Exide Industries announces Pravin Ramchandra Saraf as the new Managing Director & CEO of its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL), effective December 22, 2025. This follows the resignation of Mandar V Deo. Additionally, Exide has invested ₹180 crore in EESL, bringing its total investment to ₹4,202.23 crore, with no change in shareholding percentage.
Leadership Change at Exide Energy Solutions
Pravin Ramchandra Saraf has been appointed as the new Managing Director (MD) & Chief Executive Officer (CEO) of Exide Energy Solutions Limited (EESL), a wholly-owned subsidiary of Exide Industries Limited (EIL), effective December 22, 2025. This appointment follows the resignation of Mandar V Deo from the same position on December 22, 2025. The Nomination & Remuneration Committee and the Board of Directors of Exide Industries approved the appointment.
Investment in Exide Energy Solutions Limited (EESL)
Exide Industries has invested an additional ₹180 crore in the equity share capital of EESL. This investment was made on December 23, 2025, via subscription on a rights basis. As a result of this latest infusion, the total investment by Exide Industries in EESL amounts to ₹4,202.23 crore. This latest investment maintains Exide Industries’ 100% shareholding in EESL.
Details of Exide Energy Solutions Limited
Exide Energy Solutions Limited (EESL) is involved in the manufacturing and selling of lithium-ion battery cells, modules, and packs. As of the current date, the paid-up equity share capital stands at ₹1,354.21 crore. Key financial details are:
* Net worth (as of March 31, 2025): ₹2,738.06 crore
* Turnover (as of March 31, 2025): ₹116.89 crore
* Loss after Tax (year ended March 31, 2025): ₹209.12 crore
EESL is currently in the process of setting up a greenfield plant in Bengaluru.
Source: BSE
