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Exide Industries Results: Latest Quarterly Results & Analysis

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Exide Industries Ltd. 30 Jul 2026 15:13 PM

Q1FY27 Quarterly Result Announced for Exide Industries Ltd.

Auto Parts & Equipment company Exide Industries announced Q1FY27 results

Consolidated Financial Highlights:

  • Consolidated revenue from operations for Q1FY27 was Rs 5,528.38 crore, an increase of 17.75% YoY from Rs 4,695.12 crore in Q1FY26. Sequentially, it grew by 16.75% from Rs 4,735.13 crore in Q4FY26.
  • Total consolidated income for Q1FY27 stood at Rs 5,555.25 crore, up 17.63% YoY from Rs 4,722.69 crore in Q1FY26 and up 17.21% QoQ from Rs 4,739.37 crore in Q4FY26.
  • Consolidated profit before tax for Q1FY27 was Rs 487.03 crore, up 26.53% YoY compared to Rs 384.91 crore in Q1FY26 and up 48.73% QoQ from Rs 327.45 crore in Q4FY26.
  • Consolidated net profit (attributable to owners of the company) for Q1FY27 reached Rs 350.47 crore, a growth of 28.38% YoY compared to Rs 272.99 crore in Q1FY26. On a QoQ basis, it increased by 62.82% from Rs 215.25 crore in Q4FY26.
  • Consolidated earnings per share (Basic and Diluted) for Q1FY27 was Rs 4.12, compared to Rs 3.21 in Q1FY26 and Rs 2.53 in Q4FY26.

Standalone Financial Highlights:

  • Revenue from operations for Q1FY27 stood at Rs 5,305.05 crore, a growth of 17.63% YoY compared to Rs 4,509.81 crore in Q1FY26. On a QoQ basis, revenue increased by 16.57% from Rs 4,551.11 crore in Q4FY26.
  • Total income for Q1FY27 reached Rs 5,319.09 crore, up 17.47% YoY from Rs 4,527.97 crore in Q1FY26 and up 16.51% QoQ from Rs 4,565.30 crore in Q4FY26.
  • Profit before tax for Q1FY27 was Rs 543.32 crore, representing an increase of 26.44% YoY against Rs 429.70 crore in Q1FY26 and an increase of 29.24% QoQ against Rs 420.41 crore in Q4FY26.
  • Net profit for Q1FY27 stood at Rs 407.26 crore, recording a growth of 27.09% YoY compared to Rs 320.45 crore in Q1FY26. On a QoQ basis, net profit grew by 30.35% from Rs 312.44 crore in Q4FY26.
  • Earnings per share (Basic and Diluted) for Q1FY27 was Rs 4.79, compared to Rs 3.77 in Q1FY26 and Rs 3.68 in Q4FY26.

Business Highlights:

  • The company's business activity falls within a single operating segment of "Storage Batteries and Allied Product," hence no separate segment information is disclosed.
  • Automotive OEM business delivered 25% YoY growth for the 3rd consecutive quarter, continuing to remain one of the fastest-growing businesses for the company.
  • The 2W/4W Replacement business registered its 3rd consecutive quarter of double-digit growth, reflecting sustained demand momentum in the aftermarket segment.
  • Inverters and Solar businesses grew by over 20% YoY, supported by strong summer-season demand and strategic initiatives.
  • Industrial Infrastructure business, excluding Telecom, maintained its low double-digit YoY growth trajectory, supported by demand from infrastructure-linked and industrial applications.
  • Exports business returned to growth with a 20% YoY increase, on a low base, reflecting sustained efforts towards geographic expansion and opening up of shipping routes to major markets.
  • The company infused Rs 100 crore of equity into Exide Energy Solutions Limited (EESL) during July 2026, taking the cumulative equity investment to Rs 4,902 crore.
  • EESL achieved critical project milestones at its Bengaluru gigafactory, with 100% of equipment across all four production lines delivered and installed. Revenue contribution from the Bengaluru plant is expected to commence during FY27.
  • Management Quote

Avik Roy, MD & CEO, said: "We have entered FY27 with confidence, building on the strong momentum achieved in the second half of FY26. The continued benefits of GST rationalisation have further strengthened end-customer demand across the automotive sector, with the replacement market remaining robust. Growth opportunities also remain encouraging across automotive OEMs, home inverters, industrial UPS, solar, other infrastructure-related projects and exports.

Macroeconomic conditions in India remained favourable, supported by positive rural and urban sentiment. At the same time, the geopolitical environment in West Asia remained volatile during the quarter, leading to cost volatility across key inputs. While Lead LME prices in USD terms remained largely range-bound, adverse movement in the Rupee against the US Dollar continued to put pressure on import-linked costs. The Company has taken calibrated price adjustments to mitigate the impact of higher input costs and currency depreciation.

Against this backdrop, the Company delivered broad-based growth across its key businesses. The Automotive OEM business grew by over 25% for the third consecutive quarter, Reserve Power grew by over 20%, and the 2W/4W Replacement business achieved strong double-digit YoY growth. The International business also returned to growth, delivering a 20% YoY increase, reflecting our sustained investments in geographic expansion, new product introductions and deeper customer engagement.

Our continued focus on a better sales mix, product innovation and cost-efficiency initiatives enabled EBITDA margin expansion of 20 bps on a YoY basis, despite elevated cost pressures. The Company remains focused on delivering healthy operating performance while maintaining a strong balance sheet and robust cash flow generation. While demand conditions remain encouraging, the Company continues to closely monitor the evolving macroeconomic, commodity and currency environment.

Our Gigafactory in Bengaluru is progressing well towards operational readiness, with utility installations completed across all four production lines. During the quarter, we successfully dispatched the first cell samples from the facility, marking a significant milestone in our lithium-ion business journey. We remain on track to commence revenue generation during FY27. These achievements reinforce our confidence that we are progressing in the right direction and building a strong foundation in the new energy business."

Result PDF

Auto Parts & Equipment company Exide Industries announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Revenue: Rs 4,551 crore against Rs 4,159 crore during Q4FY25, change 9%.
  • EBITDA: Rs 530 crore against Rs 467 crore during Q4FY25, change 13%.
  • PBT: Rs 420 crore against Rs 343 crore during Q4FY25, change 22%.
  • PAT: Rs 312 crore against Rs 255 crore during Q4FY25, change 22%.
  • EPS: Rs 3.68 for Q4FY26.

FY26 Financial Highlights:

  • Revenue: Rs 17,269 crore against Rs 16,588 crore during FY25, change 4%.
  • EBITDA: Rs 1,943 crore against Rs 1,893 crore during FY25, change 3%.
  • PBT: Rs 1,491 crore against Rs 1,441 crore during FY25, change 3%.
  • PAT: Rs 1,111 crore against Rs 1,077 crore during FY25, change 3%.
  • EPS: Rs 13.07 for FY26.

Avik Roy, MD & CEO, said: 'Q4FY26 built on the gains observed in Q3 - GST rationalization continued to boost end-customer demand across the automotive sector, supported by strong replacement market and energy storage demand.

Macroeconomic conditions in India remained favourable with low inflation, lower Repo rates and positive rural and urban sentiment. However, the West Asia conflict created challenges on two fronts: firstly, the rate escalation and timely availability of LPG, Plastics and Sulphuric Acid; se·condly, freight cost escalation due to closure of multiple shipping routes and unavailability of containers. Sustained depreciation of Rupee vs. USO put further pressure on our input costs.

In this environment, the Company's priority has been on managing profitable growth and focusing on preserving cash. The Company continues to deliver stable performance along with maintaining strong balance sheet and positive cash flow generation, thereby establishing the strength of our brand, trade network and OEM relationships.

During the quarter, the Company achieved 25% growth in the auto OEM business. Inverters and Solar businesses showed robust growth (mid-to-high teens), while auto replacement and infrastructure businesses (excluding te/ecom) also showed double-digit growth. International business was impacted amid geo-political conflicts. We expect the auto replacement, inverters and auto OEM businesses to continue their strong growth momentum into Ql of current financial year.

The Company continues to focus on better sales mix, innovative products and achieving cost efficiencies in its manufacturing facilities. Various investments in improving the Lead Acid Battery manufacturing technologies have started showing results. The Company is planning investments in process automation to further drive operational efficiency and improve quality.

In the lithium-ion cell manufacturing project, installation and commissioning work is progressing in full swing. Customer sample deliveries to begin shortly for the cylindrical cells, and production trials to be initiated for the prismatic cells.'

Result PDF

Auto Parts & Equipment company Exide Industries announced Q3FY26 results

  • Revenue: Rs 4,030 crore against Rs 3,849 crore during Q3FY25, change 5%.
  • EBITDA: Rs 470 crore against Rs 449 crore during Q3FY25, change 5%.
  • PBT: Rs 352 crore against Rs 325 crore during Q3FY25, change 8%.
  • PAT: Rs 258 crore against Rs 245 crore during Q3FY25, change 5%.
  • EPS: 3.03 for Q3FY26.

Avik Roy, MD & CEO, said: 'Q3FY26 revenues showed a strong recovery post slowdown in Q2. GST 2.0 resulted in overall growth in the automotive sector which Exide capitalised on.

Macroeconomic conditions in India continue to be favourable with low inflation, lower income tax rates, lower Repo rates and positive consumer sentiment. However, metals such as Silver, Copper, Sulphur and Tin are at or near a/I-time high rates, contributing to increased cost pressures. Rupee depreciation is further creating challenges on the cost side. In this environment, the company's priority has been on managing profitable growth and focusing on preserving cash. The company continues to deliver stable performance along with maintaining strong balance sheet and positive cash flow generation, thereby establishing the strength of our brand and trade network.

During the quarter, the company achieved 25% growth in the auto OEM segment. The auto replacement and infrastructure segment (exclude telecom) also showed double-digit growth. International business was impacted due to global tariff uncertainties. We expect both the auto replacement and OEM business to continue their strong growth momentum into Q4.

The company continues to focus on better sales mix, innovative products and achieving cost efficiencies in its manufacturing facilities. Various investments in improving the Lead Acid Battery manufacturing technologies have started showing results. The company is planning investments in process automation to further drive operational efficiency and improve quality.

In the lithium-ion cell manufacturing project, installation and commissioning work is going on in full swing. Product validation trials have started for the cylindrical line.'

Result PDF

Auto Parts & Equipment company Exide Industries announced Q2FY26 results

  • Revenue: Rs 4,178 crore against Rs 4,267 crore during Q2FY25.
  • EBITDA: Rs 395 crore against Rs 484 crore during Q2FY25.
  • PBT: Rs 298 crore against Rs 399 crore during Q2FY25.
  • PAT: Rs 221 crore against Rs 298 crore during Q2FY25.
  • EPS: Rs 2.60 for Q2FY26.

Avik Roy, MD & CEO, said: 'We had a strong first half of the quarter until mid-August when the GST cut was announced. The growth was muted in the second half, especially in trade business, driven by channel destocking. However, it is a welcome move by the government as it will drive demand in H2FY26. Global trade situation remained uncertain and impacted our exports.

Domestic Macro outlook is favourable with low inflation, low interest rates and higher disposable incomes. We expect the strong growth momentum, especially in Trade and Automotive OEM business, to be back in Q3.

There is continuous pressure from input material costs. In this environment, the company's priority has been on managing profitable growth and focusing on preserving cash. We proactively cut down production in the second half of the quarter in anticipation of the muted demand from channel partners. This helped us to reduce our inventory levels. Investments in our manufacturing technologies have started showing results which will be further realized as volumes grow.

In our lithium-ion cell manufacturing project, construction work is going on in full swing to ensure timely project completion. We wish to commercialise operations in FY26.'

Result PDF

Auto Parts & Equipment company Exide Industries announced Q1FY26 results

  • Revenue: Rs 4,510 crore compared to Rs 4,313 crore during Q1FY25, change 4.6%.
  • EBITDA: Rs 548 crore compared to Rs 494 crore during Q1FY25.
  • EBITDA margin improved to 12.2% during the quarter vis-a-vis 11.5% in Q1FY25.
  • PBT: Rs 430 crore compared to Rs 374 crore during Q1FY25.
  • PAT: Rs 320 crore compared to Rs 280 crore during Q1FY25.

Avik Roy, MD & CEO, said: "Q1FY26 was characterised by tough macroeconomic conditions, continuous pressure from input costs with low manufacturing sector growth and de-growth in the most of the automotive OEM segments. In this environment, the company's priority has been on managing profitable growth and focusing on better product mix. The Company continues to deliver stable performance along with maintaining strong balance sheet and positive cash flow generation, thereby establishing the strength of our brand and trade network.

During the quarter, we maintained double-digit growth momentum in auto replacement, industrial UPS and solar verticals. Certain segments of the Industrials like power, railways, traction also showed recovery and was able to achieve double digit growth. However, auto OEMs were impacted by lower demand. International business was impacted due to global tariff uncertainties.

We expect overall demand scenario to improve going ahead and will continue to focus on better product mix, innovative products and achieving cost efficiencies in our manufacturing facilities. Various investments in improving our manufacturing technologies have started showing results and will become fully operational during the later part of this financial year.

In our lithium-ion cell manufacturing project, construction work is going on in full swing to ensure timely project completion. We intend to commercialise operations in FY26."

Result PDF

Auto Parts & Equipment company Exide Industries announced Q4FY25 results

  • For the Q4FY25, standalone revenues were Rs 4,159 crore, registering an increase of 3.5% on a YoY basis and 8.1% on a QoQ basis.
  • EBITDA margin moderated to 11.2% during the quarter impacted by high raw material prices. Prices of raw materials such as antimony, have significantly increased in last 6 months, thereby impacting margins on sequential basis. Despite this, EBITDA has increased by 4% on QoQ basis.
  • For the FY25, EBITDA margin and PBT margin were 11.4% and 8.7% compared to 11.7% and 8.8% in the same period last year.
  • Liquidity position remains comfortable with zero debt and high cash flow generation. In FY25, cashflow from operations were Rs 1,298 crore.
  • The Board of Directors have proposed final dividend of Rs 2.0 per equity share for FY25.

Business Highlights:

  • Replacement market demand for 2W and 4W batteries is buoyant, registering double-digit growth in mobility business driven by our technologically advanced products and solutions.
  • Industrial UPS trade business benefits from increasing demand of critical power backup solutions in multiple sectors and solar business posted double-digit growth supported by various solarization programs.
  • However, Home-UPS business was lower than last year because of a weak season and a higher base. Auto OEM business was also impacted by lower demand from vehicle manufacturers.
  • Industrial Infra business performance has improved in fourth quarter as order inflow and order execution is picking up in sectors like power, railways, traction etc., although after a soft performance in last two quarters.

Avik Roy, MD & CEO, Exide industries, said: 'FY25 was characterised by tough macroeconomic conditions, resulting in lower capex and investments across sectors. In this environment, our focus remained on delivering stable performance along with maintaining strong balance sheet and positive cash flow generation profile, thereby establishing our resilience and ability to navigate business challenges.

During the year, while the overall sales increased marginally, we maintained double-digit growth momentum in auto replacement, industrial UPS and solar verticals. However, auto OEMs and industrial verticals were impacted by lower demand. In the international business, we entered newer geographies to increase global presence and market share.

We expect overall demand scenario to improve going ahead and will continue to focus on driving sales and achieving cost efficiencies. Additionally, our year long program on cost excellence, organisational transformation and investment in manufacturing technology has started showing results from March onwards.

In our lithium-ion cell manufacturing project, construction work is going on in full swing to ensure timely project completion. We intend to commercialise operations in FY26.'

Result PDF

Auto Parts & Equipment company Exide Industries announced Q3FY25 results

  • In Q3FY25, standalone revenues stood at Rs.3,849 crore compared to Rs.3,841 crore in Q3FY24.
  • During the Q3FY25, EBITDA expanded by 20 bps YoY to 11.7%, up from 11.5% in Q3FY24. On a sequential basis, EBITDA Margin expanded by 40 bps, up from 11.3% in Q2FY25.
  • In 9MFY25, operating profitability has remained steady, with EBITDA margin of 11.5% vis-a-vis 11.3% in 9MFY24.

Avik Roy, MD & CEO, said: 'Our operating profitability remains steady with EB/TOA and PBT margins of 11. 7% and 8.5%, respectively, in the current quarter, benefitting from relatively stable commodity prices and focus on cost excellence. Although overall sales remained flattish in the quarter, attributable to a slowdown in govt. capex and other macroeconomic factors, we observed promising growth in the auto replacement and auto exports market segments.

Near-term outlook is positive, with replacement markets remaining buoyant and expectation of rebound of govt. & private capex, which has the potential to drive up industrial demand. Commodity prices are expected to remain broadly stable. Our diversified product portfolio along with unparallel brand recall, should enable us to capture growth across sectors in which we operate and deliver a strong performance going forward.

In our lithium-ion cell manufacturing project, construction work is going on in full swing and the team is working relentlessly to ensure project completion. We intend to commercialise operations in FY26.'

Result PDF

Auto Parts & Equipment company Exide Industries announced H1FY25 & Q2FY25 results

Financial Highlights:

  • Revenue from operations have registered a growth of 4% and 5% respectively, in Q2FY25 and H1FY25.
  • In the current quarter, EBITDA and PBT margins were 11.3% and 9.4% compared to 11.8% and 9.4% in the same quarter of the previous year.
  • For the first half of the current financial year, EBITDA and PBT margins increased to 11.4% and 9.0% respectively, compared to 11.2% and 8.6% in H1FY24.
  • Efficient working capital management along with current profitability levels enabled us to maintain our track record of generating positive cashflows. Our balance sheet remains comfortable with zero debt and high net worth.

Business Highlights:

  • The two-wheeler and four-wheeler replacement markets experienced robust demand, leading to double-digit revenue growth.
  • Industrial-UPS and Solar also enjoyed strong demand momentum during the quarter. However, the demand scenario was soft in the Home-UPS segment due to the early onset of monsoons.
  • Excess Channel Inventories for Auto OEMs dampened demand across the Auto OEM space.
  • Exports Market Demand has been encouraging and we are making strides entering new geographies and strengthening our position in the existing ones. Our focus is on enriching the product portfolio and broadening the distribution network to address international demand.

Avik Roy, MD & CEO, Exide Industries, said: ‘In the first half of the year, we have delivered EBITDA and PBT margin of 11.4% and 9.0%, respectively. Efficient procurement coupled with cost optimisation initiatives has led to stability in operating performance, despite high commodity prices. For the near term, business outlook is positive and commodity prices have started easing, which is expected to support profitability.

At Exide, we are making multiple strides and are driving strategic initiatives to leverage synergies across our business verticals. We have undertaken organisational and business realignment which will enable us to strengthen our go-to-market strategy and to capitalise on the strong market demand. With our latest technologically advanced products and services and focus on cost efficiencies, we aspire to achieve strong growth in sales and profitability.

Onsite construction works of the lithium-ion project are proceeding well. All the functions including manufacturing, procurement, R&D, IT, finance, quality & safety, HR, etc. are working relentlessly to ensure project completion.’

Result PDF

Auto Parts & Equipment company Exide Industries announced Q1FY25 results:

Financial Highlights: 

  • Revenue from operations have grown by 5.9% in Q1FY25 driven by volume growth across business verticals.
  • We have recorded an impressive growth in operating profitability. Despite increase in commodity prices, EBITDA increased by 14.4% during the quarter, supported by revenue growth and cost optimisation initiatives.
  • EBITDA margins inched up to 11.5% in the current quarter compared to 10.6% in the same period last year. PBT grew by 16.1% year-on-year and PBT margin was 8.7% in Q1FY25 (7.9% in Q1FY24).
  • Cash flow generation remains healthy, and we continue to maintain a comfortable balance sheet with zero debt.

Commenting on the performance - Avik Roy, MD & CEO, said 'In the current quarter, our sales growth of 6% and profit before tax growth of 16% provides a perfect start to the year. Both automobile and industrial verticals have delivered growth in the current quarter and near-term drivers are promising. Despite rising raw material prices, cost optimisation initiatives led to lower cost of production and gross margin improvement of nearly 240 basis points on a y-o-y basis. EBITDA margin also increased to 11.5%, which is in line with our focus on improving the overall profitability.

In our lithium-ion project, onsite construction and installation of production line equipment is currently underway. Organisational recruiting, manpower training, customer engagement, supply chain establishment and all other necessary functions are progressing well to meet the defined timeline of project completion.
Demand for energy and energy solutions is expected to rise significantly from multiple sectors. Our emphasis on innovation, technological advancement, digitalisation initiatives along with our solid financial foundation, will enable us to benefit from these growth opportunities. Also, though commodity prices have started inching higher, we will aim to maintain our trajectory of delivering healthy profits over the medium-term.'

Result PDF

Auto parts & Equipment company Exide Industries announced Q4FY24 & FY24 results:

Financial Highlights:

Revenue from operations:

  • Q4FY24: Rs 4,009 crore, a 13% increase from Q4FY23.
  • FY24: Rs 16,029 crore, a 10% increase compared to FY23.

EBITDA:

  • Q4FY24: Rs 516 crore, up by 41% YoY.
  • FY24: Rs 1,871 crore, a 19% increase from YoY.

Profit Before Tax (PBT):

  • Q4FY24: Rs 382 crore, marking a 37% growth from Q4FY23.
  • FY24: Rs 1,410 crore, 16% higher than FY23.

Profit After Tax (PAT):

  • Q4FY24: Rs 284 crore.
  • FY24: Rs 1,053 crore.

Earnings Per Share (EPS):

  • Q4FY24: Rs 3.34.
  • FY24: Rs 12.39.

Dividend:

  • The Board has proposed a final dividend of Rs 2.00 per equity share for FY24.

Commenting on the performance - Subir Chakraborty, MD & CEO, said: "We had one of the best quarterly performances, with sales and operating profits growing by 13% and 41%, respectively. Demand scenario was upbeat, and our diversified and technologically advanced product offerings helped us capture the opportunities across end customer markets. EBITDA margin increased to 12.9% during the quarter from 10.4% in the same quarter last year.

For the full financial year, our performance was commendable with sales and operating profits growing by 10% and 19%, respectively. Outlook is positive both for the Automotive and Industrial verticals and we aim to deliver healthy sales growth and increase in profitability in near-tomedium term.

Our lithium-ion cell manufacturing project is progressing well and is expected to be commissioned within defined timelines. We are positive about the future and are very well positioned to capitalize on opportunities both in the lead-acid as well as in the lithium-ion battery space."

Result PDF

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