Market Cap ₹39823 Cr.
Stock P/E 45.1
P/B 2.9
Current Price ₹468.5
Book Value ₹ 162.7
Face Value 1
52W High ₹620
Dividend Yield 0.43%
52W Low ₹ 278.4
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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| #(Fig in Cr.) | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 4022 | 3841 | 3539 | 3677 | 4245 | 4372 | 3980 | 4173 | 4436 | 4450 |
| Other Income | 29 | 36 | 24 | 36 | 22 | 37 | 25 | 5 | 16 | 40 |
| Total Income | 4051 | 3877 | 3562 | 3713 | 4268 | 4409 | 4005 | 4178 | 4452 | 4490 |
| Total Expenditure | 3634 | 3410 | 3140 | 3305 | 3807 | 3872 | 3548 | 3725 | 3963 | 3978 |
| Operating Profit | 417 | 467 | 422 | 407 | 460 | 536 | 457 | 453 | 490 | 513 |
| Interest | 16 | 18 | 19 | 21 | 24 | 30 | 32 | 31 | 30 | 34 |
| Depreciation | 122 | 123 | 127 | 131 | 132 | 141 | 145 | 142 | 144 | 146 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 279 | 326 | 276 | 256 | 304 | 365 | 281 | 280 | 316 | 333 |
| Provision for Tax | 77 | 85 | 78 | 75 | 80 | 95 | 78 | 95 | 95 | 99 |
| Profit After Tax | 202 | 241 | 198 | 181 | 224 | 270 | 203 | 186 | 221 | 234 |
| Adjustments | 1 | -0 | 0 | -1 | -2 | -1 | -3 | -1 | -1 | -2 |
| Profit After Adjustments | 203 | 241 | 199 | 180 | 222 | 269 | 200 | 185 | 220 | 231 |
| Adjusted Earnings Per Share | 2.4 | 2.8 | 2.3 | 2.1 | 2.6 | 3.2 | 2.4 | 2.2 | 2.6 | 2.7 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 8309 | 9535 | 9536 | 11179 | 12808 | 14721 | 14471 | 10359 | 12789 | 15078 | 16770 | 17039 |
| Other Income | 505 | 827 | 83 | 126 | 94 | 72 | 98 | 62 | 62 | 125 | 90 | 86 |
| Total Income | 8814 | 10362 | 9618 | 11304 | 12903 | 14793 | 14569 | 10422 | 12851 | 15203 | 16860 | 17125 |
| Total Expenditure | 7872 | 9324 | 8372 | 9828 | 11431 | 13191 | 13049 | 8993 | 11386 | 13485 | 14949 | 15214 |
| Operating Profit | 941 | 1038 | 1246 | 1476 | 1471 | 1601 | 1520 | 1429 | 1465 | 1718 | 1911 | 1913 |
| Interest | 14 | 9 | 79 | 153 | 114 | 117 | 108 | 37 | 64 | 79 | 120 | 127 |
| Depreciation | 140 | 155 | 175 | 226 | 267 | 344 | 418 | 394 | 440 | 502 | 560 | 577 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | -42 | 108 | -22 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 787 | 874 | 992 | 1097 | 1048 | 1249 | 972 | 998 | 961 | 1138 | 1231 | 1210 |
| Provision for Tax | 241 | 257 | 292 | 293 | 354 | 402 | 209 | 265 | 266 | 315 | 348 | 367 |
| Profit After Tax | 546 | 616 | 700 | 804 | 694 | 847 | 762 | 733 | 694 | 823 | 883 | 844 |
| Adjustments | -2 | -2 | -3 | -3 | -3 | -2 | 14 | 76 | 3673 | -0 | -6 | -7 |
| Profit After Adjustments | 545 | 615 | 697 | 801 | 691 | 846 | 777 | 810 | 4367 | 823 | 877 | 836 |
| Adjusted Earnings Per Share | 6.4 | 7.2 | 8.2 | 9.4 | 8.1 | 9.9 | 9.1 | 9.5 | 51.4 | 9.7 | 10.3 | 9.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 11% | 17% | 3% | 7% |
| Operating Profit CAGR | 11% | 10% | 4% | 7% |
| PAT CAGR | 7% | 6% | 1% | 5% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 60% | 41% | 21% | 11% |
| ROE Average | 7% | 8% | 9% | 13% |
| ROCE Average | 11% | 11% | 13% | 19% |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 3460 | 3841 | 4390 | 5032 | 5429 | 6107 | 6467 | 7272 | 10584 | 11132 | 12886 |
| Minority's Interest | 12 | 13 | 15 | 16 | 18 | 33 | 47 | 46 | 40 | 9 | 15 |
| Borrowings | 4 | 3 | 3 | 1 | 9 | 10 | 9 | 86 | 82 | 141 | 222 |
| Other Non-Current Liabilities | 6824 | 7796 | 8637 | 10109 | 11304 | 12906 | 14577 | 16468 | 321 | 343 | 556 |
| Total Current Liabilities | 2194 | 2235 | 2326 | 2608 | 3054 | 3375 | 3252 | 4805 | 2818 | 3024 | 4448 |
| Total Liabilities | 12494 | 13887 | 15370 | 17765 | 19815 | 22431 | 24351 | 28677 | 13845 | 14649 | 18127 |
| Fixed Assets | 1686 | 1781 | 1975 | 2259 | 2681 | 3080 | 3249 | 3599 | 3361 | 3682 | 3853 |
| Other Non-Current Assets | 7278 | 8386 | 9211 | 10671 | 12045 | 13891 | 15693 | 18822 | 5363 | 5276 | 8023 |
| Total Current Assets | 3529 | 3720 | 4184 | 4835 | 5089 | 5460 | 5410 | 6256 | 5121 | 5691 | 6235 |
| Total Assets | 12494 | 13887 | 15370 | 17765 | 19815 | 22431 | 24351 | 28677 | 13845 | 14649 | 18127 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 221 | 287 | 207 | 287 | 315 | 309 | 341 | 331 | 342 | 189 | 132 |
| Cash Flow from Operating Activities | 872 | 180 | 1583 | 937 | 914 | 1687 | 1619 | 2263 | 61 | 768 | 1531 |
| Cash Flow from Investing Activities | -602 | -56 | -1329 | -728 | -537 | -1437 | -1097 | -2080 | 66 | -799 | -1458 |
| Cash Flow from Financing Activities | -215 | -199 | -167 | -182 | -386 | -217 | -532 | -170 | -172 | -30 | 110 |
| Net Cash Inflow / Outflow | 55 | -74 | 87 | 27 | -8 | 33 | -10 | 13 | -45 | -61 | 183 |
| Closing Cash & Cash Equivalent | 287 | 207 | 294 | 314 | 309 | 341 | 331 | 342 | 189 | 132 | 323 |
| # | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 6.41 | 7.23 | 8.2 | 9.42 | 8.13 | 9.95 | 9.14 | 9.53 | 51.38 | 9.68 | 10.31 |
| CEPS(Rs) | 8.08 | 9.08 | 10.3 | 12.12 | 11.31 | 14.01 | 13.88 | 13.26 | 13.34 | 15.58 | 16.98 |
| DPS(Rs) | 1.8 | 2.2 | 2.4 | 2.4 | 2.4 | 2.4 | 4.1 | 2 | 2 | 2 | 2 |
| Book NAV/Share(Rs) | 40.25 | 44.76 | 51.64 | 59.2 | 63.87 | 71.85 | 76.09 | 85.56 | 124.51 | 130.97 | 151.6 |
| Core EBITDA Margin(%) | 4.8 | 2.05 | 11.17 | 11.11 | 10.52 | 10.39 | 9.82 | 13.19 | 10.97 | 10.57 | 10.86 |
| EBIT Margin(%) | 8.8 | 8.55 | 10.28 | 10.29 | 8.88 | 9.28 | 7.46 | 9.99 | 8.01 | 8.07 | 8.06 |
| Pre Tax Margin(%) | 8.64 | 8.46 | 9.52 | 9.03 | 8.01 | 8.48 | 6.72 | 9.64 | 7.51 | 7.54 | 7.34 |
| PAT Margin (%) | 6 | 5.97 | 6.72 | 6.62 | 5.31 | 5.76 | 5.27 | 7.08 | 5.43 | 5.46 | 5.26 |
| Cash Profit Margin (%) | 7.54 | 7.48 | 8.4 | 8.48 | 7.35 | 8.09 | 8.15 | 10.88 | 8.87 | 8.79 | 8.61 |
| ROA(%) | 4.59 | 4.67 | 4.79 | 4.85 | 3.69 | 4.01 | 3.26 | 2.77 | 3.27 | 5.77 | 5.39 |
| ROE(%) | 16.91 | 17.06 | 17.09 | 17.07 | 13.27 | 14.69 | 12.13 | 10.68 | 7.78 | 7.58 | 7.35 |
| ROCE(%) | 24.47 | 24.13 | 25.6 | 25.71 | 21.71 | 23.38 | 16.96 | 14.84 | 11.26 | 10.96 | 10.81 |
| Receivable days | 25.07 | 23.85 | 24.68 | 21.89 | 25.56 | 28.99 | 29.08 | 37.65 | 31.02 | 28.17 | 28.42 |
| Inventory Days | 54.34 | 52.15 | 50.66 | 44.28 | 51.71 | 50.46 | 56.5 | 88.99 | 78.37 | 76.15 | 79.5 |
| Payable days | 87.49 | 79.44 | 85.58 | 82.17 | 74.46 | 72.57 | 83.69 | 96.54 | 68.96 | 44.99 | 51.34 |
| PER(x) | 18.88 | 24.58 | 17.02 | 23.76 | 27.3 | 21.98 | 14.36 | 19.26 | 2.94 | 18.39 | 29.52 |
| Price/Book(x) | 3.01 | 3.97 | 2.7 | 3.78 | 3.47 | 3.04 | 1.73 | 2.15 | 1.21 | 1.36 | 2.01 |
| Dividend Yield(%) | 1.49 | 1.24 | 1.72 | 1.07 | 1.08 | 1.1 | 3.12 | 1.09 | 1.32 | 1.12 | 0.66 |
| EV/Net Sales(x) | 1.21 | 1.57 | 1.23 | 1.69 | 1.45 | 1.24 | 0.75 | 1.49 | 1 | 1.01 | 1.57 |
| EV/Core EBITDA(x) | 10.65 | 14.4 | 9.38 | 12.8 | 12.65 | 11.44 | 7.16 | 10.77 | 8.77 | 8.89 | 13.73 |
| Net Sales Growth(%) | 30.52 | 14.76 | 0.01 | 17.23 | 14.58 | 14.93 | -1.7 | -28.41 | 23.45 | 17.9 | 11.22 |
| EBIT Growth(%) | 1.52 | 10.23 | 21.32 | 16.71 | -7.02 | 17.55 | -20.94 | -4.2 | -0.94 | 18.67 | 11.1 |
| PAT Growth(%) | 1.14 | 12.85 | 13.59 | 14.84 | -13.67 | 22.08 | -10.02 | -3.81 | -5.33 | 18.5 | 7.3 |
| EPS Growth(%) | -0.85 | 12.83 | 13.48 | 14.86 | -13.74 | 22.37 | -8.14 | 4.27 | 439.2 | -81.16 | 6.56 |
| Debt/Equity(x) | 0.01 | 0.02 | 0.03 | 0.04 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.05 |
| Current Ratio(x) | 1.61 | 1.66 | 1.8 | 1.85 | 1.67 | 1.62 | 1.66 | 1.3 | 1.82 | 1.88 | 1.4 |
| Quick Ratio(x) | 1.01 | 0.93 | 1.26 | 1.2 | 1.01 | 1.01 | 0.92 | 0.75 | 0.8 | 0.75 | 0.53 |
| Interest Cover(x) | 56.29 | 94.73 | 13.59 | 8.18 | 10.17 | 11.67 | 9.98 | 28.33 | 15.93 | 15.45 | 11.25 |
| Total Debt/Mcap(x) | 0 | 0 | 0.01 | 0.01 | 0 | 0 | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 |
| # | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 45.99 | 45.99 | 45.99 | 45.99 | 45.99 | 45.99 | 45.99 | 45.99 | 45.99 | 45.99 |
| FII | 10.4 | 10.48 | 10.96 | 12.32 | 12.86 | 12.81 | 12.94 | 13.57 | 13.74 | 12.31 |
| DII | 17.82 | 17.82 | 19.56 | 18.92 | 19.78 | 19.05 | 19.23 | 18.56 | 17.87 | 17.96 |
| Public | 25.78 | 25.7 | 23.48 | 22.76 | 21.37 | 22.14 | 21.83 | 21.87 | 22.4 | 23.73 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 39.1 | 39.1 | 39.1 | 39.1 | 39.1 | 39.1 | 39.1 | 39.1 | 39.1 | 39.1 |
| FII | 8.84 | 8.91 | 9.32 | 10.47 | 10.93 | 10.89 | 11 | 11.53 | 11.68 | 10.46 |
| DII | 15.15 | 15.15 | 16.63 | 16.08 | 16.81 | 16.2 | 16.35 | 15.78 | 15.19 | 15.27 |
| Public | 21.91 | 21.85 | 19.96 | 19.35 | 18.16 | 18.82 | 18.56 | 18.59 | 19.04 | 20.17 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 |
Pros
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