Calcutta, March 4: Battery major Exide Industries Ltd (EIL) expects to post a 16-18 per cent growth in its turnover in the current financial year over the previous year’s Rs 984.8 crore. Its profitability too is likely to be much higher than Rs 31.42 crore registered last year.
The company feels the next fiscal will also be equally good in view of the excise duty cut announced in the budget, which should boost car production.
“If the auto market is able to come out of the recession, our sales will be much higher,” a senior EIL official said.
Anticipating growth in demand, the company plans to invest Rs 50 crore every year to add capacity at its nine plants across the country. At present, it has a production capacity of 4.2 million each of automotive and motorcycle batteries.