Exide Industries Ltd is primarily engaged in the manufacturing of storage batteries and allied products in India.[1]
Products[1][2]The company offers a diversified product portfolio, with batteries from 2.5Ah to 20,200Ah.1) B2C Aftermarket:The company manufactures batteries for 2W, 3W, 4W, E-rickshaws, UPS, and solar for trade and aftermarket.2) Institutional B2B:The company manufactures batteries for 2W, 3W, and 4W OEMs. In the infrastructure segment, it serves industries such as telecom, railways, power projects, traction, data centers, and industrial UPS. Additionally, it manufactures specialized batteries for submarines.3) International Business:It manufactures automotive, traction, and UPS batteries. It has a presence in over 60 countries with nearly 8% of the standalone revenue. In FY25, onboarded 14 distributors for automotive batteries and 28 accounts for industrial batteries.[3]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Samvardh. Mothe. | 114.40 | 35.99 | 120742.76 | 0.50 | 845.63 | -3.25 | 30172.97 | 8.49 | 13.66 | 117367.72 | 8.86 | 3348.88 | 851.18 | 3.29 | 4.60 | 0.53 |
| 2. | Bosch | 36795.00 | 47.80 | 108521.84 | 1.39 | 554.20 | 10.82 | 4794.80 | 9.11 | 21.11 | 18959.70 | 13.11 | 2271.53 | 554.20 | 7.76 | 10.70 | 0.01 |
| 3. | Bharat Forge | 1453.00 | 64.25 | 69466.31 | 0.59 | 299.28 | 22.83 | 4031.93 | 9.31 | 12.18 | 15268.83 | 17.66 | 1080.93 | 299.20 | 7.40 | 4.72 | 0.71 |
| 4. | Uno Minda | 1189.30 | 62.78 | 68628.74 | 0.19 | 322.79 | 27.14 | 4814.03 | 13.41 | 18.83 | 18015.43 | 11.54 | 1093.46 | 303.99 | 11.02 | 9.36 | 0.46 |
| 5. | Schaeffler India | 3785.60 | 52.99 | 59170.33 | 0.73 | 306.65 | 24.08 | 2360.14 | 13.86 | 25.67 | 8834.57 | 18.98 | 1117.62 | 306.65 | 10.76 | 14.85 | 0.01 |
| 6. | Tube Investments | 2345.00 | 72.37 | 45378.03 | 0.15 | 302.05 | -9.73 | 5522.64 | 12.15 | 21.80 | 20793.88 | 9.22 | 626.78 | 186.66 | 6.08 | 7.33 | 0.09 |
| 7. | Endurance Tech. | 2519.70 | 40.61 | 35442.79 | 0.40 | 227.27 | 11.97 | 3582.82 | 23.01 | 17.26 | 12724.36 | 13.48 | 873.65 | 227.27 | 5.68 | 9.21 | 0.20 |
| 8. | Exide Inds. | 344.00 | 28.13 | 29240.00 | 0.58 | 220.74 | -25.87 | 4178.29 | -2.09 | 10.24 | 16696.15 | 11.13 | 1040.78 | 220.74 | 1.91 | 5.89 | 0.02 |
| – | Median: 125 Co. | 431.95 | 28.35 | 1214.51 | 0.38 | 12.92 | 11.39 | 213.15 | 11.11 | 14.51 | 827.24 | 12.01 | 38.91 | 10.77 | 2.99 | 6.4 | 0.38 |
Standalone figures in ₹ crores
| Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 3,907 | 3,719 | 3,412 | 3,543 | 4,073 | 4,107 | 3,841 | 4,009 | 4,313 | 4,267 | 3,849 | 4,159 | 4,510 | 4,178 |
Expenses | 3,520 | 3,306 | 3,011 | 3,176 | 3,640 | 3,624 | 3,401 | 3,493 | 3,818 | 3,784 | 3,400 | 3,693 | 3,962 | 3,784 |
Operating Profit | 387 | 412 | 401 | 367 | 432 | 483 | 440 | 516 | 494 | 484 | 449 | 467 | 548 | 395 |
Other Income | 32 | 36 | 23 | 41 | 19 | 39 | 23 | 3 | 14 | 53 | 13 | 16 | 18 | 42 |
Profit before tax | 303 | 330 | 301 | 281 | 322 | 385 | 321 | 382 | 374 | 399 | 325 | 343 | 430 | 298 |
Tax % | 25% | 25% | 26% | 26% | 25% | 25% | 25% | 26% | 25% | 25% | 25% | 26% | 25% | 26% |
Net Profit | 226 | 246 | 223 | 208 | 242 | 287 | 240 | 284 | 280 | 298 | 245 | 255 | 320 | 221 |
EPS in Rs | 2.66 | 2.90 | 2.63 | 2.44 | 2.85 | 3.38 | 2.83 | 3.34 | 3.29 | 3.50 | 2.88 | 3.00 | 3.77 | 2.60 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 5,909 | 6,802 | 6,795 | 7,583 | 9,186 | 10,588 | 9,857 | 10,041 | 12,410 | 14,592 | 16,029 | 16,588 | 16,696 |
Expenses | 5,093 | 5,892 | 5,773 | 6,499 | 7,942 | 9,175 | 8,488 | 8,684 | 11,011 | 13,023 | 14,155 | 14,694 | 14,838 |
Operating Profit | 816 | 910 | 1,021 | 1,084 | 1,244 | 1,413 | 1,369 | 1,357 | 1,399 | 1,569 | 1,874 | 1,894 | 1,858 |
Other Income | 35 | 31 | 47 | 103 | 14 | 146 | 40 | 65 | 4,774 | 132 | 83 | 96 | 90 |
Interest | 2 | 3 | 3 | 5 | 7 | 7 | 11 | 25 | 40 | 30 | 50 | 45 | 43 |
Depreciation | 126 | 140 | 158 | 206 | 246 | 314 | 363 | 379 | 413 | 456 | 497 | 504 | 509 |
Profit before tax | 723 | 798 | 908 | 976 | 1,006 | 1,239 | 1,035 | 1,018 | 5,720 | 1,215 | 1,410 | 1,441 | 1,396 |
Net Profit | 487 | 546 | 624 | 694 | 668 | 844 | 826 | 758 | 4,684 | 904 | 1,053 | 1,077 | 1,041 |
EPS in Rs | 5.73 | 6.42 | 7.35 | 8.16 | 7.86 | 9.93 | 9.71 | 8.92 | 55.11 | 10.63 | 12.39 | 12.67 | 12.25 |
Dividend Payout % | 31% | 34% | 33% | 29% | 31% | 24% | 42% | 22% | 4% | 19% | 16% | 16% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 |
Reserves | 3,646 | 3,970 | 4,426 | 4,879 | 5,304 | 5,902 | 6,211 | 6,809 | 10,513 | 11,125 | 13,052 | 14,357 | 15,256 |
Borrowings | 0 | 18 | 103 | 170 | 0 | 0 | 28 | 286 | 290 | 278 | 396 | 386 | 381 |
Other Liabilities | 1,225 | 1,330 | 1,524 | 1,642 | 2,008 | 2,185 | 1,918 | 2,450 | 2,476 | 2,564 | 3,334 | 3,991 | 3,859 |
Total Liabilities | 4,957 | 5,403 | 6,138 | 6,776 | 7,397 | 8,172 | 8,242 | 9,629 | 13,364 | 14,051 | 16,866 | 18,819 | 19,581 |
Fixed Assets | 998 | 1,090 | 1,265 | 1,546 | 1,958 | 2,297 | 2,374 | 2,672 | 2,808 | 2,850 | 2,865 | 2,876 | 2,811 |
Gross Block | 2,014.45 | 2,226.07 | 1,420.55 | 1,905.83 | 2,558.84 | 3,206.92 | 3,637.39 | 4,308.87 | 4,860.36 | 5,347.26 | 5,792.53 | 6,241.53 | – |
Accumulated Depreciation | 1,016.43 | 1,135.91 | 155.14 | 359.83 | 600.51 | 909.65 | 1,263.77 | 1,637.25 | 2,052.78 | 2,497.01 | 2,927.29 | 3,365.59 | – |
CWIP | 51 | 100 | 186 | 141 | 234 | 255 | 297 | 201 | 312 | 101 | 202 | 138 | 134 |
Investments | 1,967 | 1,896 | 2,698 | 2,674 | 1,969 | 2,199 | 2,071 | 3,059 | 6,036 | 6,341 | 8,621 | 9,972 | 11,469 |
Other Assets | 1,941 | 2,317 | 1,989 | 2,414 | 3,236 | 3,421 | 3,501 | 3,698 | 4,208 | 4,759 | 5,179 | 5,834 | 5,166 |
Total Assets | 4,957 | 5,403 | 6,138 | 6,776 | 7,397 | 8,172 | 8,242 | 9,629 | 13,364 | 14,051 | 16,866 | 18,819 | 19,581 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 647 | 324 | 1,340 | 430 | 517 | 1,004 | 914 | 1,413 | 20 | 848 | 1,997 | 1,298 |
Cash from Investing Activity | -434 | -213 | -1,146 | -307 | -28 | -766 | -325 | -1,277 | 275 | -888 | -1,617 | -1,180 |
Cash from Financing Activity | -168 | -202 | -150 | -178 | -421 | -252 | -509 | -199 | -225 | -46 | -230 | -224 |
Net Cash Flow | 45 | -90 | 44 | -55 | 67 | -14 | 80 | -62 | 71 | -86 | 149 | -106 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 32 | 30 | 32 | 30 | 37 | 37 | 30 | 32 | 35 | 32 | 29 | 35 |
Inventory Days | 110 | 122 | 98 | 118 | 107 | 94 | 128 | 130 | 105 | 107 | 107 | 123 |
Days Payable | 61 | 52 | 64 | 59 | 66 | 60 | 60 | 91 | 69 | 55 | 76 | 91 |
Cash Conversion Cycle | 82 | 100 | 66 | 89 | 79 | 72 | 98 | 71 | 71 | 84 | 60 | 67 |
Working Capital Days | 41 | 52 | 21 | 30 | 46 | 41 | 53 | 40 | 43 | 49 | 36 | 39 |
ROCE % | 20% | 21% | 21% | 20% | 20% | 20% | 17% | 15% | 12% | 11% | 11% | 10% |
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Stock Analysis
Exide Industries Ltd is primarily engaged in the manufacturing of storage batteries and allied products in India.
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