Exide Industries Limited (EIL) announced a change in Key Managerial Personnel (KMP) at its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL), and a further equity investment in EESL. Mr. Mandar V Deo has resigned as the Managing Director & Chief Executive Officer (MD & CEO) of EESL, effective December 22, 2025. Following this, the Nomination & Remuneration Committee (NRC) and the Board of Directors (BOD) of EIL recommended the appointment of Mr. Pravin Ramchandra Saraf, currently an Executive Director at EIL, as the new MD & CEO of EESL. The Board of Directors of EESL formally accepted Mr. Deo's resignation and approved Mr. Saraf's appointment with immediate effect on December 22, 2025. In a separate development on December 23, 2025, EIL has invested ₹1,80,00,00,000 (Rupees One hundred and eighty crore only) by subscribing to the equity share capital of EESL on a rights basis. This brings EIL's total investment in EESL to ₹4,202.23 crore. The shareholding percentage of EIL in EESL remains unchanged at 100% following this investment. EESL is engaged in the manufacturing and selling of lithium-ion battery cells, modules, and packs for India's electric vehicle market and stationary applications. The investment is intended to fund EESL's greenfield plant project in Bengaluru and meet its other funding requirements.