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History of Exide Industries Ltd.

1959

- 1,35,000 shares issued without payment in cash.

1960

- The Comp. was Incorporated on 4th January, at Calcutta. The Company Manufacture lead & electric storage batteries, Exide motor vehicle batteries, Dagenite batteries & other batteries for railway coaches under the name Exide Ironclad & Shednought, heavy duty traction batteries, special batteries, for aircraft duties & for radio & signal equipment; & also stationary accumulators as required by power stations, telephone exchanges & other electrical installations.

- 6,80,000 shares issued [Prem. Rs 5 per shares]: 2,00,000 shares to Chloride Overseas, limited & 4,80,000 shares to the public.

1965

- 2,36,000 Bonus Equity shares issued in the proportion 1:5.

1967

- 3,54,000 Bonus Equity shares issued in the proportion 1:4.

1968

- The Comp. was granted a letter of intent to double the production to 2,40,000 batteries per annum & also to establish a container plant to make it self-sufficient. The polypropylene moulding plant was also commissioned.

- 13,54,000 Bonus Equity shares issued in the proportion 1:5.

1973

- With effect from 2nd August, the name of Comp. was changed from Associated Battery Makers [Easterns] Ltd., to Chloride India, Ltd. Effective from 12th October, 1988, the name was again changed to Chloride Industries, Ltd. - 18,88,000 Bonus Equity shares issued in the prop. 8:9. 1976

- A letter of intent was received in December for setting up of 100% export oriented it for manufacture of special types of storage batteries at Haldia, a notified backward area in Midnapore district of West Bengal.

- 15,04,500 Bonus shares issued in prop. 3:8.

1977

- The Comp. proposed to set up a new unit for manufacture of various types of industrial batteries at Haldia on a land adjacent to the 100% export unit.

1978

- 9,38,100 shares issued at a premium of Rs 10 per share. 7,43,340 shares as rights to resident Indian shareholders in prop. 1:3; 1,00,000 shares to LIC, UTI, ICICI, GIC & its subsidiaries & 94,760 shares to the Company employees & Indian directors. These shares were allotted in October, 1978.

1980

- The project for special grade microporous battery separators was commissioned in June. The 100% export unit was commissioned in March.

- 16,13,650 Bonus shares issued in prop. 1:4.

1982

- The Industrial battery factory & container manufacturing plant were commissioned on 24th August.

1983

- 48,40,950 Bonus shares issued in prop. 3:5.

1986

- 77,45,520 Bonus equity shares issued in prop. 3:5.

1987

- Application were made for licence to manufacture uninterrupted power supply systems.

1989

- A letter of intent was received for manufacture of uninterrupted power supply systems. Steps were taken to develop 'Solar operated' energy systems. Prototype cells for batteries used in underwater propulsion were developed.

- The Comp. issued non-convertible debentures for about Rs 5 crores on private placement basis to financial institutions to partly meet the cost of its modernisation programme. These debentures are redeemable at a premium of 5% in 1996.

1990

- The Comp. considered entering into areas of battery related items such as Uninterrupted Power Supply Systems, Non-conventional solar energy systems, etc.

- The Company overall sales improved by 17% to Rs.204 crores mainly due to increase in volume of batteries sold & normal increase in prices.

1991

- The Haldia Unit was presented with an award for achieving a high increase in productivity by confederation of Indian Industry. New products namely `Exide Freedom & Exide Trucking were introduced.

- 5,00,000 - 14% non-convertible debentures of Rs 100 each were issued. These debentures are redeemable at a premium of 5% in 3 equal annual instalments from 1988 to 2000.

- Due to difficulties experienced in the erstwhile Soviet markets, the Company entered the markets of UAE, Sri Lanka, Bangladesh, Paraguay and Ghana.

1993

- There was a drop in export mainly due to severe crash of prices in Middle East as well as Carbon re-exports from Middle East Market Centres. Some of new products launched were E88 battery for heeps and tractors, the Exidelite batteries for emergency lighting & inverter system, the Exide solar battery for solar lanterns.

- The Comp. undertook to set up a factory in or near Haryana to cater to all OE manufacturers. It was also proposed to expand & modernise the existing factories at Shamnagar, Chinchwad & Haldia with Shin-Kobe technology with a view to increasing the automotive capacity by 60% & motorcycle capacity by 160%.

- The Comp. along with its nominees hold the entire issued capital viz., 1,50,000 No. of equity shares of Rs 10 each of Chloride & Exide Batteries [Easterns] limited The name of this subsidiary was changed to Exide Products Ltd., with effect from 2nd April, 1982. Mine Safety Appliances Ltd., is an associated Comp. of Company.

- Chloride Overseas, Ltd., the holding Comp. holds along with its nominees 1,04,72,000 No. of equity shares of Company.

1994

- Some of new products introduced during the year, were the freedom battery range with a two year warranty for Maruti, range of Motorcycle batteries expanded from 7 types to 21 types.

- The Comp. entered into a technical collaboration agreement with Shin-Kobe for manufacture of valve regulated lead acid storage [maintenance frees] batteries to cater to the telecommunication power and UPS markets.

- Another agreement was entered into with `Varta' Germany for transfer of technology relating to most sophisticated submarine & industrial batteries.

1995

- The Comp. introduced the first truly maintenance free batteries in line with international specification.

- During November/December, the Comp. issued 41,30,944 rights equity shares of Rs 10 each at a premium of Rs 40 per share [in proportion 1:5s] along with a warrant exercisable at any time between 12 to 18 months after each issue at the discretion of Board of Directors. The warrant entities the holder to apply for one equity share at a premium of Rs 60 per share. All were accepted.

- Effective 25th August, the name of Comp. was changed from Chloride Industries Ltd., to Exide Industries Limited.

1996

- The Comp. introduced a range of new batteries for four-wheelers, two-wheelers & the industrial segment.

- The number of shares held by holding Comp. were 104,72,000. - 40,48,152 No. of equity shares allotted against detachable tradeable warrants issued with Rights shares.

1997

- The Rajan Raheja-controlled Exide Industries, the country largest automotive battery manufacturer, is exploring the acquisition route for stepping up production capacities. - Hitachi has a technical collaboration with Exide.

- Exide has already entered into agreements with many of the newly-established automobile projects like Telco Mercedes Benz, Daewoo Cielo & Opel Astra.

- Exide Industries Ltd, the country largest storage battery company, has inaugurated a state-of-the-art factory at Hosur factory.

- Exide Industries Ltd, the country largest storage battery company, has set a turnover target of Rs.1,000 crore for itself to be achieved by the turn of century.

- Exide recently set up a new plant at Hosur in Tamil Nadu to manufacture state-of-the-art range of maintenance-free industrial batteries Powersafe in technical collaboration with Shin-Kobe Electric Machinery Co Ltd of Japan, the makers of Hitachi batteries, to complement the production of VRLA batteries at its pilot plant at Haldia which commenced production in November 1996.

- The 50th year of India independence also marks 50 years for Exide. The 50th year of India independence also marks 50 years for Exide.

- The credit rating for fixed deposit programme of Exide Industries has been upgraded from MAA+ to MAA by Investment Information and Credit rating Agency [ICRAs]. In MAAA rating has also been assigned to Rs.15 crores, 18-month NCD programme. The Rs.30 crore CP programme was assigned an A1+ rating. All the above ratings indicate highest safety.

1998

- The Comp. has introduced a new battery, named Invaking, for inverters & `TV Queen' for television viewing. The Comp. is in the process of signing a fresh agreement for technical assistance with Shin Kobe of Japan for auto batteries in the current year.

- The Comp. manufactures products under brand names like Exide, Dynex and Index. Of these, Exide is the largest selling brand.

- The Comp. had set up a green field facility at Hosur in collaboration with Shin-Kobe of Japan.

- The Comp. occupies the top slot in terms of market share in the automotive storage battery industry.

- Exide is currently in the process of signing a fresh agreement with Shin Kobe of Japan, Hitachi manufacturing arm, for technical assistance for auto batteries.

- The Comp. introduced several new products for different ranges of vehicles & started producing Submarine batteries for Russian range along with the German HDW type. - The Comp. signed a technical collaboration agreement with Oldham Crompton Batteries of UK in an effort to introduce newer products for the Miner Cap Lamp Batteries.

- 71,67,454 shares of Rs.10 [prem. Rs.90 per shares] issued on rights basis in the ratio of 1:4.

1999

- Exide Industries Ltd [EILs], the largest manufacturer of lead acid storage batteries in the country.

2000

- Exide Industries Ltd, has forged a strategic alliance with its Japanese technical collaborator Shin-Kobe Electric Machinery, part of the Hitachi group for pooling in their expertise & become a global sourcing base for new automotive giants.

- The Comp. is now the largest VRLA battery manufacturer in the country & is the global supplier to American Powerconversion, the largest uninterrupted power supplier manufacturer in the world.

- The Comp. has launched its emergency service BAT-Mobile at Calcutta.

- The Comp. has ruled out the possibility of entering into a joint venture with Austrian firm Jungfer GmBH for manufacturing battery inputs.

- The Comp. proposes to amend its articles of association to make a provision for buyback of shares.

- The Comp. proposes to acquire share-holding in two lead acid storage battery companies, which are currently operating out of Singapore & Sri Lanka.

- Icra has assigned a MAAA rating to the Rs 100 crore medium term debenture programme of Exide Industries Ltd.

2001

- Standard Furukawa, a brand owned by Comp. has unveiled the Sonic range of maintenance-free automotive batteries based on the hybrid alloy plate technology.

- Exide Industries is super-charging its batteries that drive automobiles. It has tied up with automobile major Mahindra and Mahindra to become the OEM supplier of electric batteries for its EVs electric vehicles.

2003

-Exide Industries, ITC Ltd, Indian Aluminium & Tata Iron & Steel are four companies which are elected to category 'B' of CII national council from eastern region.

-Exide Industries comes up with a new strategy of combining the advantages of cost & technology,aiming at differentiating its products from others in the market.

-Exide signs a sourcing agreement with companies like UK, Neitherlands and Australia.

2005

-Exide launches new GenX batteries

2007

-The Comp. has issued rights in the ratio of 1:15 at a premium of Rs 29/- Per Share.