Exide launches heavy-duty batteries

Exide Industries Ltd launched heavy duty UPS batteries under its EL+ premium tubular range here.

Exide EL+ will cost Rs 7,500. The normal life span of a tubular battery is anywhere between 8 and 10 years. The company is planning to spend Rs 40-50 crore on technology ugrade.

Exide has developed the high corrosion-resistant, robust spines using the HADI process. With this launch the company is planning to achieve a target of Rs 1,800 crore by the end of this fiscal.

The company's turnover last year stood at Rs 1,480 crore.

On this occasion, S Kalla, vice-president, Exide Industries Ltd, said, "Punjab is a potential market for us. We have a 50 per cent market share here in VRLA batteries, but this time we are concentrating on tubular batteries. On technology upgrade itself, we will be spending close to Rs 50 crore. The EL+ range is manufactured by using one of the world's most advanced and costly HADI casting process, ensuring long life and highest realiability. Going by the response even before the new batteries have hit the market, it is clear that batteries are going to create quite a splash in the future. We plan to tap banks, hospitals, insurance companies, software and IT enabled service companies, especially, where 100 per cent uptime is absolutely essential. This adds to the existing EL range in the flooded battery segment and powersafe brand in the VRLA segment," said Kalla.

The company's generates 5-7 per cent of its revenues from exports. Right now it exports to the south African and Gulf countries.