Exide Industries Ltd logo

Exide Industries Ltd

EXIDEIND NSE

Key Fundamentals

Volatility
Moderate
P/E Ratio
38.82
EBITDA
₹1,971 Cr
Return on Equity
6.84%
Debt to Equity
0.13
EPS
₹10.29
52W High
₹431
52W Low
₹287

Technical Indicators

Key Insights

Strengths

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

Weaknesses

2
  • 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
HOLD Worth holding, not adding Conviction 5/10

Exide Industries trades at a PE of 38x with a 3-year ROE of just 6%, making the valuation hard to justify on current fundamentals. However, the company's debt reduction and pivot into lithium-ion battery manufacturing offer long-term optionality. With analysts split 47% buy vs 40% sell, the risk-reward is balanced at current levels.

Bull Case 7
  • Stock has delivered 18% CAGR over 3 years, outperforming broader market expectations for a traditional battery maker
  • Company has reduced debt, strengthening the balance sheet for its capex-heavy lithium-ion expansion plans
  • Maintains a consistent dividend payout of 20.2%, providing a floor for long-term investors with 0.52% current yield
  • 5-year compounded sales growth of 12% demonstrates the underlying demand resilience in the lead-acid battery replacement market
  • Market cap of Rs 32,555 crore provides scale advantages and institutional investor access compared to smaller battery peers
  • TTM profit growth of 8% shows improving profitability trend versus the 3-year CAGR of just 2%
  • 46.67% of analysts (7 out of 15) rate the stock a Buy, indicating institutional conviction in the long-term story
Bear Case 8
  • PE of 38x is expensive for a company delivering only 6% ROE over the last 3 years, implying poor capital efficiency relative to valuation
  • 3-year compounded profit CAGR of just 2% indicates earnings have barely grown despite revenue expansion
  • Last year ROE of 6% is well below the cost of equity, destroying shareholder value on a risk-adjusted basis
  • 40% of analysts (6 out of 15) rate the stock a Sell, reflecting significant institutional skepticism at current prices
  • 5-year compounded profit growth of only 1% suggests structural margin compression in the core lead-acid business
  • TTM sales growth has decelerated to just 4%, down sharply from the 5-year CAGR of 12%, signaling demand slowdown
  • Price-to-book of 2.35x is elevated for a business generating single-digit ROE, limiting margin of safety
  • 10-year stock CAGR of only 9% has barely beaten fixed deposit returns, reflecting poor long-term wealth creation

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

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 2
  • Strong FY26 revenue and profits Jun 16

    Exide Industries posted ₹17,269 crore standalone revenue in FY26 with EBITDA of ₹1,943 crore and PAT of ₹1,111 crore, reflecting solid operational performance.

  • ₹4,802 crore invested in EESL Jun 16

    Cumulative investment of ₹4,802 crore in the EESL lithium-ion venture signals long-term commitment to the EV and energy storage growth opportunity.

Neutral 3
  • Board meeting Jul 30 for Q1 Jun 19

    Exide Industries scheduled a board meeting on July 30 to consider Q1 FY27 results. No financial details disclosed ahead of the meeting.

  • ₹40 crore block trade on NSE Jun 15

    A block deal of approximately 10.18 lakh shares was executed at ₹395.30 per share on NSE, valued at ₹40.22 crore, indicating large investor activity.

  • 79th AGM set for July 10 May 30

    Exide Industries will hold its 79th AGM via video conferencing on July 10, 2026, with July 3 as the record date for dividend entitlement.

TL;DR: Exide Industries delivered a solid FY26 with ₹17,269 crore revenue and over ₹1,100 crore PAT, while continuing heavy investment in its lithium-ion subsidiary EESL. No visible headwinds have emerged in recent news flow. The upcoming Q1 results on July 30 will be the next catalyst to confirm whether growth momentum is sustaining into FY27.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
3,677
4,245
4,372
3,980
4,173
4,436
4,450
4,017
4,335
4,695
4,365
4,201
4,735
Expenses
3,305
3,807
3,872
3,548
3,725
3,963
3,978
3,592
3,907
4,157
3,973
3,748
4,247
Operating Profit
372
438
499
432
448
473
472
425
428
538
391
452
488
OPM %
10%
10%
11%
11%
11%
11%
11%
11%
10%
11%
9%
11%
10%
Other Income
36
23
38
25
5
16
40
13
44
28
54
5
4
Interest
21
24
30
32
31
30
34
54
35
32
40
25
27
Depreciation
131
132
141
145
142
144
146
145
148
149
152
149
138
PBT
256
304
366
281
281
316
332
238
290
385
253
283
327
Tax %
29%
26%
26%
28%
34%
30%
30%
33%
35%
29%
31%
31%
34%
Net Profit
181
224
270
203
186
221
233
158
188
275
174
195
217
EPS in Rs
2.12
2.62
3.17
2.36
2.17
2.59
2.72
1.84
2.2
3.21
2.02
2.28
2.53
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
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
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
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
OPM %
10%
13%
12%
11%
11%
10%
13%
11%
11%
11%
10%
10%
Other Income
94
59
102
21
148
40
132
3,725
125
88
113
91
Interest
9
79
153
114
117
108
37
64
79
120
160
129
Depreciation
155
175
226
267
344
418
394
440
502
560
582
589
PBT
874
992
1,097
1,048
1,249
972
1,068
4,623
1,138
1,231
1,176
1,249
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
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
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
3,039
4,140
5,459
5,737
Total Liabilities
13,887
15,370
17,765
19,815
22,431
24,213
28,406
13,902
14,760
18,149
21,390
21,218
Fixed Assets
1,781
1,975
2,259
2,681
3,080
3,248
3,599
3,361
3,685
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
14,760
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
1,531
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
110
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
-219
-340
-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 Mar 2026
Promoters 45.99%
Public 24.59%
DIIs 19.12%
FIIs 10.30%
Total 100.00%
  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 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%
FIIs
12.86%
12.81%
12.94%
13.57%
13.74%
12.31%
11.72%
11.60%
11.47%
10.88%
10.91%
10.30%
DIIs
19.77%
19.05%
19.24%
18.57%
17.87%
17.96%
17.64%
17.15%
17.39%
18.46%
18.70%
19.12%
Public
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
6,94,188
8,18,681
8,63,842
9,43,331
10,75,626
11,96,190
12,81,235
13,38,262
13,04,140
12,58,107
12,20,670
12,03,117

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 Consumer Discretionary sector within the Auto Components industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the PE ratio of Exide Industries Ltd?
The Price-to-Earnings (PE) ratio of Exide Industries Ltd is 38.82. 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 ₹431. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Exide Industries Ltd?
Exide Industries Ltd has a Return on Equity (ROE) of 6.84%. 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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