Latest news with #AvikRoy
The Print
14-05-2025
- Business
- The Print
Exide aims at Rs 20,000 cr topline in 2-3 yrs
The battery maker also plans to invest Rs 1,600-1,700 crore in the current fiscal, covering both lithium-ion cell manufacturing and the lead-acid segment, an official said. Kolkata, May 13 (PTI) Exide Industries on Tuesday said it is targeting a revenue of Rs 20,000 crore over the next two to three years, banking on steady growth in its lead-acid battery business. 'Our business outlook remains strong. Over the next two to three years, revenue will touch Rs 20,000 crore from the current level of around Rs 16,500 crore,' Exide MD & CEO Avik Roy said. The projection is primarily based on the lead-acid battery business and does not include estimates from its upcoming lithium-ion cell manufacturing facility, which is expected to be operational in FY'26, he said. 'Cell manufacturing is a strategic foray, given the immense potential of EVs in the country, but we do not want to make revenue guess at this stage as they will depend on market adoption,' Roy said. The company expressed confidence in improved margins and cash flow going forward, after facing pressure in the March 2025 quarter due to high input costs. Antimony, a key raw material, witnessed an unprecedented price surge over the past year, impacting profitability, the company official said. 'Although we implemented a price hike of about 5 per cent to pass on the cost, there was a lag between cost escalation and pricing action. That created a hurdle, but things are now stabilising,' he added. PTI BSM BDC This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
13-05-2025
- Automotive
- Time of India
Exide eyes Rs 20k cr revenue from lead-acid battery biz in 2 yrs
1 2 3 Kolkata: Exide Industries is planning to increase its revenue from lead-acid battery business to around Rs 20,000 crore over the next couple of years from the current Rs 16,500 crore, with the outlook remaining strong."We are aiming to raise the company's revenue from the lead-acid business to Rs 20,000 crore in the next two to three years," Exide Industries MD & CEO Avik Roy said on Tuesday. At the end of the last financial year, the company's revenue from this business was around Rs 16,500 crore."As we enter FY26, the outlook for the lead-acid business remains positive across most business verticals. I believe that Exide, with its advanced product portfolio, pan-India distribution network and strong brand recall, will continue to benefit from the growth opportunities," Roy said during the company's Q4FY25 earnings call last to the company, domestic auto replacement demand was robust throughout the last financial year, while auto OEM demand, especially in the passenger vehicles segment, didn't see any meaningful uptick in demand. In reserve power, both industrial UPS and solar trade markets witnessed steady growth in demand, but the home-UPS market remained soft, with its demand expected to ramp up in the first quarter of this fiscal intends to commercialise the first phase of the lithium-ion cell manufacturing operations in Karnataka this fiscal year. In the first phase, it will set up a 6 gigawatt-hour lithium-ion cell manufacturing far, Exide has invested around Rs 3,600 crore in its wholly owned subsidiary Exide Energy Solutions (EESL). "We have the board approval to invest an additional Rs 1,200 crore in this financial year," Roy said.
Time of India
13-05-2025
- Automotive
- Time of India
Exide aims to become a ₹20,000 crore company in the next 2-3 years
The storage battery maker Exide Industries is aiming to become a ₹20000-crore company in the next two to three years, growing from ₹16588 crore as of end March, managing director Avik Roy said Tuesday in his first ever media interaction. He said that the first phase of the green-field lithium-ion cell manufacturing plant would be up and running by the end of FY26. Kolkata-headquartered Exide's subsidiary Exide Energy Solution is setting up the country's first lithium-ion cell manufacturing unit in Bengaluru with a proposed 12 gigawatt hour capacity in two equal phases of 6 gigawatt hour each targeting the rapidly expanding local electronic vehicle market. It signed a non-binding agreement with Hyundai Motor and Kia Corporation for strategic cooperation in the market. Exide has so far made equity investment of ₹3600 crore into the subsidiary while the board has approved another ₹1200 crore for the first phase of the unit. Roy, who took the driver's seat at Exide on May 1, last year, said that the company also invests about ₹500 crore every year into its lead-storage battery units. "As we enter FY26, the outlook for the lead-acid business remains positive across most business verticals. During the year, we have strengthened our businesses and go-to-market strategy, by transitioning from a SBU-led organisation to a Functional Organisation. We have also strengthened our senior leadership team by bringing in seasoned business leaders from global corporations," Roy said. Exide reported a 3% rise in annual net profit for FY25 at ₹1,077 crore over the preceding year profit.
Time of India
13-05-2025
- Automotive
- Time of India
Exide aims to become a Rs 20000-crore company in the next 2-3 years
Exide Industries plans to reach Rs 20000 crore in the next few years. Avik Roy shared the company's growth strategy. Exide is setting up a lithium-ion cell manufacturing unit in Bengaluru. This unit will support the growing electric vehicle market. Exide has signed an agreement with Hyundai Motor and Kia Corporation. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Kolkata: The storage battery maker Exide Industries is aiming to become a Rs 20000-crore company in the next two to three years, growing from Rs 16588 crore as of end March, managing director Avik Roy said Tuesday in his first ever media said that the first phase of the green-field lithium-ion cell manufacturing plant would be up and running by the end of Exide's subsidiary Exide Energy Solution is setting up the country's first lithium-ion cell manufacturing unit in Bengaluru with a proposed 12 gigawatt hour capacity in two equal phases of 6 gigawatt hour each targeting the rapidly expanding local electronic vehicle signed a non-binding agreement with Hyundai Motor and Kia Corporation for strategic cooperation in the has so far made equity investment of Rs 3600 crore into the subsidiary while the board has approved another Rs 1200 crore for the first phase of the who took the driver's seat at Exide on May 1, last year, said that the company also invests about Rs 500 crore every year into its lead-storage battery units."As we enter FY26, the outlook for the lead-acid business remains positive across most business verticals. During the year, we have strengthened our businesses and go-to-market strategy, by transitioning from a SBU-led organisation to a Functional Organisation. We have also strengthened our senior leadership team by bringing in seasoned business leaders from global corporations," Roy reported a 3% rise in annual net profit for FY25 at Rs 1,077 crore over the preceding year profit.
Time of India
30-04-2025
- Business
- Time of India
Exide Industries posts 10% fall in Q4 PAT to Rs 255 crore
Kolkata: Exide Industries saw a 10% drop in net profit to Rs 255 crore in fourth quarter of the last fiscal year, down from Rs 284 crore in the same period one year ago. For the fourth quarter of FY2024-25, standalone revenues were Rs 4,159 crore, registering an increase of 3.5% on a year-on-year basis. The board of directors has proposed a final dividend of Rs 2 per equity share for FY2024-25. According to the company, replacement market demand for 2W and 4W batteries was buoyant, registering double-digit growth in mobility business driven by technologically advanced products and solutions. Industrial UPS trade business benefited from increasing demand for critical power backup solutions, and solar business posted double-digit growth. However, the home-UPS business was lower than last year. The auto OEM business was also impacted by lower demand. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata Avik Roy, MD & CEO, said FY2024-25 was characterised by tough macroeconomic conditions, resulting in lower capex and investments. "In this environment, our focus remained on delivering stable performance along with maintaining a strong balance sheet and a positive cash flow generation profile," said Roy.
