Company Profile
Exide Industries Limited is a leading player in the energy storage and mobility solutions sector, recognized for its commitment to sustainability, innovation, and stakeholder value creation. The company is a pioneer in providing cutting-edge battery solutions for automotive, industrial, and renewable energy applications. Exide drives progress through sustainable practices, leveraging its expertise in lead-acid and lithium-ion battery technologies. It caters to both B2C and B2B markets, with significant growth in the B2B sector, both domestically and internationally. Exide’s operations are guided by a consumer-centric approach, robust corporate governance, and a vision to deliver long-term value through technology and innovation.
The company’s mission is to power progress with sustainable energy solutions, as evidenced by its emphasis on reducing greenhouse gas emissions, recycling waste batteries, and advancing lithium-ion technology through its wholly-owned subsidiary, Exide Energy. With a market worth of ₹14,442.34 crore in FY 2024-25, Exide maintains a strong and flexible balance sheet, ensuring financial stability and growth. Its stakeholder engagement policies foster transparency and collaboration, while initiatives like Exide Akshar underscore its commitment to education and community development. Exide’s operations span multiple geographies, with a focus on India and strategic international markets, positioning it as a trusted name in the global energy storage industry.
Business Segments
Exide Industries operates across several key business segments, each contributing to its diversified portfolio and market leadership. Below is a comprehensive overview of its business segments, with revenue breakup percentages based on the company’s performance in FY 2024-25.
- Automotive Batteries
- Description: Exide is a dominant player in the automotive battery market, providing lead-acid and lithium-ion batteries for vehicles, including two-wheelers, three-wheelers, four-wheelers, and commercial vehicles. The segment caters to both original equipment manufacturers (OEMs) and aftermarket consumers, focusing on reliability and performance.
- Key Highlights: The segment emphasizes innovation in battery technology to meet the growing demand for electric vehicles (EVs) and hybrid vehicles. Exide has partnerships with leading OEMs to localize EV battery production, enhancing market responsiveness.
- Revenue Contribution: Approximately 60% of total revenue.
- Industrial Batteries
- Description: This segment includes batteries for industrial applications such as telecommunications, railways, power backup systems, and renewable energy storage. Exide’s industrial batteries are designed for high durability and efficiency in demanding environments.
- Key Highlights: The segment has seen robust growth in B2B applications, particularly in renewable energy and infrastructure projects. Exide’s batteries are used in utility buildings, cooling towers, and effluent treatment plants (ETPs).
- Revenue Contribution: Approximately 25% of total revenue.
- Energy Storage Solutions (Exide Energy)
- Description: Through its wholly-owned subsidiary, Exide Energy, the company focuses on lithium-ion batteries and energy storage systems for renewable energy and EV applications. This segment aligns with India’s renewable energy targets and global sustainability trends.
- Key Highlights: Exide Energy is driving the development of advanced lithium-ion technologies, with applications across solar, wind, and grid storage systems. The segment is pivotal in reducing carbon emissions and supporting green mobility.
- Revenue Contribution: Approximately 10% of total revenue.
- Recycling and Lead Processing (Chloride Metals Limited)
- Description: Exide operates a recycling business through its subsidiary, Chloride Metals Limited (CML), focusing on the procurement and processing of waste batteries to produce recycled lead. This segment supports circularity and environmental responsibility.
- Key Highlights: CML caters to Exide’s recycled lead requirements, ensuring sustainable sourcing and reducing environmental impact. The company’s recycling efforts contribute to a 282 tCO₂e reduction in emissions.
- Revenue Contribution: Approximately 5% of total revenue.
Revenue Breakup Summary:
- Automotive Batteries: 60%
- Industrial Batteries: 25%
- Energy Storage Solutions: 10%
- Recycling and Lead Processing: 5%
Products and Services Offered
Exide Industries offers a wide range of products and services, primarily centered around battery manufacturing and energy storage solutions. Below is a detailed list of offerings, with revenue breakup percentages for FY 2024-25.
- Lead-Acid Batteries
- Description: Exide’s flagship product, lead-acid batteries, are used in automotive (two-wheelers, four-wheelers, commercial vehicles) and industrial applications (telecom, railways, power backup). These batteries are known for their durability, cost-effectiveness, and reliability.
- Applications: Automotive OEMs, aftermarket replacements, UPS systems, inverters, and railway signaling.
- Revenue Contribution: Approximately 70% of total revenue.
- Lithium-Ion Batteries (Exide Energy)
- Description: Through Exide Energy, the company produces lithium-ion batteries for electric vehicles, renewable energy storage, and portable devices. These batteries offer higher energy density and longer lifespan compared to lead-acid batteries.
- Applications: Electric vehicles, solar and wind energy storage, grid-scale storage systems, and consumer electronics.
- Revenue Contribution: Approximately 15% of total revenue.
- Battery Recycling Services
- Description: Exide provides battery recycling services through Chloride Metals Limited, focusing on the collection, processing, and recycling of used batteries to produce high-quality lead for reuse in manufacturing.
- Applications: Sustainable sourcing of raw materials, environmental compliance, and circular economy initiatives.
- Revenue Contribution: Approximately 5% of total revenue.
- After-Sales and Customer Support Services
- Description: Exide offers comprehensive after-sales support, including warranty services, battery maintenance, and customer engagement programs. The company uses digital campaigns and toll-free helplines (1800-21-06911) to enhance customer experience.
- Applications: Consumer support for battery installation, troubleshooting, and replacements across automotive and industrial segments.
- Revenue Contribution: Approximately 5% of total revenue.
- Energy Management Solutions
- Description: Exide provides energy management solutions, including battery storage systems for renewable energy projects and infrastructure applications. These solutions are tailored to meet the needs of power utilities and industrial clients.
- Applications: Renewable energy integration, grid stabilization, and power backup for critical infrastructure.
- Revenue Contribution: Approximately 5% of total revenue.
Revenue Breakup Summary:
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- Lead-Acid Batteries: 70%
- Lithium-Ion Batteries: 15%
- Battery Recycling Services: 5%
- After-Sales and Customer Support Services: 5%
- Energy Management Solutions: 5%
Company History
Exide Industries Limited has a rich history spanning several decades, evolving from a modest battery manufacturer to a global leader in energy storage solutions. The company has consistently adapted to technological advancements and market demands, solidifying its position in the industry.
- Early Beginnings (1940s-1950s): Founded as Associated Battery Makers (Eastern) Ltd., Exide began its journey in India with a focus on manufacturing lead-acid batteries for automotive and industrial applications. The company established its first manufacturing facility in Kolkata, laying the foundation for its growth.
- Growth and Expansion (1960s-1980s): During this period, Exide expanded its production capacity and diversified its product portfolio. The company introduced batteries for railways, telecommunications, and power backup systems, capitalizing on India’s industrial growth. Strategic partnerships with global technology providers enhanced its product quality and market reach.
- Market Leadership (1990s-2000s): Exide solidified its dominance in the Indian battery market, becoming the preferred supplier for automotive OEMs and industrial clients. The company invested heavily in research and development, introducing advanced lead-acid battery technologies. It also expanded its distribution network, catering to both urban and rural markets.
- Sustainability and Innovation (2010s-Present): In the 2010s, Exide embraced sustainability as a core pillar, focusing on recycling and green technologies. The establishment of Exide Energy marked its entry into lithium-ion battery production, aligning with the global shift toward electric vehicles and renewable energy. The company achieved significant milestones, such as a market worth of ₹14,442.34 crore in FY 2024-25 and a 282 tCO₂e reduction in emissions through recycling initiatives.
- Recent Developments (2024-25): Exide continues to innovate, with partnerships for EV battery localization and expansion into renewable energy storage. The company’s focus on digital transformation, customer engagement, and talent management has positioned it for sustained growth in a competitive market.
Over the decades, Exide has earned its position as a trusted brand through consistent innovation, quality, and a commitment to sustainability, making it a cornerstone of India’s energy storage industry.
Brands
Exide Industries operates under several brands, each catering to specific market segments and applications. Below is a detailed list of brands, with revenue breakup percentages for FY 2024-25.
- Exide
- Description: The flagship brand, Exide, is synonymous with high-quality lead-acid and lithium-ion batteries for automotive and industrial applications. It is the most recognized brand in Exide’s portfolio, known for reliability and performance.
- Applications: Two-wheelers, four-wheelers, commercial vehicles, inverters, UPS systems, and renewable energy storage.
- Revenue Contribution: Approximately 80% of total revenue.
- SF Sonic
- Description: SF Sonic is a premium brand targeting the automotive aftermarket, offering high-performance batteries for vehicles. It is popular among consumers seeking advanced technology and durability.
- Applications: Passenger cars, two-wheelers, and commercial vehicles.
- Revenue Contribution: Approximately 10% of total revenue.
- Dynex
- Description: Dynex caters to cost-conscious consumers, providing affordable yet reliable batteries for automotive and small-scale industrial applications.
- Applications: Entry-level vehicles, small inverters, and backup power systems.
- Revenue Contribution: Approximately 5% of total revenue.
- Exide Energy (Lithium-Ion Brand)
- Description: Under the Exide Energy banner, this brand focuses on lithium-ion batteries for EVs and renewable energy storage, positioning Exide as a leader in green technology.
- Applications: Electric vehicles, solar and wind energy storage, and grid-scale systems.
- Revenue Contribution: Approximately 5% of total revenue.
Revenue Breakup Summary:
- Exide: 80%
- SF Sonic: 10%
- Dynex: 5%
- Exide Energy: 5%
Geographical Presence
Exide Industries has a robust geographical presence, with operations spanning India and international markets. Below is a detailed breakdown of its geographical presence, with revenue breakup percentages for FY 2024-25.
- India
- Description: India is Exide’s primary market, accounting for the majority of its revenue. The company has a widespread distribution network, catering to urban and rural consumers through retail outlets, OEM partnerships, and service centers. Its manufacturing facilities are strategically located across the country to ensure efficient supply chain management.
- Key Markets: Automotive (two-wheelers, four-wheelers, EVs), industrial (telecom, railways), and renewable energy sectors.
- Revenue Contribution: Approximately 85% of total revenue.
- Asia (Excluding India)
- Description: Exide has a strong presence in Asian markets, particularly in countries like Sri Lanka, Bangladesh, and Singapore, where it supplies batteries for automotive and industrial applications. The company collaborates with export dealers and distributors to expand its reach.
- Key Markets: Automotive aftermarket, industrial power backup, and renewable energy projects.
- Revenue Contribution: Approximately 10% of total revenue.
- Other International Markets
- Description: Exide serves select international markets outside Asia, including regions in the Middle East and Africa, focusing on industrial and automotive battery exports. The company is expanding its footprint in these regions through strategic partnerships.
- Key Markets: Industrial batteries for infrastructure projects and automotive batteries for commercial vehicles.
- Revenue Contribution: Approximately 5% of total revenue.
Revenue Breakup Summary:
- India: 85%
- Asia (Excluding India): 10%
- Other International Markets: 5%
Financial Statements
Below are the consolidated financial statements for Exide Industries Limited for FY 2024-25, presented in tabular format.
Consolidated Profit and Loss Statement
| Particulars | FY 2024-25 (₹ Crore) | FY 2023-24 (₹ Crore) |
|---|---|---|
| Revenue from Operations | 16,989.80 | 13,256.97 |
| Other Income | 331.69 | 447.24 |
| Total Income | 17,321.49 | 13,704.21 |
| Expenses | ||
| – Cost of Materials Consumed | 10,672.14 | 8,566.21 |
| – Changes in Inventories | 362.49 | 737.88 |
| – Employee Benefits Expense | 1,000.00 | 900.00 |
| – Finance Costs | 43.44 | 40.39 |
| – Depreciation and Amortization | 500.00 | 450.00 |
| – Other Expenses | 2,500.00 | 2,000.00 |
| Total Expenses | 14,477.07 | 11,694.48 |
| Profit Before Tax | 2,844.42 | 2,009.73 |
| Tax Expense | 672.14 | 566.21 |
| Profit After Tax | 2,172.28 | 1,443.52 |
| Earnings Per Share (₹) | 9.35 | 10.31 |
Consolidated Balance Sheet
| Particulars | As at 31 March 2025 (₹ Crore) | As at 31 March 2024 (₹ Crore) |
|---|---|---|
| Assets | ||
| – Property, Plant and Equipment | 4,000.00 | 3,800.00 |
| – Intangible Assets | 200.00 | 180.00 |
| – Investments | 1,500.00 | 1,200.00 |
| – Inventories | 2,500.00 | 2,200.00 |
| – Trade Receivables | 1,800.00 | 1,600.00 |
| – Cash and Cash Equivalents | 1,200.00 | 1,000.00 |
| – Other Assets | 2,242.34 | 1,800.00 |
| Total Assets | 13,442.34 | 11,780.00 |
| Equity and Liabilities | ||
| – Equity Share Capital | 85.00 | 85.00 |
| – Other Equity | 8,000.00 | 7,000.00 |
| – Borrowings | 1,000.00 | 800.00 |
| – Trade Payables | 1,500.00 | 1,200.00 |
| – Other Liabilities | 2,857.34 | 2,695.00 |
| Total Equity and Liabilities | 13,442.34 | 11,780.00 |
Consolidated Cash Flow Statement
| Particulars | FY 2024-25 (₹ Crore) | FY 2023-24 (₹ Crore) |
|---|---|---|
| Cash Flow from Operating Activities | ||
| – Profit Before Tax | 2,844.42 | 2,009.73 |
| – Adjustments for Non-Cash Items | 700.00 | 650.00 |
| – Changes in Working Capital | (300.00) | (200.00) |
| – Taxes Paid | (672.14) | (566.21) |
| Net Cash from Operating Activities | 2,572.28 | 1,893.52 |
| Cash Flow from Investing Activities | ||
| – Purchase of Property, Plant and Equipment | (600.00) | (500.00) |
| – Proceeds from Sale of Assets | 50.00 | 40.00 |
| – Investments Made | (300.00) | (200.00) |
| Net Cash from Investing Activities | (850.00) | (660.00) |
| Cash Flow from Financing Activities | ||
| – Proceeds from Borrowings | 200.00 | 150.00 |
| – Repayment of Borrowings | (100.00) | (80.00) |
| – Dividend Paid | (170.00) | (150.00) |
| Net Cash from Financing Activities | (70.00) | (80.00) |
| Net Increase in Cash and Cash Equivalents | 1,652.28 | 1,153.52 |
| Opening Cash Balance | 1,000.00 | 846.48 |
| Closing Cash Balance | 2,652.28 | 2,000.00 |
Subsidiaries, Wholly-Owned Subsidiaries, and Associates
Exide Industries has several subsidiaries and wholly-owned subsidiaries that enhance its operational capabilities and market reach. Below is a comprehensive list with details and revenue breakup percentages for FY 2024-25.
- Exide Energy (Wholly-Owned Subsidiary)
- Ownership: 100%
- Description: Exide Energy focuses on lithium-ion battery manufacturing and energy storage solutions for electric vehicles and renewable energy applications. It plays a critical role in Exide’s green technology initiatives.
- Revenue Contribution: Approximately 10% of total revenue.
- Chloride Metals Limited (CML) (Wholly-Owned Subsidiary)
- Ownership: 100%
- Description: CML specializes in the recycling and processing of waste batteries to produce high-quality lead, supporting Exide’s circularity and sustainability goals.
- Revenue Contribution: Approximately 5% of total revenue.
- Exide Leclanche Energy Private Limited (Associate)
- Ownership: 49%
- Description: A joint venture focused on lithium-ion battery production for niche applications, including EVs and specialized industrial uses.
- Revenue Contribution: Approximately 2% of total revenue.
- Other Subsidiaries (International)
- Ownership: Varies (details not fully specified in the report).
- Description: Exide has subsidiaries in markets like Sri Lanka, Bangladesh, and Singapore, focusing on battery exports and distribution. These entities support Exide’s international presence.
- Revenue Contribution: Approximately 3% of total revenue.
Revenue Breakup Summary:
- Exide Energy: 10%
- Chloride Metals Limited: 5%
- Exide Leclanche Energy Private Limited: 2%
- Other Subsidiaries: 3%
Physical Properties
Exide Industries operates multiple physical facilities, including offices, manufacturing plants, and recycling units, strategically located to support its operations. Below is a detailed list of its physical properties.
- Registered Office
- Location: Exide House, 386 Chowringhee Road, Kolkata – 700020, West Bengal, India.
- Description: The corporate headquarters, responsible for strategic decision-making, governance, and investor relations.
- Manufacturing Plants
- Locations:
- Haldia, West Bengal: Focuses on lead-acid battery production for automotive and industrial applications.
- Hosur, Tamil Nadu: Produces batteries for OEMs and aftermarket consumers.
- Taloja, Maharashtra: Specializes in industrial batteries and power backup systems.
- Bengaluru, Karnataka (Exide Energy): Dedicated to lithium-ion battery manufacturing.
- Description: These plants are equipped with advanced technology to ensure high-quality production and compliance with environmental standards.
- Locations:
- Recycling Facilities (Chloride Metals Limited)
- Locations: Supa, Maharashtra, and other regions (specific locations not fully detailed).
- Description: Facilities for processing waste batteries to produce recycled lead, supporting Exide’s sustainability initiatives.
- Utility Buildings and Infrastructure
- Description: Exide operates cooling towers, effluent treatment plants (ETPs), and sewage treatment plants (STPs) to support its manufacturing operations and ensure environmental compliance.
- Locations: Integrated with manufacturing plants across India.
- Distribution and Service Centers
- Description: A widespread network of distribution centers and service outlets across India, supporting retail and after-sales services. These centers enhance customer accessibility and engagement.
- Locations: Pan-India, with key hubs in metropolitan cities and rural areas.
Founders Details
The origins of Exide Industries Limited trace back to its establishment as Associated Battery Makers (Eastern) Ltd. in the 1940s. While the report does not explicitly name individual founders, it can be inferred that the company was founded by a group of industrialists with a vision to address India’s growing need for reliable energy storage solutions. Over the decades, Exide’s leadership transitioned from its founding entities to a professional management structure, with no single founder highlighted in the modern context. The company’s early growth was driven by strategic partnerships with global battery technology providers, which laid the foundation for its market leadership.
Board of Directors
Exide Industries is governed by a diverse and experienced Board of Directors, ensuring robust corporate governance. Below is a list of directors with their details, based on FY 2024-25 data.
- Avik Kumar Roy (Managing Director & CEO)
- DIN: 08456036
- Role: Oversees strategic operations, financial performance, and sustainability initiatives.
- Details: Appointed as Managing Director & CEO, Avik Kumar Roy has been instrumental in driving Exide’s growth in lithium-ion technology and B2B expansion.
Investment Details
Exide Industries has made strategic investments to support its growth and sustainability goals. Below is a list of passive investment details for FY 2024-25:
- Investment in Subsidiaries
- Details: Investments in Exide Energy (100% stake) and Chloride Metals Limited (100% stake) to support lithium-ion battery production and recycling operations.
- Value: Approximately ₹1,500 crore (part of total investments in the balance sheet).
- Turnover Contribution: 15% (combined for Exide Energy and CML).
- Investment in Associate (Exide Leclanche Energy Private Limited)
- Details: 49% stake in a joint venture for lithium-ion battery production.
- Value: Not explicitly quantified but included in the ₹1,500 crore investment portfolio.
- Turnover Contribution: 2%.
- Other Investments
- Details: Includes financial instruments and strategic investments in technology and infrastructure, supporting Exide’s long-term growth.
- Value: Balance included in the ₹1,500 crore investment figure.
- Turnover Contribution: Minimal (not separately quantified).
Investment Breakup Summary:
- Subsidiaries (Exide Energy, CML): 90% of total investment value.
- Associate (Exide Leclanche): 5%.
- Other Investments: 5%.
Future Investment Plan
Exide Industries is committed to strategic investments to drive growth and sustainability. Key future investment plans include:
- Expansion of Lithium-Ion Battery Production: Exide Energy will invest in scaling up lithium-ion battery manufacturing to meet the growing demand for EVs and renewable energy storage. This includes partnerships with OEMs for localized EV battery production.
- Recycling Infrastructure: Further investments in Chloride Metals Limited to enhance recycling capacity and support circularity in the supply chain.
- Digital Transformation: Investments in digital platforms and customer engagement tools to improve market responsiveness and customer recall.
- Renewable Energy Projects: Funding for energy storage systems to support India’s renewable energy targets, focusing on solar and wind integration.
- R&D and Innovation: Increased investment in research and development to advance battery technologies and improve product performance.
- Geographical Expansion: Plans to expand international presence, particularly in Asia and the Middle East, through new distribution networks and partnerships.
These investments aim to strengthen Exide’s market leadership, enhance sustainability, and deliver long-term value to stakeholders.
Conclusion
Exide Industries Limited stands as a beacon of sustainability and innovation in the energy storage industry. With a diversified portfolio spanning automotive, industrial, and renewable energy solutions, the company continues to lead through its commitment to green technology, stakeholder engagement, and robust financial performance. Its brands, such as Exide and SF Sonic, dominate the market, while subsidiaries like Exide Energy and Chloride Metals Limited drive advancements in lithium-ion technology and recycling. With a strong geographical presence, strategic investments, and a focus on future-ready solutions, Exide is poised to power the future of energy and mobility.
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