Founded in 1988 by A J Prasad in a joint venture with Nife, Sweden, the company's primary activities include manufacturing various types of batteries such as Lead Acid, NiCad, Silver Zinc, Lithium, Railway and Defense Electronics, Solar Photovoltaic Modules, and other related products. Commercial production commenced in August 1988. Over the years, the company diversified into manufacturing uninterrupted power systems and sealed lead-acid batteries.
In subsequent years, strategic mergers and acquisitions, along with expansions into new markets, marked the company's growth trajectory. The company established subsidiaries and manufacturing facilities both domestically and internationally, including in Malaysia and the USA. Additionally, it engaged in divestments and buyback programs to optimize its portfolio.
In recent years, notable achievements include advancements in defense technology, such as the manufacturing and supply of batteries for submarines and missiles, as well as developments in electronics, particularly in train collision avoidance systems. The company also made significant strides in battery technology, with Pure Lead Thin Plate (PLT) batteries finding applications in data centers and military operations.
Overall, HBL NIFE Power Systems Limited has evolved into a multifaceted organization, continuously innovating and expanding its presence in various sectors, both domestically and globally.