Exide Industries Limited

Sector: Batteries (Lead-Acid, Lithium-ion)  |  HQ: Kolkata, West Bengal  |  Founded: 1947  |  Employees: ~5,500

Listed as: NSE / BSE listed  |  NSE / BSE  |  Ticker: EXIDEIND.NS  |  Website →

Key people

• Bharat Anand (Chairman)
• Subir Chakraborty (CEO and MD)

Company overview

Exide Industries Limited is India's largest lead-acid storage battery manufacturer, founded in 1947 and headquartered in Kolkata. The company operates 9 manufacturing facilities across India with capacity across automotive batteries (Exide brand for cars, two-wheelers, commercial vehicles), industrial batteries (UPS, telecom, solar inverter), and the emerging Exide Energy Solutions Limited subsidiary for lithium-ion battery cell manufacturing under the PLI ACC scheme. FY25 consolidated revenue was approximately ₹16,500 crore.

Business model

Lead-acid batteries dominate revenue. Automotive replacement batteries are the largest sub-segment with strong brand strength. Industrial batteries serve UPS, telecom, and solar inverter markets. The Exide Energy Solutions lithium-ion cell plant at Bengaluru is the largest single capex bet for the company's next decade.

Operating segments

Recent developments

May 2025 – May 2026

Exide Industries is aggressively scaling its lithium-ion and EV battery manufacturing capabilities through its subsidiary Exide Energy Solutions Limited (EESL). The total investment in EESL has crossed ₹4,800 crore, with the company infusing ₹450 crore in March 2026 and an additional ₹80 crore in September 2025 to boost domestic lithium-ion production [4,6,7]. This buildout was reinforced by a ₹180 crore investment from the parent company coinciding with EESL appointing Pravin Saraf as its new MD & CEO [2,9]. Institutional confidence in Exide remains strong, with LIC raising its stake to 5.023% via open market transactions [5].

On the product front, Exide launched its AGMi AGM battery range targeting premium and technology-heavy passenger vehicles [10]. The company also secured a legal victory when the Calcutta High Court upheld its trade dress injunction against competitor Amaron, protecting Exide's market positioning [8]. These developments collectively reflect Exide's multi-pronged strategy: expanding manufacturing capacity for the EV transition, maintaining brand integrity, and attracting long-term institutional support.

Sources (8)

1. Exide Energy Solutions Appoints New CEO as Parent Company Invests Rs 180 Crore - Autocar Professional · Autocar Professional · Tue, 23 Dec 2025
2. Exide Industries pumps ₹450 crore into EV battery arm, total investment crosses ₹4,800 crore - CNBC TV18 · CNBC TV18 · Wed, 25 Mar 2026
3. LIC Raises Stake in Exide Industries to 5.023% via Open Market - HDFC Sky · HDFC Sky · Fri, 21 Nov 2025
4. Exide Industries Invests Additional ₹80 Crore in EESL - Entrepreneur India · Entrepreneur India · Fri, 26 Sep 2025
5. Exide Industries Infuses ₹450 Crore Into EESL To Boost Lithium-Ion Battery Manufacturing In India - SolarQuarter · SolarQuarter · Thu, 26 Mar 2026
6. Seeing Red: Calcutta High Court Upholds Exide’s Trade Dress Injunction Against Amaron - BananaIP Counsels · BananaIP Counsels · Tue, 14 Apr 2026
7. Pravin Saraf appointed as MD & CEO of EESL - Indian Chemical News · Indian Chemical News · Sun, 04 Jan 2026
8. Exide Launches AGMi AGM Battery Range for Premium and Tech-Heavy Passenger Vehicles - Machine Maker · Machine Maker · Tue, 03 Feb 2026

Financial performance and recent trajectory

Exide FY25 revenue ₹16,500 crore with EBITDA margin in 11-13 percent range. Capex for Exide Energy Solutions Limited is the largest project in the company's history.

Stock performance and shareholder context

Exide (NSE: EXIDEIND, BSE: 500086). Promoter group holds approximately 46 percent.

12-month price trajectory

Monthly closes over the last 12 months. Source: Yahoo Finance.

Competitive position

Dominant in Indian lead-acid batteries ahead of Amara Raja Energy and Mobility (formerly Amara Raja Batteries), Luminous, Okaya. In lithium-ion, competing with Tata Chemicals (Agratas), Reliance New Energy, Ola Cell Technologies, Amara Raja Energy.

Key risks

EV transition cannibalises lead-acid OEM volumes; lithium-ion capex execution risk; lead commodity price volatility.

Outlook

Lead-acid replacement business is durable. Lithium-ion cell plant ramp through FY27-28 is the principal investor catalyst.

KAMRIT point of view

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Disclaimer: This profile is compiled by KAMRIT Financial Services LLP for educational and benchmarking purposes only. It is not investment advice, a recommendation to buy or sell securities, or a solicitation. Stock data is provided by Yahoo Finance and may be delayed by up to 20 minutes. Company financial commentary draws on publicly available filings, exchange disclosures, and KAMRIT industry research. Readers should consult a SEBI-registered investment adviser before making investment decisions. KAMRIT is a financial services and compliance firm, not a SEBI-registered investment adviser.