Exide Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2023 • Lead Acid Storage Batteries: 99.8% • Others: 0.2%
AI Sector View
AI GENERATEDAutomobile and Auto Components
Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.
PROS
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 27.9% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.05x)
- Company comfortably covers its interest (10.7x coverage)
- Company has a consistent dividend-paying track record
CONS
- Company has a low return on equity of 6.5% over last 3 years
- Company has a low return on capital employed of 9.7%
- Company has delivered a poor profit growth of 3.2% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| EXIDEIND | 412.65 | 37.65 | 35075.25 | 0.48 | 351.30 | 27.94 | 5528.38 | 17.75 | 9.04 | 11.25 |
| HBLENGINE | 722.35 | 25.65 | 20023.18 | 0.42 | 109.14 | -23.86 | 638.03 | 6.03 | 58.30 | 22.72 |
| ARE&M | 814.05 | 16.16 | 14899.18 | 1.30 | 190.94 | 15.86 | 4214.54 | 23.92 | 15.73 | 9.63 |
| EVEREADY | 362.75 | 14.79 | 2636.73 | 0.69 | 36.97 | 22.30 | 407.71 | 8.97 | 23.95 | 15.01 |
| NIPPOBATRY | 320.20 | 0.00 | 240.15 | 1.17 | 2.01 | 96.10 | 116.14 | -2.76 | 35.63 | 0.11 |
| LAKHNNATNL | 262.85 | 45.79 | 197.14 | 0.74 | 1.66 | 97.26 | 63.52 | 9.49 | 6.16 | 4.07 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,245 | 4,372 | 3,980 | 4,173 | 4,436 | 4,450 | 4,017 | 4,335 | 4,695 | 4,365 | 4,201 | 4,735 | 5,528 | |
| 3,807 | 3,872 | 3,548 | 3,725 | 3,963 | 3,978 | 3,592 | 3,907 | 4,157 | 3,973 | 3,748 | 4,247 | 5,069 | |
| Operating Profit | 438 | 499 | 432 | 448 | 473 | 472 | 425 | 428 | 538 | 391 | 452 | 488 | 460 |
| OPM % | 10.32% | 11.42% | 10.85% | 10.74% | 10.67% | 10.61% | 10.57% | 9.87% | 11.47% | 8.97% | 10.76% | 10.32% | 8.31% |
| 22 | 37 | 25 | 5 | 16 | 40 | 13 | 44 | 28 | 54 | 5 | 4 | 27 | |
| Interest | 24 | 30 | 32 | 31 | 30 | 34 | 54 | 35 | 32 | 40 | 25 | 27 | 20 |
| Depreciation | 132 | 141 | 145 | 142 | 144 | 146 | 145 | 148 | 149 | 152 | 149 | 138 | 142 |
| Profit before Tax | 304 | 365 | 281 | 280 | 316 | 333 | 238 | 289 | 385 | 253 | 283 | 328 | 487 |
| Tax % | 26.39% | 26.06% | 27.77% | 33.85% | 30.16% | 29.75% | 33.45% | 35.16% | 28.69% | 31.47% | 31.17% | 33.78% | 27.87% |
| Net Profit | 0 | 0 | 0 | 0 | 221 | 233 | 158 | 188 | 275 | 174 | 195 | 217 | 351 |
| 2.62 | 3.16 | 2.36 | 2.17 | 2.59 | 2.72 | 1.84 | 2.20 | 3.21 | 2.02 | 2.29 | 2.53 | 4.12 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 11,179 | 12,808 | 14,721 | 14,471 | 10,359 | 12,789 | 15,078 | 16,770 | 17,238 | 17,995 | 18,829 | |
| 9,828 | 11,431 | 13,191 | 13,049 | 8,993 | 11,386 | 13,485 | 14,949 | 15,433 | 16,119 | 17,037 | |
| Operating Profit | 1,350 | 1,377 | 1,530 | 1,422 | 1,366 | 1,403 | 1,593 | 1,821 | 1,805 | 1,876 | 1,792 |
| OPM % | 12.08% | 10.75% | 10.39% | 9.82% | 13.19% | 10.97% | 10.57% | 10.86% | 10.47% | 10.42% | 9.52% |
| 126 | 53 | 180 | 76 | 62 | 62 | 125 | 90 | 113 | 90 | 90 | |
| Interest | 153 | 114 | 117 | 108 | 37 | 64 | 79 | 120 | 160 | 129 | 111 |
| Depreciation | 226 | 267 | 344 | 418 | 394 | 440 | 502 | 560 | 582 | 589 | 582 |
| Profit before Tax | 1,097 | 1,048 | 1,249 | 972 | 998 | 961 | 1,138 | 1,231 | 1,176 | 1,249 | 1,351 |
| Tax % | 26.72% | 33.76% | 32.16% | 21.55% | 26.52% | 27.72% | 27.67% | 28.29% | 31.93% | 31.14% | 30.67% |
| Net Profit | 804 | 694 | 847 | 762 | 733 | 694 | 823 | 883 | 800 | 860 | 937 |
| EPS | 9.42 | 8.13 | 9.95 | 9.14 | 9.53 | 51.38 | 9.68 | 10.31 | 9.35 | 10.05 | — |
| Dividend Payout % | 25.47% | 29.52% | 24.13% | 44.87% | 20.99% | 3.89% | 20.66% | 19.39% | 21.38% | 19.90% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 7%
- 5 Years:
- 12%
- 3 Years:
- 6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 2%
- 5 Years:
- 1%
- 3 Years:
- 1%
STOCK PRICE CAGR
- 10 Years:
- 8%
- 5 Years:
- 18%
- 3 Years:
- 16%
- 1 Year:
- -2%
RETURN ON EQUITY
- 10 Years:
- 10%
- 5 Years:
- 7%
- 3 Years:
- 7%
- Last Year:
- 6%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 |
| Minority Interest | 16 | 18 | 33 | 47 | 46 | 40 | 9 | 15 | 21 | 26 |
| 4,947 | 5,344 | 6,022 | 6,382 | 7,187 | 10,499 | 11,047 | 12,801 | 13,828 | 13,820 | |
| 10,086 | 11,166 | 12,768 | 14,483 | 16,470 | 526 | 665 | 1,156 | 2,036 | 1,543 | |
| Trade Payables | 1,216 | 1,519 | 1,577 | 1,606 | 2,374 | 1,846 | 1,856 | 2,708 | 3,345 | 3,676 |
| 1,415 | 1,682 | 1,946 | 1,748 | 2,515 | 849 | 987 | 1,362 | 2,074 | 1,929 | |
| Total Liabilities | 17,765 | 19,815 | 22,431 | 24,351 | 28,677 | 13,845 | 14,649 | 18,127 | 21,390 | 21,079 |
| 2,259 | 2,681 | 3,080 | 3,248 | 3,599 | 3,361 | 3,682 | 3,853 | 3,935 | 4,006 | |
| Capital Work in Progress | 146 | 237 | 265 | 361 | 379 | 322 | 335 | 1,165 | 3,426 | 3,938 |
| 11,884 | 12,490 | 14,328 | 15,816 | 18,807 | 5,558 | 5,106 | 5,940 | 6,468 | 6,131 | |
| 1,702 | 2,005 | 2,065 | 2,415 | 2,637 | 2,855 | 3,436 | 3,869 | 4,565 | 4,004 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,382 | 1,686 | 1,575 | |
| Cash & Bank | 324 | 317 | 350 | 342 | 354 | 199 | 140 | 331 | 188 | 258 |
| 1,450 | 2,084 | 2,343 | 2,171 | 2,902 | 1,549 | 1,949 | 1,588 | 1,121 | 1,167 | |
| Total Assets | 17,765 | 19,815 | 22,431 | 24,351 | 28,677 | 13,845 | 14,649 | 18,127 | 21,390 | 21,079 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1,229 | 1,281 | 2,075 | 1,880 | 1,609 | 1,010 | 1,098 | 1,533 | 1,273 | 2,413 | |
| Cash from Investing | -728 | -537 | -1,437 | -1,097 | -2,080 | 66 | -799 | -1,458 | -1,934 | -1,551 |
| Cash from Financing | -182 | -386 | -217 | -532 | -170 | -172 | -30 | 108 | 515 | -805 |
| 27 | -8 | 33 | -10 | 13 | -45 | -61 | 183 | -146 | 57 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - Exide Industries Limited has informed about Newspaper advertisement w.r.t transfer of equity shares to IEPF.
2026-08-25 - Exide Industries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-08-18 - Exide Industries Limited has informed the Exchange about further investment in Exide Energy Solutions Limited, wholly owned subsidiary of the Company,
2026-08-06 - Exide Industries Limited has informed the Exchange about transcript of earnings call for Q1 FY 2026-27.
2026-08-03 - Exide Industries Limited has informed the Exchange about Link of Audio Recording of Investor Meet held on 3rd August 2026.
2026-08-01 - Exide Industries Limited has informed the Exchange about Investor Presentation
2026-07-30 - Exide Industries Limited has informed the Exchange regarding a press release dated July 30, 2026, titled "Strong Start to FY27: Revenue growth 17.6% and PAT growth of 27.1% reflecting operating leverage and sharper execution".
2026-07-30 - Exide Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-29 - Exide Industries Limited has informed the Exchange about intimation of Earnings Call Q1 FY 2026-27.
News
Recent coverage and analyst commentary for EXIDEIND
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Exide Industries Ltd.
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