Exide Industries shares climb new ATH on Q4 EBITDA and margins beat

The auto-battery maker Exide Industries in Tuesday’s trade (April 30, 2024) released its March quarter earnings. The company’s standalone revenue came in at Rs 4009 crore as against Rs 3543 crore in the same period of the preceding year. Standalone net profit at the company also increased year-on-year to Rs 284 crore as against 208 crore in the March quarter of FY23.

Post the stellar earnings, the stock after marking its fresh all-time high of Rs 481.5, gaining as much as 5.7 per cent, traded lower at Rs 474.85 per share on the BSE.

Sales growth at the firm had been impressive, with revenue from operating increasing by 13 per cent and 10 per cent, respectively in Q4FY24 and FY24.

EBITDA increased by 41 per cent on year, and EBITDA margin was 12.9 per cent in Q4FY24 compared to 10.4 per cent in the same quarter of the previous year. Profitability was supported by strong sales growth and low raw material costs.

The company in its release said that it delivered an excellent performance for the current fiscal year as well, with EBITDA and PBT growing by 19 per cent and 16 per cent respectively as compared to FY23. 

Furthermore, the company also resorted to cost optimisation measures which resulted in lower expenses at 13.1 per cent of total sales as against 13 per cent in FY23.

Shares of Exide Industries have shown a massive run-up of 141 per cent in the last one year.

The consensus recommendation of the stock by 23 analysts is hoid, with 9 of them suggesting strong buy, Trendlyne data shows.

Exide Industries Limited manufactures, markets and sells a range of lead acid storage batteries. The Company makes batteries for the automotive, power, telecom, infrastructure projects, computer industries, railways, mining and defense sector.