EESL, incorporated in March 2022, is engaged in manufacturing and selling lithium-ion battery cells, modules and packs for India’s electric vehicle market and stationary applications. As of March 31, 2025, EESL had a paid-up equity share capital of ₹1,254.21 crore and a net worth of ₹2,738.06 crore. For FY25, it reported a turnover of ₹116.89 crore and a loss after tax of ₹209.12 crore.
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Exide Industries said the fresh equity infusion will support EESL’s ongoing greenfield project in Bengaluru, which is aimed at establishing large-scale lithium-ion cell manufacturing capabilities. The company noted that the funding will also help meet the subsidiary’s other requirements related to business expansion.The transaction was carried out on an arm’s length basis and does not alter Exide’s 100% ownership in the subsidiary. No additional regulatory approvals were required for the allotment, which was completed on August 20, 2025.
EESL’s turnover in previous years stood at ₹239.14 crore in FY24 and ₹112.05 crore in FY23, reflecting operations subsequent to the merger of Exide Energy Private into the entity. The business operates entirely in India and is focused on advanced chemistry battery cell production, including cylindrical, pouch and prismatic formats, as well as assembling modules and packs.
Also Read: Exide Industries Q4 Results: Profit down 11%; firm sees demand improving going ahead
Shares of Exide Industries Ltd ended at ₹396.20, up by ₹3.10 or 0.79%, on the BSE today (August 20).
(Edited by : Shoma bhattacharjee)
