battery major to pump in 700cr in haldia plant | kolkata news - times of india - storage battery
Kolkata: Exide Industries, the country's leading battery manufacturer, will make Haldia the center of its next-generation battery project.
The battery giant plans to invest Rs 1,400 in technology upgrades and expansions over the next two years, with nearly 50% of them at its Haldia plant.
Gautam Chatterjee, general manager and CEO of Exide, told reporters after the company's annual general meeting that the company has a technical cooperation and assistance agreement with the US Oriental pen manufacturing company, which will manufacture "the next-
"Generation car battery" for the replacement market "(
Secondary market for spare parts and spare parts
Manual equipment and other goods and services for repair and maintenance).
"We do this in Haldia and then gradually replicate it in other plants.
Exide chose Haldia instead of other plants because it was the most expensive --
"Our plants are very effective," he added . ".
According to Chatterjee, Exide will invest 700 rupees in Haldia in the next two years.
This will increase production capacity by 1 million tons.
Currently, the capacity of the Haldia unit is 2.
2 million tons.
Exide has 11 production units nationwide, 7 of which produce batteries.
Chatterjee noted that it was looking for another 25 acres of land in Haldia and began land negotiations with the Port Authority of Haldia.
"We are looking for land adjacent to our existing factory," Chatterjee said . ".
Exide MD and CEO noted that the next generation battery project will be put into use by the end of this fiscal year.
"With the introduction of new technologies, the human error element will drop, mainly through robotic machines, and the battery life will increase by 15%-20%.
"The price of the battery will be a little higher," he added . ".
Commenting on the launch of the GST, Chatterjee said it would benefit the company.
"In an organized industry, we have to pay a 28% tax;
After the GST, it will fall to 18%.
We will be almost flat with unorganized departments.
"This should help organized manufacturers like us reduce taxes," he explained . ".
Up to now, the unorganized sector has a market share of 37% in the storage battery sector.
By the way, the battery giant's net profit increased significantly in 2016. '17 at Rs 196.
05 crore from Rs 155.
The corresponding quarter of the previous fiscal year was 71 crore.
Pre-tax profit for the quarter was RS 278, compared with RS 232 for the same period.
Revenue also rose slightly to RS 2,008.
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