Exide Industries , a leading battery manufacturer, has announced the postponement of its scheduled board meeting following an ongoing income tax survey at its offices and manufacturing units across India. The company, known for its automotive and industrial batteries, is currently cooperating with the tax authorities as they conduct their inspection.

Key Developments

• Income Tax Survey: The Income Tax department initiated a survey at Exide Industries' offices and manufacturing units.
• Board Meeting Postponed: The board meeting originally scheduled has been delayed.
• Purpose of Meeting: The postponed meeting was intended to consider and approve the unaudited Standalone and Consolidated financial results for Q2.

Impact on Operations

Exide Industries has assured stakeholders that the ongoing tax survey has not significantly affected its business operations. In an official statement, the company mentioned:

"Currently, there is no material impact on the business operations of the Company due to the aforesaid action."

Regulatory Compliance

The company has committed to full cooperation with the tax authorities during this process. In line with regulatory requirements, Exide Industries has taken the following steps:

1. Informed the stock exchanges about the postponement of the board meeting.
2. Promised to disclose any material updates that may arise from the tax survey, in accordance with SEBI Listing Regulations.
3. Extended the closure of the trading window for insiders until 48 hours after the declaration of the Q2 financial results.

What's Next

Exide Industries has stated that it will announce a revised date for the board meeting in due course. Investors and stakeholders are advised to await further communications from the company regarding:

• The conclusion of the income tax survey
• The rescheduled date for the board meeting
• The release of Q2 financial results

As the situation unfolds, market participants will be keenly watching for any potential implications on Exide Industries' financial position and operational performance.

Note: Investors are encouraged to follow official company announcements for the most up-to-date details.

Exide Industries Limited (EIL) has made a significant move to strengthen its position in the electric vehicle (EV) and energy storage markets. The company has invested an additional ₹65 crore in its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL), bringing its total investment in the subsidiary to ₹3,947.23 crore.

Investment Details

The investment, made on October 28, 2025, was executed through a subscription to EESL's equity share capital on a rights basis. Here's a breakdown of the transaction:

About Exide Energy Solutions Limited

EESL, incorporated on March 24, 2022, is strategically positioned in the electric vehicle and energy storage sectors. The subsidiary focuses on:

• Manufacturing and selling lithium-ion battery cells, modules, and packs
• Targeting India's electric vehicle market
• Developing solutions for stationary applications

Financial Snapshot of EESL

As of March 31, 2025, EESL's financial position stood as follows:

Strategic Implications

This investment underscores Exide Industries' commitment to expanding its footprint in the advanced energy storage solutions market. By bolstering EESL's financial position, Exide aims to enhance its capability to develop and manufacture battery technologies for the growing electric vehicle and renewable energy sectors.

The move aligns with India's push towards electric mobility and sustainable energy solutions, positioning Exide to potentially capitalize on these emerging market opportunities.

Disclosure and Compliance

EIL has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has stated that the transaction was conducted at arm's length, maintaining transparency in its dealings with the wholly-owned subsidiary.

As the electric vehicle and energy storage markets continue to evolve, Exide's investments in EESL may play a role in shaping the company's future in these sectors.