Exide Industries Limited has informed the Exchange about Transcript
EXIDEIND · price
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Exide Industries hosted an earnings call for Q4 FY25, where 75% of the business registered double-digit growth, leading to an overall 4% sales growth and 8% sequential growth. The company reported a strong AGM battery export during the quarter. However, operating profitability was hit by a sharp surge in antimony prices (from $11,000 to $60,000/ton), causing a negative impact of around INR 50 crores in Q4, plus INR 25 crores in one-time write-offs. Adjusted EBITDA margin was close to 13%. The lithium-ion project saw additional investment of INR 1,000 crores in FY25 plus INR 300 crores in April 2025, taking total equity to INR 3,602 crores, with trial production expected within CY2025. Management discussed ongoing customer engagements including a binding agreement with Hyundai, and highlighted growth in solar (~25-27%), motorcycle batteries (Q4 growth of 18%), and IUPS segments, while telecom and home inverters remained weak.
Margin pressure from antimony is a near-term concern but the company is passing on price hikes, and adjusted EBITDA margin of ~13% suggests underlying strength. The lithium-ion project remains in capex mode with no near-term returns visibility, while the lead-acid business shows resilience with zero debt and strong cash flows.