In today’s world, reliable and efficient energy storage is more crucial than ever. From starting our vehicles to ensuring uninterrupted power supply for homes and businesses, batteries play an invisible yet an important role. Exide industries, a leading player in the Indian battery industry, stands at the forefront of this essential sector.

For over a century, Exide has been a driving force in advancements within battery technology. Their diverse product range caters to a wide spectrum of applications. From powering our daily commutes with two wheeler and four wheeler batteries to providing backup solutions through inverter and home UPS batteries, Exide ensures a steady flow of energy where it’s needed most.  

Exide industries batteries contribute significantly to critical infrastructure supporting sectors like telecom, IT and Power. By ensuring reliable power backup for these vital services, Exide contributes to a more connected and efficient nation. Come lets try to learn more about the company and discover Exide Industries, pioneering India’s battery sector with innovative energy storage solutions and global expansion.

Industry Overview Of Exide Industries

The Indian automobile industry has witnessed a remarkable turnaround after being adversely impacted by the COVID-19 pandemic in the previous two years. The year 2022-23 marked a significant milestone as the industry achieved record-high domestic sales of passenger vehicles, surpassing the previous peak in 2018-19.

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Additionally, the commercial vehicle segment recorded the second-highest domestic sales, indicating robust growth in the sector. The growth drivers for the industry have been the upbeat consumer sentiment, increased mobility, new product launches, and easing supply-side constraints, particularly in the passenger vehicle segment.

Moreover, the commercial vehicle segment has benefited from the government’s focus on infrastructure development and the overall economic recovery. While the three-wheeler segment has gained traction compared to the past two years, its sales are yet to reach pre-pandemic levels.

However, the two-wheeler segment has lagged behind other automobile segments in terms of growth, failing to keep pace with the overall industry’s momentum. The Society of Indian Automobile Manufacturers (SIAM) believes that positive policy initiatives will further aid the industry’s growth trajectory.

Company Overview Of Exide Industries

Exide industries is engaged in a business of manufacturing lead acid storage batteries and inverters. As a company they are capable of manufacturing lead acid storage batteries from 2.5 Ah to 20,200 Ah. Products which are manufactured by the company’s are industrial batteries, automobile batteries, institutional batteries, Home UPS systems and submarine batteries. 

Exide industries was incorporated on January 31, 1947 as Associated battery makers, later they changed their name as Chloride India Ltd in 1976. On August 25, 1995 the company again changed its name to Exide industries Ltd. The company is headquartered in Kolkata, West Bengal. 

The company has 10 manufacturing plants at different strategic locations like Hosur, Bawal, Ahmednagar, Haridwar and Roorkee. It is the only battery manufacturer to have 3 large lead recycling plants. Currently the company has its presence in more than 60+ countries. Eide industries got listed in Indian stock exchanges in 1979. 

Product And segment Overview Of Exide Industries

Automotive segment 

In this segment the company focuses on delivering batteries for vehicles. This includes two wheeler batteries designed for motorcycles and scooters. Three wheeler batteries for auto rickshaws. Four wheeler batteries for cars, jeeps, buses and trucks. They also provide batteries for e-rickshaws as well. 

They provide batteries under three powerful brand names which include Exide, SF batteries and Dynex battery

Industrial segment 

In this segment they offer batteries for various industrial applications which include Power, Telecom, Infrastructure projects, ITES industry ( data centers and servers), Railways, Mining operations and Defense sector. 

Inverter and Home UPS segment 

In this segment they design batteries to provide backup power during outages. This comes with two variations which include tubular inverter batteries for longer power backup needs and flat plate inverter batteries for shorter backup needs. 

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Financials Of Exide Industries

FY 2023FY 2022FY 2021FY 2020
Revenue (in crores)15,07812,78910,35914,471
Net profit (in crores)822.77694.31733.43762.48

In the FY 2023 Exide industries saw an increase in revenue, surging by 17.89% to reach 15,078 crore rupees as opposed to 12,789 crore rupees in FY 2022. In FY 2023 the net profit of the firm was also increased by 18.50% to reach 822.77 crore rupees as opposed to 694.31 crore rupees.

The increase in revenue and net profit happened because of strong industrial demand and the recovery of the automotive segment. New product launches also contributed to higher revenue and as a result the company’s sales volume increased. 

In FY 2023 ROE of the firm stood at 7.58% compared to that 48.55% in the previous year which happened because of the sale of entire shares of Exide life insurance to HDFC life and ROCE of the firm stood at 10.55% 

Future Plans Of Exide Industries

Exide industries is planning to set up a large greenfield lithium ion cell manufacturing facility in Bangalore through its subsidiary Exide Energy Solutions Ltd (EESL). Initially the plant will have a capacity to produce 6GWh by 2025 and they are planning to expand its capacity by 12GWh.

The plant is said to manufacture cylindrical cells and radial prismatic cells to cater various applications. Exide has signed a non binding MoU with Hyundai and Kia for a strategic cooperation in developing and supplying battery cells for their electric vehicles in India. 

Exide aims to offer Green Technology Solutions by providing a “ Cell to Pack” product portfolio for lithium ion batteries. They plan to provide customizable module solutions and joint product development with customers. Exide is also focused on offering competitive costing through strategic raw material sourcing partnerships and manufacturing efficiencies. 

They also want to provide solutions for emerging applications like Data centers, Battery Energy Storage Systems (BESS), Traction (MHE electrification) and solar rooftop.  

The company is increasing its focus on expanding exports and global presence, especially in developed markets like America and Europe. They plan to launch new products with advanced features for international markets along with increasing its distribution network and manpower deployment. 

Exide industries focus on achieving manufacturing excellence through practices like LEAN, waste minimization and Industry 4.0 initiatives. They are implementing digitization initiatives across processes like integrated business planning, logistics, warehouse management and sales force efficiency. 


Exide industries journey reflects a dedication to innovation and reliability. Despite facing challenges in FY 23 that led to a decline in ROE, the company’s strong fundamentals and diverse product portfolio position them well for future growth. 

Their focus on areas like electric vehicle battery technology and renewable energy storage solutions aligns with evolving market demands. Continued investment in research and development, coupled with strategic expansion into new markets, can propel Exide industries to further solidify its leadership position.

As India’s energy landscape continues to transform, Exide Industries is poised to remain a key player. What would you bid about the future of Exide, will it continue to grow? Do let me know your thoughts in the comments below. 

Written by Pavunkumar V M

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