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Exide recharges kitty

P.K. Kataky in Calcutta on Tuesday. Picture by Kishor Roy Chowdhury

Calcutta, July 22: Battery maker Exide Industries has earmarked Rs 350 crore as capital expenditure in 2014-15. The company plans to use the amount to increase production of industrial batteries at its existing plants and for technology upgradation.

The company also expects a recovery in automotive sales and is planning a capacity expansion of automotive batteries towards the end of 2016.

“The capacity expansion will mostly be industrial and for technological upgradation. For the automotive segment, we are in the process of upgrading the technology. Next year (2015-16), I don’t think there would be any big expansion. But towards the end of 2016, we have planned some expansion for the automotive segment,” said Exide’s managing director and chief executive officer P.K. Kataky.

He was speaking on the sidelines of the city-based company’s 67th annual general meeting.

“We had a market share of 8 per cent in the telecom segment. This quarter, the share has gone up to 21 per cent,” he said, adding that the market size is around Rs 600 crore.

He further expressed hope that during the second and third quarters this fiscal there could be a rise in demand from the replacement batteries segment, which constitutes a majority of sales in that segment.

“The commercial vehicle battery segment is not doing well and in passenger cars, the taxi segment is not doing well. If these two segments do well, replacement demand would go up,” Kataky said.

 
 
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