13-05-2025
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.
