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Exide Industries > Company History > Auto Ancillaries > Company History of Exide Industries - BSE: 500086, NSE: EXIDEIND
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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.
 
 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. 
 
Source : Dion Global Solutions Limited
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