Exide to invest Rs 180 cr on capacity expansion

Kolkata, July 25

Exide Industries Ltd will invest Rs 180 crore towards capacity expansion of both automotive and industrial batteries in this fiscal.

Talking to presspersons after the company’s annual general meeting here on Friday, the Managing Director and CEO, Mr T.V. Ramanathan, said that capacities of both the industrial and automotive segments would be augmented by 20 per cent each.

On possibilities of price revision, he said that such options would be examined if lead prices go past the $2,500-a-tonne mark.

Lead is the prime raw material of lead-acid batteries manufactured by Exide and is currently ruling around $2,200 a tonne.

Elaborating on its efforts to enhance the margin, Mr Ramanathan said the company aims to save 10 per cent on raw material cost by sourcing 50 per cent of the total lead requirement from own smelters during the next three years.

Exide has acquired two smelters during the last few months to recycle the lead used in batteries. This will reduce the company’s requirement of imported prime lead.

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