Exide Industries Ltd
Exide Industries Ltd is primarily engaged in the manufacturing of storage batteries and allied products in India. [1]
- Market Cap ₹ 37,010 Cr.
- Current Price ₹ 435
- High / Low ₹ 437 / 287
- Stock P/E 34.0
- Book Value ₹ 173
- Dividend Yield 0.46 %
- ROCE 10.1 %
- ROE 7.49 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company's working capital requirements have reduced from 32.5 days to 23.1 days
Cons
- Stock is trading at 2.52 times its book value
- The company has delivered a poor sales growth of 11.4% over past five years.
- Company has a low return on equity of 7.76% 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
Standalone Figures in Rs. Crores / View Consolidated
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 | 15,323 | |
| Operating Profit | 910 | 1,021 | 1,084 | 1,244 | 1,413 | 1,369 | 1,357 | 1,399 | 1,569 | 1,874 | 1,894 | 1,946 |
| 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 | 82 | |
| Interest | 3 | 3 | 5 | 7 | 7 | 11 | 25 | 40 | 30 | 50 | 45 | 36 |
| 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: | 8% |
| TTM: | 6% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 19% |
| 3 Years: | 21% |
| 1 Year: | 13% |
| Return on Equity | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 8% |
| 3 Years: | 8% |
| Last Year: | 7% |
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 | 23 |
| ROCE % | 21% | 21% | 20% | 20% | 20% | 17% | 15% | 12% | 11% | 11% | 10% | 10% |
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. |
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| Channel Partners/Dealers Network Count |
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| Countries Served (Exports) Count |
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| Industrial Battery Capacity Billion Ah p.a. |
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| Manufacturing Plants Count |
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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)-Newspaper Publication
1d - Please find attached newspaper publication regarding special window for re-lodgement of transfer request of physical shares.
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Announcement under Regulation 30 (LODR)-Acquisition
1d - Exide invested ₹99.999998 crore in EESL; total investment now ₹4,902.23 crore.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
13 Jul - Filed Regulation 74(5) certificate for demat requests for quarter ended 30 June 2026.
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 10 Jul
- Shareholder Meeting / Postal Ballot-Outcome of AGM 10 Jul
Annual reports
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Financial Year 2026
from bse
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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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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]