Exide Industries Ltd logo

Exide Industries Ltd

EXIDEIND NSE

Key Fundamentals

MidcapAuto ComponentsAutomobiles
Market Cap
₹40,018 Cr
Volatility
Moderate
P/E Ratio
42.49
EBITDA
₹1,971 Cr
Return on Equity
6.17%
Debt to Equity
0.11
Book Value
₹163.59
EPS
₹10.29
52W High
₹496.4
52W Low
₹287

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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39 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

2
  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 20.2%

Weaknesses

3
  • Stock is trading at 2.91 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.

Growth Rate

Revenue Growth
4.30% ↘
Net Income Growth
7.42% ↘
Cash Flow Change
89.58% ↗
ROE
7.49% ↘
ROCE
3.73% ↘
EBITDA Margin (Avg.)
-1.09% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk medium

Exide Industries trades at a market cap of ₹41,395 Cr with a PE of 44.5x and PB of 3.0x. The stock has delivered a 31% one-year return despite modest single-digit sales and profit growth, while return on equity has declined to 6% over the last three years from 13% over the longer term.

Bull Case 7
  • Stock CAGR of 31% over 1 year and 23% over 3 years indicates strong market re-rating momentum
  • Company has reduced debt, strengthening balance sheet and improving financial flexibility
  • Consistent dividend payout of 20.2% with a current yield of 0.41%, reflecting shareholder-friendly capital allocation
  • Compounded sales growth of 12% over 5 years shows reasonable top-line expansion over medium term
  • TTM profit growth of 11% suggests an improving earnings trajectory compared to the 2% CAGR over the last 3 years
  • 10-year stock CAGR of 11% with 5-year ROE of 13% demonstrates long-term value creation track record
  • TTM sales growth of 8% indicates continued revenue momentum in the current period
Bear Case 8
  • PE of 44.5x is elevated for a company delivering only 2% compounded profit growth over 10 years
  • ROE has fallen sharply to 6% over last 3 years from 13% over 5 and 10 years, indicating deteriorating capital efficiency
  • Compounded profit growth of just 1% over 5 years and 2% over 3 years shows persistent earnings stagnation
  • Trading at 3.0x book value despite delivering only 6% ROE, implying the valuation far exceeds return generation
  • Sales growth of only 6% compounded over 3 years reflects a deceleration from the 12% five-year rate
  • Dividend yield of 0.41% offers limited income cushion at current elevated valuations
  • Stock has appreciated 31% in one year while TTM sales grew only 8% and profits 11%, suggesting valuation expansion outpacing fundamentals
  • 10-year compounded profit growth of only 2% against 7% sales growth implies margin compression over the long term

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 19h ago
Positives 3
  • Gigafactory progress, zero-debt status Aug 1

    Exide Industries highlighted gigafactory milestones and confirmed zero-debt status in Q1FY27 update. Revenue generation from new energy business expected in FY27.

  • Auto OEM 25%+ YoY growth streak Jul 30

    Automotive OEM business posted over 25% YoY growth for the third consecutive quarter. Q1 revenue rose to ₹53.1B from ₹45.1B YoY.

  • ₹1,400 Cr capex plan for FY27 Aug 3

    Board approved ₹1,400 crore investment for FY27 with ₹100 crore deployed in July and the rest phased through the fiscal year.

Neutral 2
  • Q1 FY27 earnings call held Aug 3

    Exide Industries held its Q1 FY2026-27 earnings call on August 3, 2026 at 12:00 PM IST, hosted by Investec Capital Services with senior management. Audio recording uploaded per SEBI LODR Regulations 30 and 46.

  • MD confirms FY27 revenue target Jul 30

    Managing Director confirmed plans to begin earning revenue from the new energy business by FY27, signaling strategic growth commitment.

TL;DR: Exide Industries is executing well with strong automotive OEM growth exceeding 25% YoY for three straight quarters and a healthy top-line expansion to ₹53.1B. The zero-debt balance sheet and ₹1,400 crore capex plan support the gigafactory buildout, with new energy revenue expected in FY27. No material headwinds surfaced this period. The trend is clearly improving as the company transitions toward its new energy segment while the legacy business delivers consistent growth.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
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
Expenses
3,807
3,872
3,548
3,725
3,963
3,978
3,592
3,907
4,157
3,973
3,748
4,247
4,907
Operating Profit
438
499
432
448
473
472
425
428
538
391
452
488
621
OPM %
10%
11%
11%
11%
11%
11%
11%
10%
11%
9%
11%
10%
11%
Other Income
23
38
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
PBT
304
366
281
281
316
332
238
290
385
253
283
327
487
Tax %
26%
26%
28%
34%
30%
30%
33%
35%
29%
31%
31%
34%
28%
Net Profit
224
270
203
186
221
233
158
188
275
174
195
217
351
EPS in Rs
2.62
3.17
2.36
2.17
2.59
2.72
1.84
2.2
3.21
2.02
2.28
2.53
4.12
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
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
Expenses
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%
Other Income
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
PBT
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%
—
Net Profit
616
700
804
694
847
762
803
4,357
823
883
800
860
937
EPS in Rs
7.23
8.2
9.42
8.13
9.95
9.14
9.53
51.38
9.68
10.31
9.35
10.05
10.95
Div. Payout %
30%
29%
25%
30%
24%
45%
21%
4%
21%
19%
21%
20%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Borrowings
58
115
187
60
89
196
509
520
588
1,123
2,017
1,575
Other Liabilities
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
Fixed Assets
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
Other Assets
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
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
180
1,583
937
914
1,687
1,619
2,263
61
768
1,533
1,273
2,413
Investing
-61
-1,329
-727
-535
-1,438
-1,097
-2,082
66
-799
-1,458
-1,934
-1,551
Financing
-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
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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%

Shareholding Pattern

As of Jun 2026
Promoters 45.99%
DIIs 19.30%
Public 17.09%
FIIs 10.63%
Others 6.99%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
45.99%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
13.57%
13.74%
12.31%
11.72%
11.60%
11.47%
10.88%
10.92%
10.30%
10.63%
DIIs
23.31%
22.06%
21.57%
20.51%
19.07%
17.69%
17.49%
19.56%
18.92%
19.42%
18.74%
18.99%
18.56%
17.87%
17.97%
17.65%
17.15%
17.40%
18.46%
18.71%
19.13%
19.30%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
11.39%
12.94%
15.83%
17.05%
18.07%
19.10%
18.79%
16.65%
15.76%
14.44%
14.96%
14.70%
14.85%
15.45%
16.81%
17.66%
18.30%
18.12%
17.70%
17.47%
17.66%
17.09%
Others
19.30%
19.00%
16.61%
16.44%
16.87%
17.22%
17.72%
17.79%
19.32%
20.15%
20.31%
20.32%
7.02%
6.94%
6.91%
6.99%
6.95%
7.02%
6.97%
6.91%
6.92%
6.99%
No. of Shareholders
0
3,60,771
4,51,482
5,97,669
6,96,569
8,04,288
8,37,788
8,11,840
7,17,785
6,94,188
8,18,681
8,63,842
9,43,331
10,75,630
11,96,190
12,81,240
13,38,260
13,03,980
12,58,110
12,20,670
12,03,120
11,68,810

Documents

Frequently Asked Questions about Exide Industries Ltd

What does Exide Industries Ltd do?
Exide Industries Ltd is primarily engaged in the manufacturing of storage batteries and allied products in India. [1]
Where is Exide Industries Ltd (EXIDEIND) listed?
Exide Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: EXIDEIND and BSE: 500086. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Exide Industries Ltd belong to?
Exide Industries Ltd operates in the Automobiles sector within the Auto Components industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Exide Industries Ltd?
Exide Industries Ltd has a market capitalisation of approximately ₹40018.00 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Exide Industries Ltd?
The Price-to-Earnings (PE) ratio of Exide Industries Ltd is 42.49. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Exide Industries Ltd?
Over the past 52 weeks, Exide Industries Ltd has traded between a low of ₹287 and a high of ₹496.4. This range helps investors understand the stock's price volatility and recent trading levels.
Does Exide Industries Ltd pay dividends?
Yes, Exide Industries Ltd has a dividend yield of 0.42%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Exide Industries Ltd?
Exide Industries Ltd has a Return on Equity (ROE) of 6.17%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Exide Industries Ltd on Tapetide?
On Tapetide, you can view Exide Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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

Website exideindustries.com
CEO Mr. Avik Kumar Roy
Employees 5,133
Listed 2003-06-17
Face Value ₹ 1
Issued Size 85,00,00,000

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