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Consolidated Standalone

Exide Inds

₹452.3 3.4 | 0.8%

Market Cap ₹38441 Cr.

Stock P/E 43.8

P/B 3

Current Price ₹452.3

Book Value ₹ 151.6

Face Value 1

52W High ₹485

Dividend Yield 0.44%

52W Low ₹ 187.3

Edit Ratio

Exide Inds Research see more...

Overview Inc. Year: 1947Industry: Batteries

Exide Industries Ltd designs, manufactures, markets, and sells lead acid storage batteries and allied merchandise in India and internationally. The corporation operates in two segments, Automotive and Industrial. It offers automobile, commercial, genset, solar, inverter, and submarine batteries, in addition to domestic UPS structures and e-rickshaws. The company also presents life coverage merchandise via individual agents, company marketers, banks, etc.; manufactures and supplies recycled lead and lead alloys; manufactures lead acid automotive and bike batteries; provides power storage solutions and technical help for manufacturing of lithium ion batteries; and produces and distributes industrial battery chargers, rectifiers, and elements, in addition to engages in the non-conventional electricity commercial enterprise activities. In addition, it offers solutions inside the regions of equipment selection, battery sizing, installation, operation, and protection. Exide Industries Ltd sells its batteries under the EXIDE, INDEX, DYNEX, SF SONIC, CHLORIDE, and CEIL logo names via a distribution community of about 48,000 direct and indirect dealers. Its merchandise are utilized in energy, solar, railways, telecom, UPS, tasks, traction, and different industries. The company was previously called Chloride Industries Ltd. and modified its name to Exide Industries Ltd in August 1995. Exide Industries Ltd was founded in 1916 and is situated in Kolkata, India.

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Exide Inds Share Price

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Peer Comparison

Exide Inds Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 3312 3523 4022 3841 3539 3677 4245 4372 3980 4173
Other Income 17 19 29 36 24 36 22 37 25 5
Total Income 3328 3541 4051 3877 3562 3713 4268 4409 4005 4178
Total Expenditure 2932 3191 3634 3410 3140 3305 3807 3872 3548 3725
Operating Profit 397 351 417 467 422 407 460 536 457 453
Interest 15 21 16 18 19 21 24 30 32 31
Depreciation 111 116 122 123 127 131 132 141 145 142
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 271 213 279 326 276 256 304 365 281 280
Provision for Tax 72 73 77 85 78 75 80 95 78 95
Profit After Tax 199 140 202 241 198 181 224 270 203 186
Adjustments -21 3819 1 -0 0 -1 -2 -1 -3 -1
Profit After Adjustments 178 3959 203 241 199 180 222 269 200 185
Adjusted Earnings Per Share 2.1 46.6 2.4 2.8 2.3 2.1 2.6 3.2 2.4 2.2

Exide Inds Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 6366 8309 9535 9536 11179 12808 14721 14471 10359 12789 15078 16770
Other Income 65 505 827 83 126 94 72 98 62 62 125 89
Total Income 6431 8814 10362 9618 11304 12903 14793 14569 10422 12851 15203 16860
Total Expenditure 5520 7872 9324 8372 9828 11431 13191 13049 8993 11386 13485 14952
Operating Profit 911 941 1038 1246 1476 1471 1601 1520 1429 1465 1718 1906
Interest 12 14 9 79 153 114 117 108 37 64 79 117
Depreciation 122 140 155 175 226 267 344 418 394 440 502 560
Exceptional Income / Expenses 0 0 0 0 0 -42 108 -22 0 0 0 0
Profit Before Tax 777 787 874 992 1097 1048 1249 972 998 961 1138 1230
Provision for Tax 237 241 257 292 293 354 402 209 265 266 315 348
Profit After Tax 540 546 616 700 804 694 847 762 733 694 823 883
Adjustments 9 -2 -2 -3 -3 -3 -2 14 76 3673 -0 -7
Profit After Adjustments 549 545 615 697 801 691 846 777 810 4367 823 876
Adjusted Earnings Per Share 6.5 6.4 7.2 8.2 9.4 8.1 9.9 9.1 9.5 51.4 9.7 10.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 18% 1% 3% 9%
Operating Profit CAGR 17% 4% 3% 7%
PAT CAGR 19% 3% 3% 4%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 140% 35% 17% 15%
ROE Average 8% 9% 11% 14%
ROCE Average 11% 12% 15% 21%

Exide Inds Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 3080 3460 3841 4390 5032 5429 6107 6467 7272 10584 11132
Minority's Interest 11 12 13 15 16 18 33 47 46 40 9
Borrowings 2 4 3 3 1 9 10 9 86 82 141
Other Non-Current Liabilities 6395 6824 7796 8637 10109 11304 12906 14577 16468 321 345
Total Current Liabilities 1820 2194 2235 2326 2608 3054 3375 3252 4805 2818 3024
Total Liabilities 11309 12494 13887 15370 17765 19815 22431 24351 28677 13845 14652
Fixed Assets 1677 1686 1781 1975 2259 2681 3080 3249 3599 3361 3685
Other Non-Current Assets 6241 7278 8386 9211 10671 12045 13891 15693 18822 5363 5276
Total Current Assets 3390 3529 3720 4184 4835 5089 5460 5410 6256 5121 5691
Total Assets 11309 12494 13887 15370 17765 19815 22431 24351 28677 13845 14652

Exide Inds Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 63 221 287 207 287 315 309 341 331 342 189
Cash Flow from Operating Activities 399 872 180 1583 937 914 1687 1619 2263 61 768
Cash Flow from Investing Activities -90 -602 -56 -1329 -728 -537 -1437 -1097 -2080 66 -799
Cash Flow from Financing Activities -155 -215 -199 -167 -182 -386 -217 -532 -170 -172 -30
Net Cash Inflow / Outflow 154 55 -74 87 27 -8 33 -10 13 -45 -61
Closing Cash & Cash Equivalent 221 287 207 294 314 309 341 331 342 189 132

Exide Inds Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 6.46 6.41 7.23 8.2 9.42 8.13 9.95 9.14 9.53 51.38 9.68
CEPS(Rs) 7.79 8.08 9.08 10.3 12.12 11.31 14.01 13.88 13.26 13.34 15.59
DPS(Rs) 1.6 1.8 2.2 2.4 2.4 2.4 2.4 4.1 2 2 2
Book NAV/Share(Rs) 35.76 40.25 44.76 51.64 59.2 63.87 71.85 76.09 85.56 124.51 130.97
Core EBITDA Margin(%) 11.81 4.8 2.05 11.17 11.11 10.52 10.39 9.82 13.19 10.97 10.57
EBIT Margin(%) 11.02 8.8 8.55 10.28 10.29 8.88 9.28 7.46 9.99 8.01 8.07
Pre Tax Margin(%) 10.85 8.64 8.46 9.52 9.03 8.01 8.48 6.72 9.64 7.51 7.54
PAT Margin (%) 7.54 6 5.97 6.72 6.62 5.31 5.76 5.27 7.08 5.43 5.46
Cash Profit Margin (%) 9.25 7.54 7.48 8.4 8.48 7.35 8.09 8.15 10.88 8.87 8.79
ROA(%) 7.09 4.59 4.67 4.79 4.85 3.69 4.01 3.26 2.77 3.27 5.77
ROE(%) 19 16.91 17.06 17.09 17.07 13.27 14.69 12.13 10.68 7.78 7.58
ROCE(%) 27.36 24.47 24.13 25.6 25.71 21.71 23.38 16.96 14.84 11.26 10.96
Receivable days 25.95 25.07 23.85 24.68 21.89 25.56 28.99 29.08 37.65 31.02 28.17
Inventory Days 65.38 54.34 52.15 50.66 44.28 51.71 50.46 56.5 88.99 78.37 76.15
Payable days 67.01 87.49 79.44 85.58 82.17 74.46 72.57 83.69 96.54 68.96 44.99
PER(x) 19.99 18.88 24.58 17.02 23.76 27.3 21.98 14.36 19.26 2.94 18.39
Price/Book(x) 3.61 3.01 3.97 2.7 3.78 3.47 3.04 1.73 2.15 1.21 1.36
Dividend Yield(%) 1.24 1.49 1.24 1.72 1.07 1.08 1.1 3.12 1.09 1.32 1.12
EV/Net Sales(x) 1.7 1.21 1.57 1.23 1.69 1.45 1.24 0.75 1.49 1 1.01
EV/Core EBITDA(x) 11.87 10.65 14.4 9.38 12.8 12.65 11.44 7.16 10.77 8.77 8.89
Net Sales Growth(%) 19.76 30.52 14.76 0.01 17.23 14.58 14.93 -1.7 -28.41 23.45 17.9
EBIT Growth(%) 15.81 1.52 10.23 21.32 16.71 -7.02 17.55 -20.94 -4.2 -0.94 18.67
PAT Growth(%) 16.21 1.14 12.85 13.59 14.84 -13.67 22.08 -10.02 -3.81 -5.33 18.5
EPS Growth(%) 23.15 -0.85 12.83 13.48 14.86 -13.74 22.37 -8.14 4.27 439.2 -81.16
Debt/Equity(x) 0.02 0.01 0.02 0.03 0.04 0.01 0.01 0.01 0.02 0.02 0.03
Current Ratio(x) 1.86 1.61 1.66 1.8 1.85 1.67 1.62 1.66 1.3 1.82 1.88
Quick Ratio(x) 1.09 1.01 0.93 1.26 1.2 1.01 1.01 0.92 0.75 0.8 0.75
Interest Cover(x) 66.69 56.29 94.73 13.59 8.18 10.17 11.67 9.98 28.33 15.93 15.45
Total Debt/Mcap(x) 0 0 0 0.01 0.01 0 0 0.01 0.01 0.02 0.02

Exide Inds Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 45.99 45.99 45.99 45.99 45.99 45.99 45.99 45.99 45.99 45.99
FII 9.63 10.13 10.4 10.48 10.96 12.32 12.86 12.81 12.94 13.57
DII 20.61 19.16 17.82 17.82 19.56 18.92 19.78 19.05 19.23 18.56
Public 23.77 24.71 25.78 25.7 23.48 22.76 21.37 22.14 21.83 21.87
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 68.96 to 44.99days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 45.99%.
  • Company has a low return on equity of 9% over the last 3 years.
  • The company has delivered a poor profit growth of 3% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Exide Inds News

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