Latest news with #AvikRoy
Time of India
2 days ago
- Business
- Time of India
Exide bets on innovation, expansion to boost exports
1 2 Kolkata: Storage battery major Exide Industries is focusing on innovation and expansion across geographies in a bid to enhance exports in the medium term. In the last fiscal, exports contributed around 8% to the company's turnover. "We have come out with a lot of innovative products targeted for exports which we have never done in the past," said Avik Roy, managing director and CEO, at the 78th annual general meeting. "We have entered new countries to make our business more resilient and distributed and not dependent on one or two geographies," Roy added. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata When a few shareholders asked the management its export expansion plans, Roy said, "In the medium-term your company aims to increase the share of export business and will actively take initiatives to achieve this objective." Roy said. The company said it has so far invested around Rs 3,700 crore in the first phase of the lithium-ion cell manufacturing project in Bengaluru. "We will probably invest another Rs 600-700 crore in this this we see that the requirement for the phase I of the 6 gigawatt hour will be met. At the end of this fiscal year we are likely to start the trial production commercially. We will see the utilisation of the 6 gigawatt hour factory, and then we will gradually plan for phase II," Roy said.
Mint
24-06-2025
- Automotive
- Mint
India's EV battery dream hits the great price wall of China
New Delhi: India's goal of creating an electric vehicle (EV) battery manufacturing ecosystem is facing a potential headwind: cheap batteries from China. Domestic manufacturers such as Amara Raja Energy Mobility Ltd and Exide Industries Ltd are worried that their own batteries, which are expected to roll out of factories between this fiscal and FY27, won't be able to match the prices of the Chinese. India-made batteries are expected to be 20-30% costlier than their Chinese counterparts due to heavy reliance on imports of raw materials, according to an industry executive working on cell supply chain at an electric two-wheeler company who spoke on condition of anonymity. Plus, analysts believe that a huge overcapacity of EV battery cells in China means aggressive pricing is here to stay. 'I think everybody would have observed that the pricing coming out of China right now is quite aggressive," Vikramadithya Gourineni, executive director for new energy business at Amara Raja Energy, told analysts in an earnings call on 30 May. 'The cell pricing, the energy storage system (ESS) pricing. So definitely, that's been on a downward trend." Also read | Telangana's Vahan gap: Centre eyes direct link for faster EV subsidies To be sure, India currently does not manufacture EV batteries–mostly lithium ion batteries are used in the country. All local EV makers import batteries–three fourths from Chinese companies such as CATL, BYD and EVE. The rest come from South Korean companies (such as LG, Samsung) and Japan (Panasonic). The Union government and private industry are working to change that. As per the Centre's stated targets, the country wants to domestically produce 100GWh of lithium ion batteries by 2030. India's lithium ion battery demand is expected to grow to 127 GWh by FY30 from 15GWh in FY24, per a November 2024 report by CareEdge ratings. However, the Chinese angle has got local battery makers asking for government support. 'Once the domestic manufacturing capacity of cells is in place, the government has to switch the priority to incentivizing local cell manufacturing," Exide Industries managing director and chief executive officer Avik Roy said on a call with analysts on 6 May after announcing the company's Q4 results. 'Otherwise, this industry will never grow in India." Read this | Tata Motors, JLR flag EV supply chain as a separate business risk. They don't name China, but its imprint is all over. Further, Amara Raja's Gourineni said that future investments, too, will depend on 'our confidence in being able to meet these (Chinese) prices". Amara Raja has earmarked more than ₹1,000 crore for investing in its lithium ion battery factory near Hyderabad, which is expected to begin production in FY27. Exide, which has already invested more than ₹1,000 crore so far for a gigafactory near Bengaluru, is also aiming to commercialize the production of lithium-ion cells within the current financial year. Other players who are making their own lithium ion cell gigafactories include Reliance Industries, Ola Electric, Tata's Agratas, andRajesh Exports, among others. Requests to these companies for comment remained unanswered till press time. Up against the Chinese Elara Capital's executive vice-president Jay Kale wrote in a 12 May note that overcapacity in cells in China will put pressure on battery prices in the medium term. 'Most cell makers are expanding capacities by +50%, which is a concern for profitability of the industry. That said, battery prices in China still remain 10-20% below that in the US and Europe," Kale wrote. 'We expect the gap to widen further as China continues to dominate the supply chain and global capacities are still miles away from China's." There are two types of battery chemistries in EV batteries, lithium iron phosphate (LFP) and Nickel Manganese Cobalt (NMC). Industry observers report that they have seen prices go below $50 per kilowatt hour in some cases from the recent average of $55KWh for lithium iron phosphate (LFP) batteries. NMC battery prices are still hovering around $60 KwH. Also read | India plans to offer grants, ease regulatory norms for rare earth processing amid China supply woes Several estimates suggest China controls about 80% of the world's lithium ion battery market. Plus, Chinese players do not have to rely on imports of raw material such as lithium to make the batteries, since it dominates lithium mining and processing globally with a market share of 80%, as per Organisation for Research on China and Asia. On the other hand, India currently doesn't have processing capacity for lithium, which means all the raw material has to be imported, too. In FY24, the country imported close to $3 billion of lithium, according to commerce ministry data. More than three-fourths of that came from China. What should India do? Given the dependence on imports of key raw materials, Harshvardhan Sharma, group head for auto tech and innovation at Nomura Research Institute Consulting & Solutions India, noted that Indian companies should not try to match any tactical pricing play from overseas. 'The focus should be on building a sustainable battery product, something not feasible at the extremely low price levels," Sharma said. 'Over time, we can expect market prices to adjust to more sustainable levels." Vikram Handa, managing director at battery material manufacturer Epsilon Advanced Material agreed that investment decisions in EV batteries is difficult, considering the low pricing and overcapacity of the Chinese. 'Investment into the technology has to be from the perspective of building domestic capacity, like how the US is doing," Handa toldMint. 'They are subsidising and asking players to build the capacity because it is a critical technology." Also read | Toyota Kirloskar Auto Parts becomes first component maker to get Auto PLI, says Ministry of Heavy Industries In 2021, the central government floated the ₹18,100-crore production linked incentive (PLI) scheme for building 50GWh capacity. However, no incentive in the scheme has been disbursed so far to three selected players–Ola Electric, Reliance Industries and Rajesh Exports–as they remain behind their set timelines of production due to various reasons, including sourcing of raw materials. However, Handa believes that India's current subsidy level of $12-13 kilowatt per hour is too low compared to the support by countries like the US, which provide $45 kilowatt per hour. Don't forget rare earths The risk of dependence on China comes at a time when the automobile industry is worried about the restrictions on export of rare earth magnets, which are needed in electric and internal combustion engine vehicles. About 90% of the world's processing capacity of such magnets is with China, which imposed new restrictions on the exports on 4 April. Under the new process, automobile companies are expected to submit applications with certificates that state that the component will not be used in a defence application. Indian battery makers do not have to face restrictions on lithium currently but the prospects of a future restriction on such exports also is raising the urgency of building domestic capacity. And read | Amara Raja's March quarter margin is an irritant. More trouble ahead?
Yahoo
17-06-2025
- Health
- Yahoo
Solve M.E. Selects Simmaron Research As Recipient of ME/CFS Catalyst Award to Accelerate Low-Dose Rapamycin Trial for ME/CFS, Long COVID, and IACCs
The Catalyst Award will expedite the hunt for a validated test-to-treat model for ME/CFS, a disease for which there is currently no FDA-approved treatment. LOS ANGELES, June 17, 2025 /PRNewswire/ -- Solve M.E. is proud to announce the second recipient of its 2025 ME/CFS Catalyst Award: Simmaron Research. Simmaron will receive targeted funding to accelerate their study, "Low Dose Rapamycin in ME/CFS, Long-COVID, and Other Infection Associated Chronic Conditions (NCT06257420)." The study hypothesizes that mTOR inhibition through rapamycin may address observed findings of autophagy impairment and symptoms in a subset of patients with ME/CFS and other infection-associated chronic conditions and illnesses (IACCIs). Solve M.E. is a national nonprofit dedicated to making ME/CFS, Long Covid, and associated conditions widely understood, diagnosable, and treatable. Solve invests in translational research essential to turning biological discoveries into real-world therapies. Simmaron is a non-profit research center dedicated to developing treatments for ME/CFS and Long Covid. Simmaron is focused on developing 1st-in-kind animal models, finding key treatable mechanisms, and defining subsets aimed at changing the lack of evidence-based treatments for patients. Leading its Catalyst Award-winning project will be Dr. C. Gunnar Gottschalk (Simmaron, PI and chief executive officer), Dr. David Kaufman (Center for Complex Diseases, founder), Dr. Stephanie Grach, MD (Mayo Clinic), and Dr. Avik Roy (Simmaron, chief scientific officer). The Solve ME/CFS Catalyst Awards are a focused initiative to ensure that promising research doesn't lose momentum—especially in the face of unpredictable federal funding cycles. These awards provide strategic support to help studies reach key milestones such as publication, translation to clinical application, or advancement to the next phase of investigation. Solve President and CEO Emily Taylor noted, "We are so proud to support this bold and rigorously designed study that not only builds on promising biological insights but also advances an already FDA-approved drug as a potential treatment. This is exactly the kind of patient-centered, translational science our community needs. Our Catalyst Award will enable Simmaron to enroll more participants and collect more samples from more time points, making real movement toward meaningful care." In 2022, Solve awarded Dr. Avik Roy a Ramsay Research Grant to study how symptoms of ME/CFS relate to problems with autophagy. Autophagy is the cellular process of clearing unwanted debris (like unnecessary proteins or damaged mitochondria). With Dr. Roy's Ramsay Research Grant funds, follow-up funds from the NIH, and substantial investment by Simmaron's private donors, the Simmaron team showed that a subset of people with ME/CFS have problems with muscle-cell autophagy and that these problems increase post-exertional malaise. They established animal models for studying autophagy and post-exertional malaise (PEM) in the context of ME/CFS and started a multicenter clinical trial to test whether they could repurpose the drug rapamycin (an FDA-approved drug that reverses problems with autophagy) for reducing post-exertional malaise and cognitive dysfunction in the subset of people with autophagy-related symptoms. Before announcing the Catalyst Award funding, Solve supported this trial by helping recruit participants. A key strength of the study is tracking autophagy biomarkers to determine if these markers will help predict patients most likely to respond to this treatment. Early results from almost 80 participants are highly encouraging—rapamycin treatment is significantly lowering fatigue, post-exertional malaise, orthostatic intolerance, and sleep issues for participants. Now, Solve is awarding the research team more funds to enroll more participants and to collect more samples from more time points. "This funding from Solve M.E. will help us continue enrollment in our ongoing expanded phase in collaboration with AgelessRx and cover the cost of study drug and safety labs in this decentralized study," noted Simmaron CEO Dr. C. Gunnar Gottschalk. "Our goal is to develop a predictive test to identify which patients are more likely to benefit from rapamycin or other mTOR-targeted therapies." Solve has a long history of funding innovative research projects in pursuit of treatments and cures for ME/CFS and associated conditions. Through its Ramsay Research Grant Program, Solve M.E. has supported nearly 100 early-career investigators with seed funding—yielding a 34x return on investment in follow-on grants and external funding. Now, with its Catalyst Award program, Solve is helping existing studies reach completion faster. The 2025 Catalyst Awards reflect Solve M.E.'s continued dedication to accelerating scientific breakthroughs, bridging research between ME/CFS and Long Covid, and delivering hope and impact to millions worldwide. Learn more about the Catalyst Award to Simmaron here. Solve will host Simmaron CEO Dr. C. Gunnar Gottschalk and Dr. Avik Roy (Simmaron, chief scientific officer) for a free webinar about their Catalyst Award-winning rapamycin study on Thursday, September 4th at 3 pm PT /6 pm ET. Register here. About Solve M.E.:The Solve ME/CFS Initiative (Solve M.E.) is a non-profit organization that serves as a catalyst for critical research into diagnostics, treatments, and cures for myalgic encephalomyelitis/chronic fatigue syndrome (ME/CFS), Long Covid, and other infection-associated chronic conditions and illnesses (IACCIs). Our work with the scientific, medical, and pharmaceutical communities, advocacy with government agencies, and alliances with patient groups around the world are laying the foundation for breakthroughs that can improve the lives of millions who suffer from various "long haul" diseases. For more information, visit About Simmaron Research:Simmaron Research is a 501c3 non-profit organization based in Incline Village, Nevada, with laboratory facilities at the University of Wisconsin Milwaukee. The foundation unites patients, doctors, and scientists in a quest for breakthroughs in ME/CFS, Long-Covid & neuroimmune disease. Simmaron drives treatment-focused research, identifying key treatable mechanisms and building groundbreaking animal models, all in a strategic effort to spur discovery and attract pharmaceutical investment in treatments. For more information, visit View original content to download multimedia: SOURCE Solve M.E. Sign in to access your portfolio
The Print
14-05-2025
- Business
- The Print
Exide aims at Rs 20,000 cr topline in 2-3 yrs
The battery maker also plans to invest Rs 1,600-1,700 crore in the current fiscal, covering both lithium-ion cell manufacturing and the lead-acid segment, an official said. Kolkata, May 13 (PTI) Exide Industries on Tuesday said it is targeting a revenue of Rs 20,000 crore over the next two to three years, banking on steady growth in its lead-acid battery business. 'Our business outlook remains strong. Over the next two to three years, revenue will touch Rs 20,000 crore from the current level of around Rs 16,500 crore,' Exide MD & CEO Avik Roy said. The projection is primarily based on the lead-acid battery business and does not include estimates from its upcoming lithium-ion cell manufacturing facility, which is expected to be operational in FY'26, he said. 'Cell manufacturing is a strategic foray, given the immense potential of EVs in the country, but we do not want to make revenue guess at this stage as they will depend on market adoption,' Roy said. The company expressed confidence in improved margins and cash flow going forward, after facing pressure in the March 2025 quarter due to high input costs. Antimony, a key raw material, witnessed an unprecedented price surge over the past year, impacting profitability, the company official said. 'Although we implemented a price hike of about 5 per cent to pass on the cost, there was a lag between cost escalation and pricing action. That created a hurdle, but things are now stabilising,' he added. PTI BSM BDC This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
13-05-2025
- Automotive
- Time of India
Exide eyes Rs 20k cr revenue from lead-acid battery biz in 2 yrs
1 2 3 Kolkata: Exide Industries is planning to increase its revenue from lead-acid battery business to around Rs 20,000 crore over the next couple of years from the current Rs 16,500 crore, with the outlook remaining strong."We are aiming to raise the company's revenue from the lead-acid business to Rs 20,000 crore in the next two to three years," Exide Industries MD & CEO Avik Roy said on Tuesday. At the end of the last financial year, the company's revenue from this business was around Rs 16,500 crore."As we enter FY26, the outlook for the lead-acid business remains positive across most business verticals. I believe that Exide, with its advanced product portfolio, pan-India distribution network and strong brand recall, will continue to benefit from the growth opportunities," Roy said during the company's Q4FY25 earnings call last to the company, domestic auto replacement demand was robust throughout the last financial year, while auto OEM demand, especially in the passenger vehicles segment, didn't see any meaningful uptick in demand. In reserve power, both industrial UPS and solar trade markets witnessed steady growth in demand, but the home-UPS market remained soft, with its demand expected to ramp up in the first quarter of this fiscal intends to commercialise the first phase of the lithium-ion cell manufacturing operations in Karnataka this fiscal year. In the first phase, it will set up a 6 gigawatt-hour lithium-ion cell manufacturing far, Exide has invested around Rs 3,600 crore in its wholly owned subsidiary Exide Energy Solutions (EESL). "We have the board approval to invest an additional Rs 1,200 crore in this financial year," Roy said.
