Exide Industries

** Shares of Exide Industries EXID.NS rise 3.3% to 371.1 rupees

** The battery maker's fourth-quarter PAT rose 22.7% y/y to 3.12 billion rupees ($32.72 million) on firm auto demand and the continued tailwind from India's tax cuts last September

** Q4 Revenue from ops rose 9.4% Y/Y

** "We continue to like Exide given its first-mover advantage in manufacturing lithium-ion cells and strong prospects of the lead-acid business," Investec says

** Avg rating of 15 analysts is "hold" and median PT is 380 rupees - data compiled by LSEG

** YTD, stock up 1.4%

($1 = 95.3675 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

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May 4 (Reuters) - India's Exide Industries EXID.NS reported a 22.7% rise in fourth-quarter profit, as buoyant automotive demand and the continued tailwind from India's tax cuts last September boosted demand for its batteries.

Here are some details:

• The company's standalone profit after tax rose to 3.12 billion rupees ($32.8 million) in the quarter ended March 31, from 2.55 billion rupees a year earlier

  
  

• Revenue from operations climbed 9.4% to 45.51 billion rupees

  
  

• Tax cuts continued to drive demand across the automotive sector, with two-wheeler, three-wheeler and four-wheeler segments growing in double digits year-on-year in the fourth-quarter

  
  

• The firm's export business posted a double-digit decline as geopolitical conflicts closed multiple shipping routes and created container shortages

  
  

• Exide's auto business grew more than 25% year-on-year

  
  

• MD & CEO Avik Roy said the company expects auto, auto replacement and inverters businesses "to continue their strong growth momentum into Q1 of current financial year"

  
  

• Sustained depreciation of rupee would put further pressure on costs, Roy said

($1 = 95.0363 Indian rupees)

(Reporting by Pranav Kashyap in Bengaluru; Editing by Mrigank Dhaniwala)

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March 25 (Reuters) - Exide Industries Ltd EXID.NS:

• INVESTS 4.50 BILLION RUPEES IN EXIDE ENERGY SOLUTIONS

Source text: ID:nBSE12PW81

Further company coverage: EXID.NS

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Jan 30 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES LTD DEC-QUARTER NET PAT 2.58 BILLION RUPEES

• EXIDE INDUSTRIES LTD DEC-QUARTER REVENUE FROM OPERATIONS 40.30 BILLION RUPEES

• EXIDE INDUSTRIES LTD - BOARD DECIDES TO INVEST UP TO 14 BILLION RUPEES IN EESL

Further company coverage: EXID.NS

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Nov 6 (Reuters) - Exide Industries EXID.NS:

• INCOME TAX DEPARTMENT CONDUCTS SURVEY AT EXIDE OFFICES

• INCOME TAX SURVEY CONCLUDED YESTERDAY

• RESCHEDULES BOARD MEETING TO 14TH NOVEMBER 2025

Source text: ID:nBSE1GJlxb

Further company coverage: EXID.NS

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Aug 20 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES LTD - INVESTS 1 BILLION RUPEES IN EXIDE ENERGY SOLUTIONS

Source text: ID:nBSE1776g5

Further company coverage: EXID.NS

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Aug 5 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES JUNE-QUARTER CONSOL NET PROFIT 2.73 BILLION RUPEES

• EXIDE INDUSTRIES JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 46.95 BILLION RUPEES

Source text: ID:nBSE3wK5QK

Further company coverage: EXID.NS

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July 22 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES LTD - INVESTS 1 BILLION RUPEES IN SUBSIDIARY

Source text: ID:nNSE58B8KZ

Further company coverage: EXID.NS

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** Shares of Exide Industries EXID.NS fall as much as 4.4% to 353.8 rupees, set for sharpest decline since January 27
** The battery maker's fourth-quarter PAT fell 10.3% y/y to 2.55 bln rupees ($30.1 mln) due to higher raw material prices, sluggish two-wheeler sales

** Revenue from ops rose 3.7%, compared to a rise of 13.1% year ago
** Nearly 5.2 mln shares traded, ~2x its 30-day moving avg

** Avg rating of 17 analysts is "hold" and median PT is 428 rupees, ~20% higher than current price - data compiled by LSEG

** EXID extends YTD losses to ~14%

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

April 17 (Reuters) - Exide Industries Ltd EXID.NS:

• INVESTS 3 BILLION RUPEES IN UNIT EXIDE ENERGY SOLUTIONS

Source text: ID:nBSE14glcL

Further company coverage: EXID.NS

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Jan 28 (Reuters) - Indian battery maker Exide Industries EXID.NS reported third-quarter profit below analysts' estimates on Tuesday, hurt by sluggish vehicle sales.

The company's standalone profit after tax rose 2% to 2.45 billion rupees ($28.3 million) in the October-December quarter, falling short of analysts' estimate of 3.09 billion rupees, according to data compiled by LSEG.

Exide, which is one of India's biggest battery makers and gets nearly 70% of its sales from automotive clients, has now missed profit estimates for a third straight quarter.

While battery replacements on automobiles remained strong, demand from manufacturers of new vehicles was muted in the quarter, the company said.

Several auto parts makers, including battery manufacturers like Exide, have relied on customers replacing older vehicle parts with newer ones to offset the impact of slowing new car sales.

Car sales rose 4.5% in the December quarter, helped partly by festive demand, albeit at a slower rate than the 8.3% growth seen in the year-earlier period.

Exide's revenues grew a mere 0.2% to 38.49 billion rupees and fell short of analysts' average estimate of 44.39 billion rupees.

Separately, Chief Executive Avik Roy said in a statement that Exide's lithium-ion cell manufacturing project in Bengaluru is expected to start commercial operations from fiscal year 2026.

Exide's shares closed 1.3% lower ahead of results.

($1 = 86.5350 Indian rupees)

(Reporting by Nandan Mandayam and Hritam Mukherjee in Bengaluru; Editing by Subhranshu Sahu)

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Jan 17 (Reuters) - Exide Industries Ltd EXID.NS:

• RECEIVES TAX DEMAND ORDER FOR PENALTY OF 1.5 MILLION RUPEES

Source text: ID:nBSE4H8J8Z

Further company coverage: EXID.NS

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Jan 15 (Reuters) - Exide Industries Ltd EXID.NS:

• INVESTS 1.5 BILLION RUPEES IN SUBSIDIARY

• TOTAL INVESTMENT IN EXIDE ENERGY SOLUTIONS NOW 33.02 BILLION RUPEES

Source text: ID:nBSE6WM5Td

Further company coverage: EXID.NS

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** Shares of Exide Industries EXID.NS rise 3% to 453 rupees

** The battery maker signs a binding term sheet with Hyundai Motor India HYUN.NS for the production and supply of battery cells for Hyundai Motor India's electric vehicles

** Stock is set to snap a three-day losing streak but heads for a second straight weekly loss

** Average rating of all analysts covering EXID is "hold" and median PT is 470 rupees, ~4% higher than current price - LSEG data

** EXID extends YTD gains to 40%

(Reporting by Yagnoseni Das in Bengaluru)

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Dec 19 (Reuters) - Hyundai Motor Co 005380.KS:

• HYUNDAI MOTOR INDIA - SIGNED BINDING TERM SHEET WITH EXIDE ENERGY SOLUTIONS

• HYUNDAI MOTOR INDIA LTD - AGREEMENTS FOR SUPPLY OF BATTERY CELLS FOR COS EVS IN INDIA

Source text: ID:nBSE5FBnZs

Further company coverage: 005380.KS

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Dec 17 (Reuters) - India's GreenLine Mobility Solutions, a part of the retail-to-mining Essar Group, said on Tuesday it will supply battery manufacturing firm Exide Industries EXID.NS with liquefied natural gas (LNG) trucks.

The partnership will help Exide reduce logistics-related emissions and align its supply chain with sustainability goals.

(Reporting by Yagnoseni Das in Bengaluru; Editing by Mrigank Dhaniwala)

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** Shares of Exide Industries EXID.NS rise as much as 3.7% to 441.4 rupees, last up 3.5%

** Battery maker invests 1 bln rupees ($11.8 mln) in unit Exide Energy Solutions, which makes lithium-ion battery cells for electric vehicles

** The investment, on a rights basis, will be used to fund a greenfield plant in Bengaluru city

** Avg rating of 17 analysts covering the stock is "hold" and median PT is 470 rupees, ~6.8% higher than current price - LSEG data

** EXID extends YTD gains to 38.7%

($1 = 84.4730 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

Nov 4 (Reuters) - Indian battery maker Exide Industries EXID.NS reported a smaller-than-expected second-quarter profit on Monday, as muted demand from carmakers offset steady replacement demand, sending its shares to a five-month low.

Standalone profit after tax for the July-September quarter rose 3.8% to 2.98 billion rupees ($35.43 million), falling short of analysts' estimate of 3.09 billion rupees, according to data compiled by LSEG.

Exide's shares dropped as much as 4.6% to 437.80 rupees after the results were announced, hitting their lowest since June 4.

Exide is one of India's biggest battery makers and gets nearly 70% of its sales from automotive clients.

But sales of cars to dealers fell for the first time in more than two years in the September quarter, as manufacturers moderated dispatches to help reduce high levels of unsold cars.

"Excess channel inventories... dampened demand" from automotive clients, the company said in a statement.

That led to a revenue miss, with Exide's quarterly revenue of 42.67 billion rupees, falling short of analysts' estimate of 44.39 billion rupees.

However, replacement demand - where customers replace older vehicle parts with newer ones - was "robust", the company said.

Rival Amara Raja AMAR.NS will report its second-quarter earnings later in the day.

($1 = 84.1050 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Rashmi Aich)

(([email protected]; Mobile: +91 9591011727;))

** Shares of Exide Industries EXID.NS rise as much as 3.8% to 531.5 rupees, their highest levels since July 31

** The battery and power storage systems maker invested over 1 bln rupees (~$12 mln) in unit Exide Energy Solutions

** Unit engaged in making lithium-ion battery cells, modules and packs for electric vehicles and stationary applications

** More than 6.2 mln shares change hands, 1.6x its 30-day avg

** Sixteen analysts covering the stock on avg have a "hold" rating; median PT is 502 rupees - LSEG data

** Stock up 67% so far this year

($1 = 83.9850 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of Exide Industries EXID.NS drop about 3.5% to 455 rupees apiece

** Company that manufactures batteries and power storage systems for original equipment manufacturer will see an earnings moderation in fiscal years 2025 and 2026 due to sluggishness in volume growth in auto industry, says Citi

** Citi maintains "buy" on EXID, but cuts target price to 560 rupees from 610 rupees earlier

** Auto revenue constitutes 69% of EXID's overall revenue

** Brokerage trims earnings estimates by 12% for fiscal year 2025 and 9% each for FY 2026 and 2027

** Mean recommendation of 17 analysts tracking EXID is "hold", median target price is 502 rupees - LSEG data

** EXID shares up 43.3% in 2024 so far, outperforming the small-cap 100 index .NIFSMCP100, of which it is a constituent

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Adds details in paragraphs 3, 13, shares in 4, context on Reliance in 16

By Aditi Shah

NEW DELHI, Sept 6 (Reuters) - India's Reliance Infrastructure RLIN.NS is considering plans to manufacture electric cars and batteries, and has hired a former India executive at China's BYD Co 002594.SZ to advise on its plans, two sources briefed on the matter told Reuters.

The company, part of Anil Ambani's Reliance Group, has hired external consultants to conduct a "cost feasibility" study for setting up an EV plant with an initial capacity of about 250,000 vehicles a year, to be scaled up to 750,000 over some years, the first source said.

It is also looking at the feasibility of building a battery plant starting with 10 gigawatt hours (GWh) of capacity and scaling up to 75 GWh over a decade, the person added.

Reliance Infrastructure did not respond to a request for comment on its plans, which are being reported for the first time. Shares of the company, which were down 0.2% before the Reuters report, closed nearly 2% higher after it was published.

Former BYD executive Sanjay Gopalakrishnan, who has joined as a consultant to advise on the EV project, did not respond to a request for comment.

Anil Ambani is the younger brother of Mukesh Ambani, Asia's richest man and head of Reliance Industries RELI.NS, which has interests ranging from oil and gas to telecoms and retail. The brothers split the family business in 2005.

Mukesh's company is already working to locally manufacture batteries and this week won a bid to receive government incentives for 10 GWh of battery cell production.

If Anil's group decides to press ahead with its plans, the brothers will go head-on in a market where EVs have a niche presence but are growing fast.

Electric models made up less than 2% of the 4.2 million cars sold in India last year, but the government wants to grow this to 30% by 2030. It has budgeted over $5 billion in incentives for companies locally manufacturing EVs and their components, including batteries.

Battery making is yet to take off in India but some local manufacturers like Exide EXID.NS and Amara Raja AMAR.NS have tied-up with Chinese players for technology to manufacture lithium-ion battery cells in the country.

Reliance Infrastructure is also looking for partners, including Chinese companies, and is aiming to finalise its plans within a few months, the first source said.

India's Tata Motors TAMO.NS is the country's largest EV player with a nearly 70% share of the market, with rivals like SAIC's 600104.SS MG Motor and BYD gaining pace. Overall auto market leaders Maruti Suzuki MRTI.NS and Hyundai Motor 005380.KS plan to launch EVs in 2025.

Gopalakrishnan retired from BYD this year after spending more than two years there, heading and setting up BYD's electric passenger vehicle business in India, launching three EVs, and establishing a dealership network.

Government records reviewed by Reuters show Reliance Infrastructure in June formed two new wholly-owned subsidiaries related to autos.

One is named Reliance EV Private Ltd, whose "main objective" is to "manufacture, deal, in vehicles of every description and components for transport and conveyance using any nature of fuel".

Reliance Infrastructure has in recent years struggled with high debt levels and cash flow issues. It is not clear how the EV project will be funded.

(Reporting by Aditi Shah
Editing by Mark Potter)

(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))

Aug 20 (Reuters) - Exide Industries Ltd EXID.NS:

• FURTHER INVESTMENT IN WHOLLY OWNED SUBSIDIARY THROUGH RIGHTS ISSUE

• INVESTED 750 MILLION RUPEES IN EXIDE ENERGY SOLUTIONS

Source text for Eikon: ID:nBSE5lJX2Y

Further company coverage: EXID.NS

(Reporting by VijayDattaram Malkar)

(([email protected];))

** Shares of Exide Industries EXID.NS drop ~3% to 536.70 rupees

** Battery maker's Q1 profit after tax missed estimates as rising raw material prices ate into profit

** Trading volume 1.1x the 30-day moving average

** Avg rating on EXID at "buy", while rival Amara Raja AMAR.NS rated "hold" - LSEG data

** EXID gains 71% YTD while AMAR more than doubles in value

(Reporting by Kashish Tandon in Bengaluru)

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July 16 (Reuters) - Exide Industries Ltd EXID.NS:

• INVESTED ABOUT 750 MILLION RUPEES IN EXIDE ENERGY SOLUTIONS ON RIGHTS BASIS

Further company coverage: EXID.NS

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BENGALURU, June 24 (Reuters) - Indian battery maker Amara Raja Energy and Mobility AMAR.NS said on Monday it signed a licensing agreement with Gotion-InoBat-Batteries (GIB), a unit of China-based Gotion High Tech Co 002074.SZ, to produce lithium-ion batteries in India.

GIB EnergyX Slovakia, a joint venture between Gotion and Slovakia-based InoBat, will license Gotion's lithium iron phosphate technology for lithium-ion cells to a unit of Amara Raja, the Indian battery maker added.

Under the licensing agreement, the Indian company will get access to cell technology IP, support for establishing Gigafactory facilities, and be integrated into Gotion's global supply chain network.

Gotion, whose largest shareholder is the German automaker Volkswagen VOWG_p.DE , specializes in lithium-ion rechargeable batteries for new energy vehicles.

Indian automakers mostly import EV batteries from China and South Korea and, along with domestic battery suppliers, have been investing in developing lithium-ion battery production capabilities within the country.

Amara Raja’s rival Exide Energy Solutions EXID.NS partnered with SVOLT in 2022 to build its own lithium-ion battery plant, which is expected to begin operations later this year.

In April, the South Korean auto duo, Hyundai Motor Co 005380.KS and Kia Corp 000270.KS signed a memorandum of understanding with Exide Energy Solutions to supply batteries for their electric vehicles, to boost competitiveness in the Indian auto market.

Earlier this year, Reliance Industries RELI.NS, JSW Neo Energy and Amara Raja Advanced Cell Technologies were among seven companies that submitted bids to set up battery manufacturing gigafactories in India.

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Tasim Zahid)

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June 12 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES - INVESTED ABOUT 750 MILLION RUPEES VIA SUBSCRIPTION IN SHARE CAPITAL OF UNIT

• EXIDE INDUSTRIES - INVESTED VIA SUBSCRIPTION IN SHARE CAPITAL OF EXIDE ENERGY SOLUTIONS ON RIGHTS BASIS

Source text for Eikon: [ID:]

Further company coverage: EXID.NS

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By Foo Yun Chee

BRUSSELS, May 29 (Reuters) - A group of car starter battery makers will contest European Union accusations of operating a cartel to fix battery prices at a closed hearing next week, people with direct knowledge of the matter said on Wednesday.

The companies are Banner, Clarios, Exide, FIAMM Energy Technology (FET) and its predecessor Elettra, and Rombat

Together with trade body Eurobat and its service provider Kellen, which were also charged by the European Commission, the companies will present their arguments at a week-long hearing in Brussels, they said.

Companies usually plead their case at such events before senior Commission officials and their peers from national competition agencies, rivals and customers. That could lead to regulators narrowing their charges, although this is rare.

The EU executive, which also acts as the EU competition watchdog, accused the group last year of colluding to increase the prices of automotive starter batteries sold to car producers in Europe.

It said this took place between 2004 and 2017, during which the seven participants created, published and agreed to use new indexes in their price negotiations with carmakers in the so-called Eurobat Premium system.

The Commission, Banner and FET declined to comment. Clarios, Exide, Rombat, Eurobat and Kellen did not immediately respond to requests for comment.

The companies, which make 12-volt lead batteries used to start most combustion engine cars, risk fines as much as 10% of their global turnover if found guilty of breaching EU antitrust rules.

(Reporting by Foo Yun Chee; Editing by Mark Potter)

(([email protected]; +32 2 585 2866; Reuters Messaging: [email protected]))

BENGALURU, May 28 (Reuters) - Indian battery maker Amara Raja Energy & Mobility AMAR.NS posted a rise in quarterly profit on Tuesday, helped by strong demand for its batteries from the automobile companies.

The company's standalone net profit rose nearly 62% to 2.28 billion rupees ($27.4 million) in the three months to March 31, still shy of analysts' average estimate of 2.33 billion rupees, according to LSEG data.

The automobile industry's requirement for batteries rose in the quarter as vehicle production increased more than 21% year-on-year, according to data from industry body Society of Indian Automobile Manufacturers (SIAM).

Amara Raja has top automakers, including Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS, and Hero MotoCorp HROM.NS, as its clients.

Revenue grew nearly 15% to 27.97 billion rupees, boosted by a 19% rise in the company's lead-acid batteries and allied products segment, which accounts for nearly all its revenue.

The segment also includes its industrial business, which benefitted from the expansion of India's 5G network, as Amara Raja also supplies batteries to telecom equipment manufacturers.

The company's expenses rose nearly 14%, led by increased inventory purchases. Raw material costs, including lead, a key input for battery makers, rose 2%.

Rival battery maker Exide Industries beat its fourth-quarter profit estimates last month.

($1 = 83.1768 Indian rupees)

(Reporting by Varun Hebbalalu in Bengaluru; Editing by Ravi Prakash Kumar)

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May 14 (Reuters) - Exide Industries Ltd EXID.NS:

• INVESTED 750 MILLION RUPEES VIA SUBSCRIPTION IN SHARES OF EXIDE ENERGY SOLUTIONS

Source text for Eikon: ID:nBSE4gyGTf

Further company coverage: EXID.NS

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