Exide Industries

Revenue from operations rises 6.8% to Rs 3,539 crore on volume growth

Analysts on average had expected a profit of Rs 236 crore, according to Refinitiv IBES data

Exide Industries expects an annual revenue of Rs 10,000 crore- Rs 12,000 crore in the next 8-10 years from the lithium-ion cell business

Thus far in 2022, key raw materials used in automobile manufacturing like steel, iron ore, aluminum, nickel, and rubber have dropped in the range of 16 per cent to 45 per cent.

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Battery maker Exide Industries on Friday reported an over five-fold rise in consolidated net profit after tax to Rs 202.44 crore for the first quarter ended June 30, driven by higher revenue.

The plant, with total installed capacity of 1.5 Gigawatt hours (GWh), has six automated assembly lines on which it will produce batteries for automobiles and energy storage applications

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.

Storage battery major Exide Industries has forged a multi-year technical collaboration with a Chinese company for lithium Ion battery manufacturing in India.

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Exide Industries on Monday said its consolidated net profit declined 26 per cent to Rs 178 crore in the third quarter ended December 31, 2021. The company had reported a net profit of Rs 240 crore in the same period of 2020-21. Revenue from operations rose to Rs 3,312 crore as compared with Rs 2,891 crore, Exide Industries said in a regulatory filing. "Due to unprecedented input cost inflation, profitability has been adversely impacted," MD & CEO Subir Chakraborty noted. The Kolkata-based company said its board has declared an interim dividend of 200 per cent for 2021-22.

The battery maker had reported a net profit after tax of Rs 256.62 crore in the corresponding quarter of the preceding fiscal

On the other hand, HDFC Life was down 4 per cent at Rs 728.55 on the BSE on profit booking

The country's largest lead acid battery maker, Exide Industries Ltd, on Tuesday said it is evaluating foray into manufacturing Advance Cell Chemistry batteries, commonly referred to as lithium-ion batteries. To take a final call, the company is waiting for the Productivity Linked Incentive (PLI) details to come. The Centre recently approved a PLI scheme on such batteries. The scheme outlay of Rs 18,100 crore is intended to establish 50 Giga Watt Hour (GWh) of advanced cell chemistry and 5 GWh of niche advanced cell chemistry. We are evaluating installing Advance Cell Chemistry Project. We are waiting for the PLI details as it will act as a sweetner.... It entails huge capex. However, the project viability will depend on future demand for lithium based batteries, Exide MD & CEO Subir Chakraborty said on the sidelines of the company's AGM. Finer details will be worked out later, Chakraborty said. "As a thumb rule for each gigawatt hour capacity cell, the plant will cost about Rs 700

Shares of the company on Friday ended 2.44 per cent up at Rs 178.55 apiece on the BSE.

Eicher Motors' stock has been trading with a positive bias and is placed well above all its major exponential moving averages on the daily time frame

Street prefers Exide to Amara Raja, given the valuation difference

Exide Industries said uncertainties have increased as customer orders have started getting impacted due to the second wave of COVID-19

Battery maker Exide Industries on Friday reported over two-fold jump in consolidated net profit after tax (PAT)

Pick-up in industrial consumption, relatively benign lead prices point to improved earnings prospects