- 06 May 2022
- ICICIdirect Research
Exide posts muted set of Q4FY22 numbersEXIDEIND - 211 Change: 3.90 (1.88 %)
News: Exide Industries reported muted performance in Q4FY22. Net sales for the quarter came in at Rs 3,408 crore, up 6.6% QoQ. EBITDA in Q4FY22 stood at Rs 349 crore with corresponding EBITDA margins at 10.2%, down 150 bps QoQ. PAT in Q4FY22 stood at Rs 4119.7 crore, including exceptional gain of Rs4693.8 crores on disposal of 100% stake in Exide Life Insurance as on 1st Jan 2022. PBT was largely flat on QoQ basis aided by higher other income.
Views: Exide closed year on muted note with annual EBITDA coming at Rs1395.6 crores with EBITDA margin at 11.3% (down 220 bps YoY). EBITDA margins in Q4FY22 were lowest for the whole year at 10.2% tracking steep rise in cost of material which rose ~310 bps QoQ. Exide is the leader in lead acid battery space. With the vision to be a prominent player in the new energy space which includes Li-On battery, it has already announced setting up of multi-gigawatt lithium-ion cell manufacturing plant with technology tie up with a Chinese player (SVOLT) and is in advance stages of procuring land for this purpose.