Exide

Exide Ind gains 4% on investing over Rs 99 crore in Exide Energy Solutions

With this investment, the total investment made by Exide Industries in its arm stands at Rs 3,052.24 crore

Exide Q1FY25 results: PAT rises 16% to Rs 280 cr, revenue up at Rs 4,313 cr

Battery maker Exide Industries on Tuesday said its profit after tax increased 16 per cent to Rs 280 crore for the first quarter ended June 30, 2024. The company had reported a profit after tax of Rs 242 crore in the April-June quarter of the preceding fiscal. Its revenue from operations rose to Rs 4,313 crore for the June quarter compared to Rs 4,073 crore in the year-ago period, Exide Industries said in a regulatory filing. "Both automobile and industrial verticals have delivered growth in the current quarter, and near-term drivers are promising," Exide Industries MD and CEO Avik Roy said. Despite rising raw material prices, cost optimisation initiatives led to lower cost of production and gross margin improvement, he added. "In our lithium-ion project, onsite construction and installation of production line equipment is currently underway," Roy said. Shares of Exide Industries ended 3.54 per cent down at Rs 532 apiece on the BSE.

Hyundai, Kia tie up with Exide for electric vehicle battery localisation

The two auto majors plan to focus on the production of lithium iron phosphate cells. This will make them pioneers in the space

Exide Industries further invests Rs 40 cr in advanced chemistry battery arm

Battery maker Exide Industries Ltd on Wednesday said it has further invested nearly Rs 40 crore in its wholly-owned arm advanced chemistry battery cells manufacturer Exide Energy Solutions Ltd. The investment of Rs 39,99,99,975 has been made by way of subscription in the equity share capital of Exide Energy Solutions Ltd (EESL), on rights basis, Exide Industries said in a regulatory filing. "With this investment, the total investment made by the company in EESL stands at Rs 1,965 crore. There is no change in the shareholding percentage of the company in EESL pursuant to such an acquisition," it added. EESL is in the process of setting up a plant for manufacturing and selling lithium-ion battery cells, modules and pack business. The further capital infusion is to fund the greenfield project and meet various funding requirements of EESL, the company said. EESL is into manufacturing battery cells of advanced chemistry and form factor, including but not limited to cylindrical, pouch,

Exide Industries Q3 results: PAT up 2.3% at Rs 203 cr on investment gains

Battery maker Exide Industries Ltd on Wednesday reported 2.3 per cent increase in consolidated profit after tax at Rs 202.69 crore for the third quarter ended December 31, 2023. The company had posted a consolidated profit after tax (PAT) of Rs 198.14 crore in the same quarter last fiscal, Exide Industries said in a regulatory filing. Revenue from operations in the quarter under review was at Rs 3,979.83 crore as compared to Rs 3,538.5 crore in the year-ago period. Total expenses were higher at Rs 3,724.3 crore as against Rs 3,286.36 crore in the same quarter a year ago, the company said. "Demand was positive in both automotive and industrial divisions, and we achieved healthy growth in our key end-customer markets. However, EB/TOA margin was marginally lower than the same quarter in the previous year mainly on account of input cost inflation," Exide Industries MD & CEO, Subir Chakraborty said. In the automotive division, the last few months have seen an uptrend in demand in ...

Charts signal strength in Exide; Bull Spread Strategy ideal for Dec expiry

Long build up was seen in Exide Futures on Thursday where Open Interest rose by 9 per cent (Prov) and the stock gained 3.20 per cent

Exide Energy to double up its production capacity, seeks additional land

The company leadership team led by Managing Director and CEO Mandar V. Deo met large and medium industries minister MB Patil on Monday and submitted a proposal in this regard

Exide Industries to start lithium-ion cell project's phase-1 by FY25-end

The growing interest in electric vehicles is fuelling global demand for automotive lithium-ion batteries, it's worth noting

Exide Q1FY24 results: Net profit at Rs 241 cr YoY; revenue up 4.2%

On a quarter-on-quarter basis, the revenue for operations was up 14.94% at Rs 3,542.96 crore

Exide posts Rs 181 crore Q4 net profit; revenue at Rs 3,677 crore

Battery maker Exide Industries on Monday posted a consolidated net profit of Rs 181 crore for the fourth quarter ended March 31, 2023. The company had logged a net profit of Rs 3,953 crore in the year-ago period, boosted by one-time income on account of sale of its subsidiary Exide Life Insurance Company Ltd. Revenue from operations rose to Rs 3,677 crore in January-March 2023 as against Rs 3,523 crore in the year-ago period, Exide Industries said in a regulatory filing. For the year ended March 31, 2023, the company reported a net profit of Rs 823 crore. It stood at Rs 4,357 crore in FY22 on account of sale of the subsidiary. Revenue from operations stood at Rs 15,078 crore as against Rs 12,789 crore in FY22. The company said its board has recommended a final dividend of Rs 2 per equity share of face value of Re 1 each for 2022-23. Shares of the company were trading 2.59 per cent up at Rs 192 apiece on BSE.

Exide's Li-ion cell plant in Karnataka to be ready in 27-30 months

Lead-acid battery major Exide Industries on Thursday said the first phase of its 6Gwh lithium-ion battery plant in Karnataka will be ready in 27-30 months, and it has lined up Rs 3,800-4,000 crore investment to execute the project. The project, spread over 80 acres, will expand to become a 12-Gwh (Gigawatt hour) capacity integrated lithium-ion battery facility involving a total investment of Rs 6,000 crore, and it will take 8-10 years to reach its peak capacity. "The first phase of 6 Gwh capacity cell making facility including modules in Karnataka will be ready in 27-30 months and will require an investment of Rs 3,800-4,000 crore. Funding will in a combination of internal accruals and bridge loans. The total capex will be Rs 6,000 crore to reach the 12Gwh capacity," Exide managing director & CEO Subir Chakraborty said at a virtual interaction after the company's annual general meeting. He said activities at the site have already started and the journey so far with SVOLT-- its ...

Exide Industries announces investment of Rs 6,000 crore in Karnataka

Exide Industries on Thursday announced an investment of Rs 6,000 crore in Karnataka. This is for setting up one of the largest giga factories for advanced cell chemistry technology. "Exide Industries MD & CEO, Subir Chakraborty, met with Chief Minister (Basavaraj Bommai) this morning for Rs 6,000 crore investment in a Lithium-Ion cell manufacturing giga factory," Department for Industries and Commerce said in a statement. Stating that this will be one of the country's largest giga factories for advanced cell chemistry technology, it said Exide has requested 80 acres of land in the Haraluru Industrial Area near Bengaluru airport. The project is expected to generate 1,200 -1,400 employment opportunities, it added.

Exide to set up Lithium-ion cell plant, signs agreement with China's SVOLT

Under the the agreement, SVOLT will grant Exide an irrevocable right, licence to use, exploit and commercialise necessary tech and know-how owned by them for Li-ion cell manufacturing in India

Exide Life appoints Sanjay Vij as Executive Director and Principal Officer

Exide Life has announced the appointment of Sanjay Vij as the Executive Director and Principal Officer with effect from January 10. On January one, 2022, HDFC Life Insurance Company Limited announced the completion of the acquisition of Exide Life Insurance Company Limited, subsequent to receiving all relevant regulatory approvals, an Exide Life statement noted on Monday. Pursuant to the agreement, there was a cash pay-out of Rs. 726 crore and 8,70,22,222 equity shares at an issue price of Rs 685 per share were allotted to Exide Industries Limited. Exide Industries now holds 4.1 per cent stake in HDFC Life. The process for merger of Exide Life into HDFC Life will be initiated shortly, the statement said. Vij joined HDFC Life in July 2001. As the Group Head - Bancassurance and Chief Values Officer (CVO) in HDFC Life, he was responsible for managing the P&L, market growth, and business of crucial bancassurance channels, it was stated.

Signs of green shoots in PVs, two-wheelers: Exide CEO Gautam Chatterjee

Many OEMs have registered improved sales vis-a-vis the past couple of months, and these bring back a sentiment of resolve to the sector, he said

Covid-19 impact: Exide cuts pay by 15-30% across cadres, lower staff spared

Situation will be reviewed end of Q1FY21; With no payment coming in from customers, firms has resorted to bank loans to pay salaries

Battery firms better placed as medium-term outlook looks attractive

Replacement demand, lower lead costs are positives for Exide and Amara Raja

Replacement sector fails to power Exide's numbers in September quarter

Firm de-risking business model but pressure on revenue likely in the near term

Exide forays into commercial electronic vehicles space, launches e-rickshaw

In the next six months, Exide will be coming up with a lithium-ion variant of the same e-rickshaw which will be priced higher than the existing one

Auto slowdown, weaker-than-expected Q3 results cloud Exide's outlook

Given the slight increase in lead prices over the last month, the ability of the company to maintain margins will depend on the extent of hikes it takes