Exide Industries Limited · NSE:EXIDEIND
Exide Industries — Investor Presentation (March 2020)
86 slides from Exide Industries's investor presentation, Mar 3, 2020
Slide 1: Investor Presentation
03-March-2020 Investor Presentation 1 Mumbai Mr. Gautam Chatterjee, MD & CEO 1
Slide 2: Safe Harbour Statement
Safe Harbour Statement 1 In this document, we have disclosed forward-looking information to enable investors to comprehend our prospects and take investment decisions. This document and other statements–written and oral–that we periodically make, contain forward-looking statements that set out antic
Slide 3: Resilient India
Resilient India 1 It is the Best of Times It is the Age of Wisdom Absolute Electoral Majority for Single Party We must be an early mover in EV It is the Epoch of Belief It is the Season of Light India will be a $5 Trillion Economy Every Indian Village has got Electricity It is the
Slide 4: Over a Hundred years
Over a Hundred years 1 Witness to … Serving since 1916 2 World Wars Age 104 Years Partition of India Opening up of Economy (1991) Decline and withering away of many Indian companies who were the Dominant Players of their times Swamping of many sectors with Imported products Social, Economic and Tech
Slide 5: Technology – Ahead of Time, All the Time
Technology – Ahead of Time, All the Time 1 First to Launch PP Batteries First to Launch Submarine Batteries First to Launch Tubular Inverter Batteries First and only one to make Plante Batteries First to Launch ISS Batteries First to Launch EFB Batteries First to Launch Ultra Auto and Industrial Bat
Slide 6: Our Legacy inspires us
Our Legacy inspires us 1 During World War I, Chloride Engineers developed a battery to 1914-1918 Serving since 1916 operate airplane radio sets and First Factory 1946 numerous radio stations Exide batteries provided power The Statesman, 1950s 5-Oct-1920 for Piccard's balloon flight Exide battery
Slide 7: Our Achievements drive us
Our Achievements drive us 1 Since inception, Exide has remained Market Leader in the Lead Acid Battery industry in India, each year every year 100+ years of posting Profit and paying Dividend year z after year–a rare feat, even globally In several African Countries, irrespective of Brand, ‘bat
Slide 8: Agenda
Agenda 1 1. Exide Overview 2. Market Leadership in a Challenging Environment 3. Making Exide ‘Future Proof’ 4. Robust Financial Health 5. Benchmarking with Competition 6. Way Forward 8
Slide 9: Agenda
Agenda 1 1. Exide Overview 2. Market Leadership in a Challenging Environment 3. Making Exide ‘Future Proof’ 4. Robust Financial Health 5. Benchmarking with Competition 6. Way Forward 9
Slide 10: Exide Industries Limited – bird's eye view
Exide Industries Limited – bird’s eye view 1 Wide Application Areas (revenue share) AUTOMOTIVE INDUSTRIAL OTHERS 1. Four wheeler 1. Industrial UPS 1. Submarines 2. Three wheeler 2. Renewable Energy 2. Chargers 3. Two wheeler 3. Power & Projects 3. Solar projects 4. Tractor 4. Telecom 5. E-rickshaw 5
Slide 11: Board of Directors and Shareholding Pattern
Board of Directors and Shareholding Pattern 1 Chairman and Vice Chairman & Non-Executive Mr. Bharat Dhirajlal Shah Mr. R.B. Raheja Independent Director Director Managing Director & Mr. Gautam Chatterjee Mr. Subir Chakraborty Deputy Managing Director Chief Executive Officer Director – Finance & Chief
Slide 12: Subsidiaries
Subsidiaries 1 Indian EIL’s share a Exide Life Insurance Company Limited 100% b Chloride Power Systems & Solutions Limited 100% c Chloride Metals Limited 100% d Exide Leclanche Energy Private Limited 74.99% e Chloride International Limited 100% Foreign EIL’s share a Chloride Batteries S.E. Asia Pte
Slide 13: Exide Leadership
Exide Leadership 1 Managing Director and Chief Executive Officer Mr. Gautam Chatterjee Director-Finance and Deputy Managing Director Chief Financial Officer Mr. Subir Chakraborty Mr. A.K. Mukherjee Director Automotive President Industrial Mr. Arun Mittal Mr. Avik Roy 13
Slide 14: Overview of Business Verticals and Enablers
Overview of “Business Verticals” and “Enablers” 1 Business Verticals Automotive, Industrial, Submarine Enablers Technology, Manufacturing, Brand, Human Resources 14
Slide 15: Overview of Business Verticals and Enablers
Overview of “Business Verticals” and “Enablers” 1 Business Verticals Automotive, Industrial, Submarine Enablers Technology, Manufacturing, Brand, Human Resources 15
Slide 16: Exide is the market leader in Automotive Battery market
Exide is the market leader in Automotive Battery market 1 Exide is the market leader in all Automotive application in domestic market 4-Wheeler 3-Wheeler Wide range: 3 Ah for two wheelers to 200 Ah for HCVs Wide choice of Warranty period: 12 months to 77 months (flat + pro-rata) Strong Inter
Slide 17: Exide wins in market by building trust with OEM customers
Exide wins in market by building trust with OEM customers 1 We offer the best to our customers We serve them all … 4W State of the Art Global Technology Installed capacity at multiple locations to cater to OEM plant locations 3W JIT supply to accommodate fluctuations in OEM demand 2W PAN India deale
Slide 18: OEMs have relied on Exide for their major launches
OEM’s have relied on Exide for their major launches 1 Some of the Major Launches of 2019 and Upcoming Launches where Exide has 100% share New OEMs in India such as Morris Garages and Kia Motors have relied on Exide Batteries Hyundai trusted on Exide Kia Seltos MG Hector Batteries for launching ‘
Slide 19: Overview of Business Verticals and Enablers
Overview of “Business Verticals” and “Enablers” 1 Business Verticals Automotive, Industrial, Submarine Enablers Technology, Manufacturing, Brand, Human Resources 19
Slide 20: Exide is a reliable storage power solution provider to Industry
Exide is a reliable storage power solution provider to Industry 1 Power Exports Solar Exide is the market leader in all Industrial applications except Telecom Industrial Lead Acid Batteries ranging from applications 7 Ah to 3200 Ah for wide range Traction of applications Railways Strong I
Slide 21: Overview of Business Verticals and Enablers
Overview of “Business Verticals” and “Enablers” 1 Business Verticals Automotive, Industrial, Submarine Enablers Technology, Manufacturing, Brand, Human Resources 21
Slide 22: Shoring up defence for India with our Submarine batteries
Shoring up defence for India and other countries with our Submarine 1 batteries Exide Industries Limited is the only Company in South/South East Asia with capacity for bulk manufacturing of Submarine Batteries Exide manufactures Batteries for different classes of Submarines of German, French and Rus
Slide 23: Highly Critical and Specialised Batteries used in Submarines
Highly Critical and Specialised Batteries—used as the Only Power 1 Source in Submarines Each cell has electrical capacity of more than 20,000 Ah—compared to Automotive Battery capacity of 3 to 200 Ah Manufactured & supplied as a full set of Battery - with total weight of up to 300 ton/each Battery s
Slide 24: Overview of Business Verticals and Enablers
Overview of “Business Verticals” and “Enablers” 1 Business Verticals Automotive, Industrial, Submarine Enablers Technology, Manufacturing, Brand, Human Resources 24
Slide 25: Overview of Business Verticals and Enablers
Overview of “Business Verticals” and “Enablers” 1 Business Verticals Automotive, Industrial, Submarine Enablers Technology, Manufacturing, Brand, Human Resources 25
Slide 26: Our R&D prowess
Our R&D prowess 1 Exide R&D Centre, Kolkata International collaborators Estd. 1976 Hitachi, Ltd. Japan The Furukawa Battery Co. Ltd. Japan East Penn Manufacturing Co., Inc. USA Moura, Brazil Recognised by DSIR, Ministry of Science and Technology, GoI since 1977 Ecoult, Australia Image courtesy: Saty
Slide 27: Overview of Business Verticals and Enablers
Overview of “Business Verticals” and “Enablers” 1 Business Verticals Automotive, Industrial, Submarine Enablers Technology, Manufacturing, Brand, Human Resources 27
Slide 28: Plants at multiple strategic locations across the country
Plants at multiple strategic locations across the country 1 Bawal Hardwar & Roorkee MC battery plant Home UPS manufacturing Ahmednagar Shamnagar MC battery plant First Exide plant Auto & Industrial batteries CML, Haldia Taloja Haldia Auto battery (SF) One of the largest integrated battery CML, Marka
Slide 29: Overview of Business Verticals and Enablers
Overview of “Business Verticals” and “Enablers” 1 Business Verticals Automotive, Industrial, Submarine Enablers Technology, Manufacturing, Brand, Human Resources 29
Slide 30: Transformation of our Brand positioning
“Transformation” of our Brand positioning 1 India moves on 100 YEARS OLD YOUNG Captured Size and From being just a “BIG Brand” to being a Dominating Omnipresence of a 100 Year Old brand “RELEVANT Brand” From “making a brand statement” to “Engaging in Conversation” RE-BUILD RE-KINDLE RE-ENERG
Slide 31: A new Brand Identity for Exide
A new Brand Identity for Exide 1 A NEW IDIOM CAPTURING THE NEW ETHOS … 31
Slide 32: An Articulation of our Belief
1 An “Articulation” of our “Belief” We do not just sell a battery We enable millions of Consumers, Partners and Employees to DRIVE AHEAD A Reflection of today’s Consumer Self-Driven to MOVE AHEAD and ACHIEVE their dreams 32
Slide 33: Enabling the fulfilment of the drive
Enabling the fulfilment of the drive 1 A New Brand Personality Contemporary Energetic Positive Refreshing Active 33
Slide 34: Overview of Business Verticals and Enablers
Overview of “Business Verticals” and “Enablers” 1 Business Verticals Automotive, Industrial, Submarine Enablers Technology, Manufacturing, Brand, Human Resources 34
Slide 35: What Drives our People
What Drives our People 1 Our Culture Traditional yet Warm Our Fundamental Value Dignity and Respect Our Talent Philosophy Ordinary People performing Extra-ordinary feats Our Strength Employees’ unshakable Pride & Trust in the Organization Our Workplace An extended Home Our Work Ethics Revolves aroun
Slide 36: What drives our performance
What drives our performance 1 Secured environment gives Informal Cross-vertical Strong Execution High stability of Leadership Impetus to Employees Relationships that Enables Orientation that Ensures Team that Safeguard to Work without Speed of Action Obsession for Results Long-term Values Concern 36
Slide 37: We are nurturing our talent base and developing future leaders
We are nurturing our talent base and developing future leaders 1 Partner With Customer & Stake Holder Develop & Empower Team Manage By Process & Facts Exide leadership Innovate & Lead Change behaviour Promote Cross Functional Collaboration Inspire Excellence Treat Others With Respect &
Slide 38: DNA of Exide employees
DNA of Exide employees 1 People see things; and they ask “WHY?” But, I dream things that never were; and ask “WHY NOT?” - George Bernard Shaw 38
Slide 39: Agenda
Agenda 1 1. Exide Overview 2. Market Leadership in a Challenging Environment 3. Making Exide ‘Future Proof’ 4. Robust Financial Health 5. Benchmarking with Competition 6. Way Forward 39
Slide 40: Agenda
Agenda 1 1. Exide Overview 2. Market Leadership in a Challenging Environment 3. Making Exide ‘Future Proof’ 4. Robust Financial Health 5. Benchmarking with Competition 6. Way Forward 40
Slide 41: Market Leadership across verticals in Domestic market
Market Leadership across verticals in Domestic market 1 In terms of Revenue Share, Exide is the leader in most application areas of Lead Acid Batteries … Automotive Industrial Others OEM - 4 Wheeler Power Submarine Solar OEM - 2 Wheeler Railways Trade - 4 Wheeler Telecom * Market Leader No. 2 Trade
Slide 42: Unparalleled physical and online presence
Unparalleled physical and online presence 1 Physical presence Online presence 1,750+ 1,500+ 48,000+ Exide Care SF Sonic- Total Dealers ECP+DD1 Dealers 2 1. ECP: Elite Channel Partner, DD: Direct Dealers 2. Includes Direct & Indirect Dealers 42
Slide 43: We don't just sell Batteries, we sell Uptime
We don’t just sell “Batteries”, we sell “Uptime” 1 Service infrastructure highlights Emergency on-road service Service Centers: 170 Batmobile Vehicles: 170+ Humsafar Vehicles: 100+ EMERGENCY HELPLINE 1800-103-5454 Battery Emergency Service Technicians: 1,300+ Helpline through Exide Care mobile appli
Slide 44: Exide has maintained 60% share in Automotive OEM market
Exide has maintained 60% share in Automotive OEM market 1 Decline in Automotive Production YTD Jan-20 (compared to YTD Jan-19) Share of OEM Business (2019-20) 4-W & 3-W 2-W -5% -13% -13% Exide ~ 60% 65% -26% PV CV 3-W 2-W Slowdown in the automotive production and In these difficult times of the
Slide 45: When it comes to Replacement, Exide is the preferred option
When it comes to “Replacement”, Exide is the preferred option 1 Automotive Battery Replacement market is Replacement Market Size shifting towards organised 37.4 Mn nos. ~40% of the replacement market is unorganised 19.2 Share gain expected from the unorganised sector because of govt. policies (G
Slide 46: Exide leads in the competitive Inverter Battery market
Exide leads in the competitive Inverter Battery market 1 Inverter Battery Inverter market is here to stay Replacement Market Size # for foreseeable future Mn nos. Although adequate power generation capacity 5 exists, Discoms are unable to buy required power Rural power remains an issue: In multi
Slide 47: Exports have grown steadily, strong future expected
Exports have grown steadily, strong future expected 1 Strong traction in Exports over last few years Strong growth expected in future Revenue (INR cr) Share of revenue (%) Our Exports Division has long standing 1,000 6.4% 8 relationships with international B2B 4.8% 4.7% 6 customers 500 4 Our Bat
Slide 48: Agenda
Agenda 1 1. Exide Overview 2. Market Leadership in a Challenging Environment 3. Making Exide ‘Future Proof’ 4. Robust Financial Health 5. Benchmarking with Competition 6. Way Forward 48
Slide 49: Agenda
Agenda 1 1. Exide Overview 2. Market Leadership in a Challenging Environment 3. Making Exide ‘Future Proof’ 4. Robust Financial Health 5. Benchmarking with Competition 6. Way Forward 49
Slide 50: The CASE of Disruption in Automotive Industry
The “CASE” of Disruption in Automotive Industry 1 Connected cars will require higher auxiliary power C for “Connected” Exide has products for connected cars—we have 100% share of business with Hyundai Venue, MG Hector, Kia Seltos Automated car is still a distant concept for Indian market A for
Slide 51: Exide is an Early Mover in Li-ion Battery manufacturing in India
Exide is an “Early Mover” in Li-ion Battery manufacturing in India 1 51
Slide 52: Exide has formed JV with Leclanche, Switzerland
Exide has formed JV with Leclanche, Switzerland 1 Prantij, Gujarat 74.99% • 56,680 sq. mtr factory of Nexcharge. 25.01% • 60 Km from Ahmedabad 52
Slide 53: Nexcharge has state of the art manufacturing facility
Nexcharge has state of the art manufacturing facility 1 Key features Developed in Switzerland with key controls on Safety and Process Flexible to handle different variants of cell All Stations supervised with MES Control 53
Slide 54: Strong potential for Li-ion batteries in India, policy clarity required
There is strong potential for Li-ion batteries in India, but clarity on 1 government policy required for demand visibility While India has the potential to be ~ 25 GWh market by 2025, present visibility of demand is only 2.3 GWh per year under FAME Scheme till 2021-22 Estimated EV Battery Demand (GW
Slide 55: Draft government policy
Draft government policy 1 Draft central subsidy policy under discussion Government is keen to Key Disbursement Criteria grow EVs, however Allocation of 50 GWh Capacity final Policy is yet to be announced Rs 700 Cr. Total Subsidy Outgo Minimum capacity of beneficiary plants needs to be 5 GW
Slide 56: Product variations—Li-ion battery
Product variations—Li-ion battery 1 Lithium-ion Battery Chemistry Type Design Type Cathode Chemistry Anode Chemistry • NCA – Nickel Cobalt Aluminum • Graphite • Cylindrical • NCM – Nickel Cobalt Manganese • Lithium Titanate (LTO) • Prismatic (5:3:2, 6:2:2, 8:1:1) • Pouch • Silicon/Carbon • LiFePO4 –
Slide 57: Li-ion battery production capacity to 2025
Li-ion battery production capacity to 2025 1 Estimated global Li-ion battery production capacity 200 155 160 Capacity (GWh) 115 120 105 100 90 88 90 80 60 60 60 50 34 32 35 40 32 30 10 16 8 0 2020 2025 Source: Frost & Sullivan 57
Slide 58: Li-ion cell manufacturing—Scale is a critical factor
Li-ion cell manufacturing—“Scale” is a critical factor for 1 competitiveness Minimum scale of 5 GWh (over time) critical to be competitive in Cell Manufacturing ~8% Raw Material Procurement Cost Advantage 2-3% Manufacturing Process Efficiency Global consolidation in Cell Manufacturing – Share
Slide 59: Successful cell manufacturing is contingent upon four factors
Successful cell manufacturing is primarily contingent upon four 1 factors 1 3 2 4 Demand at Scale OEM Partnership Favourable Policy Tech Leadership Scale helps to achieve cost Strategic Partnerships or competitiveness Clear Government Policies Captive Demand to bring Being technology intensive in Ce
Slide 60: Key sector with Li-ion battery demand
Key sector with Li-ion battery demand 1 Markets targeted Size expected in (early adopters) 2022 (in MWh) Rationale for targeting market Govt extending support to ~7,000 e-buses through FAME II Buses 500 2 major OEMs have entered market and outsourced battery modules and packs 20+ OEMs have st
Slide 61: Growth potential exists across battery technologies
Growth potential exists across battery technologies—the 1 “matured” as well as “young and emerging” Lithium Ion Battery Young with significant potential pportuni Matured but still growing Lead Acid Battery 61
Slide 62: We supply Lead Acid Batteries to EV manufacturers as well
We supply Lead Acid Batteries to EV manufactures as well 1 EVs require Lead Acid Battery for auxiliary application— demand of LAB will not dampen even with high EV penetration Exide is a major supplier of LAB to EV manufacturers in India. Strong pipeline of business: We are LAB supplier to EV
Slide 63: Lead Acid Battery market will continue to grow
Lead Acid Battery market will continue to grow in years to come 1 Overall Automotive Industry has grown at ~7% CAGR in last 5 years Somewhat slowdown in recent years seen in line with overall economy Going forward following will be drivers of the Automotive battery sales: Economic recovery lea
Slide 64: Agenda
Agenda 1 1. Exide Overview 2. Market Leadership in a Challenging Environment 3. Making Exide ‘Future Proof’ 4. Robust Financial Health 5. Benchmarking with Competition 6. Way Forward 64
Slide 65: Agenda
Agenda 1 1. Exide Overview 2. Market Leadership in a Challenging Environment 3. Making Exide ‘Future Proof’ 4. Robust Financial Health 5. Benchmarking with Competition 6. Way Forward 65
Slide 66: Exide posting robust financial performance, year on year
Exide posting robust financial performance, year on year 1 FY16-FY19 9M FY19 – 9M FY20 Revenue EBITDA Revenue and EBITDA (INR MN) (INR MN) (INR MN) 16% Revenue EBITDA 105,883 14,113 [VALU [VALU 91,862 12,408 E] E] 75,835 10,261 10,825 68,477 10,381 10,948 FY16 FY17 FY18 FY19 FY16 FY17 FY18 FY19 9M-F
Slide 67: Agenda
Agenda 1 1. Exide Overview 2. Market Leadership in a Challenging Environment 3. Making Exide ‘Future Proof’ 4. Robust Financial Health 5. Benchmarking with Competition 6. Way Forward 67
Slide 68: Agenda
Agenda 1 1. Exide Overview 2. Market Leadership in a Challenging Environment 3. Making Exide ‘Future Proof’ 4. Robust Financial Health 5. Benchmarking with Competition 6. Way Forward 68
Slide 69: Why is EIL's EBITDA margin lower than Competition?
Why is EIL’s EBITDA margin lower than Competition ? 1 EBITDA margin* Year EIL Nearest Competitor 2018-19 13.3% 14.0% Material cost: EIL’s cost as per cent of revenue is 2.5% lower Employee cost: EIL’s cost as per cent of revenue is 1% higher Covers ~90% of the costs till EBITDA Warranty Costs: EIL’s
Slide 70: Significant competitive advantage in raw material already exists
Significant competitive advantage in raw material already exists 1 Will sustain Cost leadership through Increased Backward integration: 100% subsidiary Chloride Metals Ltd (CML) supplying recycled lead CML increasing capacity ~2X by April 2020 Other levers of competitiveness: Diversified Suppl
Slide 71: Dealing with Legacy on Employee costs
Dealing with Legacy on Employee costs 1 Reasons for high cost Factories started in 1946, 1969, 1981, 1997 … and so on … Average Employee Age 40 years Strong labour unions with 3-year Agreement Cycles Multiple plant locations 9 Factory Locations of Exide – leads to higher overheads and other co
Slide 72: Reducing cost through improving employee productivity
Reducing cost through improving employee productivity 1 Latest automated plants have been imported from USA (using EPM technology) and Japan (using Hitachi technology) Long Term Wage Agreement duration: Increased from 3 Years to 5 Years Sales Optimisation Programs and Training for frontline Sa
Slide 73: Warranty cost is a reality given our customer base
Warranty cost is a reality given our customer base 1 Reasons for high warranty cost Large presence in Abusive Application Segments with higher Warranty EIL is Market Leader in Inverter Batteries which have significantly higher Warranty % compared to 4-wheeler Batteries due to very challenging appl
Slide 74: Power & fuel optimisation measures already underway
Power & fuel optimisation measures already underway with good 1 results Exide power cost marginally higher due to locations of plants Tariff in Maharashtra, where we have 3 plants, are much more than other states Multiple cost reduction measures already taken … Rooftop Solar Panel Installation E
Slide 75: Why is EBITDA% Lower Than Competition?
Why is EBITDA% Lower Than Competition ? 1 OEM Share Significantly higher OEM Share in overall revenue as compared to Competition. Lower Margin OEM in Mix therefor leads to lesser EBITDA% Employee cost Higher average age of employees, factories in higher wage regions, retail distribution model Le
Slide 76: Reason for EIL's revenue de-growth in 2019-20
We are ahead of Competition in terms of revenue growth 1 Overall Revenue growth YoY Years EIL Nearest Competitor 2017-18 21.1% 14.0% 2018-19 15.3% 12.1% 2019-20 (YTD Dec) -2.4% 0.6% In last few years EIL’s revenue growth surpassed Competition EIL’s revenue growth in the last couple of years (2017-
Slide 77: Ahead of Competition in revenue and domestic market share growth
We are ahead of Competition in terms of revenue and domestic market 1 share growth over last three years Overall Revenue growth YoY Years EIL Nearest Competitor 2017-18 21.1% 14.0% 2018-19 15.3% 12.1% 2019-20 (YTD Dec) 2.4% 0.6% EIL has performed better in the Domestic Revenue growth YoY domestic ma
Slide 78: Agenda
Agenda 1 1. Exide Overview 2. Market Leadership in a Challenging Environment 3. Making Exide ‘Future Proof’ 4. Robust Financial Health 5. Benchmarking with Competition 6. Way Forward 78
Slide 79: Agenda
Agenda 1 1. Exide Overview 2. Market Leadership in a Challenging Environment 3. Making Exide ‘Future Proof’ 4. Robust Financial Health 5. Benchmarking with Competition 6. Way Forward 79
Slide 80: Strategies
Strategies 1 OEM Hold on to existing Shares of Business with Conventional Batteries As conversion to EFB starts, increase Share of Business After Market Take a greater share of the Pie as Unorganised Market gets merged into the Organised Market Focus on high margin products Exports Aggress
Slide 81: Strategies
Strategies 1 Industrial Hold on to our Dominant Market Shares in UPS, Traction (Forklift Truck Batteries), Power, Projects and Solar in Domestic Market. Increase our share in Telecom New Business Work with Indian OEMs in EV Space, both in LiB and LAB Leverage our Extensive Premium Dealer Netwo
Slide 82: Strategies
Strategies 1 Technology Advanced Lead Acid chemistries for emerging applications Developing optimal solutions for energy storage business Preferred partner to EV manufacturers Revenue target: Above the market growth rate EBITDA target: Recent EBIDTA margin(%) growth trajectory to continue 82
Slide 83: We remain COMMITTED to Society
We remain COMMITTED to Society 1 Project Jyotirmay - Employee Volunteering at a Patient's Ambulance donated to ‘Little Sister of the school in Kolkata Poor’, an old age home Public Sanitation facility built at Chinchwad Exide Heals on Wheels 83
Slide 84: We remain COMMITTED to Environment
We remain COMMITTED to Environment 1 Hosur Haldia Chinchwad Taloja 84
Slide 85: A Hundred Years hence
A Hundred Years hence … 1 A hundred years hence Who it is With such curiosity Reads my poems A hundred years hence! Shall I be able to send you An iota of joy of this fresh spring morning The flower that blooms today The songs that the birds sing The glow of today’s setting sun Filled with my feelin
Slide 86: THANK YOU!
1 THANK YOU! Investor Contact Exide House 59 E, Chowringhee Road, Kolkata - 700 020 Phone: +91 33 2302 3400, 2283 2118/50/71 Fax: +91 33 2283 2637 E-mail: cosec@exide.co.in Contact Person: Ms. Seema Bajaj/Ms. Atreyee Mukherjee 86
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