Exide Industries Limited is engaged in designing, manufacturing, marketing and selling lead-acid storage batteries and related products in India and globally too. EXIDE, DYNEX, CHLORIDE, INDEX, SF SONIC and CEIL are the brands under which the company is offering batteries. The company is offering life insurance products for individuals, corporations, banks, etc.; manufacturing recycled lead and lead alloys; manufacturing and selling battery chargers, solar installations etc.
The company has developed a big network for supplying and marketing its products through direct and indirect dealers. The company has a market base hugely on automotive, power, telecommunication, solar, and computer industries. Along with that, railway, defence and mining are also intervened by the company. Exide Industries Limited was incorporated in 1916 with the name Associated Battery Makers (Eastern) Ltd and is headquartered in Kolkata, India.
About Company Information:
Chloride International Ltd was incorporated by the company in 1947. The second manufacturing plant of the company was established in the year 1969 at Chinchwad, Pune. Company’s name was changed to Chloride India Ltd in August of 1972. The company developed its Research & Development centre in 1976 at Kolkata.
The third manufacturing plant of the company was inaugurated in 1981 at Haldia, West Bengal. Company’s name was changed to Chloride Industries Ltd in October 1988. A technical collaboration took place between the company and Japan’s Shin Kobe Electric Machinery Co. Ltd., a subsidiary of Hitachi Group in 1994.
The name of the company was changed to Exide Industries Ltd in August of 1995. Two years later, the fourth manufacturing facility was established by the company in Hosur, Tamil Nadu in 1997. In the next year Standard Batteries Limited’s manufacturing units at Guindy (Tamilnadu) and Kanjurmarg (Maharashtra), along with Cosepa Fiscal Industries Limited’s manufacturing facility at Maharashtra’s Ahmednagar were acquired by the company. Around 51% shareholding of Caldyne Automatics Ltd was acquired by the company in 1999.
Cent per cent stake in Singapore-based Chloride Batteries S E Asia Pte Ltd and 49% stake in Sri Lanka-based Associated Battery Manufacturers Limited was acquired by the company 2000. In 2003, a plant at Haryana’s Bawal was inaugurated by the company. Acquiring an additional 12.5% equity-holding, Sri Lanka’s Associated Battery Manufacturers Limited was transformed into a subsidiary of the company in 2004.
An investment from the company was made in the 50% shareholding of ING Vysya Life Insurance Company Ltd in the year of 2005. Two years later, Exide acquired remaining 49% shareholding of Caldyne Automatics Ltd, making it a cent per cent subsidiary in 2007. In the financial year of 2009-10, Exide’s 26% shareholding in Australia-based Ceil Motive Power Pty Ltd had been divested. The company involved in an agreement to acquire 49% shareholding of Leadage Alloys India Ltd, which was around 23 lakhs equity shares of that company, in August 2010.
A technical collaboration, as well as an assistance agreement, took place between Exide Industries Limited and USA’s East Penn Manufacturing Co. Inc. in January 2012. In the year of 2013, the remaining 50% shareholding of ING Vysya Life Insurance was acquired by Exide Industries Limited, making it a cent per cent subsidiary of the company, namely Exide Life Insurance. Chloride Metals and Chloride Alloys, cent per cent owned subsidiaries of the company, engaged in old battery recycling and lead smelting were merged in the March of 2016, resulting as the formation of Chloride Metals Ltd.
During the financial year of 2016-17, an agreement regarding technological co-operation was signed between China’s Chaowei Group and Exide Industries, for designing and manufacturing of Lithium related products. Under the brand named Epiq, Exide Industries Limited declared to introduce a new standard of automotive batteries in India, with a warranty period of 6 years which is highest in the Indian battery industry. A technical collaboration with Brazil-based Moura took place in 2018. For manufacturing Ultra Battery for the automotive industry, the company went for technical collaboration with japan based company Furukawa in the same year.
How Exide Industries Ltd, is categorised as Auto ancillary Sector, and Auto ancillary - Batteries Industry :
Exide Industries Ltd is categorised under Auto ancillary sector and Auto ancillary: Batteries Industry. The auto ancillary sector includes the businesses closely linked to the Automobile Sector,(Cars, Two Wheelers, Commercial Vehicles) which will influence Auto ancillary demand. Demands will be increased from OEM ( Original Equipment Manufacturers) as well as the Replacement Market.
The swiftly globalising world is cracking up newer avenues for the transportation industry, which makes the Auto ancillary sector to be significant for the coming years. Especially transportation is about to create a shift towards electric, electronic and hybrid cars. This is considered more efficient, safe and reliable modes of transportation. Hence, over the next decade, this will lead to newer verticals and opportunities for auto-component manufacturers, especially companies that involve in manufacturing Batteries.
Exide Industries Ltd, Competitors and Sector Peers:
Exide Industries Ltd. EXIIND
Goldstar Power Ltd. GOLPOW
HBL Power Systems Ltd. HBLPOW
Standard Batteries Ltd. STABAT
Tudor India Pvt. Ltd. TUDIND