Exide Industries Ltd
Exide Industries Ltd is primarily engaged in the manufacturing of storage batteries and allied products in India. [1]
- Market Cap ₹ 37,800 Cr.
- Current Price ₹ 445
- High / Low ₹ 462 / 287
- Stock P/E 40.3
- Book Value ₹ 164
- Dividend Yield 0.45 %
- ROCE 8.54 %
- ROE 5.97 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company has been maintaining a healthy dividend payout of 20.2%
Cons
- Stock is trading at 2.72 times its book value
- The company has delivered a poor sales growth of 11.7% over past five years.
- Company has a low return on equity of 6.22% 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9,471 | 9,477 | 11,179 | 12,808 | 14,721 | 14,471 | 10,359 | 12,789 | 15,078 | 16,770 | 17,238 | 17,995 | 18,829 | |
| 8,528 | 8,289 | 9,805 | 11,400 | 13,159 | 13,014 | 8,994 | 11,387 | 13,485 | 14,946 | 15,433 | 16,119 | 16,875 | |
| Operating Profit | 944 | 1,187 | 1,374 | 1,408 | 1,562 | 1,457 | 1,366 | 1,402 | 1,593 | 1,823 | 1,805 | 1,876 | 1,953 |
| OPM % | 10% | 13% | 12% | 11% | 11% | 10% | 13% | 11% | 11% | 11% | 10% | 10% | 10% |
| 94 | 59 | 102 | 21 | 148 | 40 | 132 | 3,725 | 125 | 88 | 113 | 91 | 91 | |
| Interest | 9 | 79 | 153 | 114 | 117 | 108 | 37 | 64 | 79 | 120 | 160 | 129 | 111 |
| Depreciation | 155 | 175 | 226 | 267 | 344 | 418 | 394 | 440 | 502 | 560 | 582 | 589 | 582 |
| Profit before tax | 874 | 992 | 1,097 | 1,048 | 1,249 | 972 | 1,068 | 4,623 | 1,138 | 1,231 | 1,176 | 1,249 | 1,351 |
| Tax % | 29% | 29% | 27% | 34% | 32% | 22% | 25% | 6% | 28% | 28% | 32% | 31% | |
| 616 | 700 | 804 | 694 | 847 | 762 | 803 | 4,357 | 823 | 883 | 800 | 860 | 937 | |
| EPS in Rs | 7.23 | 8.20 | 9.42 | 8.13 | 9.95 | 9.14 | 9.53 | 51.38 | 9.68 | 10.31 | 9.35 | 10.05 | 10.95 |
| Dividend Payout % | 30% | 29% | 25% | 30% | 24% | 45% | 21% | 4% | 21% | 19% | 21% | 20% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 12% |
| 3 Years: | 6% |
| TTM: | 8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 1% |
| 3 Years: | 2% |
| TTM: | 11% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 21% |
| 3 Years: | 20% |
| 1 Year: | 14% |
| Return on Equity | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 13% |
| 3 Years: | 6% |
| Last Year: | 6% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 3,756 | 4,305 | 4,947 | 5,344 | 6,022 | 6,382 | 7,187 | 10,499 | 11,047 | 12,801 | 13,828 | 13,820 |
| 58 | 115 | 187 | 60 | 89 | 196 | 509 | 520 | 588 | 1,123 | 2,017 | 1,575 | |
| 9,989 | 10,866 | 12,546 | 14,326 | 16,235 | 17,549 | 20,625 | 2,799 | 3,037 | 4,140 | 5,459 | 5,737 | |
| Total Liabilities | 13,887 | 15,370 | 17,765 | 19,815 | 22,431 | 24,213 | 28,406 | 13,902 | 14,758 | 18,149 | 21,390 | 21,218 |
| 1,781 | 1,975 | 2,259 | 2,681 | 3,080 | 3,248 | 3,599 | 3,361 | 3,682 | 3,853 | 3,935 | 4,006 | |
| CWIP | 115 | 192 | 149 | 241 | 300 | 405 | 431 | 341 | 525 | 1,352 | 3,643 | 4,198 |
| Investments | 8,817 | 10,446 | 11,884 | 12,490 | 14,328 | 15,816 | 18,807 | 5,558 | 5,106 | 5,940 | 6,468 | 6,131 |
| 3,175 | 2,757 | 3,474 | 4,402 | 4,723 | 4,744 | 5,570 | 4,642 | 5,444 | 7,004 | 7,343 | 6,882 | |
| Total Assets | 13,887 | 15,370 | 17,765 | 19,815 | 22,431 | 24,213 | 28,406 | 13,902 | 14,758 | 18,149 | 21,390 | 21,218 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 180 | 1,583 | 937 | 914 | 1,687 | 1,619 | 2,263 | 61 | 768 | 1,533 | 1,273 | 2,413 | |
| -61 | -1,329 | -727 | -535 | -1,438 | -1,097 | -2,082 | 66 | -799 | -1,458 | -1,934 | -1,551 | |
| -199 | -167 | -182 | -386 | -217 | -532 | -170 | -172 | -30 | 108 | 515 | -805 | |
| Net Cash Flow | -79 | 87 | 28 | -6 | 32 | -9 | 11 | -45 | -61 | 183 | -146 | 57 |
| Free Cash Flow | -149 | 1,161 | 497 | 108 | 1,001 | 1,024 | 1,771 | -603 | -217 | -338 | -652 | 1,293 |
| CFO/OP | 46% | 157% | 89% | 91% | 133% | 129% | 186% | 22% | 69% | 105% | 91% | 150% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 27 | 28 | 24 | 31 | 31 | 27 | 38 | 31 | 30 | 30 | 36 | 32 |
| Inventory Days | 129 | 106 | 131 | 120 | 107 | 138 | 144 | 120 | 121 | 124 | 144 | 120 |
| Days Payable | 82 | 96 | 93 | 91 | 81 | 92 | 130 | 78 | 65 | 87 | 105 | 110 |
| Cash Conversion Cycle | 74 | 37 | 61 | 60 | 56 | 73 | 52 | 74 | 85 | 67 | 74 | 42 |
| Working Capital Days | 20 | -3 | 10 | 22 | 16 | 21 | -14 | 40 | 47 | 26 | 17 | 4 |
| ROCE % | 23% | 26% | 26% | 23% | 21% | 17% | 14% | 11% | 10% | 10% | 9% | 9% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Automotive Battery Capacity Million units p.a. ・Standalone data |
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| Channel Partners/Dealers Network Count ・Standalone data |
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| Countries Served (Exports) Count ・Standalone data |
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| Industrial Battery Capacity Billion Ah p.a. ・Standalone data |
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| Manufacturing Plants Count ・Standalone data |
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| Recycled Lead Usage in Products % of lead & lead alloys |
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| Lead Recycling Capacity (CML) KMT p.a. |
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| Lithium-ion Cell Planned Capacity (EESL) GWh |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
10h - Audio recording of Q1 FY2026-27 earnings call uploaded on Exide Industries website.
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Announcement under Regulation 30 (LODR)-Investor Presentation
2d - Letter w.r.t investor presentation Q1 FY 2026-27.
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Unaudited Financial Result For Quarter Ended 30Th June 2026
30 Jul - Exide posted Q1 FY27 results; EESL achieved Bengaluru gigafactory milestones and infused Rs.100 crore equity.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
30 Jul - Q1 FY27 revenue rose 17.6% to Rs 5,305 crore; Bengaluru gigafactory achieved critical installation and sample milestones.
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Board Meeting Outcome for Outcome Of Board Meeting For The Quarter Ended 30Th June 2026
30 Jul - Q1 FY27 results approved; Exide infused Rs100 crore into EESL and Bengaluru gigafactory reached key milestones.
Annual reports
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Financial Year 2026
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
from nse
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Financial Year 2013
from bse
Concalls
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Aug 2026TranscriptPPT REC
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Jul 2025TranscriptAI SummaryPPT
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May 2025Transcript PPT
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Nov 2024Transcript PPT REC
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May 2024Transcript PPT REC
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Feb 2024TranscriptAI SummaryPPT
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Nov 2023Transcript PPT REC
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Sep 2023TranscriptAI SummaryPPT
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May 2023Transcript PPT
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Nov 2022TranscriptPPT
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]