Please find enclosed Transcript of Earnings Call held on 6th May 2026.
EXIDEIND · price
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Exide Industries reported its highest-ever quarterly revenue in Q4 FY26 with 9.4% YoY revenue growth. Nearly 92% of the business grew by double digits, driven by strong auto OEM (up ~25% YoY), home UPS (highest-ever Q4 sales), and solar crossing Rs 1,000 crore for the full year. The company maintained EBITDA margin at 11.7% sequentially despite a Rs 150 crore negative material cost impact from commodity inflation. Sulfur prices have surged 5x from Rs 15/kg to Rs 75/kg over the past year. Management has taken four rounds of price increases since January totaling 5-6% to offset costs. The lithium-ion cell manufacturing project has received Rs 4,802 crore equity investment so far, with cylindrical cell samples starting this month and prismatic line trials next. Management expects the core lead-acid business to achieve high single-digit to early double-digit growth, with a medium-term CAGR of around 11%.
Strong quarterly performance with margin resilience despite commodity headwinds demonstrates operational strength. The upcoming lithium-ion commercial supplies and ongoing price hike actions provide near-term catalysts, though commodity inflation remains a key monitorable for FY27 margins.