Exide Industries Ltd Share Price – NSE  /  BSE

Auto Ancillaries, Small Cap

Exide Industries announced the cessation of Mona Desai as Independent Director of the company on completion of the second term on 21 July 2024.

Powered by Capital Market - Live News

Exide Industries has invested Rs 49.99 crore by way of subscription in the equity share capital of its wholly owned subsidiary, Exide Energy Solutions (hereinafter referred as 'EESL'), on rights basis.

With this investment, the total investment made by the Company in EESL stands to Rs. 2,502.24 crore. There is no change in the shareholding percentage of the Company in EESL pursuant to such an acquisition.

Powered by Capital Market - Live News

Exide Industries will hold a meeting of the Board of Directors of the Company on 30 July 2024.

Powered by Capital Market - Live News

Exide Energy Solutions (EESL) is engaged in the business of manufacturing & selling lithium-ion battery cells, modules and packs for India's electric vehicle market and stationary applications. Its turnover was Rs 239.14 crore as on 31 March 2024.

EESL is in the process of setting up a green field plant at Bengaluru for manufacturing & selling lithium-ion battery cells, modules and pack business. The equity investment in EESL on a rights basis is to fund the above green field project entity and meet its various funding requirements

The company has acquired 2,08,33,333 equity shares of Rs 10 each at a premium of Rs 26 on right basis.

As on date, the total investment by Exide Industries in the equity share capital of EESL including share premium stands to Rs 2,452.24 crore including investment made in erstwhile merged subsidiary Exide Energy Private.

Exide Industries is primarily engaged in the manufacturing of storage batteries and allied products in India.

The company reported 36.55% jump in net profit to Rs 283.75 crore on 13.16% rise in revenue from operations to Rs 4,009.39 crore in Q4 FY24 over Q4 FY23.

The scrip advanced 2.27% to settle at Rs 540.80 on Wednesday, 12 June 2024.

Powered by Capital Market - Live News