Latest news with #78thAnnualGeneralMeeting
Economic Times
3 days ago
- Automotive
- Economic Times
Exide outlines growth strategy with dual focus on lead-acid, lithium-ion batteries
Synopsis Exide Industries is strategically focusing on both its lead-acid battery business and lithium-ion segment to lead energy storage. Commercial production at its lithium-ion cell manufacturing facility is expected to commence this fiscal year. The company invested significantly in its lithium-ion business and transitioned to a 'One-Exide' operating model, reporting double-digit growth in most business segments. TIL Creatives AI generated image for representation purposes. Exide Industries on Saturday said it is strategically poised to lead the future of energy storage through a dual-pronged focus on its conventional lead-acid battery business and the next-generation lithium-ion at the company's 78th Annual General Meeting, Exide Industries chairman Sridhar Gorthi said, "Despite the macroeconomic headwinds and a slowdown in capex across sectors, your company has demonstrated resilience and reaffirmed the commitment to new horizons of innovation, operational excellence, and sustainable growth." He said that commercial production at the company's lithium-ion cell manufacturing facility under its wholly owned subsidiary Exide Energy Solutions Ltd (EESL) is expected to commence during the current financial year."Exide stands fully prepared for the future," Gorthi said, as he cited policy tailwinds such as the PLI scheme and lower import duties that are accelerating EV adoption and battery storage Director and CEO Avik Roy, in his address, described FY25 as a year of "resilience and strategic progress", during which the company transitioned to a "One-Exide" operating model with B2B, B2C, and international verticals. "This shift reflects our commitment to agility, accountability, and strategic clarity," Roy said, adding that "Approximately 70 per cent of our business segments delivered double-digit growth." He highlighted that Exide invested Rs 1,000 crore in FY25 in the lithium-ion business and infused another Rs 400 crore in FY26, taking the total equity investment in EESL to Rs 3,702 crore. "These investments reflect our long-term commitment to building a robust and scalable lithium-ion ecosystem in India," Roy operational highlights, the four-wheeler aftermarket grew in double digits, while the two-wheeler battery segment, after a sluggish start, rebounded strongly in Q4. The solar business also posted consistent double-digit flagged that traction and standby battery exports were subdued due to weak demand in Europe and the GCC, and telecom battery sales were impacted by a shift to lithium-ion. However, he stressed that Exide is adapting quickly to these trends."We are providing both lead-acid and lithium-ion solutions through Exide Energy Solutions," he continued focus on R&D and digital transformation was another major theme. "We are boosting our factory efficiency, quality, and forecasting accuracy through Industry 4.0 tools and AI-based systems," Roy also pointed to the rollout of new technologies like punched grid batteries and CONCAST technology for better product sustainability, he said more than 75 per cent of the company's lead requirements were met through recycled inputs, and over 20 per cent of electricity consumption came from renewable sources. "Sustainability is embedded in our operations from green energy adoption and eco-friendly products to expanded recycling capacity and green logistics," Roy added. Looking ahead, the chairman said, "Our investments in lithium-ion technology, alongside the continued strength of our lead-acid battery business, position us well to meet evolving energy demands." The company had posted a consolidated profit after tax (PAT) of Rs 1,077 crore for FY 2024-25, up from Rs 1,053 crore a year ago.
The Hindu
16-07-2025
- Business
- The Hindu
Global markets turned unpredictable in FY'25; external environment may continue to stay uncertain: Wipro Chairman Rishad Premji
Financial year 2025 was a year of significant change for Wipro and the world, with markets entering a fast-moving and unpredictable environment, said Wipro Chairman Rishad Premji. ''The macro landscape kept shifting, and technologies like AI were scaling rapidly. AI — especially Generative and Agentic AI — is becoming a game-changer,'' he said while addressing shareholders at the company's 78th Annual General Meeting here on Wednesday (July 16, 2025). However, he said, the changed scenario has been helping Wipro rethink how it worked, uncover new growth opportunities, and deliver greater value to its clients. 'Through all of this, we've stayed focused on our clients. We've executed with discipline and made bold investments to prepare for what's next. These choices are shaping Wipro's next chapter,'' said Jr. Premji. On the market outlook, he said, the external environment may stay uncertain. But resilient businesses were built during times like these. 'We've used this time to invest in our people, deepen our client relationships, and stay grounded in our purpose. Wipro's eight-decade-long journey has never been about short-term wins, but has been about long-term stewardship, constant reinvention, and doing business the right way. We carry that same spirit forward — with clarity, humility, and determination,'' he stated. He informed shareholders that, in FY25, Wipro reported $10.5 billion in revenue, which was a 2.3% decrease year-on-year in constant currency. Net income stood at ₹131.4 billion, showing strong growth of 18.9% year-on-year. Our IT services operating margin was 17.1%, an improvement of 0.9% over FY24. Earnings per share came in at 12.6 rupees, up 20.3% from last year. Our operating cash flow was close to 2 billion dollars, at 128% of net income. 'Starting from FY26, we expect to return to shareholders at least 70% of the net income cumulatively over three years. A one-to-one bonus issue in Q2 and an interim dividend of 6 rupees per share in Q3 highlight our strong commitment to returning value to our shareholders,'' Mr. Premji added. He further said, this December, Wipro would turn 80, of which nearly 50 years have been in the technology business, navigating disruption through continuous innovation, strong client trust, and a long-term mindset. According to him, Wipro's innovation strategy is driven by Wipro Innovation Network, a global ecosystem that brings together the company's innovation labs, Wipro Ventures, partner labs, cloud studios, and the Topcoder community — all working as one. 'It allows us to co-create faster and deliver next-generation solutions at scale,'' he claimed. Wipro Ventures, a strategic investment arm set up in 2015, which was designed to connect the company's enterprise clients with the global startup ecosystem, has already made a commitment of $500 million, supporting early to mid-stage companies that are building cutting-edge enterprise software, and firms focused on AI and automation. 'We help these startups scale, bring their ideas to market, and deliver real strategic value for our clients,'' he explained to the audience. More focus on employee wellbeing this year, says Mr. Premji Inclusion, Mr. Premji said, was core to how Wipro hired and grew. Today, 37% of its workforce was women, and 37% were Gen Z. The company continued to build a diverse, multigenerational workplace that values gender, ethnicity, orientation and ability and in addition, the company was also deeply committed to creating an inclusive, supportive workplace where everyone feels they belong, he said. 'This year in particular, we have put even more focus on employee well-being and self-care, helping people thrive, both personally and professionally. Our approach is flexible and thoughtful, meeting people where they are in their journey. We built a framework that offers tailored support which covers physical health, mental well-being and work-life balance. Our goal is to make sure every associate feels empowered, supported, valued, and equipped to do their best,'' he commented. He also said agentic AI was making a tangible impact across Wipro's internal operations — from HR and finance to legal and beyond. 'As an example, our medical claims solution now processes over 10,000 employee claims every month — entirely touchless. This automation boosts both speed and service quality, setting a new benchmark for internal efficiency.''
Mint
06-05-2025
- Business
- Mint
Piramal Enterprises Q4 Results: Net profit down 25% YoY to ₹102 crore, dividend declared. Check details here
Piramal Enterprises Q4 Results: Piramal Enterprises Ltd announced its January to March quarter results on Tuesday, May 6, 2025. The company recorded a 25 per cent fall in its net profit to ₹ 102.44 crore in the fourth quarter of the financial year 2024-25, compared with ₹ 137.09 crore in the same period a year ago, according to the consolidated financial statements. The NBFC's interest income for the fourth quarter witnessed a 19 per cent rise to ₹ 2,263.6 crore, compared year-on-year (YoY) with ₹ 1,900.85 crore in the same period a year ago. Piramal Enterprises on Tuesday also announced a 550 per cent final dividend of ₹ 11 per equity share of the face value of ₹ 2 apiece for the financial year ended 2024-25, according to the filing data. 'The Board has recommended a Final Dividend of ₹ 11 per equity share of face value of ₹ 2 each (i.e. @ 550%) for the financial year ended 31st March, 2025, which shall be paid/dispatched after the 78th Annual General Meeting, subject to approval of the shareholders of the Company,' said the company in the BSE filing. This means that every eligible shareholder will receive ₹ 11 per share for every share they hold of the non-banking financial company (NBFC). This upcoming final dividend will mark the second dividend issue of the 2024-25 fiscal, with the first one issued on July 5, 2024, a dividend of ₹ 10 per share. Piramal Enterprises shares closed 4.25 per cent lower at ₹ 964.75 after Tuesday's stock market session, compared to ₹ 1,007.55 in the previous market close. The NBFC announced its fourth quarter results after stock market operating hours on Tuesday. Piramal Enterprises shares have generated more than 8 per cent returns on investment in the last five years and 0.73 per cent returns in the last one-year period. However, on a year-to-date (YTD) basis, the stock has lost 12.43 per cent in 2025, yet is trading 0.39 per cent higher in the last one-month period. The shares hit their 52-week high level at ₹ 1,275.40 on December 12, 2024, while their 52-week low level at ₹ 736.60 on June 4, 2024, according to the data collected from the BSE website. The market capitalisation (M-Cap) of the company was at ₹ 21,752.96 crore as of the stock market close on May 6, 2025.
Mint
06-05-2025
- Business
- Mint
Piramal Enterprises Q4 Results: Net profit down 25% YoY to ₹102 crore, dividend declared. Check details here
Piramal Enterprises Q4 Results: Piramal Enterprises Ltd announced its January to March quarter results on Tuesday, May 6, 2025. The company recorded a 25 per cent fall in its net profit to ₹ 102.44 crore in the fourth quarter of the financial year 2024-25, compared with ₹ 137.09 crore in the same period a year ago, according to the consolidated financial statements. Piramal Enterprises on Tuesday also announced a 550 per cent final dividend of ₹ 11 per equity share of the face value of ₹ 2 apiece for the financial year ended 2024-25, according to the filing data. 'The Board has recommended a Final Dividend of ₹ 11 per equity share of face value of ₹ 2 each (i.e. @ 550%) for the financial year ended 31st March, 2025, which shall be paid/dispatched after the 78th Annual General Meeting, subject to approval of the shareholders of the Company,' said the company in the BSE filing. This means that every eligible shareholder will receive ₹ 11 per share for every share they hold of the non-banking financial company. This upcoming final dividend will mark the second dividend issue of the 2024-25 fiscal, with the first one issued on July 5, 2024, a dividend of ₹ 10 per share. (This is a breaking story. The story will be updated soon) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions. First Published: 6 May 2025, 06:16 PM IST
