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Entry Price

194.00

Target

225.00

Recommend Date

01-02-2021

Return

15.98 %
BUY

Date : 01-02-2021

Exide Industries (EIL) reported a healthy Q3FY21 performance. Net sales for the quarter were at | 2,801 crore (up 16.2% YoY). EBITDA in Q3FY21 was at | 403 crore with corresponding EBITDA margins at 14.4% (up 14 bps QoQ, 112 bps YoY). Resilience in margins was on account of gross margin expansion (up ~90 bps QoQ). Consequent standalone PAT for the quarter came in at | 241 crore. EIL declared an interim dividend of | 2/share for FY21.