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Exide Industries on standalone basis, topline for the quarter at Exide came in at ₹5,305 crore

ICICIdirect Research 31 Jul 2026 DISCLAIMER

News: Exide Industries on standalone basis, topline for the quarter at Exide came in at ₹5,305 crore, up ~18% YoY. EBITDA for Q1FY27 came in at ₹655 crore, with EBITDA margins at 12.4% (up 70 bps QoQ). PAT in Q1FY27 stood at ₹407 crore (up 27% YoY). During July it has further invested ₹ 100 crore in its wholly owned subsidiary, "Exide Energy Solutions Limited" (EESL, executing Li-On cell manufacturing plant). With this investment the total investment made by the Company in EESL till date stands at ~₹ 4,902 crores.

View: As per company’s commentary its Auto OEM business was the fastest growing vertical during the quarter carrying the momentum since past 3 quarters, with growth of 25% + on YoY basis. 2W/4W Replacement business registered its 3rd consecutive quarter of double-digit growth whereas Industrial Infrastructure business, excluding Telecom, maintained its low double-digit YoY growth trajectory. Inverters and Solar businesses grew by over 20% YoY and Exports business returned to 20%+ growth. On the Li-On project, the company shared revenue from the new plant is expected to start during FY27. On the positive side the first NMC (Nickel Manganese Cobalt) cylindrical line commenced customer sample deliveries during Q1 FY27, while the LFP (Lithium Iron Phosphate) prismatic line has also recently commenced sample supplies for 3-wheeler and telecom applications. 

Impact: Positive

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