through a diversified sales & distribution mix, viz., authorised dealers and distributors and OEMs under the brand name of “MaxVolt Energy” widely used in electric vehicles (i.e., e-scooter, e- rickshaw, e-cycle), energy storage and electronics gadgets, etc.

The company plans to significantly expand its recycling capacity to 25,000 metric tonnes per year by 2035. The company is also focused on sustainability goals, including achieving measurable carbon neutrality and aligning with ESG milestones.

Maxvolt reported a significant growth in revenue from operations, experiencing a year-on-year increase of around 225 percent, from Rs. 40 crores in H1 FY25 to Rs. 130 crores in H1 FY26. Likewise, its net profit more than doubled during the same period from Rs. 5 crores to Rs. 13 crores, representing an impressive rise of around 160 percent YoY.

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