Eastman Auto and Power Limited (EAPL), a major player in India’s clean-energy market, has quietly filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). By choosing the confidential route, the company can complete its regulatory process without making details public right away.
EAPL was founded in 2000 under the JRS Eastman Group and has grown into a strong energy-solutions brand. It focuses on three main areas: last-mile e-mobility, advanced power electronics, and solar energy systems with integrated storage. The company follows a “Made in India, for the World” approach, led by its Managing Director, Shekhar Singal.
One of EAPL’s biggest strengths is its leadership in the electric three-wheeler (E3W) battery segment. In FY2025, the company held more than 50% market share, making it a dominant supplier for the E3W market. It works with over 400 original equipment manufacturers (OEMs) across India and supports them through a wide distribution network of 2,500 service partners and 1,200 distributors.
EAPL operates eight manufacturing facilities across India, including three plants dedicated to power electronics. Together, these facilities can produce up to two million units annually. Its product line includes E3W chargers, solar inverters, UPS systems, and home inverters. The company also invests heavily in technology, with a research and development team of more than 200 experts and multiple patents and design registrations.
A major milestone for the company is its new 800 MW solar panel manufacturing plant in Sonipat. This facility strengthens EAPL’s position as a full-scale solar-solutions provider. It now offers lithium-based storage systems, solar batteries, and various types of inverters, helping meet India’s fast-growing demand for solar energy.
EAPL is also a leading exporter of solar-storage batteries, serving customers in over 50 countries. The company posted revenue of ₹4,228 crore in FY25, with a strong growth rate of 28% between FY23 and FY25. With rising demand in electric vehicles and solar power, EAPL’s IPO move comes at a promising time for India’s clean-energy transition.
