Exide Dividend: Battery maker announces final dividend of Rs 2 per share

Exide Industries Dividend: Exide Industries on Monday announced a dividend of Rs 2 per equity share of face value of Re 1 each — a 200 per cent payout. This is a final dividend for the financial year ended March 31, 2023.

The dividend is subject to the approval of shareholders at the company's 76th annual general meeting (AGM), scheduled on August 8.

Exide Q4 results

India's largest automotive battery maker, Exide Industries, reported a consolidated net profit of Rs 181.1 crore for the quarter ended March 2023, a fall of 95.4 per cent compared with the corresponding period a year ago. Its revenue grew 4.4 per cent to Rs 3,676.8 crore compared with the year-ago period, according to a regulatory filing.

The company said raw material prices impacted its profitability sequentially. However, Exide also said it is positive on the demand scenario in the near term and remains focused on profitable growth.

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