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Exide Industries
BSE: 500086|NSE: EXIDEIND|ISIN: INE302A01020|SECTOR: Auto Ancillaries
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Company History - Exide Industries
1959
 
 - 1,35,000 shares issued without payment in cash.
 
 1960
 
 - The Company was Incorporated on 4th January, at Calcutta.  The
 Company Manufacture lead and electric storage batteries, Exide motor
 vehicle batteries, Dagenite batteries and other batteries for railway
 coaches under the name Exide Ironclad and Shednought, heavy duty
 traction batteries, special batteries, for aircraft duties and for
 radio and signal equipment; and also stationary accumulators as
 required by power stations, telephone exchanges and other electrical
 installations.
 
 - 6,80,000 shares issued (Prem. Rs 5 per share): 2,00,000 shares to
 Chloride Overseas, Ltd. and 4,80,000 shares to the public.
 
 1965
 
 - 2,36,000 Bonus Equity shares issued in the proportion 1:5.
 
 1967
 
 - 3,54,000 Bonus Equity shares issued in the proportion 1:4.
 
 1968
 
 - The Company was granted a letter of intent to double the production
 to 2,40,000 batteries per annum and also to establish a container
 plant to make it self-sufficient.  The polypropylene moulding plant
 was also commissioned.
 
 - 13,54,000 Bonus Equity shares issued in the proportion 1:5.
 
 1973
 
 - With effect from 2nd August, the name of the Company was changed
 from Associated Battery Makers (Eastern) Ltd., to Chloride India,
 Ltd. Effective from 12th October, 1988, the name was again changed to
 Chloride Industries, Ltd.
  
 - 18,88,000 Bonus Equity shares issued in the prop. 8:9.
  
 1976
 
 - A letter of intent was received in December for setting up of a
 100% export oriented it for the manufacture of special types of
 storage batteries at Haldia, a notified backward area in Midnapore
 district of West Bengal.
 
 - 15,04,500 Bonus shares issued in prop. 3:8.
 
 1977
 
 - The Company proposed to set up a new unit for the manufacture of
 various types of industrial batteries at Haldia on a land adjacent to
 the 100% export unit.
 
 1978
 
 - 9,38,100 shares issued at a premium of Rs 10 per share.  7,43,340
 shares as rights to resident Indian shareholders in prop. 1:3;
 1,00,000 shares to LIC, UTI, ICICI, GIC and its subsidiaries and
 94,760 shares to the Company's employees and Indian directors.  These
 shares were allotted in October, 1978.
 
 1980
 
 - The project for the special grade microporous battery separators
 was commissioned in June.  The 100% export unit was commissioned in
 March. 
 
 - 16,13,650 Bonus shares issued in prop. 1:4.
 
 1982
 
 - The Industrial battery factory and container manufacturing plant
 were commissioned on 24th August.
 
 1983
 
 - 48,40,950 Bonus shares issued in prop. 3:5.
 
 1986
 
 - 77,45,520 Bonus equity shares issued in prop. 3:5.
 
 1987
 
 - Application were made for licence to manufacture uninterrupted
 power supply systems.
 
 1989
 
 - A letter of intent was received for the manufacture of
 uninterrupted power supply systems.  Steps were taken to develop
 Solar operated energy systems.  Prototype cells for batteries used in
 underwater propulsion were developed.
 
 - The Company issued non-convertible debentures for about Rs 5 crores
 on private placement basis to financial institutions to partly meet
 the cost of its modernisation programme.  These debentures are
 redeemable at a premium of 5% in 1996.
 
 1990
 
 - The Company considered entering into areas of battery related items
 such as Uninterrupted Power Supply Systems, Non-conventional solar
 energy systems, etc.
 
 - The Company's overall sales improved by 17% to Rs.204 crores mainly
 due to increase in volume of batteries sold and normal increase in
 prices.
 
 1991
 
 - The Haldia Unit was presented with an award for achieving a high
 increase in productivity by confederation of Indian Industry.  New
 products namely `Exide Freedom and Exide Trucking were introduced. 
 
 - 5,00,000 - 14% non-convertible debentures of Rs 100 each were
 issued. These debentures are redeemable at a premium of 5% in 3 equal
 annual instalments from 1988 to 2000.
 
 - Due to difficulties experienced in the erstwhile Soviet markets,
 the Company entered the markets of UAE, Sri Lanka, Bangladesh,
 Paraguay and Ghana.
 
 1993
 
 - There was a drop in export mainly due to severe crash of prices in
 Middle East as well as Carbon re-exports from Middle East Market
 Centres.  Some of new products launched were E88 battery for heeps
 and tractors, the Exidelite batteries for emergency lighting and
 inverter
 system, the Exide solar battery for solar lanterns.
 
 - The Company undertook to set up a factory in or near Haryana to
 cater to all OE manufacturers.  It was also proposed to expand and
 modernise the existing factories at Shamnagar, Chinchwad and Haldia
 with Shin-Kobe technology with a view to increasing the automotive
 capacity by 60% and motorcycle capacity by 160%.
 
 - The Company along with its nominees hold the entire issued capital
 viz., 1,50,000 No. of equity shares of Rs 10 each of Chloride and
 Exide Batteries (Eastern) Ltd.  The name of this subsidiary was
 changed to Exide Products Ltd., with effect from 2nd April, 1982. 
 Mine Safety
 Appliances Ltd., is an associated company of the Company.
 
 - Chloride Overseas, Ltd., the holding company holds along with its
 nominees 1,04,72,000 No. of equity shares of the Company.
 
 1994
 
 - Some of the new products introduced during the year, were the
 freedom battery range with a two year warranty for Maruti, range of
 Motorcycle batteries expanded from 7 types to 21 types.
 
 - The Company entered into a technical collaboration agreement with
 Shin-Kobe for manufacture of valve regulated lead acid storage
 (maintenance free) batteries to cater to the telecommunication power
 and UPS markets.
 
 - Another agreement was entered into with `Varta' Germany for
 transfer of technology relating to most sophisticated submarine and
 industrial batteries.
 
 1995
 
 - The Company introduced the first truly maintenance free batteries
 in line with international specification. 
 
 - During November/December, the Company issued 41,30,944 rights
 equity shares of Rs 10 each at a premium of Rs 40 per share (in
 proportion 1:5) along with a warrant exercisable at any time between
 12 to 18 months after each issue at the discretion of Board of
 Directors.  The  warrant entities the holder to apply for one equity
 share at a premium of Rs 60 per share.  All were accepted.
 
 - Effective 25th August, the name of the Company was changed from
 Chloride Industries Ltd., to Exide Industries Limited.
 
 1996
 
 - The Company introduced a range of new batteries for four-wheelers,
 two-wheelers and the industrial segment.
 
 - The number of shares held by the holding company were 104,72,000.
  
 - 40,48,152 No. of equity shares allotted against detachable
 tradeable warrants issued with Rights shares.
 
 1997
 
 - The Rajan Raheja-controlled Exide Industries, the country's largest
 automotive battery manufacturer, is exploring the acquisition route
 for stepping up production capacities.
  
 - Hitachi has a technical collaboration with Exide.
 
 - Exide has already entered into agreements with many of the
 newly-established automobile projects like Telco's Mercedes Benz,
 Daewoo's Cielo and Opel Astra.
 
 - Exide Industries Ltd, the country's largest storage battery
 company, has inaugurated a state-of-the-art factory at Hosur
 factory.
 
 - Exide Industries Ltd, the country's largest storage battery
 company, has set a turnover target of Rs.1,000 crore for itself to be
 achieved by the turn of the century.
 
 - Exide recently set up a new plant at Hosur in Tamil Nadu to
 manufacture state-of-the-art range of maintenance-free industrial
 batteries Powersafe in technical collaboration with Shin-Kobe
 Electric Machinery Co Ltd of Japan, the makers of Hitachi batteries,
 to complement the production of VRLA batteries at its pilot plant at
 Haldia which commenced production in November 1996. 
 
 - The 50th year of India's independence also marks 50 years for
 Exide. The 50th year of  India's independence also marks 50 years for
 Exide.
 
 - The credit rating for the fixed deposit programme of Exide
 Industries has been upgraded from MAA+ to MAA by the Investment
 Information and Credit rating Agency (ICRA).  In MAAA rating has also
 been assigned to Rs.15 crores, 18-month NCD programme.  The Rs.30
 crore CP programme was assigned an A1+ rating.  All the above ratings
 indicate highest safety.
 
 1998
 
 - The company has introduced a new battery, named Invaking, for
 inverters and `TV Queen' for television viewing.  The company is in
 the process of signing a fresh agreement for technical assistance
 with Shin Kobe of Japan for auto batteries in the current year.
 
 - The company manufactures products under brand names like Exide,
 Dynex and Index.  Of these, Exide is the largest selling brand. 
 
 - The company had set up a green field facility at Hosur in
 collaboration with Shin-Kobe of Japan.
 
 - The company occupies the top slot in terms of market share in the
 automotive storage battery industry.
 
 - Exide is currently in the process of signing a fresh agreement with
 Shin Kobe of Japan, Hitachi's manufacturing arm, for technical
 assistance for auto batteries.
 
 - The Company introduced several new products for different ranges of
 vehicles and started producing Submarine batteries for the Russian
 range along with the German HDW type.
  
 - The Company signed a technical collaboration agreement with Oldham
 Crompton Batteries of UK in an effort to introduce newer products for
 the Miner's Cap Lamp Batteries.
 
 - 71,67,454 shares of Rs.10 (prem. Rs.90 per share) issued on rights
 basis in the ratio of 1:4.
 
 1999
 
 - Exide Industries Ltd (EIL), the largest manufacturer of lead acid
 storage batteries in the country. 
 
 2000
 
 - Exide Industries Ltd, has forged a strategic alliance with its
 Japanese technical collaborator Shin-Kobe Electric Machinery, part of
 the Hitachi group for pooling in their expertise and become a global
 sourcing base for new automotive giants.
 
 - The company is now the largest VRLA battery manufacturer in the
 country and is the global supplier to American Powerconversion, the
 largest uninterrupted power supplier manufacturer in the world.
 
 - The Company has launched its emergency service BAT-Mobile at
 Calcutta.
 
 - The Company has ruled out the possibility of entering into a joint
 venture with Austrian firm Jungfer GmBH for manufacturing battery
 inputs.
 
 - The Company proposes to amend its articles of association to make a
 provision for buyback of shares.
 
 - The Company proposes to acquire share-holding in two lead acid
 storage battery companies, which are currently operating out of
 Singapore and Sri Lanka.
 
 - Icra has assigned a MAAA rating to the Rs 100 crore medium term
 debenture programme of Exide Industries Ltd. 
 
 2001
 
 - Standard Furukawa, a brand owned by the company has unveiled the
 Sonic range of maintenance-free automotive batteries based on the
 hybrid alloy plate technology.
  
 - Exide Industries is super-charging its batteries that drive
 automobiles. It has tied up with automobile major Mahindra & Mahindra
 to become the OEM supplier of electric batteries for its EVs electric
 vehicles.
 
 2003
 
 -Exide Industries, ITC Ltd, Indian Aluminium and Tata Iron and Steel
 are  four companies which are elected to category 'B' of CII national
 council from eastern region.
 
 -Exide Industries comes up with a new strategy of combining the
 advantages of cost and technology,aiming at differentiating its
 products from others in the market.
  
 -Exide signs a sourcing agreement with companies like UK,
 Neitherlands and Australia.
 
 2004
 -Associated Battery Manufacturers (Ceylon) Limited, Sri Lanka became
 a subsidiary consequent to acquiring further 12.50% Equity holding. 
 -Exide to enter Afghanistan through wind, solar energy route
 
 -Exide Industries to provide CRM exercise to resolve battery
 problems
 
 2005
 
 -Exide launches new GenX batteries
 
 -Investment in 50% shareholding of ING Vysya Life Insurance Company
 Limited.
 
 2006
 -Launch of SAP-CRM in Industrial SBU.
 -Exide picks up 12.5 pc stake in Lanka bank arm
 -Exide Industries India, the leading storage battery manufacturer in
 the country is joining hands with Exide Pakistan Ltd for jointly
 promoting Exide brand in Pakistan
 -Exide poised for massive Haldia unit expansion
 
 
 2007
 
 -Launch of SAP-BW in Industrial SBU.
 -Caldyne Automatics Ltd becomes 100% subsidiary consequent to
 acquiring the balance 49% shareholding.
 -Investment with 26% shareholding.in CEIL Motive Power Pty Ltd. A
 Joint Venture in Australia
 -Acquired 100% stake in Tandon Metals Ltd.
 -The company has issued rights in the ratio of 1:15 at a premium of
 Rs 29/- Per Share.
 
 -Company has splits its Face value of Shares from Rs 10 to Re 1
 
 -Exide Industries Ltd Issues Rights in the Ratio of 1:15
 
 2008
 
 -Acquired 51% stake in Lead Age Alloys India Ltd 
 -Exide takes over 51pc stake in lead smelting co
 2009
 -Exide wins CFO of the year award in automotive and auto-ancillary
 category from CNBC-TV18 
 -Exide Haldia had a rich haul at the CII awards ceremony in Kolkata
 for 08-09 winning five awards in different categories. 
 
 2009
 
 -Exide Industries Ltd. has approved the payment of interim dividend
 @40%
 
 2010
 
 -Exide Industries Ltd has entered into an agreement for acquisition
 of  equity shares of Leadage Alloys India Ltd.
 
 - The company has approved the payment of an interim dividend @ 90%
 i.e. Re. 0.90 per equity share of Re. 1/- each.
 
 -Exide Industries Limited awarded the Frost & Sullivan 2010 Market
 Leadership Award in the Industrial Battery Segment
 
 2011
 
 -Mr. Nadeem Kazim has been appointed as Additional Director of the
 Company.
 
 2012
 
 -Exide Industries gains over 2% after winning trademark spat against
 Exide Technologies.
 
 -Messrs S. R. B. C. & Co., Chartered Accountants has been appointed
 as Auditors of the Company.
Source : Dion Global Solutions Limited
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