Exide Industries Limited , a leading battery manufacturer, has announced that its shareholders have approved the appointment of two new Whole-time Directors through a postal ballot process. The voting, which concluded on October 24, 2025, saw strong support for both appointments, reflecting shareholder confidence in the company's leadership choices.

Key Appointments

The two appointments approved by shareholders are:

1. Mr. Rajeev Ramesh Chand Khandelwal (DIN: 08763979)
2. Mr. Pravin Ramchandra Saraf (DIN: 10137023)

Both directors have been appointed for a three-year term, from September 1, 2025, to August 31, 2028.

Voting Results

The postal ballot, conducted through remote e-voting, saw participation from 2,796 shareholders out of a total of 12,87,396 shareholders on the record date. The voting results for both resolutions were overwhelmingly positive:

Voting Process

The e-voting period began on September 25, 2025, and concluded on October 24, 2025. Shareholders holding shares as of the cut-off date, September 12, 2025, were eligible to participate in the voting process. The company had dispatched the Postal Ballot Notice electronically on September 24, 2025, to all eligible members.

Scrutinizer's Report

The voting process was overseen by Mr. S. M. Gupta of S.M. Gupta & Co., Company Secretaries, who served as the Scrutinizer. The Scrutinizer's report confirmed that both resolutions were passed with the requisite majority.

Shareholder Participation

The voting saw active participation across different shareholder categories:

• Promoter and Promoter Group: 100% of their holding (390,954,666 shares) voted, all in favor of both resolutions.
• Public Institutions: 86.52% of their holding (216,426,702 shares) participated, with 97.01% voting in favor.
• Public Non-Institutions: 18.14% of their holding (approximately 37.9 million shares) took part, with over 99.93% voting in favor.

This high level of support across all shareholder categories underscores the confidence in the company's decision to appoint these new Whole-time Directors.

The appointment of Mr. Khandelwal and Mr. Saraf as Whole-time Directors for a three-year term signals Exide Industries' commitment to strengthening its leadership team. As the company continues to navigate the evolving energy storage landscape, these appointments may play a crucial role in shaping its future strategies and operations.

Exide Industries , a leading battery manufacturer, has announced a significant investment of ₹80 crore in its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL). This strategic move is aimed at funding the development of a lithium-ion cell manufacturing plant in Bengaluru, marking a crucial step in the company's expansion into the electric vehicle (EV) and energy storage markets.

Investment Details

The investment was executed through a subscription to EESL's equity share capital on a rights basis. With this infusion, Exide Industries' total investment in EESL has reached ₹3,882.23 crore, underscoring the company's commitment to establishing a strong foothold in the advanced battery technology sector.

Subsidiary Profile

Exide Energy Solutions Limited, incorporated on 24th March 2022, is engaged in the manufacturing and selling of lithium-ion battery cells, modules, and packs. The company aims to cater to India's growing electric vehicle market and stationary applications. Some key financial details of EESL include:

Project Focus

The greenfield plant in Bengaluru is set to manufacture lithium-ion battery cells of advanced chemistry and form factors, including cylindrical, pouch, and prismatic types. This initiative aligns with India's push towards electric mobility and renewable energy storage solutions.

Market Implications

Exide Industries' investment in EESL reflects the growing importance of lithium-ion technology in the Indian market. As the automotive industry shifts towards electrification and renewable energy adoption increases, the demand for advanced battery solutions is expected to rise significantly.

Industry Context

The move comes at a time when the Indian government is actively promoting domestic manufacturing of lithium-ion cells through various initiatives and incentives. Exide's investment in this sector positions the company to capitalize on the anticipated growth in the EV and energy storage markets.

Exide Industries' latest investment in its subsidiary for lithium-ion cell manufacturing demonstrates the company's strategic vision to diversify its product portfolio and align with the evolving energy landscape. As the project progresses, it is expected to contribute significantly to India's self-reliance in advanced battery technology and support the country's clean energy goals.