Battery maker Exide Industries Ltd invested ₹100 crore by subscribing to equity shares of its wholly owned subsidiary Exide Energy Solutions Ltd (EESL) on a rights basis. According to reports from CNBC TV18, EESL allotted 2.5 crore equity shares of ₹10 each at a premium of ₹30 per share, aggregating to ₹100 crore. The transaction was executed in cash on February 24, 2026.
Following the latest investment, Exide Industries' total investment in EESL, including share premium and investments made in the erstwhile merged subsidiary Exide Energy Private Ltd (EEPL), stands at ₹4,352.23 crore. As reported by CNBC TV18, the shareholding of Exide Industries in EESL remains unchanged at 100%. The transaction is classified as a related party transaction as EESL is a wholly owned subsidiary, executed at arm's length without requiring governmental or regulatory approvals.
EESL was incorporated on March 24, 2022, and is engaged in manufacturing and selling lithium-ion battery cells, modules and packs for India's electric vehicle market and stationary applications. According to CNBC TV18, the company is setting up a greenfield plant in Bengaluru for manufacturing and selling lithium-ion battery cells, modules and packs. The equity investment is intended to fund the greenfield project and meet funding requirements.
As of March 31, 2025, EESL had a paid-up equity share capital of ₹1,391.71 crore and a net worth of ₹2,738.06 crore. As reported by CNBC TV18, turnover for FY25 stood at ₹116.89 crore, with a loss after tax of ₹209.12 crore. The company's turnover for FY24 and FY23 was ₹239.14 crore and ₹112.05 crore respectively, subsequent to the merger of EEPL with EESL.
Shares of Exide Industries Ltd ended at ₹336.45, down by ₹1.85, or 0.55%, on the BSE on February 24, 2026. According to CNBC TV18, the company reported strong Q3 results with net profit rising 4.9% year-on-year to ₹257 crore compared with ₹245 crore in the same quarter last year. Revenue for the quarter increased 4.7% to ₹4,029 crore from ₹3,848 crore a year ago, with EBITDA margin standing at 11.60%.
