Exide Industries Limited has subscribed Rs. 49,99,99,968/- (Rupees Forty-nine crores ninety-nine lakhs ninety-nine thousand nine hundred and sixty-eight only) to increase its equity share capital in its wholly owned subsidiary, Exide Energy Solutions Limited, under rights issue. Following this investment, the Company’s total investment in EESL amounts to Rs. 2,502.24 crore. This transaction does not alter the Company’s ownership percentage in EESL.
Exide Energy Solutions Limited (EESL), a wholly owned subsidiary of Exide Industries Limited (EIL), was established on March 24, 2022. EESL operates in the sector of manufacturing and selling lithium-ion battery cells, modules, and packs, catering to India’s electric vehicle market and stationary applications.
Exide Industries Limited reports a paid-up equity share capital of Rs. 898.66 crore as of the latest update. Their net worth as of March 31, 2024, stands at Rs. 1,981.56 crore, with a turnover of Rs. 239.14 crore for the same period.
However, the company incurred a loss after tax amounting to Rs. 149.45 crore for the fiscal year ending March 31, 2024. Currently, Exide Industries Limited’s total investment in the equity share capital of Exide Energy Solutions Limited (EESL), which includes share premium and investments in the previously merged subsidiary Exide Energy Private Limited (‘EEPL’), amounts to Rs. 2,502.24 crore.