Exide Industries Limited (EIL) has announced a further investment of ₹80 crore in its wholly-owned subsidiary Exide Energy Solutions Limited (EESL), bringing the company's total investment in the battery manufacturing unit to ₹3,882.23 crore.
The investment was made through a rights issue, with EESL allotting 2 crore equity shares of ₹10 each at a premium of ₹30 per share. EIL's shareholding in EESL remains unchanged at 100% following this transaction.
EESL was incorporated on March 24, 2022, and operates in the lithium-ion battery manufacturing sector, producing cells, modules, and packs for India's electric vehicle market and stationary applications. The subsidiary is currently establishing a greenfield manufacturing facility in Bengaluru.
As of March 31, 2025, EESL reported a paid-up equity share capital of ₹1,274.21 crore and net worth of ₹2,738.06 crore. The subsidiary recorded revenue of ₹116.89 crore for the financial year but posted a loss after tax of ₹209.12 crore.
The company's revenue has fluctuated over the past three years, with turnover of ₹112.05 crore in FY2022-23, ₹239.14 crore in FY2023-24, and ₹116.89 crore in FY2024-25.
Strategic Focus on Battery Technology
The latest investment is intended to fund EESL's greenfield project in Bengaluru and meet various operational funding requirements. The subsidiary specializes in manufacturing battery cells of advanced chemistry and form factors, including cylindrical, pouch, and prismatic designs, along with battery modules and packs.
This expansion aligns with India's growing electric vehicle market and the increasing demand for energy storage solutions. The investment represents EIL's continued commitment to diversifying beyond its traditional lead-acid battery business into next-generation battery technologies.
The company disclosed this information to stock exchanges including BSE, NSE, and Calcutta Stock Exchange in compliance with SEBI listing regulations. EIL shares are traded under the symbol EXIDEIND on NSE and scrip code 500086 on BSE.