It is a battery manufacturing firm that works both in automotive and industrial sectors in India. This firm manufactures and markets lead acid batteries which are used in the automotive sector, power, telecommunications, infrastructure, UPS, railway, mining, and defence industries with sales to over 70 countries.
The shares of Exide Industries are currently trading at Rs. 431.20. Up by 1.23%. The company has a market capitalization of Rs. 36,647.75 crore. The stock’s 52 week high is Rs. 496.40 and its 52 week low is Rs. 287.00. In the past 6 months the stock has delivered a return of 44.47%.
What’s The News?
Exide Industries has completed the commissioning of Phase-I of EESL’s 6 GWh lithium-ion cell manufacturing facility at Devanahalli in Bengaluru. The first phase has a planned capacity of 6 GWh, with the broader project designed to be scalable to 12 GWh.
The facility is intended to manufacture cells using different chemistries and formats for a range of mobility and energy-storage applications. Earlier project details indicated that Phase-I comprises 3 GWh of NMC cylindrical cell capacity and 3 GWh of LFP prismatic cell capacity.
The commissioning follows the installation and validation of the manufacturing lines and the company’s earlier customer-sampling activities. Exide had previously indicated that its first NMC cylindrical line had started customer sample deliveries, while the LFP prismatic line had begun supplying samples for applications including three-wheelers and telecom.
Investment in Lithium-Ion Manufacturing
Exide is making substantial investments in EESL to develop the capacity to manufacture lithium-ion cells. As on 31 March 2026, Exide had made investments worth Rs. 4,802 crore in EESL, while it also planned to make further investments worth Rs. 1,400 crore in FY27.
According to the most recent research report dated September 2026, Exide had invested Rs. 5,102 crore in EESL up to 31 August 2026, while capex for Phase-I is estimated at about Rs. 6,000 crore through FY28.
Technology and Product Applications
The Bengaluru facility is being developed to manufacture lithium-ion cells across NMC and LFP chemistries, covering both cylindrical and prismatic formats. The cells are intended for use in electric vehicles as well as stationary energy-storage applications.
Exide has also entered into a technology partnership with SVOLT Energy Technology Co. Limited for lithium-ion cell manufacturing. Under the arrangement, Exide received rights to use and commercialise SVOLT’s technology and know-how, with SVOLT also supporting the company in establishing the end-to-end production process.
The company has also been engaging with OEMs and customers across mobility and stationary-storage applications. Its Gujarat module and pack facility has already helped establish an early presence in the lithium-ion battery market.
Expansion to 12 GWh
The 6 GWh Phase-I facility is not the final planned capacity. Exide has stated that the Bengaluru project can eventually be expanded to 12 GWh. The company had earlier indicated that the timing and investment for Phase-II would depend on demand and market conditions.
It is the company’s management that has recognized the operationalization and scaling up of the lithium ion segment as one of the company’s top priorities. During the FY26 AGM, the management informed that the company plans to capitalize on the growth in India’s transition towards new energy while still building up its lead acid batteries business.
Financial performance
Looking at the quarterly results of Exide Industries Limited, the company’s consolidated revenue from operations stood at Rs. 5,528.38 crore in Q1 FY27, compared with Rs. 4,695.12 crore in Q1 FY26, registering a growth of around 17.75% YoY. On a sequential basis, revenue increased by around 16.75% from Rs. 4,735.13 crore in Q4 FY26. Total income stood at Rs. 5,555.25 crore in Q1 FY27, compared with Rs. 4,722.69 crore in Q1 FY26.
In Q1 FY27, Exide Industries reported a consolidated profit before tax of Rs. 487.03 crore, compared with Rs. 384.91 crore in Q1 FY26, registering a growth of around 26.53% YoY. On a sequential basis, PBT increased significantly from Rs. 327.45 crore in Q4 FY26, marking a growth of around 48.73%.
The company’s consolidated net profit attributable to owners stood at Rs. 350.47 crore in Q1 FY27, compared with Rs. 272.99 crore in Q1 FY26, registering a growth of around 28.38% YoY. On a QoQ basis, net profit increased by around 62.82% from Rs. 215.25 crore in Q4 FY26. The company’s basic earnings per share stood at Rs. 4.12 in Q1 FY27, compared with Rs. 3.21 in Q1 FY26 and Rs. 2.53 in Q4 FY26.
On a standalone basis, Exide Industries recorded revenue from operations of Rs. 5,305.05 crore in Q1 FY27, compared with Rs. 4,509.81 crore in Q1 FY26. Standalone PAT increased to Rs. 407.26 crore, compared with Rs. 320.45 crore in the year-ago quarter, while basic EPS stood at Rs. 4.79, compared with Rs. 3.77 in Q1 FY26.
Overall, Exide Industries reported strong year-on-year and sequential growth in its consolidated revenue and profitability during Q1 FY27. The quarter also saw a sharp sequential improvement in profit, with consolidated PAT attributable to owners rising from Rs. 215.25 crore in Q4 FY26 to Rs. 350.47 crore in Q1 FY27. The company’s financial performance comes as it continues to invest in its new-energy business through Exide Energy Solutions Limited, including the recently commissioned lithium-ion cell manufacturing facility in Bengaluru.
Investor Perspective
The commissioning of the 6 GWh Phase-I lithium-ion cell manufacturing facility is a crucial step towards achieving the goal of creating a domestic business line for Exide Industries as part of its manufacturing of lead-acid batteries. It gives the company the ability to manufacture cells in-house and experience in emerging technologies like electric mobility and energy storage.
The important elements to watch out for moving forward include utilisation ramp up, customer homologation and commercial deliveries, contribution towards revenue from the cells segment, capital expenditure required for scaling up capacity to 12 GWh, and the profitability of EESL. At the end of FY26, the revenue recorded by EESL was Rs. 157.56 crore and loss after tax was Rs. 248.16 crore. This shows that the lithium-ion battery business is at an early stage of investments and scaling.