Polaris to Invest Rs 4,500 Crore in Expansion and Battery Storage in Rajasthan
Polaris Smart Metering plans a Rs 4,500 crore investment by 2027, including a new 250,000 sq ft facility in Rajasthan by December 2026, doubling its smart meter production capacity to 10 million units annually. The company aims to increase its market share from 10% to 20% as part of India's smart metering rollout and is entering the battery energy storage market with a planned capacity of at least 5 GWh. An IPO is also being considered to support growth.
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Polaris Smart Metering will invest Rs 4,500 crore by 2027, including a new 250,000 sq ft facility in Rajasthan, set to double its smart meter production capacity to 10 million units annually by December 2026. The company currently holds a 10% market share and aims to increase it to 20% in three to five years.
Alongside this, Polaris will enter the battery energy storage market with an initial capacity of 1 GWh, targeting 5 GWh in total. Discussions for collaborations with global technology partners are ongoing. The company is also considering an IPO as long-term contracts enhance cash-flow visibility.
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