Exide Industries Ltd. - Annual Report 2021

GIXIDI

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Ref no.: EIL/SEC/2021-22/11

Date: 29[th ] Apri I, 2021

ate: 29thApri I, 2021
The Secretary The Calcutta Stock Exchange Limit 7 Lyons Range Kolkata - 700 00 I CSE Scrip Code: 15060 & 10015060 The Secretary National Stock Exchange of India L Exchange Plaza, 5th Floor, Plot no. C/1, G Block Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051 NSE Symbol: EXIDEIND	ed		The Secretary BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai - 400 001 BSE Scrip Code: 500086
	imited		~~-~~

Dear Sir/Madam,

Sub: Outcome of Board meeting held on 29[th ] April 2021

The Board of Directors at its meeting held today i.e. Thursday, 29[th ] April 2021, inter alia, has taken the following decisions -

Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 - ("Listing Regulations") Audited Financial Results for the year ended 31[st ] March, 2021

I. The Standalone and Consolidated audited financial results for the quarter and year ended 31st March, 2021 was duly approved and taken on record by the Board of Directors. The said results were reviewed by the Audit Committee of directors at its meeting held prior to the board meeting. The copy of the Auditors' Report (Standalone & Consolidated) on the said financial results are also enclosed.

Pursuant to Regulation 33(3)( d) of the Listing Regulations, 2015, as amended, we do hereby Mis B S R & Co. LLP have not confirm that the Statutory auditors of the Company, expressed any modified opinion(s) in its audit report pertaining to the audited financial results for the year ended 31st March, 2021.

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Exide Industries Limited, Exide House, 59E Chowringhee Road, Kolkata-700 020 Phone: (033) 2302-3400, Fax: (033) 2283-2642/37 e-mail : [email protected],www.exideindustries.com CIN: L31402WB1947PLC014919

&EXIDE

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Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 ("Listing Regulations")

The Board of Directors noted the retirement of Mr. Gautam Chatte1jee as "Managing Director & Chief Executive Officer" (MD & CEO) of the Company w.e.f. close of business hours of 30[th ] April 2021.

Mr. Gautam Chatterjee (DIN: 00012306), a veteran in the Company for last 39 years was re appointed as MD & CEO of the Company for 2 years from P[1 ] May 2019 till 30[th ] April 2021. Consequent to his term coming to an end on 30[th ] April 2021, he wou Id cease to be MD & CEO as well as member of Board of Directors of the Company with effect from 1[st ] May 2021.

The Board of Directors expressed sincere appreciation for the invaluable contribution and exemplary services rendered by Mr. Chatterjee during his long association with the Company. He has been appointed as "Whole-time Advisor" to the Board of the Company with effect from 1st May 2021 for a period of three years.

Based on the recommendation of the Nomination and Remuneration Committee (NRC) and subject to approval of the Shareholders of the Company, the Board of Directors have approved the elevation and appointment of Mr. Subir Chakraborty (DIN 00130864) as Managing Director and Chief Executive Officer for a period of three (3) years from. 1[st ] May 2021 till 30[th ] April 2024.

Mr. Chakraborty was appointed as "Deputy Managing Director" (DMD) of the Company since P[1 ] May 2019. He joined the services of the Company in 1996 and is serving as a Director on the Board for last 8 years. He has held several senior level positions in the Company including heading and supervising critical functions like automotive, industrial and submarine.

Mr. Subir Chakraborty is a mechanical engineer from IIT, Madras and PGDM from IIM, Calcutta. He has vast experience in marketing, sales, projects and general management. Prior to joining the Company in 1996, Mr. Chakraborty was the Chief Executive Officer of MSA (India) Ltd.

He is not related inter-se to any director of the Company and is not debarred from holding the office of director by virtue of any SEBI order or any other such authority.

Based on the recommendation of the Nomination and Remuneration Committee (NRC), Mr. A vik Kumar Roy (DIN: 08456036) has been appointed as Additional Director from I[st ] May 2021 to hold such office up to the date of next Annual General Meeting of the Company. Subject to approval of the Shareholders of the Company, Mr. Roy is further appointed as a

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O IXIDI

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Whole-time Director, designated as Director-Industrial, for a period of five (5) years from 1st May 2021 till 30 th April 2026 and would be liable to retire by rotation. He will be responsible for overall Industrial division of the Company.

Mr. Roy currently designated as "President- Industrial" is in-charge of Industrial division of the Company. Prior to joining the Company in 2019, he was "Vice President & Business Unit Head" in Siemens Limited, India. Mr. Roy has worked in International management assignments as Director-Strategy in Siemens AG, Germany as well as Director of Siemens Energy in Bangladesh.

Mr. Avik Kumar Roy holds a Bachelor of Electrical Engineering degree from Jabalpur University, Kolkata and has completed his EMBA from Asian Institute of Management, Manila. Mr. Roy comes with more than 31 years of work experience in reputed multinational organisations with management assignments in multiple countries and locations.

He is not related inter-se to any director of the Company and is not debarred from holding the office of director by virtue of any SEBI order or any other such authority.

The copy of Press release being issued in this regard is also enclosed herewith.

The Board meeting commenced at 2.00 PM and concluded at 3.20 PM.

This is for your information and record.

Kindly acknowledge receipt.

Thanking you.

Yours faithfully, For Exide Industries Limited

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Jitendra Kumar Company Secretary and President (Legal & Corporate Affairs) ACS No.11159

Encl:

results Audited Standalone and Consolidated financial
Auditors Report (Standalone & Consolidated)
Advance Press release

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BS R & Co. LLP

Chartered Accountants

Unit No. 603, 6[111 ] Floor, Tower 1 Plot No. 6, Block- DP, Godrej Waterside, Sector V, Salt Lake, Kolkata - 700091

Telephone: +91 33 4035 4200 Fax: +91 33 4035 4295

INDEPENDENT AUDITORS' REPORT

TO THE BOARD OF DIRECTORS OF EXIDE INDUSTRIES LIMITED

Report on the audit ofthe Standalone Annual Financial Results

Opinion

We have audited the accompanying standalone annual financial results of Exide Industries Limited (hereinafter referred to as the "Company") for the year ended 31 March 2021 (' standalone annual financial results'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements), Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best of our infonnation and according to the explanations given to us, the aforesaid standalone annual financial results:

a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended 31 March 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our opinion on the standalone annual :financial results.

Principal Offioa:

14th Floor, Central a WTn[g ] and North CWin[g] , Nesco IT Park 4, Nesco Cantflr, Western &press J,,igl'lway, Gmegaon iEastl. Mumbei-400063

BS R & Co. la (a Limited U-abillty Partnership with LLP Registration No. AAS.-B181J wfth etfect from October 14, 2013[p] artnershi[p ] firm with Re[g] istration No, BA61223[) ] convettad into BS R & Co. LLP

BS R & Co. LLP

Management's and Board of Directors' Responsibilities for the Standalone Annual Financial Results

These standalone annual financial results have been prepared on the basis of the standalone annual financial statements.

The Company's Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual financial results that give a true and fair view of the net profit/ loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone annual financial results, the Management and the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is responsible for overseeing the Company's financial reporting process

Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone annual financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the standalone annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override ofintemal control.

BS R & Co. LLP

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone financial results made by the Management and Board of Directors.
Conclude on the appropriateness of the Management and Board of Directors use ofthe going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the standalone annual financial results, including the disclosures, and whether the standalone a n ual financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

The standalone annual financial results include the results for the quarter ended 31 March 2021 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current fmancial year which were subject to limited review by us.

For B SR& Co. LLP Chartered Accountants Firm's Registration Number: 101248W /W-100022

JAYANTA

MUKHOPADHYAY

Digitally signed by JA YANT A MUKHOPADHYAY

Date: 2021.04.29 15:07:13 +05'30'

Jayanta Mukhopadhyay Partner

Place: Kolkata Membership Number: 055757 Date: 29 April 2021 UDIN: 21055757AAAABD8213

rxm•: INDISRJS lMm l;llY flls:, :9�:.cuOWINGU�:t ROAJ>, KQf,K,\A - 70020 C ; L142WBl947PL0J◄919

AUDITED STANDALONE FINANCIAL RESULTS FOR THI!: QUARTER AND YEAR ENDED 31 MARCH 1021

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Particulas I. Income a Revenue from oprations b, Oler income Total i■co1 e 2, txease a Cost of materals consumed b Purhaes of stok in te c (Incr )/ dere� in inVtori offnished goods, wrk in progress ad stock in ltde d Emploee benefiis expns e Finace coss f Dpreciation and amorisation exnses g Othr expnses Total upn,c 3. lrofl belor exceptlonot Item ■nd IH 4. Excep1iol item s. Proft berore tu 6.Tax expenses - Current - Defered -Total 7. Nelpront alter tu 8. Other tmprehell!ive lneome i llems that wilt not b �laifed to Sttemenl of prft or loss ii. Income tax relating_to_items that will not be rla ifed to Statement of proft or loss Tot■I other romprclensive inceme 9. Tot■I comprehen,ive Income 10.Paid up euit shar capital ( face value Re I ) ll.Other equity 12.Eain£ oer shar( Baic & Dilute)	3Mols 3 Monlhs ende ended 3l Ma,2021 31 D, 2020 (Audited) (Unaudite) Rs. Crores Rs. Crore Refenote3 2,938.84 2,80!.00 23.53 2010 2,2.37 2,811.10 2,275.14 1,997,78 3.34 1.78 (347.83) (204.01) 184.69 206.42 8.49 7.59 97,41 95.25 41116 396.27 2,62.40 2,01.07 319.97 320.03 . .9.97 320.03 84.72 88.99 1.13 (10.40) 85.85 78.59 244.12 241 .. (2.78) 9.94 0.21 (l.97) (2.57) *1.91* 241.55 249.41 85,00 8500 Rs.2.87, Rs. 2.84 I		3Monlri end J I M, 2020 (Audite) Rs. Crore Refer nole3 2,0Sf09 1686 2,71.95 1,520.74 2.53 (252.96) 158,32 3.69 93.86 356.23 1,881.41 189.SC . 10.54 4636 (2U2) 21.5 1'.0 (lo.68) 237 (8.31) 159.69 85.00 t. 1.9	I		Yer eded JI Mar, 2021 (Audile) Rs. Crores	Year ended 31 Mac.2020 (Audite) Rs Crores
						10,040.84 65.44 10,10.28 6,S27.61 7.46 44.44 *121.52* 23.77 *319.JS* 1,384.23 9, 1,017.90 1,017.9 285.78 (26.16) 159.62 758.11 10.45 (1.33) 9,12 767.40 85.00 6,808.SI Rs. 8.92	9,856.66 6394 9,920.60 6,519.80 6.17 (259.58) 666.40 9.40 362.63 1,558.89 8,863,71 1,056.89 (21 70) 1,0)5.19 280,92 (71.24) 109,68 825,51 (22,63) 4.RS (17.78) 807.73 85.00 6.211.11 Rs. 9.71

H Not annualised

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EXiDE JNDUSlE! .lMITED t;xmE HOUSE. 59E,CHOWII NGHn: BQt\P. KOUS,\TA -700020 CIN; Ll 401WBl947Pl£014919

STANDALONE STATEMENT OF ASSETS AND LIABJLITlt:S

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Pariculas A.ASSETS I. Non-urrnl usls a Propert, plant 8d euipment b. Capital work-in-progess c lnvelmcnt proper d ln18nglble t S e. Financial a ets i. Investmets ii Trade �eivables iii. Loas f Curren! la a ets (nt} g. Other non-urent , es Total - Non-currt asst 2. Current aueb a. Inventories b. financial a ts i. In vestments ii. Trade receivables iii. Cah and cah equivaents iv Bak balaces other than (iii) above v. Loans vi Other financial a ets c. Other cumnt a ets Total• Current u&et TOTAL- ASSETS B, EQUITY AND UABILIIES Equity Equity shre capital Other equit Total - Equily I, Non-current llabilllies a Finacial liabilities i. Lea liabilities ii Tade payable Total oulStanding dues of micr ad ,mall enterrises Total outstanding due of creditors other tan micr and small enteiprises iii. Other fnacial liabilitie b Provisions c. Deferd ta liabilities (net) Total• Non-current libllltles l. Current liabilities a. Finacial liabilites i Lease liabilites ii Trade payables Total outstading dues of micro and sall ente!Jri' Totl outslanding due of creditors other tha micro and small enterrses iii. Other fnancial liabilities b Other curent liabilities c Provisions Total - Curnt liabilitie TOTAL- EQUITY AND LIABll,fflES	As al 31 Mh.2021 {Auditd) R.Crr 2,601.79 200.15 33.77 36.06 2,116,09 0,08 23,6 SI.OS 110.65 5,133.88 2.346.19 882.S4 887.37 32.54 8.81 14,65 38.50 13.29 4394.89 9,618.77 85.00 6,808.1 6,S?J,51 279.29 6.64 J,75 53.68 77.05 42411 6,23 132.65 1,508.96 221.35 174.9l l70.73 2,314.$5 9,628,77	Aal 3 l Msch.2020 (Audilod) Rs. Cr
		2,302,9 296.88 3423 36.47 Z,052.07 0.10 17.19 64.72 98.00
		4,90.5
		2,192.27 18.73 815.30 144.87 9,72 14.98 24,66 118.97 3,331.50 8,242.0
	8.81 14,65 38.50 13.29
	4394.89
	9,618.77 85.00 6,808.1 6,S?J,51 279.29 6.64 J,75 53.68 77.05 42411 6,23 132.65 1,508.96 221.35 174.9l l70.73 2,314.$5 9,628,77
		85.00 6,211 II 6,296.11 27.39 - 5.74 2.95 63.78 101,86
		201.71
		0.61 71 J6 958.96 275.41 141.49 296.42 J,74U5 8,242.08
ii Trade payables Total outstading dues of micro and sall ente!Jri' Totl outslanding due of creditors other tha micro and small enterrses iii. Other fnancial liabilities b Other curent liabilities c Provisions Total - Curnt liabilitie TOTAL- EQUITY AND LIABll,fflES

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EXIDE INDUSTRIES t.lMITf,;D t:xm►: IIOIISt;. u�;.cuowRJNGHEE ROAD. KOl.KATA -7000ZO CIN' J.311QlWR1947PLC01◄9J9

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STANDAWNE STATEMENT OFCASll FLOW

EXIDE INDUSTRIES t.lMITf,;D t:xm►: IIOIISt;. u�;.cuowRJNGHEE ROAD. KOl.KATA -7000ZO CIN' J.311QlWR1947PLC01◄9J9 STANDAWNE STATEMENT OFCASll FLOW
Particulrus	Year to dale 31 March.2021 (Aud(lcd)	Yoar to dale 3 I Man:h.2020 (Audited)
	Rs. Crorcs	Rs. Crores
(A)CASI! FLOW FROM OPERATING ACTIVITIES: N�t Profit Before Tax Adjustn1en1 for: flcptc.:iatiun and amol1isation l.D:,, on property, plant and equipment sold/discarded (net)	1,017.90 379lS 015	l,035.19 362.63 2.07
Dividend income	(3S.25)	(37.15)
Rent income lntt1C$1 income Gain on rair value of investmenrs designated at FVTPL Finance costs Prov1s10n for expected credit loss written otil{back} Opcnling prorit befon, working capilll ,hangn (lni;l'Cll$eYdccreasc in ltade reuivablcs (lncrca.-.e)in inventories (lncmucYdccn:ase in loons, other financial.,,set,and other a.sets lncrcasel(d�crl!USl:) in other financial liabilities. other liabilities and provisions <.:uh 1e11era1ed from operatfons Dir..;I laxes paid (nel of refunds and interest thereon) Ntt c .. h rrom operatfog adivill•• (6)CASH FLOW FROM lNVESTINGACTIVfHES: Purchase and construction of property, plant and equipment ( including intangible as ets) Proceeds from sale of property, plant and "'!uipmenl Acquisition of investment property lnveslinents in subsidiaries lnvestmenlll in as ciaJes Acquisition of invosunenl in sha�onits Redemption of inveslment in shares/ units Purchase of inveslincnt in mutual fund units Sale of investmeot in mutual fund units	(2.33) (0.98) - 23.77 (1.06) 1,381.05 (70.98) (153 91) (18.67) 547.98 1,685.47 (272.08) 1,413.J� (339.39) J.02 (0.25) (106.35) - (10.67) 3,54 (2,J45 00) 1,480.00	(2.17) (5.73) (0,42) 9.40 14.74 l,37M6 251.08 (38831) *99.09* (177.37) 1,163.0$ (249.42) 913,63 (465.98) 1.41 (18.09) (84.60) (23.36) (14 37) 4.27 (1,535.00) 1,77000
lntere.,t recei� Rent ...ceived	0.98 2 83	0 94 2.17
Dividend received Net cash u1ed In lnveo!lng ac«ivllles (CJCASH FLOW FROM FINANCING ACTIVITIES: Dividends paid (including tax) Payment 1owards lease liabilicy Interest paid Ne! Cash U.9ed in linanci■g actwilis Net incrcascl(decreBSe) in cash and cash equivalents {A •B tC) Ca.sh and cash equivolenls - opening balance CHh ind ush equiwlents • closim, Ito lance	36.42 (1,276.87) (170.00) (24.40) (4.45) (191.85) (62.ll) 144.87 81.M	37.74 1324.87) (498.61) (3.03) (6.9S) (SOl.59) 80.17 64,70 144.87
Noteo;

I The Company's operaling segmcnls have been aggregated as a single opera. ing segm nt of "Stocage Batteries and A!lied Product'. Hence, no sepa,llle segment infonnation is disclosed

2. Revenue from Opeiations is net of trade diso uni. I llade incentives

3. The figures for quarters ended Mar�h 31, 2021 and March 31, 2020 are the balancing figures between audited figures in respect of the full fioancial year and the published year to date figures upto the end of the third qu..rer of the rele"" t finan�ial year. The published YTD figures upto the end of 3rd quarter of the relcl'al t Onancial year wen: subject to Limited Review.

4. The Company has considered the possible risk that may resull from the pandemic relatiog to COVJD.19 and expects IO recover the canying amount of all ils -Is including inventories, receivables, investments and other financial and non-financial as ts in the ordinary course of business based on the iolemal and external infonnalion available upto the date of approval oflhcse tinancial resulls. The Company is continuously monitoring any material changes in future economic ronditions.

The Board has declared in<erim dividend for lhe year 2020-21 of Rs.2.00 per share (200% on lhe face value of Re. I/- each) (previous year 4 IO%) at the Board meeting held on January 29, 2021 and paid during the q-ended March 31,2021

6 l'he aforementioned results were reviewed by the Audit Committee and approved by !he Board of Directors at !lleir respective meetings held on April 29, 202 L

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----- Start of picture text -----

By order of the Board
�
Koltata Gaullllll Ch11 1erJc•
April 29, 2021. Managi g Director & Chief Executive Olfocer
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BS R & Co. LLP Chartered Accountants

Unit No. 603, 6[th ] Floor, Tower 1 Plot No. 6, Block- DP, Godrej Waterside, Sector V, Salt Lake, Kolkata - 700091

Telephone: +91 33 4035 4200 Fax: +91 33 4035 4295

INDEPENDENT AUDITORS' REPORT

TO THE BOARD OF DIRECTORS OF EXIDE INDUSTRIES LIMITED

Report on the audit of the Consolidated Annual Financial Results

Opinion

We have audited the accompanying consolidated annual financial results of Exide Industries Limited (hereinafter referred to as the "Holding Company") and its subsidiaries (Holding Company and its subsidiaries together referred to as "the Group") and its associates for the year ended 31 March 2021 ('consolidated annual financial results), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements), Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate audited financial statements of the subsidiaries and associates, the aforesaid consolidated a ual financial results:

a. include the annual financial results of the following entities:

Subsidiaries:

a. Chloride International Limited
b. Chloride Power Systems & Solutions Limited
c. Chloride Metals Limited
d. Exide Leclanche Energy Private Limited e. Exide Life Insurance Company Limited
f. Chloride Batteries S.E. Asia Pte Limited and it's wholly owned subsidiary [Exide Batteries (Pvt) Limited]
g. Espex Batteries Limited h. Associated Battery Manufacturers (Ceylon) Limited

Associates:

1. CSE Solar Sunpark Maharashtra Private Limited

j. CSE Solar Sunpark Tamilnadu Private Limited k. Greenyana Solar Private Limited
b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
c. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of consolidated net profit and other comprehensive income and other financial information of the Group for the year ended 31 March 2021.

P1incipal Office:

141'1 Floar. Ceotral 8 Wing 8fld Nortn C Wing, Nesco IT Park 4. N5csco - Center, Western Express Highm,y, Goregaon 1East), Mumbai 400063

BS R & Co. {,;1 partnership firm with Registfation No, 0A612'23) r;:anverted 1nto BS R & Co. LLP (a Limited Liability Partnership with LLP Aeijistratlon No. MB.8181) with effect from October 14, 2013

BS R & Co. LLP

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results section of our report. We are independent of the Group and its associates in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us along with the consideration of audit reports of the other auditors referred to in sub paragraph (a) of the "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.

Emphasis of Matter

The auditors of Exide Life Insurance Company Limited ("ELI"), a subsidiary, have reported that attention is drawn to Note 4 of the accompanying consolidated a n ual financial results, which explains uncertainties and the Management's assessment of the financial impact including valuation of assets, liabilities and solvency due to the lockdown and the other restrictions imposed by the Government and conditions related to the COVID-19 pandemic situation, for which a definitive assessment of the impact is highly dependent upon circumstances as they evolve in the subsequent period.

Our opinion is not modified in respect of the above matter.

Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial Results

These consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements.

The Holding Company's Management and the Board of Directors are responsible for the preparation and presentation of these consolidated annual financial results that give a true and fair view of the consolidated net profit/ loss and other comprehensive income and other financial information of the Group including its associates in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and Board of Directors of the companies included in the Group and of its associates are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated annual financial results that give a true and fair view and

are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated annual financial results by the Management and the Directors of the Holding Company, as aforesaid.

BS R & Co. LLP

In preparing the consolidated annual financial results, the Management and the respective Board of Directors of the companies included in the Group and of its associates are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its associates is responsible for overseeing the financial reporting process of each company.

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated annual financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the consolidated annual financial results, whether due to fraud or error, design and perfonn audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of consolidated financial statements on whether the company has adequate internal financial controls with reference to the consolidated financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated financial results made by the Management and Board of Directors.
Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and its associates to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the consolidated a ual financial results, including the disclosures, and whether the consolidated annual fmancial results represent the underlying transactions and events in a manner that achieves fair presentation.

BS R & Co. LLP

Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group and its associates to express an opinion on the consolidated annual financial results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors. For the other entities included in the consolidated annual financial results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in para (a) of the section titled "Other Matters" in this audit report.

We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated annual financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also performed procedures in accordance with the circular No CIR/CFD/CMDl/44/2019 issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Other Matters

(a) The consolidated annual financial results include the audited financial results of 7 subsidiaries, whose financial statements reflect total assets (before consolidation adjustments) of Rs. 20,516.09 Crores as at 31 March 2021, total revenue (before consolidation adjustments) of Rs. 7,187.21 Crores, total net profit after tax (before consolidation adjustments) of Rs. 71.31 Crores, total comprehensive income of Rs. 231.64 crores and net cash inflows of Rs. 72.17 Crores for the year ended on that date, as considered in the consolidated annual financial results, which have been audited by their respective independent auditors. The consolidated annual financial results also include the Group's share of net loss after tax of Rs. 0.83 crores for the year ended 31 March 2021, as considered in the consolidated annual financial results, in respect of3 associates, whose financial statements have been audited by their respective independent auditors. The independent auditors' reports on financial statements of these entities have been furnished to us by the management and our opinion on the consolidated annual financial results, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the report of such auditors and the procedures performed by us are as stated in paragraph above.

Certain of these subsidiaries are located outside India whose financial statements and other fmancial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been audited by other auditors under generally accepted auditing standards applicable in their respective countries. The Holding Company's management has converted the financial statements of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have audited these conversion adjustments made by the Holding Company's management. Our opinion, in so far as it relates to the balances and affairs of such subsidiaries located outside India is based on the report of such other auditors and the conversion adjustments prepared by the management of the Holding Company and audited by us.

BS R & Co. LLP

Our opinion on the consolidated annual financial results is not modified in respect of the above matter with respect to our reliance on the work done and the reports of the other auditors.

(b) The auditors of ELI have reported that the actuarial valuation ofliabilities for life policies in-force and policies where premium is discontinued but liability exists as at 31 March 2021 (which are disclosed as Insurance contract liabilities, investment contract liabilities and funds for discontinued policies under Non-current liabilities and current liabilities) is the responsibility of the EL I's Appointed Actuary (the "Appointed Actuary"). The actuarial valuation of these liabilities has been duly certified by the Appointed Actuary and in his opinion, the a umptions for such valuation are in accordance with the guidelines and norms issued by the Insurance Regulatory and Development Authority of India (the "IRDAJ") and the Institute of Actuaries of India in concurrence with the IRDAI. Accordingly, the auditors of ELI have relied upon the Appointed Actuary's certificate for forming their opinion on the valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists in the financial statements of ELL

Other adjustments for the purpose of preparation of the financial information, as confirmed by the Appointed Actuary in the Life Insurance business are in accordance with Ind AS 104 on Insurance Contracts:

i. Assessment of contractual liabilities based on classification of contracts into insurance contracts and investment contracts.
1. Grossing up and classification of the Reinsurance Asset

Our opinion is not modified in respect of the above matter.

(c) The consolidated annual financial results include the results for the quarter ended 31 March 2021 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

For B SR & Co. LLP Chartered Accountants

Finn's Registration Number: 101248W/W-100022

JAY ANT A Digitally signed by JAYANTA MUKHOPADHYAY MUKHOPADHYAY Date: 2021.04.2915:28:13 +OS

Place: Kolkata Date: 29 April 2021

Jayanta Mukhopadhyay Partner Membership Number: 055757 UDIN:21055757AAAABF6516

IXIDE tOUS S LIMITED EXlr IIOllS•: 5:(IQRINGIIEE ROD. KOLKTA-7 CIN, UJ4�ZWJ1 PL014919

AIJOffED CONSOLIDA U:D FINANCIAL RESULTS FOR THE QUAIITl!R AND \'I.AR J:NDl!D 31 MARCH 2021

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Paiculas t. ln,omo a. Rc'enue from opations b Othe incme Tot•l incme 2, E1pease a. Coll of mateals casued b. Puchases of Stock in 1ade c, (ln<ree) I de in invetre offinishe gds, wor n progss ad SCK in tade d. Employe bneft .. xpns e. Fimu1:e csts f. Dcpreia1ion and amorisation expeses g. Change in valuation of liablity of lire insl lCe plicie io fof h Oher ep Tot1l expnse 3. Pront bfore cs<eptonal 11,1, shin ohel glln(los) or Equliy Accounted lnv . tt 1d Tu Shae or gain/(loss) ofEqui' Accute Investe, net of ta ,. lroOI bror noepNonal 11cm and h• S,Eceptional item 6, Pronr befor 1 .. 1. Tn, cx1es - Current -�f -Tol1I 8. Nu prelt •R•r 1u 9. Olhtr tOpnhtsm: hcome i. Items that will not b rlassifed to St!acnl of proft or loss ii Incme ta rcl1ting 10 items that will Mt be rlai�e to Stle t o prof1 or loss tii Ites lat will boreclaife to pft or loss l'ol•I other compreh,ns!ve IDom• 10. 1'a11lCompnh•nslve ln<ome 11. ra,d •P eut share eopiu ( Face value Re. I ) 12. Other equit 13. Eini, 1 shm• I Baic & Dilulo J		3 Monl ende 31 Ma,2021 (Audite) Rs. Cro= RcfntJ		3 Monts ed 31 D, 2020 (Uaudite) R,Crres	3 Monts ed 31 D, 2020 (Uaudite) R,Crres	3 Monlls ede 31 Ma, 2020 (Audite) R Crre RcfrootoJ
	f	4,562.86 12.63 4, .49 2,281.39 4.ll (351,11) 289.19 31,SS 110.88 59.13 1,196.% 4,157.4' �IS0 0.16 418.16 . 418.16 8&,79 9.20 97.99 310.17 21.48 0.17 (116.86) (95.21) 224.96 85.00 Rs.3.79	4,196.53 25.S0 4,222.UJ 2,040.46 12.58 (220.24) 307.55 42.52 109.07 655.82 954.08 3,91.84 321.l' fl.08) ]19.11 ll9.ll 89.78 (10.54) 79.4 lJ'-87 7959 (1,98) 85,20 162.U 402.61 8S,0 N R.2.S4		#	3,474.68 8.01 J,48,69 1,516.61 17.81 (203,03) 273,97 13.65 107.88 19.,41 1,31356 3,260 !46.6 (0.19) !4.5 146,50 46.26 (35.33) 10,93 235.57 (1J8.99) 2,49 94.20 (41.30) l'l.J7 RS.00 Rs. 2.92
# Nor a ualised A. Pront fr 1h• yer ounbu!blc te: O f1ld C0y Non-entolling u..t 8. Othff Cfpreh�we hl for th yar ■ttrlbbb� lo: Oe of t• CD Nan-on.lling interests C. TO -apr1 lve hta: . , fGr te yqr •trlbt able to: Ownmofl• Co No<anto\n1 Mllr	321.87 241.4 (1.70) (1.S (95,21) 162.8 226.6 4. (1,701 11.5
				S 8) 1 26 8)		248.47 809.90 776.75 (12.90) (6.30) (14.27) (42.30) 171,13 85.82 - 20.17 9 0 862.57 [12,901 (6.80) (1417)

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EIDE INIIUiRfE l,ll lT I ~~Elpt HOUSE $2EHQAJl&1 ROD, KOLKT ~~•~~J9U~~ ~~CIN~~•~~Ll40WBl97fL!9]9~~
CONLIDATED STATEMT Of iSSETSAND UABILIll
Paiculas	As11 31 Mc.2021 (Audtd l.Crm	Aul 31 Mar200 (Awircd) ls.C
A. ASETS
l. Nonu t auttl a Prp, plan! 1d epment b Cspita wn -in-progr < Goowll d Oheintagble assets c. l1l1Kble asss udit"dcvelopct t: Rsurace . C, Fin1 1cia aCU i, lnvc s . ln"eet in Life lnslce busi - Ohet investent5 ii. Trade receivables iii Las h Cuentlex ossels (n<I) i. Defered l8X ossols (net) jOOonn,curent as,eu Tobi -Nad-Cr a:	2,970.19 379.47 SSl.90 46.66 51.48 271.20 17,70222 10.81 0.-K 51.17 54.97 9.94 211.os U,431.18	2620.0 1,72 531.9 46.60 +s 138.96 14,73678 e,.n 0 II 31.0 69,01 1610 221.Jl 18,97.64
l.Currmtaum a. Inventorie b. fin1cia a6ts i. lnvels - Investmet in lif insuace b�iness . Othtr tveunents ii Trade reeivables iii. Cash od cash equivlt s iv Bank balanc othe lllan (iii) abve v. loa vi. Oilie fuancial esss •· Otker c ossers Total • Cur•I u,ets	2,636.86 633.58 93.04 1,076.l 342,43 11.14 20.76 418.9, 212.97 6,5.9	2,414.5 918.21 76.79 1,00.83 331.47 10,13 22.87 )76.26 19 3 5,409.95
Total - Assets	2167.11	24.67."
B. EQUITY AND LIABILITIES
Equily Equil .hen cp;1a1	85.0	85.0
Other equity Non� cnlrollLng intest Tolal Equity I, Non-curret llabllllla a. Finacial liabilili . i. Bmowgs ii_ Les6 liabililiis iii Ttde p ble To1al outslading due of micro and smoll Ente s Total oulsli ding dues of creito other l<n mico Bd sma me ises iv. Other fnancial liabilitie b Prvisions c Insurce cntact lilbilities d. Inveet c tr&l liabilitie e O ta liabilities (net) r. Olher non-cum:t liabilities l) Fund fr di1conrinu pllcie (linked od oon,tinke) ii) Fud fr fluo apprnpation (linke ad non-linke) Tel11 • Non-<1r l IJ■bilile	7.18727 46.2 7,18.49 U.l8 )41.19 7.83 8.61 6),9 14577.63 *131.15* 8.10 164.2 393.94 16.81	6,382.32 �6.9 6.51◄.26 us 101.56 *5.14* 734 72.54 12,97.87 18S.4S 107.82 163.52 341.0 14,61.78
Curreol ll1bllllia
a. Finanoial liabilitie i. Borrwings il Lese liabilities iii. Tnde paables Tta1 ol«g dues of micro ad sma1l et Ttal ouitanding dus of ci!om ot tan mico an small entes iv. Oter fnacal liabilities b. Othe .urnt liabilitie c, Provision d, lnsuretc cntn11: liabiliti� e. lnvcstmet cntact liabilitie f. Cl lax liailitie (net) Tot■I -C-ft li1bUito	46,67 29.ll 287.46 2,086.21 )47.9 224.99 280.60 1,361.08 139.67 1.10 4.0.1	58.53 24.29 132,71 l,412.79 36.24 185.56 30.77 65.39 104.57 0,6J 351.55
TOTAL-EQUITY AND LIABIIJTIE	21687.11	u,67.

~~JXIE IDS!UF UMTE~~ D ~~& PE UQVF? 5HQWRJNGm;5 BQA, KP,KT • 10~~ CN: l,1401WBl97PI14919

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CONSOLIIMTEOS'TATI:MENT OFCo\Slt FLOW

Pmicu!on (A)CASH ILOW FOM OPERATING ACTMTIES: Net Pf Beln" Tax Aju2un1e1 fr Depriaton ad lris(on Net pr61 on sae of ivetment (loft) O pp. p1 t md euipmaI slddiscde (D) lnome fD Investet incluing divie1d ad inteest Finac OSIS lminnent loss of invetet Prvision for expcted cedit loss on r ivables Share of loss of Equit Acoounte Inve , net of ta (Gain)/1. on fir val1tion of fnancial assis Ch Blge in valUlin ofliabilit agoin! life plicies Optia1 prlt bfore workn1 uphl <bn&e (lncsease).deeoe in tnulo rvables (rncreas) in inventories (lnmasc)dec in loa&, ote fn1cJa wet ad othe wes Int(decrse) in other fnanci1l libiltti1s, oth Usbllities ad prvmons Ca•h gene1t fom oprtloPJ Dir:cl laes paid (net of refds ad interet !hern) Nel Caoh frm o]<.liogatdvt ()CASH FLOW FROM INVESTING ACIVIIES: Pun:he, and cmiUclion of prpr, pl and equipmet (inluding inlangil,I� Ol) Proces tom . 1eofprop. plant ad euipmel AcuJsidan ofiPt«f En a cia1c Purchase of invelt Prceds fom sale of invesenr Investmet inome (includklg dividend, Bd intem() Net mov.et in IMk depsits Nrt Cl!h us In tnvellng at1Mlt (CJCASH �LOW FROM FINANCING ACTIVITIES: Pces fm browinB• Repayl of bmwings Trsction with 11on<ntlling intrt Divicinds paid (includHI t) Pa)menl towads leae liabilities l01eres1paid Not Cash wed In f n•ncing ■ctMtlt N<1 I dr<} / inaeae in ch ond ash equivalents (A �Bt<:) Cash and mh equivalents •opning balance Cah and <ash euivalents• closing balace Elf"t of exchng rate chages CHh and eub tui .. lcot • Cloaln• Balaace		You lo dte JI Mob2021 (Audited) acrr 1.074,39 433.65 (1468<) 0.18 (J.118.95) 40.48 . 2.82 0.6 (461,22) 2,346.75 l,101.8 (lB.l6) (222,30) (179 71) I8.24
		139.89 (276,761 l,63.IJ

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lDE ID ~~UT LMD PPE IIQUSE5:CHQWBINCHEt ROD, Ki.KAA -7Q~~ <N• t.U0WBl947Pl,09'919

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Nota:

I. Revenue from opaalions io nel of trade disoounts f trade im:ooti.a,.

2, Segment Information

3 molls eded 31 Mah 2021 (Audite) RC< 3,018.14 1,S39.07 5.6S 4.,8 329,79 69,72 (l.49) 4110 12.63 12.49 41816	3 molls eded 31 Mah 2021 (Audite) RC< 3,018.14 1,S39.07 5.6S 4.,8 329,79 69,72 (l.49) 4110 12.63 12.49 41816	3 mt• ended 31 Dc,200 (Unaudted) R.e�, 2,886.!l 1,305.25 4.42 4,196.5 299.31 *S.9* 0.16 l�.◄◄ 2S.SO 11.83 Jl9.lt	3 mo> eded 31 March2020 (.c) R>, Crooe, 2,132.9 1,341.78 3,474.69 129.68 114.86 14.54 &.OJ *6.0* 24.S -	y. ed«! 3 I M>tch 2021 (Ao!ite) Rs.C=	Yutcdc 31 Morcb2020 (Audt) Ri.Cr(
				10,342.56 4,9 ◄6 16.87 l!.8 970.S6 76.09 (2.53) 1, 1 70.45 40.48 1,074.39 -	10, 162.2S 4,287.56 21.20 14,471.1 971.81 (IS.31) (1.47} 948.0 61,88 16.33 9J.5 fl.70)
418.16		Jl9.II	241.5	1,074.9	971.8

	7,290.21 18,244.66 21.53 3,124.71	6,675.03 17.S79.74 30.77 J,211.78	*6,565.52* 1.,563 28 14.86 2,l.93	7,290.21 18,2"4.6 27.Sl l.124.71	*6,565.52* J5,56J,28 14.86 2.223.93
	28,67.11 3,0.08 18,)21,44 IS.49 222.61 ll,6&6l	17,49',32 2,672.66 17,303.69 17.38 235.0 10,ll '	z6.59 2, 120.so 15,537.28 16.45 179,IO 11,",l3	28,7.11 3,0.08 11,121.4 15.49 222.61 ll.I	14,67.59 z.120.so 15,537,28 16.45 17.IO 17,33

The figures for quarters ended M8n:h JI. 2021 and Mon:h JI, 2020 are the balancing f[i] gure, bdween audited figures in respect oflho full finan<: •I l""J'and tbe published year to date figures uplo the end of lhs third qll811erof<hc rel..,ant finam;ial year Tho published YTD figures upto the end of 3rd qu1111er of the rel••ant tiowociol y""' wen: ,ul,ject to U111ited. Review.

Tho Group has assessed the impBOt ofCOV!D-1 g on the opernlions es well as the financial resulls of Exide 1.ife lnsunnce Company Limited (F.1.1), • snbsidia,y including bu1 not limilod to the.._ of �•loalion of invt:1 1cn1 mei,, 'JUlwllion of policy liabilities and ,olvency, fur 1be year c:ndfd Marclt 31. 2021, based on inpuJs currently available with EU. The oxtonlto whicb COVID-19 pandemic will affe<;t ELi's perfonw,nce particularly in the.,... of ,.,.,..uo, claims. conying valu• of invcstmmls, rolvoncy 11W1,.;n etc will depend on future developments. wlricb qre pre:;enUy llll(alain. The Group will continue to monitor any fiilure changes 10 the busines aru! financial results of ELI due lo COVID19
s, Apllft from the managon,c,,t'• "'""mcnt pcrtaio ng IO ELI as mte<I in note 4 above. lbe Group blS also oonsideled the pos ible li!!lc: thet may result from the: pondemic relating 10 COVID-19 fur the mnoin ng oomponents of the Group and ""Peet• to TC<10Y« the cam,ing amollnt of all its llS9elS including iovo:11 0lies, Rl:dvables, mves11nents and other ftnanclal and non-llnanc al in theonlina,y ooune businessbuedon lbe inlffl18l and extcmal information anilahle uplo lhcdatc of approval oftb=consolidfllcd fio11110ial n;sUII•. The Group ia continuously monitoring any mallllial changco in futwc cconmnic oo as- dition,.

6. The albrcmenhooed re.<ults wae r,:viewed by the Audit Comnu .e and appro,cd by the BoRid of Direclon at their respective moetiog.'! held on April 29. 2021

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Kolkata
April 29. 20'21
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Ay order nf Ihe Bovd � GaUl8m Chatterjee Managing Daecior & Chief faeculive Office<

GIXIDI

PRESS RELEASE

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EXIDE REPORTS 45% GROWTH FOR THE FOURTH QUARTER OF FY 2020 -21

Kolkata, April 29, 2021: Exide Industries Limited, on Thursday reported Net Turnover of Rs. 2,939 crores for the quarter ended March 31, 2021 as compared to Net Turnover Rs. 2,055 crores recorded during the quarter ended March 31, 2020, registering an impressive growth of 43%. Profit After Tax for the same quarter ended March 31, 2021, were higher at Rs. 244 crores, as against Profit After Tax of Rs. 168 crores for corresponding quarter ended March 31, 2020, with a growth of 45%.

For the year ended March 31, 2021, the net turnover was Rs. 10,041 crores as compared to Rs. 9,857 crores in the previous year. The Profit after Tax was Rs. 758 crores in the year ended March 31, 2021 compared to the Profit After Tax of Rs. 826 crores in the previous year.

Mr G Chatterjee, MD & CEO, commented that as a result of several strategies adopted by your Company , it bounced back very strongly in the second half of the year and was able to surpass the sales it had reported for 2019-20.

On the performance of the fourth quarter, Mr. Chatterjee said that the Company has posted impressive growth in both Automotive and Industrial division. The after market demand for both Automotive and UPS batteries remained strong.

The Company will focus on Sales Transformation and Cost Compression as the core strategies to improve the bottom-line.

Mr. Chatterjee further stated that the Board of Directors of Exide at its meeting held on 29[th ] April 2021 have approved following few key organization changes at the Board level.

Subject to the approval of the shareholders at the ensuing annual general meeting, approved the elevation of Mr. Subir Chakraborty, to the post of "Managing Director and CEO" for a period of three years from 1[st ] May 2021 till 30[th ] April 2024. Mr. Chakraborty was the "Deputy Managing Director" (DMD) of the Company since 1[st ] May 2019. He joined the services of the Company in 1996 and is serving as a Director in the Board for around 8 years.

The mantle of MD & CEO passes from current Managing Director and CEO, Mr. Gautam Chatterjee, a veteran in the Company for 39 years. He has been appointed as "Whole-time Advisor" to the Board of the Company with effect from 1[st ] May 2021 for a period of three years.

Exide Industries Limited, Exide House, 59E Chowringhee Road, Kolkata-700 020 Phone: (033) 2302-3400, Fax: (033} 2283-2642/37 e-mail : [email protected], www.exideindustries.com CIN: L31402WB1947PLC014919

, . . �· ,,.,,[.,] 'ii[... ] . . . • • ... . . . . .. . .. . . . , .. . �: ., . . . . � . .. .

&IXIDI

Subject to the approval of shareholders, Mr. Avik Kumar Roy is appointed as a Whole time Director on the Board of Exide for a period of five years, with effect from 1[st ] May 2021. Mr. Roy is serving the Company as President-Industrial since January 2019 and is now designated as "Director-Industrial". He will be responsible for overall Industrial division of the Company. Mr. Roy comes with more than 31 years of work experience in reputed multinational organisations with management assignments in multiple countries and locations.

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TR/�
<5'
/
. (._ �
G CHATTERJEE
Managing Director & Chief Exec er
Exide Industries Limited
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AI assistant

Exide Industries Ltd. Annual Report 2021

60960_rns_2021-04-29_197ef8b0-2c7d-4b5a-acda-125d4bd333e5.pdf

Ref no.: EIL/SEC/2021-22/11

Sub: Outcome of Board meeting held on 29[th ] April 2021

Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 ("Listing Regulations")

BS R & Co. LLP

Chartered Accountants

INDEPENDENT AUDITORS' REPORT

TO THE BOARD OF DIRECTORS OF EXIDE INDUSTRIES LIMITED

Report on the audit ofthe Standalone Annual Financial Results

Opinion

Basis for Opinion

Management's and Board of Directors' Responsibilities for the Standalone Annual Financial Results

Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results

Other Matters

JAYANTA

MUKHOPADHYAY

rxm•: INDISRJS lMm l;llY flls:, :9�:.cuOWINGU�:t ROAJ>, KQf,K,\A - 70020 C ; L142WBl947PL0J◄919

AUDITED STANDALONE FINANCIAL RESULTS FOR THI!: QUARTER AND YEAR ENDED 31 MARCH 1021

EXiDE JNDUSlE! .lMITED t;xmE HOUSE. 59E,CHOWII NGHn: BQt\P. KOUS,\TA -700020 CIN; Ll 401WBl947Pl£014919

EXIDE INDUSTRIES t.lMITf,;D t:xm►: IIOIISt;. u�;.cuowRJNGHEE ROAD. KOl.KATA -7000ZO CIN' J.311QlWR1947PLC01◄9J9

STANDAWNE STATEMENT OFCASll FLOW

INDEPENDENT AUDITORS' REPORT

TO THE BOARD OF DIRECTORS OF EXIDE INDUSTRIES LIMITED

Report on the audit of the Consolidated Annual Financial Results

Opinion

Subsidiaries:

Associates:

Basis for Opinion

Emphasis of Matter

Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial Results

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results

Other Matters

IXIDE tOUS S LIMITED EXlr IIOllS•: 5:(IQRINGIIEE ROD. KOLKTA-7 CIN, UJ4�ZWJ1 PL014919

EXIDE REPORTS 45% GROWTH FOR THE FOURTH QUARTER OF FY 2020 -21

&IXIDI

AI assistant

Exide Industries Ltd. — Annual Report 2021

60960_rns_2021-04-29_197ef8b0-2c7d-4b5a-acda-125d4bd333e5.pdf

Ref no.: EIL/SEC/2021-22/11

Sub: Outcome of Board meeting held on 29[th ] April 2021

Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 ("Listing Regulations")

BS R & Co. LLP

Chartered Accountants

INDEPENDENT AUDITORS' REPORT

TO THE BOARD OF DIRECTORS OF EXIDE INDUSTRIES LIMITED

Report on the audit ofthe Standalone Annual Financial Results

Opinion

Basis for Opinion

Management's and Board of Directors' Responsibilities for the Standalone Annual Financial Results

Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results

Other Matters

JAYANTA

MUKHOPADHYAY

~~rxm•: INDISRJS lMm~~ ~~l;llY flls:, :9�:.cuOWINGU�:t ROAJ>, KQf,K,\A~~ - ~~70020 C ; L142WBl947PL0J◄919~~

AUDITED STANDALONE FINANCIAL RESULTS FOR THI!: QUARTER AND YEAR ENDED 31 MARCH 1021

EXiDE JNDUSlE! .lMITED t;xmE HOUSE. 59E,CHOWII NGHn: BQt\P. KOUS,\TA -700020 CIN; Ll 401WBl947Pl£014919

EXIDE INDUSTRIES t.lMITf,;D t:xm►: IIOIISt;. u�;.cuowRJNGHEE ROAD. KOl.KATA -7000ZO CIN' J.311QlWR1947PLC01◄9J9

STANDAWNE STATEMENT OFCASll FLOW

INDEPENDENT AUDITORS' REPORT

TO THE BOARD OF DIRECTORS OF EXIDE INDUSTRIES LIMITED

Report on the audit of the Consolidated Annual Financial Results

Opinion

Subsidiaries:

Associates:

Basis for Opinion

Emphasis of Matter

Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial Results

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results

Other Matters

IXIDE tOUS S LIMITED EXlr IIOllS•: 5:(IQRINGIIEE ROD. KOLKTA-7 CIN, UJ4�ZWJ1 PL014919

EXIDE REPORTS 45% GROWTH FOR THE FOURTH QUARTER OF FY 2020 -21

&IXIDI

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Exide Industries Ltd. Annual Report 2021

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