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Empathy Excellence Execution EXCELLENCE EMPATHY EXECUTION Exide in brief Exide Industries Limited (Exide) is a leader in energy storage and management solutions. It is the only company in the world Inside the report manufacturing the lead acid industry’s most comprehensive range CORPORATE OVERVIEW of products and services. Read more on Page 02 02 Exide in brief 04 Market drivers Revenue share by geography 06 Key performance indicators 08 E-positive 10 Excellence 16 Empathy 24 Execution 29 10-year performance 93% 7% 30 Corporate information Domestic Export STATUTORY REPORTS Revenue share by business 32 Notice 41 Directors’ Report, Corporate Governance and Annexures 30% 70% FINANCIAL STATEMENTS Institutional Non-institutional 116 Standalone sales sales 174 Consolidated Key application areas Automotive Industrial Submarine Key highlights 2019-20 9,857 1,365 9.71 6,296 N ET OPERATING EARNINGS SHAREHOLDERS’ TURNOVER PROFIT PER SHARE FUNDS (RS. IN CRORES) (RS. IN CRORES) (RS.) (RS. IN CRORES) The dawn of 2020 heralded a new decade of possibilities, driven by megatrends such as urbanisation, industrialisation of new economies and digitalisation of businesses and society. And then the COVID-19 pandemic emerged, posing as the single biggest threat to humanity. Organisations, the world over, are increasingly recognising the need to create conditions conducive for sustainable growth – respecting the natural environment and the community and co-creating a brighter and shared future for all stakeholders. This has led to radical, and perhaps, enduring changes, thereby fostering new business imperatives. At Exide, we are relying on three pillars of stakeholder capitalism to guide us through the new normal: excellence, empathy and execution. We are empowering a remote workforce, engaging with customers and business partners digitally, enabling virtualisation of internal and external communications, improving agility and efficiency, reducing operational costs, enhancing supply chain resilience, and instituting safe return-to-work measures across plants and offices. Every day, our people are united by the unique opportunity to unlock reliable power for tens of millions of customers. We are forward thinkers – innovating and collaborating with stakeholders to energise new possibilities and make a difference. And we will keep on extending our strong community and unique ecosystem, and innovating on multiple fronts, to benefit our partners, customers and society. We will keep on going the extra mile to be E-positive. 2 Corporate Overview Exide in brief THE ENERGY SOLUTIONS WE PROVIDE UNDERSCORE COMMERCIAL ENDEAVOURS OF THE CUSTOMERS WE ARE PRIVILEGED TO SERVE AND THE COMMUNITIES IN WHICH THEY LIVE. ENERGY TO EMPOWER HOMES, CORPORATES AND INDUSTRIES. ENERGY TO EMPOWER LIFE. Key application areas Guiding principles Automotive We aspire to be a responsible We are the market leader in all automotive applications in the business, contributing, together domestic market. Our portfolio spans batteries for four-wheelers, with our stakeholders, towards the two-wheelers, three-wheelers, e-rickshaws, inverters, gensets emergence of a better world. and home UPS systems. Brand Exide, SF Sonic and Dynex spearhead our domestic presence, while brands Dynex, Index VISION and SF Sonic cater to the international market. To become a Global Power House respected by customers and 3 AH TO 200 AH preferred by investors, known for CAPACITY RANGE innovative products and solutions. MISSION Industrial To outperform at market exceeding We provide reliable energy storage solutions to all industrial expectations of customers and applications: power, solar, railways, telecom, UPS, projects shareholders through the accelerated and traction, among others. Our domestic industrial battery evolution of people, processes brands are Exide, SF and CEIL; while our flagship brands in the and technologies in its journey overseas market are Exide, CEIL, Chloride and Index. towards excellence. 7 AH TO 3,200 AH CAPACITY RANGE CORE VALUES • Leadership • Integrity • People Development Submarine and Involvement We are the only company in South Asia with the capability of • Agility bulk manufacturing of high-end batteries for different classes • Passion for Innovation of submarines, such as German, Russian and French, along and Technology with nuclear submarines. We are the sole supplier to the • Channel Partner Relationship Indian Navy for more than three decades. We also export to • Striving for Excellence other countries with permission from the Government of India. • Customer Orientation Batteries used in submarines are highly critical and specialised • Management by Processes in nature, being the singular source of power in the warships. and Facts • Responsible Corporate Citizenship 20,000 AH ELECTRICAL~ CAPACITY OF EACH CELL E positive Excellence | Empathy | Execution ANNUAL REPORT 2019-20 3 Solid fundamentals ROBUST FINANCIAL HEALTH MANUFACTURING BRAND EQUITY Strong profitability and continuous 9 plants at strategic locations in 100+ years young brand with a new cost discipline India with a production capacity of positioning, #WhatDrivesYou 57 million units of automotive power and 5 billion Ah of industrial power R&D PROWESS TECHNOLOGY DISTRIBUTION NETWORK COLLABORATORS 90+ engineers and technology 150+ warehouses and sales experts Moura Batteries, Brazil; Furukawa offices and 48,000 direct & Battery Company, Japan; East Penn indirect dealers Manufacturing, USA; Advanced Battery Concepts, USA; and Hitachi Chemicals Co., Japan, among others SERVICE INFRASTRUCTURE GLOBAL FOOTPRINT HUMAN RESOURCES 170 service centres, 50+ export destinations 5,300+ passionate employees 170+ Batmobile vehicles, serving as brand ambassadors 100+ Humsafar vehicles, 1,300+ service technicians and 12 inverter repair centres Corporate Overview 4 ANNUAL REPORT 2019-20 5 Market drivers OUR OPERATING ENVIRONMENT IS BEING RESHAPED BY THE EVOLVING WAY OF LIFE AND THE TOWNS AND CITIES OF THE 21ST CENTURY, WHICH ARE BIGGER AND DENSER, WITH NEW ENERGY STORAGE NEEDS. THE RAPID PACE OF SOCIAL AND TECHNOLOGICAL CHANGE HAS PUT EXIDE AT THE CORE OF A TRIPLE TRANSFORMATION. 1 Electrification to become a reality EXIDE’S RESPONSE COST ECONOMICS Undertaking an early lead in India’s nascent lithium-ion battery market Why Key impacts Exide Leclanche Energy Private Limited is the • Declining upfront costs • Lower battery prices new-age JV between India’s largest battery • Improving performance • Enhanced manufacturer, Exide and Europe’s leading energy product quality storage solutions provider, Leclanché. The JV is well placed with an automotive quality certification, a robotised assembly line and a GOVERNMENT INITIATIVES production scale of 1.5 GWh, to take a leading position in the lithium-ion battery market in India. Why Key impacts • Rising urban pollution • Public health at risk 6 production lines have been ordered for battery • Increasing • Biodiversity loss pack assembly for cylindrical, prismatic and pouch carbon emissions • India perceived cells. The first line is operational and brings the • Widening trade deficit as one of the key world-class Leclanché technology to India. Other polluting countries lines are on their way and the last one is expected • Lion’s share of India’s to be in place by November 2020. The JV has crude oil needs met set up an R&D centre in Bengaluru where several through imports, raising product development programmes are underway. overall import bill Many pilot orders have been collected from multiple automotive OEMs, as well as large telecom operators, UPS manufacturers and solar PV companies. OEM TRANSITION Why Key impacts • Disruption in automotive • Traditional Original industry led by Equipment Manufacturers CASE (connected, (OEMs) shifting to the autonomous, manufacturing of EVs shared and • Evolving EV electric) technologies infrastructure • Entry of multinational • Higher incidence players in the Electric of partnerships and Vehicle (EV) segment strategic collaborations in the EV space Corporate Overview 4 E positive Excellence | Empathy | Execution ANNUAL REPORT 2019-20 5 Energy decentralisation to accelerate in step with 2 economic development Decentralised distributed power generation and energy EXIDE’S RESPONSE production provide a range of benefits, such as improved Going bullish on energy storage solutions access, cost savings, resilience and efficiency. Modern We are piloting multiple utility-scale energy storage energy storage solutions leverage digital technologies solutions for different applications in co-location to address challenges arising from intermittency, interact projects and grid support. dynamically with the grid network and facilitate grid balancing during peak consumption. Exide, Leclanché and Tata Power jointly worked and collaborated to advance a R&D pilot Further, advancements in energy storage and community Battery Energy Storage System (BESS) information technology have made the prospects of grid project, which included an initial installation and decarbonisation even more promising. operation of a grid-connected BESS. This BESS uses lithium-Ion batteries and has a power rating of 150kW with a nameplate capacity of 528 kWh that is mounted in a 20-feet container on site at a substation of Tata Power in New Delhi. The project will cater to applications like peak shaving, deviation settlement mechanism loss minimisation, aggregate technical & commercial loss reduction, transmission & distribution asset life extension, frequency & voltage regulation and more. 3 Data centres to spread the world
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