Exide Industries Limited — Important, 17-04-2025: General Updates

Exide Industries Limited has invested ₹299.99 crore in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights issue. This increases the total investment in EESL to approximately ₹3,602.23 crore. EESL, established in March 2022, focuses on manufacturing lithium-ion batteries for electric vehicles and stationary applications. As of March 31, 2024, EESL reported a paid-up equity share capital of ₹1,204.21 crore, a net worth of ₹1,981.56 crore, and a turnover of ₹239.14 crore, although it incurred a loss after tax of ₹149.45 crore for the fiscal year. The investment aims to support EESL's greenfield manufacturing project in Bengaluru, allowing the company to meet its funding needs while maintaining a 100% shareholding in EESL. This investment reflects a positive outlook for Exide as it strengthens its position in the growing electric vehicle market.