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

Date: 29th Apri I, 2021

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

Dear Sir/Madam,

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

The Board of Directors at its meeting held today i.e. Thursday, 29th 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 31st 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 confirm that the Statutory auditors of the Company, Mis B S R & Co. LLP have not expressed any modified opinion(s) in its audit report pertaining to the audited financial results for the year ended 31st March, 2021.

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

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 30th April 2021.

Mr. Gautam Chatterjee (DIN: 00012306), a veteran in the Company for last 39 years was reappointed as MD & CEO of the Company for 2 years from P 1May 2019 till 30th April 2021. Consequent to his term coming to an end on 30th April 2021, he wou Id cease to be MD & CEO as well as member of Board of Directors of the Company with effect from 1st 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 30th April 2024.

Mr. Chakraborty was appointed as "Deputy Managing Director" (DMD) of the Company since P1May 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

Whole-time Director, designated as Director-Industrial, for a period of five (5) years from 1st May 2021 till 30th 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

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

Encl:

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

Chartered Accountants

Unit No. 603, 6111Floor, 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.

BS R & Co. la partnership firm with Registration No, BA61223) convettad into BS R & Co. LLP (a Limited U-abillty Partnership with LLP Registration No. AAS.-B181J wfth etfect from October 14, 2013 Principal Offioa:

14th Floor, Central a WTng and North CWing, Nesco IT Park 4, Nesco Cantflr, Western &press J,,igl'lway, Gmegaon iEastl. Mumbei-400063

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.

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 annual 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 Membership Number: 055757 UDIN: 21055757AAAABD8213

Place: Kolkata Date: 29 April 2021

$\tilde{\boldsymbol{\theta}}$

$\ddot{\phantom{a}}$

exide industries limitedExide house, $9e,Chowringhee road, kolkata - 700920 CIN: L31402WB1947PLC014919

AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH 2021

Particulars	3 Months		3 Months	3 Months	Year	Year
	ended		ended	ended	ended	ended
	31 Mar, 2021		31 Dec. 2020	31 Mar, 2020	31 Mar. 2021	31 Mar. 2020
	(Audited)		(Unaudited)	(Audited)	(Audited)	(Audited)
	Rs. Crores		Rs. Crores	Rs. Crores	Rs. Crores	Rs. Crores
	Refer note 3			Refer note 3
i. Income
a. Revenue from operations	2,938.84		2,801.00	2,055,09	10,040.84	9.856.66
b. Other income	23,53		2010	1686	65.44	6394
Total income	2,962.37		2,821.10	2,071.95	10,106.28	9,920.60
2. Expenses
a Cost of materials consumed	2.275.14		1,997.78	1,520.74	6,527.61	6.519.80
b. Purchases of stock in trade	3.34		1.78	2.53	7.46	6.17
c (Increase) / decrease in inventories of finished
goods, work in progress and stock in trade	(347.83)		(204.02)	(252.96)	44.44	(259.58)
d Employee benefits expense	184.69		206.42	158.32	721.52	666.40
e Finance costs	8.49		7.59	3.69	23.77	9.40
f. Depreciation and amortisation expenses	97.41		95.25	93.86	379.35	362.63
g Other expenses	41116		396.27	356.23	1.384.23	1,558.89
Total expenses	2,632.40		2,501.07	1,882.41	9,088.38	8,863.71
3. Profit before exceptional item and tax	329.97		320.03	189.54	1,017.90	1,056.89
4. Exceptional item					×.	(21.70)
S. Profit before tax	329.97		320.03	189.54	1,017.90	1,035.19
6. Tax expenses - Current	84.72		88.99	46 36	285.78	280,92
- Deferred	1.13		(10.40)	(24.82)	(26.16)	(71.24)
- Total	85.85		78,59	21.54	259.62	209,68
7. Net profit after tax	244.12		241.44	168.00	758.28	825.51
8. Other comprehensive income
i. Hems that will not be reclassified to Statement of profit or loss	(2.78)		9.94	(10.68)	10.45	(22.63)
ii. Income tax relating to items that will not be reclassified to Statement of profitor loss	0.21		(1.97)	237	(1.33)	4.85
Total other comprehensive income	(2.57)		7.97	(8.31)	9.12	(17.78)
9. Total comprehensive income	241.55		249.41	159.69	767.40	807.73
10. Paid up equity share capital	85.00		85 00	85.00	85.00	85.00
{ Face value Re 1 }
11. Other equity					6,808.51	6.211.11
12. Earnings per share (Basic & Diluted)	Rs. 2.87	₿	$Rs. 2.84$ #	Rs. 1.97	Rs. 8.92	Rs. 9.71

$#$ Not annualised

×,

EXÌDE INDUSTRIES LIMITEDEXIDE HOUSE, 59E CHOWRINGHEE ROAD, KOLKATA - 700020CIN : L31402WB1947PLC014919

STANDALONE STATEMENT OF ASSETS AND LIABILITIES

Particulars	As at	As at
	31 March, 2021	31 March.2020
	(Audited)	(Audited)
	Rs. Crores	Rs. Crores
A. ASSETS

I. Non-current assets
a Property, plant and equipment	2,601.79	2,302.92
b. Capital work-in-progress	200.75	296.88
c Investment property	33.77	34 23
d Intangible assets	36.06	36.47
e. Financial assets
i. Investments	2.176.09	2,052.07
ii. Trade receivables	0.08	0.10
iii. Loans	23.64	17.19
	$1.05
f. Current tax assets (net)		64.72
g. Other non-current assets	110.65	98.00
Total - Non-current assets	5,233.89	4,902.58
2. Current assets
a Inventories	2,346.19	2,192.27
b. Financial assets
i. Investments	882.54	18.73
ii. Trade receivables	887.37	815.30
iii. Cash and cash equivalents	82.54	144.87
iv Bank balances other than (iii) above	8.81	9.72
v. Loans	14.65	14.98
vi Other financial assets	38.50	24.66
c. Other current assets
Total - Current assets	134.29	118.97
TOTAL - ASSETS	4,394.89	3,339.50
	9,628.77	8,242.08
B. EQUITY AND LIABILITIES
Equity
Equity share capital	85.00	85.00
Other equity	6,808.51	6,211.11

Total - Equily1. Non-current liabilities	6,893,51	6,296.11

a Financial liabilities
i. Lease liabilities	279.29	27.39
ii Trade payables
Total outstanding dues of micro and small enterprises
Total outstanding dues of creditors other than micro and small
enterprises	6.54	5.74
iii. Other financial liabilities	3.75	2.95
b Provisions	53.68	63.78
c. Deferred tax liabilities (net)	77.05	101,86
Total - Non-current lisbilities	420,41	201.72
2. Current liabilities
a. Financial liabilities

i Lease liabilities	6.23	0.61
ii Trade payables
Total outstanding dues of micro and small enterprises	132.65	71 36
Total outstanding dues of creditors other than micro and small
enterprises	1,508.96	95896
iii. Other financial liabilities	221.35	275.41
b Other current liabilities	174.93	141.49
c Provisions	270.73	296.42
Total - Current liabilities	2,314.85	1,744.25
TOTAL - EQUITY AND LIABILITIES	9,628.77	8,242.08

EXIDE INDUSTRIES LIMITEDEXIDE HOUSE, 59F,CHOWRINGHEE ROAD, KOLKATA - 700920CIN : 1.31402WB1947PLC014919

STANDALONE STATEMENT OF CASH FLOW

Particulars	Year to date	Year to date
	31 March.2021	31 March.2020
	(Audited)	(Audited)
	Rs. Crores	Rs. Crores
(A) CASH FLOW FROM OPERATING ACTIVITIES:
Net Profit Before Tax	1,017.90	1.035.19
Adjustment for:
Depreciation and amortisation	379 35	362.63
Loss on property, plant and equipment sold/discarded (net)	0.15	2.07
Dividend income	(35, 25)	(37.15)
Rent income	(2.83)	(2.17)
Interest income	(0.98)	(5.73)
Gain on fair value of investments designated at FVTPL		(0, 42)
Finance costs	23.77	9.40
Provision for expected credit loss written off/(back)	(1,06)	14.74
Operating profit before working capital changes	1,381.05	1.378.56
(Increase)/decrease in trade receivables	(70.98)	251.08
(Increase) in inventories	(15391)	(38831)
(Increase)/decrease in loans, other financial assets and other assets	(18.67)	99.09
lacrease/(decrease) in other financial liabilities, other liabilities and provisions	547.98	(177.37)
Cash generated from operations	1,685.47	1,163.05
Direct taxes paid (net of refunds and interest thereon)	(272.08)	(249.42)
Net Cash from operating activities	1,413,39	913.63
(B) CASH FLOW FROM INVESTING ACTIVITIES:
Purchase and construction of property, plant and equipment (including	(339.39)	(465.98)
intangible assets)
Proceeds from sale of property, plant and equipment	102	1.41
Acquisition of investment property	(0.25)	(18.09)
Investments in subsidiaries	(106.35)	(84.60)
investments in associates		(23.36)
Acquisition of investment in shares/units	(10.67)	(1437)
Redemption of investment in shares / units	3.54	4.27
Purchase of investment in mutual fund units	(2,345,00)	(1,535.00)
Sale of investment in mutual fund units	1,480.00	1,770.00
Interest received	0.98	0 94
Rent received	283	2.17
Dividend received	36.42	37.74
Net Cash used in Investing activities	(1, 276.87)	(324, 87)
(C) CASH FLOW FROM FINANCING ACTIVITIES:
Dividends paid (including tax)	(170.00)	(498.61)
Payment towards lease liability	(24, 40)	(3.03)
Interest paid	(4.45)	(6.95)
Net Cash used in financing activities	(198.85)	(508.59)
Net increase/(decrease) in cash and cash equivalents $(A \cdot B \cdot C)$	(62.33)	80.17
Cash and cash equivalents - opening balance	144.87	64.70
Cash and cash equivalents - closing balance	82.54	144.87

Notes:

1 The Company's operating segments have been aggregated as a single operating segment of "Storage Batteries and Allied Product". Hence, no separate segment information is disclosed

Revenue from Operations is net of trade discounts / trade incentives

1. The figures for quarters ended March 31, 2021 and March 31, 2020 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of the third quarter of the relevant financial year. The published YTD figures upto the end of 3rd quarter of the relevant financial year were subject to Limited Review.
1. The Company has considered the possible risk that may result from the pandemic relating to COVID-19 and expects to recover the carrying amount of all its assets including inventories, receivables, investments and other financial and non-financial assets in the ordinary course of business based on the internal and external information available upto the date of approval of these financial results. The Company is continuously monitoring any material changes in future economic conditions.
5 The Board has declared interim dividend for the year 2020-21 of Rs.2.00 per share (200% on the face value of Re 1/- each) (previous year 410%) at the Board meeting held on January 29, 2021 and paid during the quarter ended March 31,2021
6 The aforementioned results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on April 29, 2021.

Kolkata April 29, 2021.

ISTRIE KOLKATA 700020 CWRINGH

By order of the Board

r Gautam Chatterjee

Managing Director & Chief Executive Officer

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