Exide Industries Boosts EV Battery Investment

Exide Industries Limited (EIL), India’s leading conventional battery maker, has infused ₹450 crore into its electric vehicle battery subsidiary, Exide Energy Solutions Limited (EESL). This brings EIL’s cumulative investment in the EV venture to over ₹4,802 crore. The funding was made via rights issue of equity shares, ensuring EIL retains full ownership of EESL.

Purpose of the Capital Infusion

The fresh capital is directed toward supporting EESL’s operational expansion and funding its new greenfield manufacturing facility near Bengaluru. The rights issue involved subscription to 11.25 crore equity shares of ₹10 each at a premium of ₹30 per share, amounting to a total investment of ₹450 crore in cash. This step underscores Exide’s commitment to strengthening domestic lithium-ion battery manufacturing and advancing India’s electric mobility ecosystem.

EESL’s Strategic Role in India’s EV Market

Incorporated in March 2022, EESL focuses on manufacturing lithium-ion battery cells, modules, and packs for EVs and stationary energy storage systems. The company produces cylindrical, pouch, and prismatic cells to cater to diverse EV applications. With this funding, EESL aims to accelerate its production capabilities while establishing itself as a key player in India’s emerging EV battery market. The investment also aligns with EIL’s long-term vision of creating scalable, technologically advanced energy solutions.

Financial Overview of EESL

• Paid-up share capital: ₹1,504.21 crore
• Net worth (FY 2024–25): ₹2,738.06 crore
• Revenue (FY 2024–25): ₹116.89 crore
• Revenue (FY 2023–24): ₹239.14 crore
• Revenue (FY 2022–23): ₹112.05 crore
• Loss after tax (FY 2024–25): ₹209.12 crore
• Total cumulative investment by EIL: ₹4,802.23 crore

Despite reporting a net loss of ₹209.12 crore in FY 2024–25 and a revenue dip compared to the previous year, EIL continues to fund the subsidiary aggressively, reflecting confidence in EESL’s growth potential and India’s EV sector trajectory.

Driving India’s EV Battery Growth

The new capital infusion strengthens EESL’s ability to scale operations, increase production efficiency, and meet rising demand for lithium-ion batteries. Exide Industries’ commitment also reinforces India’s push for energy storage solutions and sustainable electric mobility. The Bengaluru facility is expected to become a cornerstone of domestic EV battery manufacturing, providing technological and production capacity to support the growing EV ecosystem.

Through sustained investment and strategic expansion, EIL is positioning EESL to become a leading player in India’s EV battery market while supporting the nation’s transition toward cleaner transportation and energy storage solutions.