Mid-cap battery stock that holds about 30 percent market share in India has invested 340 Cr into its subsidiary.
At 9:22 a.m the shares of Exide Industries were trading at Rs. 260 up by 1 percent from its previous day close price and the market capitalization of the company is 21,751 Cr.
As per the company’s filing Exide Industries Limited(EIL) has invested 340 Cr by way of subscription in the equity share capital of its wholly owned subsidiary Exide Energy Solutions Limited(EESL) on rights basis. EESL has allotted 10,96,77,420 equity shares of Rs. 10 each at a premium of Rs. 21 per share aggregating to Rs. 340 Cr on rights basis to EIL, EIL has 100 percent shareholding in EESL.
The company’s revenue has increased by 17.9 percent from 12,789.22 Cr in FY22 to 15,078.16 Cr in FY23, accompanied by increasing profits of 694.31 Cr to 822.77 Cr.
The company has reported a return on equity (ROE) of 7.58 percent and return on capital employed (ROCE) of 10.96 percent, this indicates that the company is making decent returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 45.99 percent stake, the Domestic Institutional Investors hold 19.78 percent and the Foreign Institutional Investors (FII) hold 12.86 percent.
Exide Industries is one of the leading global players in battery and charging solutions for various industries, such as automotive, motion, energy, and data centers.
Written by: Bharath K.S
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