Exide Industries facing hiccups in the automotive battery segment has turned its focus in the uninterrupted power supply (UPS) and inverter segment where demand remained robust.
"Demand for automotive batteries is slowing and the only exception is the inverter segment. There is sudden surge of demand, mostly in the southern part of the country. We want to tap this demand," Exide Managing Director and CEO T V Ramanathan told reporters after the AGM.
"We are open to both greenfield expansion and even acquisitions if the need arises," he said.
The company recently forayed into the manufacturing and marketing of inverters for home segment by acquiring a manufacturing unit at Roorkie, Uttarakhand in January with an investment of Rs 17.5 crore.
The company is using its existing network of nationwide dealers to market the product and has invested Rs 10 crore in the plant.
Meanwhile, the company recently said it would invest Rs 270 crore as capital expenditure during the fiscal.
Exide was expecting good growth for July to September quarter of the fiscal and did not expect lead prices to go up in the future.
