Stock hits 10% upper circuit after R&D collaboration with IIT Delhi’s FITT for EV battery tech
By Shivani Singh | April 15, 2026
Introduction
In a significant development for the electric vehicle (EV) sector, shares of Maxvolt Energy Industries Limited, a manufacturer of lithium-ion batteries, surged to a 10 percent upper circuit during Wednesday’s trading session on the National Stock Exchange (NSE). This spike followed the announcement of a strategic research and development (R&D) collaboration with the Foundation for Innovation and Technology Transfer (FITT) at IIT Delhi. The partnership aims to enhance innovation capabilities and product development in battery technologies.
Stock Performance
Maxvolt Energy Industries Limited, which currently boasts a market capitalization of Rs. 431 crores, saw its stock price rise to Rs. 395.7 from a previous closing price of Rs. 359.75. This impressive performance marks a significant milestone for the company, which has delivered multibagger returns of over 117 percent in the past year and has gained more than 55 percent in just the last month.
The Collaboration
Memorandum of Understanding (MoU)
According to the latest disclosures on the NSE, Maxvolt has entered into a Memorandum of Understanding (MoU) with IIT Delhi’s FITT. This agreement outlines a framework for collaboration that aims to foster mutual benefits through academic and research-driven initiatives. The MoU emphasizes key areas such as:
- Research and Development
- Consulting
- Testing
- Validation
- Technical Advisory Services
This collaboration is expected to support advancements in energy storage solutions and related technologies.
Project Scope
Under the agreement, both parties will focus on the development, optimization, and validation of battery systems, including:
- Battery Management Systems (BMS) hardware
- Software
- Algorithms
- Associated technologies
Specific projects will be carried out through detailed annexures that define individual deliverables. IIT Delhi, through FITT, will provide technical expertise, including consulting, R&D, testing, and validation services. The project-specific details such as scope, timelines, and payments will be determined separately. Furthermore, any intellectual property generated through funded projects will be assigned to Maxvolt, subject to agreed licensing terms.
Company Overview
Maxvolt Energy Industries Limited is primarily engaged in the manufacturing of lithium-ion batteries across various ranges. These batteries are supplied through a diversified sales and distribution mix, including authorized dealers, distributors, and Original Equipment Manufacturers (OEMs) under the brand name “MaxVolt Energy.” The company’s products are widely used in:
- Electric vehicles (e-scooters, e-rickshaws, e-cycles)
- Energy storage solutions
- Electronics gadgets
Additionally, the company plans to significantly expand its recycling capacity to 25,000 metric tonnes per year by 2035, aligning with its sustainability goals, including achieving measurable carbon neutrality and adhering to Environmental, Social, and Governance (ESG) milestones.
Financial Performance
Maxvolt Energy Industries Limited has reported substantial growth in its financial performance. The company experienced a year-on-year increase of approximately 225 percent in revenue from operations, rising from Rs. 40 crores in H1 FY25 to Rs. 130 crores in H1 FY26. Similarly, its net profit more than doubled during the same period, increasing from Rs. 5 crores to Rs. 13 crores, representing an impressive rise of around 160 percent year-on-year.
Conclusion
The collaboration between Maxvolt Energy Industries Limited and IIT Delhi’s FITT marks a significant step forward in the development of advanced battery technologies. With a strong focus on research and innovation, this partnership is poised to enhance the company’s capabilities in the rapidly evolving EV market. As the demand for sustainable energy solutions continues to grow, Maxvolt’s strategic initiatives and financial performance position it well for future success.
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