Exide Industries invested nearly ₹1,000 crore in Exide Energy Solutions in FY25

Storage battery major Exide Industries invested nearly ₹1,000 crore in the last financial year into its wholly owned subsidiary Exide Energy Solutions (EESL), which is setting up a multi giga watt hour (GWh) greenfield lithium-ion cell manufacturing facility in Bengaluru.

Exide has invested a total of ₹3,602 crore in EESL as of April 2025 to support the development of the setting up the 12 GWh lithium-ion cell manufacturing facility in two phases.

“Construction and project work are at an advanced stage and commercial production for phase I is expected to start during FY2025-26,” Exide Industries said in its annual report for FY25, released on Wednesday.

“Our offerings cover the full value chain — from cell to system — aligned with our vision of molecule to megawatt,” it said.

EESL was incorporated in 2022 as a wholly-owned subsidiary of Exide, with an objective to manufacture advanced chemistry battery cells for India’s Electric Vehicle (EV) market and grid-based applications. Currently, it is producing battery modules and packs for EVs, telecom and energy storage from its facility located at Gujarat’s Prantij.

“At Exide, we continue to maintain our zero debt-to-equity ratio and have strong return ratios and cash flow generation. Exide Industries achieved revenue of ₹16,588 crore and EBITDA of ₹1,893 crore in FY2024-25. Profit after tax reached ₹1,077 crore compared to ₹1,053 crore in the previous year. This stability, despite a challenging environment, is a strong reflection of our prudent business model,” said Managing Director and CEO Avik Roy.

“Our focus on operational efficiencies, strategic procurement practices and effective cost management initiatives, enables us to deliver stable and sustained results even in a dynamic economic environment. On an operation level, while the mobility replacement demand was healthy, OEM demand, especially the passenger vehicle demand was subdued during the year,” Roy said, adding solar and industrial UPS trade witnessed steady growth in demand, but Home-UPS market remained soft.

However, in the international business, the company’s mobility division continued to perform well, but demand for industrial batteries were impacted by the ongoing slowdown across key European (EU) markets.

Published on July 2, 2025