Exide Industries Q3FY08 Results

Exide Industries Ltd has announced the following Unaudited results for the quarter ended December 31, 2007:

The Company has posted a net profit after tax of Rs 551.60 million for the quarter ended December 31, 2007 as compared to Rs 348.50 million for the quarter ended December 31, 2006. Total Income has increased from Rs 4536.80 million for the quarter ended December 31, 2006 to Rs 7221.90 million for the quarter ended December 31, 2007.

Exide Industries record date for Rights issue

Exide Industries Ltd has informed that the Rights Issue Committee at its meeting held on November 30, 2007, has fixed December 17, 2007, as the Record Date for reckoning the eligible shareholders who are entitled to apply to the Rights Issue of the Company of 5,00,00,000 fully paid equity shares with a face value of Re 1/- each for cash at a premium of Rs 29/- per shares (i.e. at a price of Rs 30/- per share) aggregating Rs 150 crores in the ratio of 1 (One) fully paid equity share for every 15 (Fifteen) fully paid equity shares (i.e., 1:15) of Re 1/- each.

Exide Industries finalizes Tandon Metals acquisition

With reference to the earlier announcement dated October 04, 2007 regarding the Board of Directors of the Company had given their approval for investment in a Lead smelter upto Rs 25 crores, Exide Industries Ltd has informed that the Company has now finalized the acquisition of 100% shareholding in Tandon Metals Pvt Ltd, located near Pune, Maharashtra. This Company's core business is smelting of primary and secondary Lead. Tandon Metals Pvt Ltd is an unlisted Company.