Built with an investment of INR 250 crore, the facility has 6 fully automated assembly lines and testing labs with an installed capacity of 1.5 GWh and will cater energy storage systems for India’s electric vehicle market and grid-based applications, the company said.
Shares of Exide Industries on Monday settled 0.74 per cent lower at Rs 154.50 apiece on the BSE.
Total income grew by 4.80 per cent to Rs 2,389.57 crore during the quarter under review as against Rs 2,279.93 crore in the year-ago period, Exide Industries said in a BSE filing.
Demand in the automotive battery segment in India has "largely recovered" from the lows that the industry touched post demonetisation as the automotive industry was significantly hit by the cash-ban.
With banks and ATMs not being able to cope with the rush for access to lower denomination or new currency after old Rs 500 and 1,000 notes were banned, cash dispensing through swipe of debit cards at POS machines was introduced at around 3,700 petrol pumps.
Net sales went up by 10.64 per cent to Rs 2,174.55 crore for the quarter, as against Rs 1,965.39 crore during the same period of 2015-16, Exide Industries said in a filing to the BSE.
The market is already factoring in a positive scenario of likely passage of the bill, but uncertainty still remains. Latest media reports suggest that a high-level meeting between the government and principal Opposition Congress held ahead of the monsoon session of Parliament failed to break the standoff.
Bharat Forge, which saw its earnings improve, has slipped up to 40 per cent, followed by Tata Motors (down 23 per cent), Apollo Tyres (down 19 per cent) and Motherson Sumi (down 14 per cent)
The company’s revenue grew at 4% annualised rate in the past three fiscals. This is likely to improve considering higher penetration of organised players, improving vehicle volumes, and increasing business from solar energy segment.
Battery maker Exide Industries today reported a 37.76 per cent increase in its net profit at Rs 133.95 crore for the third quarter ended December 31.
Kinetic Safar comes equipped with an all steel body, dual head-lamps for night vision, and dash board with battery indicator and speedometer. It has maximum speed of 25 km/hr and can carry four passengers plus the driver.
| Name | DIN | Designation | Date of joining | |
|---|---|---|---|---|
| Gautam Chatterjee | 00012306 | gautamc@exide.co.in | Whole-time director | 22 Jul,1996 |
| Gautam Chatterjee | 00012306 | gautamc@exide.co.in | Whole-time director | 22 Jul,1996 |
| Rajan Beharilal Raheja | 00037480 | shefali@rraheja.com | Director | 12 Dec,1991 |
| Nawshir Hoshang Mirza | 00044816 | nhm@nawshirmirza.com | Additional director | 28 Oct,2015 |
| Subir Chakraborty | 00130864 | ArunitoG@exide.co.in | Whole-time director | 01 May,2013 |
| Asish Kumar Mukherjee | 00131626 | Whole-time director | 20 Apr,2007 | |
| Bharat Dhirajlal Shah | 00136969 | bharat.shah@hdfcbank.com | Director | 30 Apr,2015 |
| Arun Mittal | 00412767 | amittal@exide.co.in | Director | 01 May,2016 |
| Vijay Aggarwal | 00515412 | vijay@hrjohnsonindia.com | Director | 30 Oct,2000 |
| Sudhir Chand | 01385201 | sudhirchand@gmail.com | Director | 19 Oct,2012 |
| Mona Ninad Desai | 03065966 | mona.n.desai@gmail.com | Director | 28 Apr,2010 |
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