Exide Industries invested ₹99,99,99,980 in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), on July 15, 2026. The investment was made by way of subscription to equity shares on a rights basis to fund the subsidiary's greenfield lithium-ion cell manufacturing facility. With this infusion, the total investment by Exide Industries in EESL stands at ₹4,902.23 crore, while the parent company's shareholding remains unchanged at 100%.

Investment Details

The Board of Directors had previously approved an investment of up to ₹1,400 crore in EESL in one or more tranches. The latest tranche involved the allotment of 2,85,71,428 equity shares of ₹10 each at a premium of ₹25 per share. The funds are directed towards setting up a multi-gigawatt lithium-ion cell manufacturing plant in Bengaluru, aimed at catering to the electric vehicle market and stationary applications.

Subsidiary Financials

EESL, incorporated on March 24, 2022, reported a turnover of ₹157.56 crore for the financial year ended March 31, 2026. The subsidiary recorded a loss after tax of ₹248.16 crore for the same period. As of the latest date, EESL's paid-up equity share capital is ₹1,532.78 crore, and its net worth stands at ₹3,991.06 crore.

The transaction, classified as a related party transaction, was conducted at arm's length. The equity shares allotted against the current investment were issued on July 15, 2026.

Exide Industries declared a final dividend of ₹2 per share for the financial year ended March 31, 2026, at its 79th Annual General Meeting (AGM) held on July 10, 2026. The dividend, amounting to 200% of the face value of ₹1 per share, was approved alongside the adoption of audited financial statements. Shareholders sanctioned the re-appointment of Manoj Kumar Agarwal, who retires by rotation, as Director-Finance and Chief Financial Officer, and approved a revision in his remuneration terms.

The AGM was conducted through Video Conferencing and Other Audio Visual Means, with 197 members participating. The meeting, chaired by Mr. Sridhar Gorthi, commenced at 10:30 a.m. IST and concluded at 1:14 p.m. IST. Proceedings included addresses from the Chairman and Managing Director & CEO, Mr. Avik Roy, who highlighted the company's performance, the 'One Exide' operating model, and advancements in the lithium-ion business amidst global economic challenges.

Voting Results

All five resolutions proposed at the meeting were passed with the requisite majority. The scrutinizer, M/s Anjan Kumar Roy & Co., oversaw the remote e-voting and e-voting during the AGM. Remote e-voting was conducted from July 7, 2026, to July 9, 2026, with the cut-off date for eligibility set as July 3, 2026.

Resolution Outcomes

Business Proceedings

The statutory auditors, BSR & Co. LLP, and the secretarial and cost auditors were present at the meeting. A total of 27 shareholders spoke during the session, raising queries regarding operational performance, commodity price volatility, and sustainability initiatives. The management addressed these concerns, detailing the company's capital expenditure plans and competitiveness in the EV battery segment.

The notice for the AGM was circulated on May 4, 2026, and the Integrated Annual Report was made available on the company's website. The voting results will be submitted to the stock exchanges in due course as per Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.