Livguard, a prominent energy storage and solutions provider, has announced plans to invest ₹3,360 crore (approximately $400 million) over the next five years to expand its battery production capacity to 25 gigawatt-hours (GWh). The capital expenditure will be funded through a mix of equity (₹1,270 crore to ₹1,697 crore) and debt, according to company founder Rakesh Malhotra.
Livguard currently produces lithium-ion, lead-acid, and sodium-ion batteries, with a total capacity of 12 GWh, of which 1.2 GWh is under commissioning. The majority of the planned expansion will focus on lithium batteries.
The company has already invested ₹380 crore in an energy storage systems (ESS) plant in Manesar, Haryana, which will reach a capacity of 1.2 GWh by February 2024. Livguard is also considering a second ESS facility, likely near a port, to support a 5 GWh capacity aimed at serving domestic and export markets.
Livguard plans to raise ₹1,697 crore to ₹2,121 crore in the next fiscal year to enhance production at its lithium and solar facilities. These investments are expected to help the company achieve a turnover of ₹10,000 crore in the coming years.
The firm has witnessed robust growth, with revenue projected at ₹6,500 crore for this year, driven by new facilities and recent investments. Livguard anticipates a topline of ₹4,200 crore in FY25, with an annual growth rate of 30% over the next five years.
In October 2023, Livguard launched hybrid off-grid solar inverters, which currently hold a 4% market share, projected to grow to 8-9% by FY25 and nearly 15% by FY26. The company expects revenue from these products to rise from ₹700 crore in FY25 to ₹1,500 crore by FY26.
Under the PM Suryagriha Yojana, 40% of Livguard’s solar business operates with a national market share of 7-8%. The company’s rapid growth and minimal debt position make it well-positioned for future fundraising through private equity or a potential public offering, depending on market conditions.
Livguard is a leading energy solutions provider in India, renowned for its innovative and reliable power backup and energy storage products. The company offers a wide range of solutions, including automotive batteries, inverter batteries, solar batteries, and power inverters, catering to both residential and industrial needs.
With a focus on advanced technology, Livguard ensures high performance and durability in its products, making them ideal for diverse energy requirements. Committed to sustainability and customer satisfaction, Livguard continues to expand its footprint in the renewable energy sector, contributing to India’s growing demand for clean and efficient energy solutions.
