India's leading acid battery maker, Exide Industries Ltd has announced that it will be investing close to Rs. 400 crore in its core business which is battery.

But, the firm also said that it may be losing money on the life insurance business it will continue to stick to it.

Talking to the media on the sidelines of an AGM, Exide Managing Director and CEO TV Ramanathan said that for the current year Exide has put aside Rs. 400 crore for expanding its capacities on the battery front.

With this amount and with its plans properly executed an increase of 28 per cent on the four wheeler side and 70 per cent rise from two wheelers can be easily expected.

Out of the total, Rs. 80 crore will be injected into the Maharashtra facility which is expected to start working from August this year.

On the smelting front, it will be taking over more capacity through the usage of recycling of lead and plans to rise the share of the same from current 42 per cent to 70 per cent within 3 years.