Exide To Invest In Lithium: It is setting up a green field multi-gigawatt lithium-ion cell manufacturing facility in India. To meet the funding requirement of EESL, the board had earlier approved a limit of INR 1,900 crore. The company has so far invested INR 1,530 crore in the equity share capital of EESL. After the latest investment decision, the total equity investment will add up to INR 3,000 crore in EESL.
Exide Batteries: "Sales growth of 10% during the quarter was broad-based with both automotive and industrial verticals growing at a healthy pace. Input costs were slightly lower, and this, along with effective cost optimization initiatives, aided growth in profit," Exide Industries MD and CEO Subir Chakraborty said.
Exide Industries Q2 PAT up 12% at Rs 270 cr devdiscourse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from devdiscourse.com Daily Mail and Mail on Sunday newspapers.
India s Exide Industries on Monday reported a better-than-expected second-quarter profit helped by steady sales, and said it was optimistic on the near-to-medium term demand outlook..