Exide Industries Limited (EIL) has declared another ₹80 crore investment in its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL), which takes the total investment in the battery making unit to ₹3,882.23 crore.
It was invested through a rights issue, whereby EESL issued 2 crore shares of 10 each of the equity with a premium of 30 per share. This transaction does not change EIL ownership of EESL which is at 100 percent.
Founded March 24, 2022, EESL is in the business of lithium-ion battery manufacturing, making cells, modules and packs to serve the Indian market in electric vehicles and stationary markets. The subsidiary is in the process of establishing green field manufacturing plant in Bengaluru.
As of 31st March 2025
EESL had paid up equity share capital of 1, 274. 21 crore and a net worth of 2,738.06 crore. The subsidiary registered revenue of 116.89 crore during the financial year though a loss after tax of 209.12 crore.
The revenue of EESL has fluctuated within the last three years, including, 112.05 crore of FY2022-23, 239.14 crore of FY2023-24, and 116.89 crore of FY2024-25.
Battery Technology Strategic Focus
The new investment is to finance the greenfield project of EESL at Bengaluru and to finance other operational requirements. The subsidiary focuses on the production of battery cells of high chemistry and form factor, such as cylindrical, pouch and prismatic cell types, battery modules and packs.
This growth is consistent with the emerging market of electric vehicles in India and the rising need for energy storage solutions. The investment highlights the consistent strategy by EIL to diversify its traditional lead-acid battery business to the next-generation battery technologies.
The company has shared this information in stock exchanges such as BSE, NSE, and the Calcutta Stock Exchange in line with the SEBI listing regulations. EIL stock is listed on the NSE under the symbol EXIDEIND and on the BSE under scrip code 500086.
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