Exide to expand in two, four-wheeler batteriesJuly 21st, 2011 - 6:08 pm ICT by IANS
Kolkata, 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.”
- Exide Q1 net profit slips 7 percent - Jul 16, 2012
- Exide net profit surges 132 percent - Jan 11, 2010
- Exide Q1 net profit slips 7 percent (Lead, superseding earlier story) - Jul 16, 2012
- Italian firm Sogefi to expand capacity in India - Jul 06, 2012
- Exide plans Rs.100 crore investment in this fiscal - Jul 17, 2009
- Metro Tyres to invest Rs.100 crore to expand production - Jul 05, 2012
- Exide open to acquiring more firms in home inverter segment - Jul 17, 2012
- Exide Industries plans Rs.400 crore capex for 2010-11 - Jul 14, 2010
- Exide posts 92 percent rise in net profit - Oct 12, 2009
- JK Tyre actively looking for rubber plantation overseas - Jul 30, 2012
- Hero MotoCorp first quarter net profit grows by 10.2 percent - Jul 19, 2012
- 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
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