EXIDEIND

Aug 20 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES LTD - INVESTS 1 BILLION RUPEES IN EXIDE ENERGY SOLUTIONS

Source text: ID:nBSE1776g5

Further company coverage: EXID.NS

(([email protected];))

Aug 5 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES JUNE-QUARTER CONSOL NET PROFIT 2.73 BILLION RUPEES

• EXIDE INDUSTRIES JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 46.95 BILLION RUPEES

Source text: ID:nBSE3wK5QK

Further company coverage: EXID.NS

(([email protected];))

July 22 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES LTD - INVESTS 1 BILLION RUPEES IN SUBSIDIARY

Source text: ID:nNSE58B8KZ

Further company coverage: EXID.NS

(([email protected];;))

April 30 (Reuters) - Exide Industries Ltd EXID.NS:

• Q4 PAT 2.55 BILLION RUPEES; IBES EST. 2.8 BILLION RUPEES

• Q4 REVENUE FROM OPERATIONS 41.59 BILLION RUPEES; IBES EST. 41.84 BILLION RUPEES

• DIVIDEND OF 2 RUPEES PER SHARE

• APPOINTED SRIDHAR GORTHI AS CHAIRMAN

• APPOINTMENT OF MANOJ KUMAR AGARWAL AS CFO

• TO FURTHER INVEST UP TO 12 BILLION RUPEES IN EXIDE ENERGY SOLUTIONS

Source text: [ID:]

Further company coverage: EXID.NS

(([email protected];;))

April 17 (Reuters) - Exide Industries Ltd EXID.NS:

• INVESTS 3 BILLION RUPEES IN UNIT EXIDE ENERGY SOLUTIONS

Source text: ID:nBSE14glcL

Further company coverage: EXID.NS

(([email protected];;))

Jan 28 (Reuters) - Indian battery maker Exide Industries EXID.NS reported third-quarter profit below analysts' estimates on Tuesday, hurt by sluggish vehicle sales.

The company's standalone profit after tax rose 2% to 2.45 billion rupees ($28.3 million) in the October-December quarter, falling short of analysts' estimate of 3.09 billion rupees, according to data compiled by LSEG.

Exide, which is one of India's biggest battery makers and gets nearly 70% of its sales from automotive clients, has now missed profit estimates for a third straight quarter.

While battery replacements on automobiles remained strong, demand from manufacturers of new vehicles was muted in the quarter, the company said.

Several auto parts makers, including battery manufacturers like Exide, have relied on customers replacing older vehicle parts with newer ones to offset the impact of slowing new car sales.

Car sales rose 4.5% in the December quarter, helped partly by festive demand, albeit at a slower rate than the 8.3% growth seen in the year-earlier period.

Exide's revenues grew a mere 0.2% to 38.49 billion rupees and fell short of analysts' average estimate of 44.39 billion rupees.

Separately, Chief Executive Avik Roy said in a statement that Exide's lithium-ion cell manufacturing project in Bengaluru is expected to start commercial operations from fiscal year 2026.

Exide's shares closed 1.3% lower ahead of results.

($1 = 86.5350 Indian rupees)

(Reporting by Nandan Mandayam and Hritam Mukherjee in Bengaluru; Editing by Subhranshu Sahu)

(([email protected]; Mobile: +91 9591011727;))

Jan 17 (Reuters) - Exide Industries Ltd EXID.NS:

• RECEIVES TAX DEMAND ORDER FOR PENALTY OF 1.5 MILLION RUPEES

Source text: ID:nBSE4H8J8Z

Further company coverage: EXID.NS

(([email protected];;))

Jan 15 (Reuters) - Exide Industries Ltd EXID.NS:

• INVESTS 1.5 BILLION RUPEES IN SUBSIDIARY

• TOTAL INVESTMENT IN EXIDE ENERGY SOLUTIONS NOW 33.02 BILLION RUPEES

Source text: ID:nBSE6WM5Td

Further company coverage: EXID.NS

(([email protected];;))

Dec 19 (Reuters) - Hyundai Motor Co 005380.KS:

• HYUNDAI MOTOR INDIA - SIGNED BINDING TERM SHEET WITH EXIDE ENERGY SOLUTIONS

• HYUNDAI MOTOR INDIA LTD - AGREEMENTS FOR SUPPLY OF BATTERY CELLS FOR COS EVS IN INDIA

Source text: ID:nBSE5FBnZs

Further company coverage: 005380.KS

(([email protected];))

Dec 17 (Reuters) - India's GreenLine Mobility Solutions, a part of the retail-to-mining Essar Group, said on Tuesday it will supply battery manufacturing firm Exide Industries EXID.NS with liquefied natural gas (LNG) trucks.

The partnership will help Exide reduce logistics-related emissions and align its supply chain with sustainability goals.

(Reporting by Yagnoseni Das in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected];))

Nov 4 (Reuters) - Indian battery maker Exide Industries EXID.NS reported a smaller-than-expected second-quarter profit on Monday, as muted demand from carmakers offset steady replacement demand, sending its shares to a five-month low.

Standalone profit after tax for the July-September quarter rose 3.8% to 2.98 billion rupees ($35.43 million), falling short of analysts' estimate of 3.09 billion rupees, according to data compiled by LSEG.

Exide's shares dropped as much as 4.6% to 437.80 rupees after the results were announced, hitting their lowest since June 4.

Exide is one of India's biggest battery makers and gets nearly 70% of its sales from automotive clients.

But sales of cars to dealers fell for the first time in more than two years in the September quarter, as manufacturers moderated dispatches to help reduce high levels of unsold cars.

"Excess channel inventories... dampened demand" from automotive clients, the company said in a statement.

That led to a revenue miss, with Exide's quarterly revenue of 42.67 billion rupees, falling short of analysts' estimate of 44.39 billion rupees.

However, replacement demand - where customers replace older vehicle parts with newer ones - was "robust", the company said.

Rival Amara Raja AMAR.NS will report its second-quarter earnings later in the day.

($1 = 84.1050 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Rashmi Aich)

(([email protected]; Mobile: +91 9591011727;))

Sept 6 (Reuters) - Yunnan Energy New Material Co Ltd 002812.SZ:

• SAYS UNIT BECOMES LITHIUM BATTERY ISOLATION FILM PRODUCT SUPPLIER FOR INDIA'S EXIDE ENERGY SOLUTIONS LIMITED

• SAYS IT EXPECTS TRANSACTION AMOUNT TO BE UP TO 200 MILLION YUAN IN 2025

Source text

Further company coverage: 002812.SZ

(Reporting by Beijing Newsroom)

(([email protected];))

Aug 20 (Reuters) - Exide Industries Ltd EXID.NS:

• FURTHER INVESTMENT IN WHOLLY OWNED SUBSIDIARY THROUGH RIGHTS ISSUE

• INVESTED 750 MILLION RUPEES IN EXIDE ENERGY SOLUTIONS

Source text for Eikon: ID:nBSE5lJX2Y

Further company coverage: EXID.NS

(Reporting by VijayDattaram Malkar)

(([email protected];))

July 30 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES Q1 NET PAT 2.80 BILLION RUPEES; IBES PROFIT EST. 3.31 BILLION RUPEES

• EXIDE INDUSTRIES Q1 REVENUE FROM OPERATIONS 43.13 BILLION RUPEES; IBES EST. 44.6 BILLION RUPEES

Further company coverage: EXID.NS

(([email protected];))

July 16 (Reuters) - Exide Industries Ltd EXID.NS:

• INVESTED ABOUT 750 MILLION RUPEES IN EXIDE ENERGY SOLUTIONS ON RIGHTS BASIS

Further company coverage: EXID.NS

(([email protected];;))

BENGALURU, June 24 (Reuters) - Indian battery maker Amara Raja Energy and Mobility AMAR.NS said on Monday it signed a licensing agreement with Gotion-InoBat-Batteries (GIB), a unit of China-based Gotion High Tech Co 002074.SZ, to produce lithium-ion batteries in India.

GIB EnergyX Slovakia, a joint venture between Gotion and Slovakia-based InoBat, will license Gotion's lithium iron phosphate technology for lithium-ion cells to a unit of Amara Raja, the Indian battery maker added.

Under the licensing agreement, the Indian company will get access to cell technology IP, support for establishing Gigafactory facilities, and be integrated into Gotion's global supply chain network.

Gotion, whose largest shareholder is the German automaker Volkswagen VOWG_p.DE , specializes in lithium-ion rechargeable batteries for new energy vehicles.

Indian automakers mostly import EV batteries from China and South Korea and, along with domestic battery suppliers, have been investing in developing lithium-ion battery production capabilities within the country.

Amara Raja’s rival Exide Energy Solutions EXID.NS partnered with SVOLT in 2022 to build its own lithium-ion battery plant, which is expected to begin operations later this year.

In April, the South Korean auto duo, Hyundai Motor Co 005380.KS and Kia Corp 000270.KS signed a memorandum of understanding with Exide Energy Solutions to supply batteries for their electric vehicles, to boost competitiveness in the Indian auto market.

Earlier this year, Reliance Industries RELI.NS, JSW Neo Energy and Amara Raja Advanced Cell Technologies were among seven companies that submitted bids to set up battery manufacturing gigafactories in India.

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Tasim Zahid)

(([email protected];))

June 12 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES - INVESTED ABOUT 750 MILLION RUPEES VIA SUBSCRIPTION IN SHARE CAPITAL OF UNIT

• EXIDE INDUSTRIES - INVESTED VIA SUBSCRIPTION IN SHARE CAPITAL OF EXIDE ENERGY SOLUTIONS ON RIGHTS BASIS

Source text for Eikon: [ID:]

Further company coverage: EXID.NS

(([email protected];))

Adds Kellen comment

By Foo Yun Chee

BRUSSELS, May 29 (Reuters) - A group of car starter battery makers will contest European Union accusations of operating a cartel to fix battery prices at a closed hearing next week, people with direct knowledge of the matter said on Wednesday.

The companies are Banner, Clarios, Exide, FIAMM Energy Technology (FET) and its predecessor Elettra, and Rombat

Together with trade body Eurobat and its service provider Kellen, which were also charged by the European Commission, the companies will present their arguments at a week-long hearing in Brussels, they said.

Companies usually plead their case at such events before senior Commission officials and their peers from national competition agencies, rivals and customers. That could lead to regulators narrowing their charges, although this is rare.

The EU executive, which also acts as the EU competition watchdog, accused the group last year of colluding to increase the prices of automotive starter batteries sold to car producers in Europe.

It said this took place between 2004 and 2017, during which the seven participants created, published and agreed to use new indexes in their price negotiations with carmakers in the so-called Eurobat Premium system.

The Commission, Banner and FET declined to comment.

Kellen said it has submitted its defence to the Commission rejecting the claims and allegations.

"Our lawyers will defend Kellen at the hearing next week," a spokesperson said.

Clarios, Exide, Rombat and Eurobat did not immediately respond to requests for comment.

The companies, which make 12-volt lead batteries used to start most combustion engine cars, risk fines as much as 10% of their global turnover if found guilty of breaching EU antitrust rules.

(Reporting by Foo Yun Chee; Editing by Mark Potter)

(([email protected]; +32 2 585 2866; Reuters Messaging: [email protected]))

BENGALURU, May 28 (Reuters) - Indian battery maker Amara Raja Energy & Mobility AMAR.NS posted a rise in quarterly profit on Tuesday, helped by strong demand for its batteries from the automobile companies.

The company's standalone net profit rose nearly 62% to 2.28 billion rupees ($27.4 million) in the three months to March 31, still shy of analysts' average estimate of 2.33 billion rupees, according to LSEG data.

The automobile industry's requirement for batteries rose in the quarter as vehicle production increased more than 21% year-on-year, according to data from industry body Society of Indian Automobile Manufacturers (SIAM).

Amara Raja has top automakers, including Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS, and Hero MotoCorp HROM.NS, as its clients.

Revenue grew nearly 15% to 27.97 billion rupees, boosted by a 19% rise in the company's lead-acid batteries and allied products segment, which accounts for nearly all its revenue.

The segment also includes its industrial business, which benefitted from the expansion of India's 5G network, as Amara Raja also supplies batteries to telecom equipment manufacturers.

The company's expenses rose nearly 14%, led by increased inventory purchases. Raw material costs, including lead, a key input for battery makers, rose 2%.

Rival battery maker Exide Industries beat its fourth-quarter profit estimates last month.

($1 = 83.1768 Indian rupees)

(Reporting by Varun Hebbalalu in Bengaluru; Editing by Ravi Prakash Kumar)

(([email protected];))

May 14 (Reuters) - Exide Industries Ltd EXID.NS:

• INVESTED 750 MILLION RUPEES VIA SUBSCRIPTION IN SHARES OF EXIDE ENERGY SOLUTIONS

Source text for Eikon: ID:nBSE4gyGTf

Further company coverage: EXID.NS

(([email protected];))

April 30 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES LTD - APPOINTMENT OF AVIK KUMAR ROY AS MD & CEO

• EXIDE INDUSTRIES LTD - SUBIR CHAKRABORTY RETIRES AS MD, CEO

Source text for Eikon: ID:nNSE5YbW8X

Further company coverage: EXID.NS

(([email protected];;))

April 9 -

Joe White
Global Autos Correspondent
[email protected]

Greetings from the Motor City!

I spent roughly six hours yesterday making a drive to Northern Ohio that should have taken half that time. It made me wonder about the future of automated driving as envisioned by Elon Musk.

On the plus side, I saw the total eclipse of the Sun, which lived up to the hype.

On the less good side, I saw parts of Ohio and Michigan I had never visited, and ideally never will again. The AI route mapper in my phone sent me through subdivisions and then out into the swampy farm country west of Lake Erie as it hunted (unsuccessfully) for faster paths around the multi-mile traffic jam on the freeway between Toledo and home.

While traveling at zero miles per hour with my fellow eclipse hunters, I wondered how would the electric robotaxi Elon Musk promised to unveil in August have handled this trip?

The 150-mile distance is within the range of a Tesla. Check. But could my automated car have managed the meandering route – including stretches well off main highways – forced by the insane eclipse traffic?

What about the last-minute decision to visit a Lake Erie beach – not programmed into the trip at the start? How would I have ordered that up – since I didn’t start out knowing where to go?

Would my robotaxi have understood if my traveling companion suddenly jumped out of the car to walk a dog next to a line of traffic? A passenger in the Lexus SUV stuck behind me did that. (She and the dog had no trouble keeping up with the car.)

If we had seen a coffee shop on the drive, we would have pulled in – another unprogrammed stop. But I wouldn’t pre-program my car to stop at Starbucks – the easy robotaxi option. I never liked their coffee.

Our journey ended safe and sound. Where the race to automate road trips of the future will wind up is just one of the subjects for today’s review of the news from the World of Cars.

Don’t forget your special glasses! Here we go -

Today -

• Tesla settles an automated driving lawsuit

• China EV sales shift to a lower gear

• Ferrari’s careful battery play

Tesla’s robotaxis race Chinese rivals

Tesla avoided a trial this week that could have exposed more of the internal debate about its automated driving systems. The company did not release terms of its settlement with the family of Apple engineer Walter Huang, who drove his Tesla into a highway barrier while on Autopilot.

The settlement’s timing is the key. With Tesla sales and share price declining, Elon Musk is now trying to redirect attention to an event on Aug. 8 when he promises to reveal a new generation of Tesla vehicles that will be fully automated, for real.

Tesla’s current “Full Self Driving” technology is not a fully automated driving system. It requires drivers to pay attention and be ready to re-take control. Regulators continue to investigate whether the system’s design is safe.

Musk’s decision to park an affordable EV project and hit the gas on robotaxis comes as rivals in China are gearing up to mass produce automated vehicles by next year.

U.S. robotaxi ventures such as Cruise have been slowed by safety, regulatory and funding setbacks. In China, would-be automated vehicle producers are charging ahead, backed by the government. They are hoovering up powerful chips and software from Nvidia and Chinese tech giants.

BYD and other Chinese EV makers are no longer just pursuing a price war to take electric car market share. They are challenging Tesla for pre-eminence in a world where a lot of transport may be delivered as a service, powered by AI.

Essential Reading

• China’s coal imports rise along with EV sales

• A court says CO2 footdragging violates human rights

• Elon Musk says AI will soon be smarter than he is

China’s EV market flirts with single-digit growth

Electric vehicle sales in China rose by 10.5% in March, capping off the slowest quarterly growth in Chinese EV sales in a year.

The positive take: EV sales are still growing at roughly twice the pace of the overall Chinese market in a challenging macro-economic environment.

The bear take: Chinese EV sales are edging toward a single-digit growth pace despite government stimulus efforts and aggressive price cutting and sales promotions from the leading names in the sector – BYD and Tesla.

The lackluster EV sales report coincided with a visit to Europe by China’s commerce minister, Wang Wentao, whose talking points included assurances that Western governments had no basis for fears that Chinese EV makers planned to dump the EVs they cannot sell at home into overseas markets.

Ferrari wants to be a smart battery buyer

Ferrari, with sales of 14,000 vehicles a year, has no hope of getting a volume discount on EV batteries or becoming a viable battery maker.

But CEO Benedetto Vigna is investing in making Ferrari a better informed customer for battery producers. A research center backed by Ferrari and chipmaker NXP at Italy’s Bologna University is part of that effort.

Other automakers have made similar investments as a defense against battery producers selling them what Vigna called “black boxes” – batteries with chemistry and costs the automaker does not understand. Automakers, like geopolitical adversaries, want to “trust, but verify.”

Fast Laps

Lucid outperformed Tesla on Tuesday by reporting Q1 deliveries that exceeded expectations. The outperformance was off a very low base. Analysts expected Lucid to deliver 1,745 vehicles during the quarter. With the help of price cuts, Lucid actually handed over 1,967 of its premium sedans. Whether that resulted in a narrower loss will be revealed on May 6.

Toyota is putting its scandal-rocked Daihatsu mini-car affiliate on a shorter leash, the better to avoid more reputation-denting revelations from an operation that contributes little to the overall bottom line.

Hyundai-Kia will work with India’s Exide to produce lithium-iron EV batteries in India. Hyundai has outlined a $2.4 billion plan to expand EV sales in the world’s most-populous nation.

Volkswagen’s CEO said the German automaker cannot keep up in the Chinese EV market, and will avoid setting “utopian goals” for its share of the world’s largest market. VW, once a leader in China, has lost roughly 1 million vehicles per year in sales in China since 2019 and is looking at deep cost cuts in its Chinese ventures.

U.S. regulators fined South Korean battery maker SK On for worker safety violations at a U.S. battery plant in Georgia that supplies Ford and Volkswagen. Worker safety is a top issue for United Auto Workers organizers trying to convince U.S. battery plant workers to join the union.

Auto File is published on Tuesdays and Fridays. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.

(Editing by Mark Potter)

SEOUL, April 8 (Reuters) - Hyundai Motor Co 005380.KS and Kia Corp 000270.KS on Monday signed a memorandum of understanding with India's Exide Energy Solutions Ltd on battery production for their electric vehicles (EVs) in India.

The South Korean auto duo said in a statement that their partnership with Exide Energy aims to localise their EV battery production in India, specifically focusing on lithium-iron-phosphate (LFP) cells.

(Reporting by Heekyong Yang and Joyce Lee
Editing by Ed Davies)

(([email protected];))

March 27 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES LTD - FURTHER INVESTMENT IN WHOLLY OWNED SUBSIDIARY THROUGH RIGHTS ISSUE

• EXIDE INDUSTRIES - INVESTED 350 MILLION RUPEES IN EXIDE ENERGY SOLUTIONS ON RIGHTS BASIS

• EXIDE INDUSTRIES LTD - TOTAL INVESTMENT MADE BY CO IN EESL STANDS TO 20 BILLION RUPEES

Source text for Eikon: ID:nBSE5sSdFh

Further company coverage: EXID.NS

(([email protected];))

March 22 (Reuters) - Exide Industries Ltd EXID.NS:

• INVESTED 1.1 BILLION RUPEES BY WAY OF SUBSCRIPTION IN EQUITY CAPITAL OF UNIT CHLORIDE METALS ON RIGHTS BASIS

Source text for Eikon: ID:nBSE2sNFCV

Further company coverage: EXID.NS

(([email protected];))

March 6 (Reuters) - Exide Industries Ltd EXID.NS:

• TO INVEST 700 MILLION RUPEES IN SHARE CAPITAL OF CHLORIDE METALS

Source text for Eikon: [ID:]

Further company coverage: EXID.NS

(([email protected];))

Feb 27 (Reuters) - Exide Industries Ltd EXID.NS:

• EXIDE INDUSTRIES LTD - INVESTED 250 MILLION RUPEES IN EXIDE ENERGY SOLUTIONS

Source text for Eikon: ID:nBSE613JBS

Further company coverage: EXID.NS

(([email protected];))

BENGALURU, Feb 6 (Reuters) - Battery maker Eveready Industries India ERDY.NS reported a 55% jump in third-quarter profit on Tuesday, helped by diminishing input costs.

Lithium prices, a key raw material for battery makers, were down in the quarter, helping offset beleaguered rural demand for batteries and flashlights.

Eveready's total expenses fell almost 9% to 2.95 billion rupees, led by a 29% decline in raw material costs. As a result, consolidated net profit rose to 84.1 million rupees ($1 million) in the three months to Dec. 31.

The softness in prices of battery-making metals also helped Amara Raja Energy & Mobility AMAR.NS and Exide Industries EXID.NS post profit climbs in the third quarter.

While the two also make batteries, Amara Raja and Exide cater more to automobile and industrial needs while Eveready's products are for household use.

Eveready's revenue, however, fell almost 8% to 3.05 billion rupees.

"The pattern of softer rural consumption in key battery-flashlight segments and continuing industry phenomenon of value diminution in the lighting segment reflected the third-quarter performance," the company said in a statement.

($1 = 83.0310 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Janane Venkatraman)

(([email protected];))

Jan 24 (Reuters) - Exide Industries Ltd EXID.NS:

• Q3 NET PAT 2.4 BILLION RUPEES; LSEG IBES PROFIT EST. 2.62 BILLION RUPEES

• Q3 REVENUE FROM OPERATIONS 38.41 BILLION RUPEES

• Q3 YEAR AGO NET PAT 2.23 BILLION RUPEES, REVENUE 34.12 BILLION RUPEES

Source text for Eikon: ID:nBSEbQR8hd

Further company coverage: EXID.NS

(([email protected];))