Exide to expand in two, four-wheeler batteries
July 21st, 2011 - 6:08 pm ICT by IANSKolkata, July 21 (IANS) Exide Industries Ltd said Thursday it will expand its capacity for two-wheeler and four-wheeler batteries this fiscal, pumping in Rs.370 crore.
“It will be funded entirely from our own sources,” Exide Industries managing director and chief executive officer T.V. Ramanathan said on the sidelines of the company’s 64th annual general meeting here.
“Capacity will be increased to 12 million batteries for four-wheelers and 21.6 million batteries for two-wheelers,” he added.
Now the company produces 10.2 million batteries for four-wheelers and 14 million batteries for two-wheelers.
He added: “The second quarter will be tough. Pressure on profitability is likely to be continued.”
Is the company looking to increase prices? Ramanathan said: “Every time we review the prices and if the market permits, we increase. But we do not have any plan now.”
About plans for investing in ING Vysya Life Insurance Co, he said: “We got a board approval to invest … up to Rs.150 crore.”
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- Exide plans Rs.100 crore investment in this fiscal - Jul 17, 2009
- Exide Industries plans Rs.400 crore capex for 2010-11 - Jul 14, 2010
- Exide posts 92 percent rise in net profit - Oct 12, 2009
- TVS Motor to invest Rs.150 cr on capacity building - Apr 21, 2010
- Eicher mulls greenfield facility for Bullets, other two-wheelers - Jan 21, 2011
- Vibgyor Vehicles to export two-wheelers to Africa, Nepal - Dec 21, 2010
- Exide setting up new plant at Ahmednagar - Apr 28, 2010
- Bajaj Auto unveils low-cost four-wheeler (Lead) (With image) - Jan 03, 2012
- ING Life investing Rs.240 crore on expansion - Jul 01, 2010
- Greaves Cotton plans to expand construction equipment, diesel engine range - Apr 28, 2012
- Tafe to invest Rs.1 bn to expand battery capacity - Dec 01, 2010
- Hero MotoCorp's fourth quarter net up 20 percent - May 02, 2012
- Exide Q4 net profit dips 12.9 percent - Apr 30, 2012
- Karnataka gives tax sops to Honda bike plant - Feb 17, 2012
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