Makes and sells storage batteries and allied products, with lead-acid batteries as the core offering sold across automotive OEM and replacement markets, inverters and home UPS, industrial applications, solar, telecom, e-rickshaws and exports. Storage batteries and allied products was the dominant segment in the most recent segment disclosure (Rs 15,052.97 crore for the year ended 2023-03-31 versus Rs 25.19 crore for 'Others'); FY26 consolidated revenue was Rs 17,995.35 crore with a 10.9% EBITDA margin. Q4 FY26 was the highest-ever quarter with revenue up 9.4% YoY and auto OEM volumes up 25% YoY; the solar vertical crossed Rs 1,000 crore in FY26 annual revenue and the UPS business generated approximately Rs 2,300 crore. The company is building out lithium-ion via wholly owned subsidiary Exide Energy Solutions (EESL), which has received Rs 4,902 crore of equity and is setting up a Bengaluru gigafactory with 6 GWh of planned capacity split between 3 GWh NMC cylindrical and 3 GWh LFP prismatic cells. EESL has installed equipment across four production lines and dispatched first cell samples, with lithium-ion revenue expected from FY27. Materials account for 67.6% of revenue — sulfur, a key input, rose five-fold to Rs 75/kg, prompting four price hikes; the company is debt-free with an ICRA AAA rating. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Storage batteries & allied products, Others. Diversified battery manufacturer with lead-acid core and lithium-ion build-out underway
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 12,789 | 15,078 | 16,770 | 17,238 | 17,995 |
| EBITDA (ex other income) | 1,399 | 1,589 | 1,817 | 1,798 | 1,860 |
| margin % | 10.9 | 10.5 | 10.8 | 10.4 | 10.3 |
| Owners' profit | 4,367 | 823 | 877 | 795 | 854 |
| EPS, as reported (₹) | 51.38 | 9.68 | 10.31 | 9.35 | 10.05 |
| ROE % · ROCE % | 41.0 · 9.2 | 7.4 · 10.3 | 6.8 · 9.8 | 5.7 · 8.6 | 6.2 · 8.9 |
| Debt / equity (x) | 0.02 | 0.03 | 0.05 | 0.11 | 0.08 |
| Cash from operations | 61 | 768 | 1,531 | 1,273 | 2,413 |
| Capex | (666) | (996) | (1,876) | (1,949) | (1,153) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,450 | 4,017 | 4,335 | 4,695 | 4,365 | 4,201 | 4,735 | 5,528 |
| Profit before tax | 333 | 238 | 289 | 385 | 253 | 283 | 328 | 486 |
| Net profit | 233 | 158 | 188 | 275 | 174 | 195 | 217 | 351 |
| EPS (₹) | 2.72 | 1.84 | 2.20 | 3.21 | 2.02 | 0.00 | 2.53 | 4.12 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,73,567 | 39.6 | 3.98 | 15.4 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,42,736 | 60.4 | 9.61 | 35.1 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 92,992 | 131.7 | 9.73 | 33.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 69,386 | 57.6 | 9.56 | 31.7 | 17.7 | 15.7 | 25.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Newspaper notice on transfer of unclaimed shares to IEPF | compliance | minimal | — | — |
| 25 Aug 2026 · Exide Industries trading window closed for Q2 FY27 results | compliance | minimal | — | — |
| 18 Aug 2026 · Exide invests Rs 200 cr more in EESL for lithium-ion battery plant | capex operations | high | — | — |
| 6 Aug 2026 · Exide Industries Q1 FY27 earnings call transcript filed | investor communications | medium | — | — |
| 3 Aug 2026 · Audio recording of Q1 FY27 earnings call uploaded on website | investor communications | low | — | — |
| 1 Aug 2026 · Exide Industries Q1 FY27 Investor Presentation: PAT up 27%, revenue up 17.6% | investor communications | medium | — | — |
| 30 Jul 2026 · Exide Q1 FY27: revenue up 17.6%, PAT up 27.1%, margins expand | results | high | — | — |
| 30 Jul 2026 · Exide Q1 FY27: PAT up 27%, revenue up 17.6% YoY | results | high | — | — |
| 29 Jul 2026 · Exide Industries Q1 FY27 earnings call scheduled for Aug 3, 2026 | board shareholder meetings | low | — | — |
| 16 Jul 2026 · Special window for re-lodgement of physical share transfer requests | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 10.4 |
| SCHAEFFLER INDIA LIMITED | 61,739 | 49.3 | 10.04 | — | 10.4 | 14.1 | — | 19.4 |
| TUBE INVEST OF INDIA LTD | 50,454 | 83.1 | 3.55 | 19.5 | 7.9 | 12.4 | 30.3 | 10.6 |
| SONA BLW PRECISION FRGS L | 49,016 | 70.4 | 7.99 | 42.6 | 10.3 | 12.9 | — | 25.1 |
| ENDURANCE TECHNO. LTD. | 37,964 | 39.1 | 5.55 | 18.6 | 13.9 | 15.6 | 17.4 | 13.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 47.6 | 26.7 | 96 of 123 | 22% |
| P/B | 2.5 | 3.5 | 44 of 116 | 63% |
| ROCE | 8.1 | 12.6 | 87 of 125 | 31% |
| ROE | 6.2 | 11.6 | 89 of 119 | 25% |
| Debt / Equity | 0.1 | 0.3 | 36 of 119 | 70% |
| EBITDA margin | 11.7 | 12.2 | 65 of 118 | 45% |
| Revenue growth | 17.8 | 20.2 | 68 of 113 | 40% |
| Profit growth | 27.9 | 24.4 | 54 of 115 | 54% |
| Market cap | 35092 | 1542 | 9 of 125 | 94% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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