Income Tax department conducts survey at Exide Industries

The Income Tax Department is conducting a survey at Exide Industries' offices and manufacturing units, the battery maker said on Thursday.

Exide said it is cooperating with authorities and that the move has not had any material impact on its business operations.

"Currently, there is no material impact on the business operations of the Company due to the aforesaid action. In the event there is any further material update that requires intimation under the SEBI Listing Regulations, the Company will make necessary disclosures in accordance with Regulatory provisions."


The company, which was scheduled to release its second-quarter results on Thursday, has postponed its board meeting and will announce a new date later, it said.

The company's shares, which fell as much as 1.8% after the news, were last down 0.5%.