We attended Exide Industries' (EXID) AGM, where management highlighted its initiatives on technologies like Bi-polar batteries and Ultra batteries, which would provide competitive advantage for the company. Management also revealed its FY19 capex plan of ~INR11b, of which INR8b would be incurred on capacity expansion. Further, EXID's FY18 annual report details the initiatives and the likely focus areas that could further strengthen its leadership.