Battery maker Exide Industries Ltd on Thursday reported a 28 per cent rise in consolidated profit after tax at Rs 351.3 crore in the first quarter ended June 30, on the back of strong sales. The company had posted a consolidated Profit After Tax (PAT) of Rs 274.58 crore in the corresponding quarter previous fiscal, Exide Industries Ltd said in a regulatory filing. Revenue from operations in the first quarter was at Rs 5,528.38 crore as against Rs 4,695.12 crore in the year-ago period, it added. Total expenses in the first quarter were higher at Rs 5,068.78 crore as compared to Rs 4,338.12 crore in the same period a year ago, the company said. Increased affordability and positive sentiment from GST 2.0 reforms continued to drive demand for automotives into the new financial year, Exide Industries said. Commenting on the performance, Exide Industries MD & CEO Avik Roy said, "We have entered FY27 with confidence, building on the strong momentum achieved in the second half of FY26. .
Exide Industries expects its Bengaluru lithium-ion cell plant to begin generating revenue from Q3 FY27 as it ramps up investments in battery manufacturing and new energy
Jatin Gedia of Teji Mandi reckons that the Nifty, Bank Nifty have slipped back into the correction zone; he recommends buy on Oil India and Exide Industries.
Analysts maintains a positive outlook on Exide, given steady demand prospects at its base (lead acid) business, and nearing commercialization of 1st phase of lithium-ion capacity (6 GWh).
Market outlook: Nifty, Bank Nifty likely to extend gains, says Jatin Gedia of Teji Mandi. The analyst recommends buy on AU Bank, Exide Industries and Ramco Cements.
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The company's standalone profit after tax rose to ₹312 crore ($32.8 million) in the quarter ended March 31, from ₹255 crore a year earlier
Revenue from sales to automakers jumped 25 per cent during the quarter, while sales of two- and four-wheeler batteries to retail customers hit a record high, Exide said
Battery maker says the Income Tax department has been conducting a survey at its offices and plants since October 29, adds there's no material impact on operations
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Ajit Mishra, Senior Vice President - Research at Religare Broking, has recommended buying shares of NTPC, Exide Industries, and Marico today
Looking ahead, Nomura maintained its 'Neutral' rating on Exide Industries share, though it raised the SOTP-based target price to ₹404 from ₹392.
Battery major Exide Industries will rely predominantly on internal accruals to fund the remaining capex for Phase I of its lithium-ion cell manufacturing venture, even as its cash flow from operations dipped in FY25, a company official said. The company reported cash flow of Rs 1,297.9 crore from operations in FY25, down from Rs 1,996.5 crore a year ago, largely due to a sharp rise in receivables and inventory, the official said. Receivables rose to Rs 314 crore from just Rs 13 crore in FY24, while inventory levels more than doubled to Rs 578 crore, exerting pressure on working capital. "The cash flow generation for FY25 was in line with expectations and has lowered mainly due to an increase in working capital, which we look at bringing back to an optimal level in the next 36 months. The operating cash flow (pre-working capital movement) in FY25 was, in fact, better than FY24 by approximately Rs 55 crore," the Exide official told PTI, declining to be quoted. Exide, which invested .
The company's standalone profit after tax fell 10.3% year-on-year to Rs 255 crore ($30.1 million) for the three months ended March 31
The fall in auto stocks came after the US President Donald Trump, on Wednesday, announced that he would impose a 25% tariff on all cars imported into the US that are not manufactured domestically
The government decided to remove import duty on EV batteries and mobile phones to help local producers withstand the potential impact of reciprocal US tariffs
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Exide Industries share price gained 5.3 per cent at Rs 361.60 a piece on the BSE in Wednesday's intraday trade