Page 11 - Battery Makers

Exide Industries profit drops 26% at Rs 178 crore in December quarter

Exide Industries on Monday said its consolidated net profit declined 26 per cent to Rs 178 crore in the third quarter ended December 31, 2021. The company had reported a net profit of Rs 240 crore in the same period of 2020-21. Revenue from operations rose to Rs 3,312 crore as compared with Rs 2,891 crore, Exide Industries said in a regulatory filing. "Due to unprecedented input cost inflation, profitability has been adversely impacted," MD & CEO Subir Chakraborty noted. The Kolkata-based company said its board has declared an interim dividend of 200 per cent for 2021-22.

Amara Raja to invest in Europe-based EV battery maker InoBat Auto

The initial investment will give the company a key foothold in the thriving European EV ecosystem

Kabra Extrusion surges 16% on Rs 100 crore capex plan for its battery unit

The company's board has also approved a proposal to raise up to Rs 301 crore for the expansion of its future technologies brand Battrixx

Kabra Extrusion Technik board approves raising Rs 301 cr for expansion

A part of the city-based Kolsite Group and leading manufacturer of plastic extrusion machinery, Kabra Extrusion Technik recently ventured into the production of lithium-ion battery packs

Electric vehicles set to get costlier from next year in India

Most EV makers, especially those of two-wheelers, are currently dependent on imports for their raw materials, with a maximum localisation of 50 per cent

Honda Motor sets up battery sharing service subsidiary in India

The company's battery sharing service subscribers can avail services from the nearest battery swapping station to exchange discharged battery for the fully charged ones

Amara Raja Batteries net profit declines 28% to Rs 144 cr in Sept quarter

Amara Raja Batteries Ltd on Friday reported a 28 per cent decline in consolidated net profit to Rs 144.32 crore in the second quarter ended September 30, 2021, impacted by a rise in input costs. The company had posted a consolidated net profit of Rs 201.27 crore in the same period last fiscal, Amara Raja Batteries Ltd said in a regulatory filing. Its consolidated revenue from operations during July-September 2021 stood at Rs 2,264.15 crore as against Rs 1,935.52 crore in the year-ago period, it added. Total expenses stood at Rs 2,097.17 crore, higher as compared with Rs 1,676.03 crore a year ago. The cost of materials consumed was also higher at Rs 1,484.82 crore, against Rs 1,119.75 crore in the year-ago period. Commenting on the performance, Amara Raja Batteries Chairman, Managing Director & CEO Jayadev Galla said, "The demand signals are positive across all product segments but the increased input material costs are driving the margins negatively." He further said, "We will ..

Exide Industries Q2 consolidated net dips 24% at Rs 194 crore

The battery maker had reported a net profit after tax of Rs 256.62 crore in the corresponding quarter of the preceding fiscal

India targets major global firms for local battery manufacturing: Report

India will host five roadshows starting next month in countries including the United States, Germany, France, South Korea and Japan

India invites EoI for Battery Energy Storage System for 1 GW/hour project

Central Government has given go ahead for inviting the expression of interest for installation of 1000 MWh Battery Energy Storage System as a pilot project

Battery giants face skills gap that could jam electric highway

LG Energy Solution (LGES), SK On, and Samsung SDI Co Ltd all rank in the top-six global battery makers, and supply the likes of Tesla Inc, Volkswagen and Ford Motor Co among others.

Ford, SK Innovations to invest $11.4 bn on electric truck, battery plants

The project will create two vast sites to produce electric vehicles and the batteries to power them, employing nearly 11,000 workers, the companies said Monday

Mercedes-Benz plans $8.2 billion European battery venture

The luxury-car maker will take a 33% stake in battery manufacturer Automotive Cells Company that will be financed through equity, debt and subsidies to build capacity of at least 120 gigawatt hours

This battery idea from 1970s could help EVs take lead in auto industry

Sodium-based batteries aren't going to take electric cars any further than lithium can, but materials needed to make them are widely available.

Glencore acquires stake in UK battery maker Britishvolt for gigafactory

Britishvolt is building the U.K.'s first giant battery factory in northern England.

Eveready gets a new joint managing director in Suvomoy Saha

The move comes more than a year after the Burman family - promoters of Dabur India - became the largest shareholder in Eveready with a stake of 19.84%

Amara Raja, Indo National: Stocks of battery makers that can jump up to 25%

RIL has forayed into Lithium-ion battery biz through stake buy in US company. Here's how stocks of traditional battery makers look on the technical charts

Exide Industries posts consolidated profit of Rs 32 crore in first quarter

Shares of the company on Friday ended 2.44 per cent up at Rs 178.55 apiece on the BSE.

Hyundai Motor to invest in Solid Energy Systems, a next-gen battery company

Solid Energy and General Motors are planning to construct a lithium metal battery test production plant near Boston by 2023, and will commercialise it in 2025.

Schneider to infuse Rs 350-400 cr in Indian subsidiary Luminous Power

A significant part of the investment will be focused on Luminous Power's solar business