Exide Industries arm commissions phase-I of 6 GWh lithium-ion cell manufacturing plant

Battery maker Exide Industries Ltd on Wednesday (September 23) announced the completion of commissioning of Phase-I of its 6 GWh lithium-ion cell manufacturing facility by its material subsidiary, Exide Energy Solutions Ltd (EESL).

The facility is located at Devanahalli, Bengaluru, Karnataka, and the commissioning of Phase-I was completed on September 23, 2026.

"The facility has been established to manufacture advanced lithium-ion cells across multiple chemistries and form factors, enabling Exide Energy Solutions to serve a wide range of mobility and energy storage applications," Exide Industries said.

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Exide Energy Solutions Ltd, incorporated in March 2022, is engaged in manufacturing and selling lithium-ion battery cells, modules and packs for India’s electric vehicle market and stationary applications. As of 31 March 2026, it had a net worth of ₹3,991.06 crore and turnover of ₹157.56 crore, while reporting a loss after tax of ₹248.16 crore for FY26.

The Bengaluru plant, once operational, will not only serve the EV market but also address the increasing demand for stationary energy storage solutions, a sector that is set to grow as renewable energy adoption increases in India.

First Quarter Results

Exide Industries' consolidated net profit rose 28% year-on-year to ₹351.3 crore from ₹274.6 crore, driven by healthy revenue growth despite pressure on its margins.

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Revenue from operations increased 17.8% to ₹5,528.4 crore during the quarter, compared with ₹4,695.1 crore a year earlier. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose 15.5% to ₹621 crore from ₹538 crore, while EBITDA margin eased to 11.2% from 11.5% in the year-ago period.

Profit before tax (PBT) increased to ₹487 crore from ₹384.9 crore a year ago, while total income rose to ₹5,555.3 crore from ₹4,722.7 crore. Finance costs declined to ₹19.8 crore from ₹32.4 crore in the corresponding quarter last year.

The company said demand remained strong across its businesses, aided by the continued benefits of GST 2.0 reforms. It, however, highlighted headwinds from higher raw material costs due to the prolonged West Asia conflict and pressure from the rupee's depreciation against the US dollar.

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Managing Director and Chief Executive Officer Avik Roy said, "We have entered FY27 with strong momentum, supported by robust demand across automotive replacement, automotive OEMs, home inverters, industrial UPS, solar and exports."

He added that despite higher raw material costs arising from the prolonged West Asia conflict and the rupee's depreciation against the US dollar, the company implemented calibrated price increases alongside cost-efficiency and supply chain initiatives to maintain healthy profitability.

Shares of Exide Industries Ltd ended at ₹426.65, down by ₹2.75, or 0.64%, on the BSE.