Exide Industries Ltd announced its board’s decision to invest up to ₹14 billion in Energy Efficiency Services Ltd (EESL), reinforcing its clean energy focus. The company also reported December quarter consolidated revenue of ₹40.30 billion and net profit of ₹2.58 billion, highlighting robust operational performance.
Exide Industries Ltd, India’s leading battery manufacturer, has unveiled a major strategic move with its board approving an investment of up to ₹14 billion in Energy Efficiency Services Ltd (EESL). The decision underscores Exide’s commitment to advancing clean energy and sustainable solutions, aligning with India’s broader energy transition goals.
Key Highlights
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Strategic Investment: The ₹14 billion infusion into EESL positions Exide to play a pivotal role in energy efficiency and renewable initiatives.
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Quarterly Performance: For the December quarter, Exide reported consolidated revenue from operations at ₹40.30 billion, reflecting steady demand across automotive and industrial battery segments.
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Profitability: Net profit stood at ₹2.58 billion, supported by improved margins and operational efficiencies.
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Sectoral Context: With rising demand for electric mobility and renewable energy storage, Exide’s dual focus on strong earnings and strategic investments strengthens its long-term outlook.
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Investor Sentiment: The combination of robust quarterly results and forward-looking investment is expected to boost confidence in Exide’s growth trajectory.
This move highlights Exide Industries’ evolving role from a traditional battery maker to a key player in India’s clean energy ecosystem.
Sources: Reuters, Economic Times, Business Standard