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About Exide Industries

History 

Exide Industries Ltd, headquartered in Kolkata, India, stands as a prominent Indian multinational specialising in the manufacturing of storage batteries, particularly lead-acid batteries. As the largest producer of these batteries in India, Exide also serves as a key provider of power storage solutions. The company boasts 10 state-of-the-art factories scattered across five Indian states, with eight dedicated to lead-acid batteries and two focusing on Home UPS Systems. These manufacturing facilities are strategically located in Maharashtra, West Bengal, Uttarakhand, Tamil Nadu, Haryana, and Gujarat. Expanding its global footprint, Exide operates manufacturing units in Sri Lanka, the UK, and Singapore, conducting business worldwide through subsidiaries and international affiliates. With a robust network of over 95,000 distributors, dealers, and sub-dealers, Exide exports its batteries to more than 60 countries. In response to the evolving energy storage landscape, Exide has diversified its portfolio by venturing into the production of lithium-ion battery modules and packs. This initiative, facilitated by its subsidiary Exide Energy Private Limited (branded as Nexcharge), addresses the burgeoning electric vehicle market and stationary applications in India. Moreover, the establishment of Exide Energy Solutions Limited, a wholly-owned subsidiary, signals the company's entry into multi-giga-watt hour lithium-ion cell manufacturing, with a new plant underway in Bengaluru, Karnataka. Exide's commitment to sustainable practices is evident through Chloride Metals Limited, its wholly-owned subsidiary operating three advanced lead recycling facilities in West Bengal, Maharashtra, and Karnataka. Delving into its historical roots, Exide's journey in India began with the inception of the Chloride Electrical Storage Company (CESCO) in 1920. Initially serving as an assembly and manufacturing unit, the company established its first manufacturing facility in Shyamnagar, West Bengal, in 1947. Over the years, Exide's impact extended beyond road vehicles, supplying batteries for railways and contributing to national defence efforts. The company's growth trajectory included the establishment of a second factory in Chinchwad, Maharashtra, in 1969, strategically positioned near automobile Original Equipment Manufacturers (OEMs). Exide's resilience and adaptability are evident in its constant innovations, modernisation of manufacturing processes, and commitment to service excellence. Celebrating 75 years of corporate existence in India in 2022, Exide Industries continues to be a stalwart in the energy storage industry, shaping the landscape of battery technology on a global scale.

Business Segments

Exide Industries has a wide range of battery solutions. The main business segments of Exide Industries are:
  • Automotive: Exide is the largest manufacturer of automotive batteries in India. The company's automotive batteries are used in a variety of vehicles, including cars, motorcycles, trucks, and buses.
  • Industrial: Exide's industrial batteries are used in various applications, including power generation, material handling, and telecommunications. The company offers a variety of industrial battery technologies, including lead-acid, nickel-cadmium, and lithium-ion.
  • Inverter batteries: Exide's inverter batteries are used to convert direct current (DC) power from solar panels or generators into alternating current (AC) power for use in homes and businesses. The company offers a variety of inverter batteries, including lead-acid, gel, and lithium-ion batteries.
  • Solar Solutions: Exide offers a complete range of solar solutions, including solar panels, inverters, and batteries. The company's solar solutions are used to provide power for homes, businesses, and off-grid applications.
  • Genset Batteries: Exide's Genset batteries are used to provide backup power for generators. The company offers a variety of Genset batteries, including lead-acid, gel, and inverter batteries.
  • Aftermarket sales: Exide has a strong aftermarket sales network that provides battery service and maintenance. The company also offers a variety of aftermarket products, such as chargers and accessories.

Subsidiaries of Exide Industries

As of March 31, 2023, the company has 7 subsidiaries including:
  1. Chloride Metals Limited: Exide Industries holds complete ownership of Chloride Metals Limited (CML), a subsidiary specialising in secondary smelting and refining. CML strategically contributes to Exide's backward integration, fulfilling lead and lead alloy needs through a circular economy model. Scrap batteries are collected and recycled, and the recovered lead is supplied to Exide to produce new batteries.
  1. Exide Energy Solutions Limited: Established on March 24, 2022, Exide Energy Solutions Limited (EESL) operates as a wholly-owned subsidiary in West Bengal. EESL primarily manufactures advanced battery cells, including cylindrical, pouch, and prismatic varieties. The company is also engaged in producing, assembling, and selling battery modules, packs, and related activities.
  1. Associated Battery Manufacturers Ltd: (ABML) is a subsidiary of Exide Industries Limited. ABML is engaged in the manufacturing and marketing of batteries for automotive and industrial applications.

Key Personnel

Subir Chakraborty, Managing Director and CEO Subir Chakraborty is the Managing Director and Chief Executive Officer of Exide Industries Limited, a prominent storage battery company in India. Appointed in May 2021, he succeeded Gautam Chatterjee, who retired after a remarkable 39-year tenure with the company. Chakraborty has been associated with Exide since 1996. Over the years, he has held key roles within the company, overseeing critical functions such as automotive, industrial, and submarine operations.

Management Outlook 

  • With the solar rooftop market rebounding to pre-COVID levels, there's optimism due to improved supply and resolved shipping issues, particularly in residential and small commercial rooftops.
  • A resurgence in thermal power plants creates a strong order pipeline and a growing need for Battery Energy Storage Systems (BESS), promising substantial business in the future.
  • Strong demand in infrastructure projects, fueled by government spending, with significant opportunities in metro, railways, defence, and data centres, and potential in converting technology in certain sectors.
  • The shift towards lithium batteries in material handling, especially in rentals, presents a changing market, offering Exide opportunities to adapt and meet evolving demands.
  • Significant business opportunities in 2V standby batteries in Europe, the Middle East, Africa, and South-East Asia, and continued growth in 12V batteries in West Asia and the Middle East, with Exide considered a reliable partner after recent industry consolidation in Europe.

Parent Organisation
Raheja Rajan
Managing Director
Bharat Shah
Founded
1947
NSE Symbol
EXIDEIND

Peer Comparision

StocksMarket Cap (cr)Market Price (₹)52 Week Low-High (₹)

Community Discussion

A
AngelOne
15th April 2024
Exide Industries hits 52-week high on Morgan Stanley’s raised target price! Analysts predict strong growth for Exide Industries Limited due to government support for Made in India electric vehicles. Check the complete details inside. Contrary to prevailing market sentiment, Exide Industries Limited experienced a notable surge today, with its shares climbing by 2.70% to reach an all-time high of Rs 423.80 on the BSE. Furthermore, the scrip witnessed a spurt in volume by more than 2.63 times. The company’s current market capitalization stands at Rs 34,718.25 crore. Recent Development Recently, Morgan Stanley increased the target price for the company to Rs 485 from Rs 373, highlighting various growth opportunities for Exide Industries. Analysts foresee significant growth potential in the shares of Exide Industries Limited over the next decade. This optimism stems from government support for Made in India electric vehicles, positioning Exide as a key player in battery cell localization. Morgan Stanley highlighted Exide’s strong alliances in the automobile and industrial sectors, along with its early mover advantage. A recent partnership with Hyundai and Kia further underscores Exide’s potential, leading JPMorgan to assign an ‘overweight’ rating on the stock. Furthermore, JPMorgan emphasized Exide’s ability to secure partnerships with global OEMs and ongoing discussions with multiple OEMs, indicating further growth prospects. About the Company Exide Industries Ltd focuses primarily on manufacturing storage batteries and related products in India. Business Development In terms of product distribution, Exide Industries Ltd primarily focuses on storage batteries, constituting 100% of its product portfolio. Furthermore, geographically, the company’s operations are predominantly based in India, accounting for 92% of its presence. The remaining 8% is attributed to the rest of the world. This indicates a strong concentration of Exide Industries Ltd’s activities within the domestic market, with a notable but smaller presence in international markets. Shareholding Pattern In December 2023, the promoter’s holding in the company remained steady at 45.99%, maintaining its stability. However, there was a slight increase in Foreign Institutional Investors ownership, rising from 12.81% in September 2023 to 12.94% in December 2023. This indicates a continued interest from FIIs in the company’s stock during the specified period. Furthermore, the stock has experienced significant buying activity, yielding multibagger returns of more than 120% in the last one year. Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions. Angel One Exide Industries Share Price Today - Buy/Sell Exide Stock | Angel One Exide Industries Share Price - Get Exide Battery Live BSE/NSE stock price with latest research reports, balance sheet, stock analysis and share price history at Angel One.
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Exide Industries Ltd FAQs

Exide Industries Ltd (EXIDEIND) share price as of July 15, 2024, on NSE is Rs 562.65 (NSE) and Rs 562.65 (BSE) on BSE.
Yes, You can buy Exide Industries Ltd (EXIDEIND) shares by opening a Demat account with Angel One.
Exide Industries Ltd (EXIDEIND) share can be bought through the following modes:
1. Direct investment: You can buy Exide Industries Ltd (EXIDEIND) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Exide Industries Ltd (EXIDEIND) shares.
As per the shareholding pattern report dated September 30, 2022, Exide Industries only has one promoter which is Chloride Eastern Limited.
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