Exide Industries

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For other uses, see Exide (disambiguation).

Exide Industries Limited
TypePublic
ISININE302A01020
Industry
Founded1947; 74 years ago (1947)
HeadquartersKolkata, West Bengal,
India
Area served
Worldwide
Key people
  • Bharat Dhirajlal Shah (Chairman)
  • Subir Chakraborty (CEO)
  • A K Mukherjee (CFO)
  • Uttio Majumdar (CMO)[1]
RevenueIncrease ₹9,186 crore (US$1.3 billion) (2018)
Increase ₹1,244 crore (US$170 million) (2018)
Increase ₹668 crore (US$94 million) (2018)
Total assetsIncrease ₹7,751 crore (US$1.1 billion) (2018)
OwnerRajan Raheja Group[2][3]
SubsidiariesExide Life Insurance
Websitewww.exideindustries.com

Exide Industries Limited is an Indian multinational storage battery manufacturer and life insurance company, headquartered in Kolkata. It is the largest manufacturer of automotive and industrial lead-acid batteries in India and fourth largest in the world.[4] It has plants in India and Sri Lanka and dealership network in 46 countries spanning across 5 continents. Exide also has four major lead-acid battery recycling facilities — two of which are in the United States, and Spain and Portugal each have one as well. The company claims that 99 percent of lead processed through these facilities is recycled.[4][5]

In January 2013, Exide Industries acquired 100% of the equity capital of ING Vysya Life Insurance.[6] In May 2014, the name of ING Vysya Life Insurance Company Limited was changed to Exide Life Insurance Company Limited.[7]

The company has seven factories located across the country – two in Maharashtra, two in West Bengal - Shamnagar (Mother plant) & Haldia, one in Tamil Nadu Hosur, one in Haryana and two in Uttarakhand. Exide is the only company which provide submarine batteries to Indian Navy.

History[]

This company was incorporated as Associated Battery Makers (Eastern) Ltd., on 31 January 1953 under the Companies Act, 1913 to purchase all or any of the assets of the business of manufacturers, buyers and sellers of and dealers in and repairers of electrical and chemical appliances and goods carried on by the Chloride Electric Storage Company (India) Ltd., in India, since 1916 with a view thereto to enter into and carry into effect (either with or without modification) an agreement which had already been prepared and was expressed to be made between the Chloride Electric Storage Co. (India) Ltd. on the one part and the company of the other part. The name of the company was changed to Chloride India Ltd. on 2 August 1972. The name of the company was again changed to Chloride Industries Ltd. vide fresh Certificate of Incorporation dated 12 October 1988. The company was further changed to Exide Industries Ltd. on 25 August 1995.

The company’s predecessor carried on their operations as import house from 1916 under the name Chloride Electrical Storage Company. Thereafter, the company started manufacturing storage batteries in the country and have grown to become one of the largest manufacturer and exporter of batteries in the sub-continent today. Exide separated from its UK-based parent, Chloride Group Plc., in 1989, after the latter divested its ownership in favour of a group of Indian shareholders.

Relationship between Exide Industries and Exide Technologies[]

Chloride Electric Storage Co. Ltd. (CESCO) was the United Kingdom-based division of the United States-based Electric Storage Battery Company (ESBC), a predecessor to today's Exide Technologies. In 1947, ESBC was forced to sell off CESCO following the decisions of a United States district court, and CESCO held the "Exide" trademark in the UK, and later sold batteries under the Exide name in India. In 1991, CESCO's successor, Chloride Group plc, fully divested its trademark in India and battery manufacturing operations to its current management.[8] In 1997, Exide Industries filed a lawsuit against Exide Technologies of the United States when the latter tried entering the Indian market, and both companies entered a prolonged legal battle that was heard by the Delhi High Court, which led to a 2012 verdict that Exide Industries was the legal owner of the Exide trademark in India.

An appeal was filed and in 2017, it was ruled that while Exide Industries was the trademark owner in India, Exide Technologies held the goodwill of the "Exide" name and both companies had a legitimate claim to use of the name in the Indian market. A further appeal from the Indian company that went to the Supreme Court of India led to a stay of the verdict, however, there was a restraining order on the use of the "Exide" name from the American company until the final verdict. Both parties settled in 2017, with an out of court settlement from Exide Industries to Exide Technologies, terms being that Exide Technologies waives any rights to the "Exide" trademark in India in perpetuity.[9]

Research and development[]

R&D work is carried out on various facets of lead-acid battery technology, which include development of new products for applications such as Automotive, Motorbike, VRLA, Telecom, UPS, Railways, Defence, etc. primarily to make the product range internationally competitive. In addition, the R&D is engaged in projects embracing process technology aimed at - improving the product quality & consistency, production efficiency and material utilization. Furthermore, R&D programme includes improvement and indigenisation of materials such as metals, alloys, plastics, etc. R&D emphasis is on studying and improving the environmental aspects associate with the manufacturing process.

Milestones[]

1916- Chloride Electric Storage Co. (CESCO) UK sets up trading operations in India as an import house.
1946- First factory set up in Shamnagar, West Bengal.
1947- Incorporated as Associated Battery Makers (Eastern) Limited on 31 January 1947 under the Companies Act.
1947- Incorporated Chloride International Limited (previously Exide Products Limited)
1969- Second factory at Chinchwad, Pune
1972- The name of the Company was changed to Chloride India Limited
1976- R&D Centre established at Calcutta
1981- Third factory at Haldia, West Bengal
1988- The name of the Company was changed to Chloride Industries Limited
1994- Technical collaboration with Shin Kobe Electric Machinery Co. Ltd. of Japan, a subsidiary of the Hitachi Group.
1995- Chloride Industries Limited renamed Exide Industries Limited
1997- Fourth factory at Hosur, Tamil Nadu
1998- Acquisition of industrial/ manufacturing units of Standard Batteries Ltd located at Taloja & Kanjurmarg (Maharashtra), Guindy (Tamil Nadu) and plant at Ahmednagar (Maharashtra) from Cosepa Fiscal Industries Limited as a going concern.
1999- Acquired 51% Shareholding in Caldyne Automatics Ltd
2000- Acquisition of 100% stake in Chloride Batteries S E Asia Pte Ltd., Singapore and 49% stake in Associated Battery Manufacturers (Ceylon) Limited, Sri Lanka.
2003- Commissioned plant at Bawal, Haryana
2003- New joint venture in UK, ESPEX, with 51% holding.
2004- Associated Battery Manufacturers (Ceylon) Limited, Sri Lanka became a subsidiary consequent to acquiring further 12.50% Equity holding.
2005- Investment in 50% shareholding of ING Vysya Life Insurance Company Limited
2007- Caldyne Automatics Ltd becomes 100% subsidiary consequent to acquiring the balance 49% shareholding.
2007- Investment with 26% shareholding.in CEIL Motive Power Pty Ltd. A Joint Venture in Australia.
2007- Acquired 100% stake in Tandon Metals Ltd.
2008- Acquired 51% stake in Lead Age Alloys India Ltd.
2009- Divestment of shareholding in CEIL Motive Power Pty Ltd.
2012- Acquisition of Inverter manufacturing facility at Roorkee, Uttarakhand
2012- Technical Collaboration with East Penn Manufacturing Co., USA
2012- Acquisition of second Inverter manufacturing facility at Haridwar, Uttarakhand.
2012- Acquisition of balance 49% shares in ESPEX Batteries Limited, UK.
2013- Acquisition of 26% shares of ING Vysya Life Insurance Company adding a total of 100% stake leading to "Exide Life Insurance Company".

Brands of Exide[]

  • SF SONIC
  • CHLORIDE
  • JUPITER
  • CONREX
  • DYNEX
  • CHAMPION
  • LITTLE CHAMP
  • BOSS
  • Hart
  • ₨IB BATTER
  • ₨BOSS
  • ₨MREAD
  • ₨XP
  • ₨T25

Subsidiaries[]

  • Associated Battery Manufacturers (Ceylon) Limited ("ABML")
  • Espex Batteries Limited ("ESP180EX")
  • Chloride Batteries S E Asia Pte Limited ("CBSEA")
  • Chloride Alloys India Limited (Leadage)
  • Chloride Metals Limited ("CML")
  • Chloride Power Systems & Solutions Ltd.("Formally known as Caldyne Automatics Ltd")
  • Chloride International Limited ("CIL") hart
  • Dynex

References[]

  1. ^ "Rediffusion Y&R's Uttio Majumdar to join Exide as CMO". www.bestmediaifo.com.
  2. ^ Rajan Raheja group (9 October 2009). "RRG advertisement" (PDF). rahejaqbe.com. Retrieved 24 July 2018.
  3. ^ "SB Raheja, Parekh exit Exide Board". thehindubusinessline.com. 28 May 2014.
  4. ^ Jump up to: a b "4 Companies that Make and Recycle Lead-acid Batteries | INN". 11 April 2018.
  5. ^ "Exide Industries". Business.mapsofindia.com. Retrieved 1 December 2010.
  6. ^ Saha, Manojit (23 January 2013). "Exide to buy out partners' stake in ING Vysya Life for Rs 550 cr". Business Standard India. Retrieved 30 October 2017.
  7. ^ Kulkarni, Mahesh (6 May 2014). "ING Vysya Life renamed as Exide Life Insurance". Business Standard India. Retrieved 30 October 2017.
  8. ^ "Exide Technologies vs Exide Industries Ltd. And Ors. on 2 August, 2016". Retrieved 9 July 2019.
  9. ^ "Exide Industries Limited vs. Exide Corporation, U.S.A. & Ors. | Khurana and Khurana".

External links[]

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