Exide Eyes ₹200 Billion Revenue From Lead-Acid Battery Business In 2–3 Years

Exide Industries Ltd. on Tuesday said it aims to grow revenue from its lead-acid battery business to ₹200 billion over the next 2–3 years, up from the current ₹165 billion.

“This year we have a very ambitious target. Our aim is to have ₹200 billion of business from the lead-acid battery business in the next 2–3 years,” said Managing Director and Chief Executive Officer Avik Roy. He did not share revenue targets for the company’s lithium-ion battery business.

Exide is building India’s first lithium-ion battery plant with an estimated investment of ₹50 billion. The upcoming facility will have an initial capacity of 6 GW hours, and the company has an 80-acre land parcel available for future expansion. “After 80% of the capacity is utilised, we will consider expanding by another 6 gigawatt-hours,” Roy said.

In the first phase, the lithium-ion plant will focus on producing batteries for electric vehicles, telecom towers, data centres, and other uses. A broader product range will be explored in the second phase.

Exide will also invest about ₹5 billion annually to expand existing plant capacity and its three recycling units. “These units process lead and plastic from discarded batteries and recycle them for use in new batteries,” Roy said.