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  1. Exide to spend Rs 1.4k cr on tech upgrade, capex

Exide to spend Rs 1.4k cr on tech upgrade, capex

At a time when rival Amara Raja Batteries is giving stiff competition in the country's organised battery market, Exide Industries is planning to spend over Rs 1,400 crore in the next one year for technology...

By: | Kolkata | Published: June 28, 2016 6:14 AM

At a time when rival Amara Raja Batteries is giving stiff competition in the country’s organised battery market, Exide Industries is planning to spend over Rs 1,400 crore in the next one year for technology upgrade and capacity expansion. A significant amount of this capex will be incurred at its Haldia facility in West Bengal.

The Kolkata-based battery major, controlled by the Raheja family, is investing heavily for implementing the punch grid technology at the Haldia facility in East Midnapore district by building an entirely new unit there. This advanced technology for batteries would be used for the first time in India.

In its Haldia factory, the R6,809-crore turnover company already has two units — one for making general batteries and other for traction cells in industrial segment.

“We have a planned capital expenditure of over R1,400 crore for technology upgradation, making the organisation more cost-efficient and driving higher automation. This will enable us to reinforce our market leadership across product segments through better product quality and durability,” Exide Industries said in its recent annual report.

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