Exide Industries Ltd

Exide Industries Ltd

₹ 341 0.37%
21 May - close price
About

Exide Industries Ltd is primarily engaged in the manufacturing of storage batteries and allied products in India. [1]

Key Points

Products [1] [2]
The company offers a diversified product portfolio, with batteries from 2.5Ah to 20,200Ah.
1) B2C Aftermarket: The company manufactures batteries for 2W, 3W, 4W, E-rickshaws, UPS, and solar for trade and aftermarket.
2) Institutional B2B:The company manufactures batteries for 2W, 3W, and 4W OEMs. In the infrastructure segment, it serves industries such as telecom, railways, power projects, traction, data centers, and industrial UPS. Additionally, it manufactures specialized batteries for submarines.
3) International Business: It manufactures automotive, traction, and UPS batteries. It has a presence in over 60 countries with nearly 8% of the standalone revenue. In FY25, onboarded 14 distributors for automotive batteries and 28 accounts for industrial batteries. [3]

  • Market Cap 28,972 Cr.
  • Current Price 341
  • High / Low 431 / 287
  • Stock P/E 25.9
  • Book Value 173
  • Dividend Yield 0.59 %
  • ROCE 10.3 %
  • ROE 7.68 %
  • Face Value 1.00

Pros

  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of 11.4% over past five years.
  • Company has a low return on equity of 7.87% over last 3 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
3,543 4,073 4,107 3,841 4,009 4,313 4,267 3,849 4,159 4,510 4,178 4,030 4,551
3,176 3,640 3,624 3,401 3,493 3,818 3,784 3,400 3,693 3,962 3,784 3,560 4,021
Operating Profit 367 432 483 440 516 494 484 449 467 548 395 470 530
OPM % 10% 11% 12% 11% 13% 11% 11% 12% 11% 12% 9% 12% 12%
41 19 39 23 3 14 53 13 16 18 42 9 14
Interest 8 10 12 14 13 9 10 12 13 9 9 8 8
Depreciation 119 119 126 127 125 126 127 124 127 128 131 127 116
Profit before tax 281 322 385 321 382 374 399 325 343 430 298 343 420
Tax % 26% 25% 25% 25% 26% 25% 25% 25% 26% 25% 26% 25% 26%
208 242 287 240 284 280 298 245 255 320 221 258 312
EPS in Rs 2.44 2.85 3.38 2.83 3.34 3.29 3.50 2.88 3.00 3.77 2.60 3.03 3.68
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
6,802 6,795 7,583 9,186 10,588 9,857 10,041 12,410 14,592 16,029 16,588 17,269
5,892 5,773 6,499 7,942 9,175 8,488 8,684 11,011 13,023 14,155 14,694 15,326
Operating Profit 910 1,021 1,084 1,244 1,413 1,369 1,357 1,399 1,569 1,874 1,894 1,943
OPM % 13% 15% 14% 14% 13% 14% 14% 11% 11% 12% 11% 11%
31 47 103 14 146 40 65 4,774 132 83 96 84
Interest 3 3 5 7 7 11 25 40 30 50 45 35
Depreciation 140 158 206 246 314 363 379 413 456 497 504 501
Profit before tax 798 908 976 1,006 1,239 1,035 1,018 5,720 1,215 1,410 1,441 1,491
Tax % 32% 31% 29% 34% 32% 20% 26% 18% 26% 25% 25% 25%
546 624 694 668 844 826 758 4,684 904 1,053 1,077 1,111
EPS in Rs 6.42 7.35 8.16 7.86 9.93 9.71 8.92 55.11 10.63 12.39 12.67 13.07
Dividend Payout % 34% 33% 29% 31% 24% 42% 22% 4% 19% 16% 16% 15%
Compounded Sales Growth
10 Years: 10%
5 Years: 11%
3 Years: 6%
TTM: 4%
Compounded Profit Growth
10 Years: 6%
5 Years: 8%
3 Years: 9%
TTM: 6%
Stock Price CAGR
10 Years: 8%
5 Years: 13%
3 Years: 19%
1 Year: -11%
Return on Equity
10 Years: 10%
5 Years: 8%
3 Years: 8%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 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 85 85
Reserves 3,970 4,426 4,879 5,304 5,902 6,211 6,809 10,513 11,125 13,052 14,357 14,589
18 103 170 0 0 28 286 290 278 396 386 375
1,330 1,524 1,642 2,008 2,185 1,918 2,450 2,476 2,564 3,334 3,991 4,208
Total Liabilities 5,403 6,138 6,776 7,397 8,172 8,242 9,629 13,364 14,051 16,866 18,819 19,257
1,090 1,265 1,546 1,958 2,297 2,374 2,672 2,808 2,850 2,865 2,876 2,771
CWIP 100 186 141 234 255 297 201 312 101 202 138 162
Investments 1,896 2,698 2,674 1,969 2,199 2,071 3,059 6,036 6,341 8,621 9,972 10,734
2,317 1,989 2,414 3,236 3,421 3,501 3,698 4,208 4,759 5,179 5,834 5,589
Total Assets 5,403 6,138 6,776 7,397 8,172 8,242 9,629 13,364 14,051 16,866 18,819 19,257

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
324 1,340 430 517 1,004 914 1,413 20 848 1,997 1,298 2,231
-213 -1,146 -307 -28 -766 -325 -1,277 275 -888 -1,617 -1,180 -1,963
-202 -150 -178 -421 -252 -509 -199 -225 -46 -230 -224 -215
Net Cash Flow -90 44 -55 67 -14 80 -62 71 -86 149 -106 53
Free Cash Flow 20 945 14 -255 453 449 1,075 -558 499 1,512 873 1,812
CFO/OP 63% 157% 66% 70% 97% 85% 124% 76% 75% 126% 88% 135%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 30 32 30 37 37 30 32 35 32 29 35 31
Inventory Days 122 98 118 107 94 128 130 105 107 107 123 106
Days Payable 52 64 59 66 60 60 91 69 55 76 91 95
Cash Conversion Cycle 100 66 89 79 72 98 71 71 84 60 67 42
Working Capital Days 52 21 30 46 41 53 40 43 49 36 39 28
ROCE % 21% 21% 20% 20% 20% 17% 15% 12% 11% 11% 10% 10%

Insights

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Mar 2015 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2022 Mar 2023 Mar 2024 Nov 2025
Humsafar Tertiary Network Outlets
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Automotive Battery Production Capacity
Million Units
Captive Lead Smelting Capacity
MT p.a.
Industrial Power Capacity
Million Ah
Total Distribution/Dealer Network
Number
Lithium-ion Cell Manufacturing Target Phase 1
GWh
Solar Segment Revenue Contribution
INR Cr.

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
45.99% 45.99% 45.99% 45.99% 45.99% 45.99% 45.99% 45.99% 45.99% 45.99% 45.99% 45.99%
12.86% 12.81% 12.94% 13.57% 13.74% 12.31% 11.72% 11.60% 11.47% 10.88% 10.91% 10.30%
19.77% 19.05% 19.24% 18.57% 17.87% 17.96% 17.64% 17.15% 17.39% 18.46% 18.70% 19.12%
21.36% 22.14% 21.82% 21.88% 22.39% 23.73% 24.63% 25.25% 25.14% 24.66% 24.39% 24.59%
No. of Shareholders 6,94,1888,18,6818,63,8429,43,33110,75,62611,96,19012,81,23513,38,26213,04,14012,58,10712,20,67012,03,117

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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