Exide Industries is aiming to scale its revenue to ₹20,000 crore over the next 2–3 years, up from ₹16,588 crore as of March-end, revealed Managing Director Avik Roy. As part of its strategy, the company is making significant strides in the EV battery space with a major lithium-ion cell manufacturing facility underway in Bengaluru.
The greenfield project, led by subsidiary Exide Energy Solutions, will have a total planned capacity of 12 GWh—developed in two equal phases of 6 GWh each. The first phase is expected to be operational by the end of FY26 and will help meet the surging demand from India’s electric vehicle market.
To further this agenda, Exide has signed a non-binding strategic cooperation agreement with Hyundai Motor and Kia Corporation. The company has already invested ₹3,600 crore into its subsidiary, and the board has approved an additional ₹1,200 crore for the first phase.
In addition to its lithium-ion efforts, Exide continues to invest ₹500 crore annually in its lead-acid battery operations.
Avik Roy stated, “As we enter FY26, the outlook for the lead-acid business remains positive across most business verticals. During the year, we have strengthened our businesses and go-to-market strategy, by transitioning from a SBU-led organisation to a Functional Organisation. We have also strengthened our senior leadership team by bringing in seasoned business leaders from global corporations.”
Exide posted a 3% rise in annual net profit for FY25, reaching ₹1,077 crore, despite a dip in Q4 profit, reflecting resilience and momentum in its core operations.
