Exide Industries Ltd logo

Exide Industries Ltd

EXIDEIND NSE

Key Fundamentals

SmallcapAuto ComponentsAutomobiles
Market Cap
₹41,140 Cr
Volatility
High Risk
P/E Ratio
44.75
EBITDA
₹1,971 Cr
Return on Equity
6.17%
Debt to Equity
0.11
Book Value
₹163.59
EPS
₹10.29
52W High
₹479.4
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

Data-driven rating, 0–100. How it works →

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 3.00 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 3d ago
AI opinion · based on fundamentals
Risk medium

Exide Industries Ltd commands a market cap of ₹40,379 Cr at a PE of 41.6x, reflecting premium valuation despite modest fundamentals — 3-year ROE of just 6%, compounded profit growth of only 2% over 3 years, and sales CAGR of 6% over the same period. The stock has delivered 22% CAGR over 3 years, significantly outpacing underlying earnings growth.

Bull Case 8
  • Company has reduced debt, strengthening the balance sheet and lowering financial risk for future capex cycles
  • Stock has delivered a 22% CAGR over 3 years and 22% over 5 years, demonstrating sustained investor confidence and re-rating potential
  • Consistent dividend payout of 20.2% provides a steady return to shareholders with current yield at 0.44%
  • TTM sales growth of 8% shows an improving revenue trajectory compared to the 6% compounded sales growth over 3 years
  • TTM profit growth of 11% marks a meaningful acceleration versus the 2% compounded profit growth over 3 years
  • 5-year compounded sales growth of 12% indicates the company has navigated through business cycles with reasonable top-line resilience
  • 10-year stock CAGR of 10% reflects long-term wealth creation through multiple market cycles
  • Price-to-book of 2.8x, while above book, is not extreme for a market leader in the battery segment transitioning into lithium-ion and energy storage
Bear Case 8
  • PE ratio of 41.6x is elevated given that compounded profit growth over 5 years is only 1%, implying the market is pricing in significant future earnings acceleration that has yet to materialize
  • 3-year ROE of just 6% is well below the cost of equity, indicating poor capital efficiency and suboptimal returns for shareholders
  • Last year ROE stands at 6%, unchanged from the 3-year average, showing no visible improvement in return metrics
  • Compounded profit growth of only 2% over 3 years and 2% over 10 years signals structural earnings stagnation over extended periods
  • Stock trading at 2.85x book value despite low single-digit ROE creates a significant valuation-fundamentals disconnect
  • 5-year sales growth of approximately 11.7% is modest for a company valued at over 41x earnings, raising questions about scalability
  • 10-year compounded sales growth of only 7% suggests the legacy lead-acid business faces structural growth limitations
  • Dividend yield of 0.44% offers minimal income support at current valuation levels relative to fixed-income alternatives

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

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Headwinds 1
  • Subsidiary reports ₹248 Cr net loss Jul 15

    Exide Energy Solutions Limited (EESL) reported a net loss of ₹248.16 crore for FY26 against turnover of only ₹157.56 crore, indicating the new energy business is still burning cash ahead of commercialization.

Positives 3
  • Auto OEM 25%+ growth, strong Q1 Jul 30

    Automotive OEM business posted over 25% YoY growth for the third consecutive quarter. Q1 FY27 revenue rose to ₹53.1B from ₹45.1B YoY, reflecting robust top-line momentum.

  • Gigafactory progress, zero-debt status Aug 1

    Exide highlighted gigafactory milestones and confirmed zero-debt status in Q1 FY27 update. Revenue generation from the new energy business is expected to begin in FY27.

  • ₹2/share dividend, CFO re-appointed Jul 10

    Board declared a final dividend of ₹2 per share for FY26 and shareholders approved re-appointment of CFO Manoj Kumar Agarwal, signaling management continuity.

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

    Board approved ₹1,400 crore total investment for FY27 with ₹100 crore deployed in July. Phased capital deployment reflects a structured approach to expansion spending.

  • ₹100 Cr fresh investment in EESL Jul 15

    Exide invested ₹99.99 crore in subsidiary EESL via rights issue on July 15, taking cumulative investment to ₹4,902.23 crore for the Bengaluru lithium-ion cell facility.

  • Q1 FY27 earnings call held Aug 3

    Earnings conference call held on August 3, 2026 at 12:00 PM IST hosted by Investec Capital Services with senior management participation. Audio recording made available per SEBI regulations.

TL;DR: Exide Industries is executing well on its core automotive battery business with 25%+ OEM growth and healthy revenue expansion to ₹53.1B in Q1 FY27. The gigafactory buildout is progressing with ₹4,900+ crore invested, though the subsidiary's ₹248 Cr loss shows the new energy segment remains pre-profitability. The zero-debt balance sheet and structured ₹1,400 Cr capex plan provide a cushion, and FY27 revenue from the lithium-ion business will be the key catalyst to watch.

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 ₹41140.00 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 44.75. 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 ₹479.4. 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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