Exide Industries Ltd. (currently trading at ₹419) is India’s largest manufacturer of lead-acid batteries and a growing player in lithium-ion energy storage solutions. With a legacy of over seven decades, the company serves automotive, industrial, submarine, solar, and e-mobility segments. Its wholly owned subsidiary, Exide Energy Solutions Ltd., is spearheading the lithium-ion battery cell manufacturing initiative in Bengaluru, targeting both EV and stationary storage markets.
Exide Industries Ltd. – FY22–FY25 Snapshot
Sales – ₹16,770 Cr → ₹17,238 Cr → ₹18,420 Cr → ₹19,850 Cr Growth driven by automotive battery recovery, inverter demand, and initial lithium traction
Net Profit – ₹882 Cr → ₹800 Cr → ₹920 Cr → ₹1,050 Cr Dip in FY23 due to capex absorption capacities stabilize
Operating Performance – Strong → Moderate → Strong → Strong Margins normalizing post greenfield
Dividend Yield (%) – 0.50% → 0.55% → 0.60% → 0.65% Progressive payout aligned with cash-flow visibility
Equity Capital – ₹85 Cr (constant) No dilution; lean capital structure
Total Debt – ₹1,200 Cr → ₹1,350 Cr → ₹1,420 Cr → ₹1,480 Cr Leverage rising with lithium-ion expansion
Fixed Assets – ₹6,850 Cr → ₹7,420 Cr → ₹8,100 Cr → ₹9,200 Cr Capex focused on Bengaluru lithium plant, automation, and backward integration
Institutional Interest & Ownership Trends
Promoter holding stands at 46.04%, with no pledging.. FIIs and DIIs maintain strong exposure due to Exide’s leadership in energy storage and EV transition.. Delivery volumes reflect long-term accumulation by ESG, infra, and auto-linked funds.
Business Growth Verdict
Exide is scaling across legacy lead-acid and new lithium-ion verticals. Margins are stabilizing as cell-making operations ramp up. Debt levels are rising but in line with strategic growth investments. Capex supports long-term competitiveness and energy-transition roadmap
Management Con Call
Management confirmed a fresh ₹100 Cr infusion into Exide Energy Solutions Ltd., taking total investment to ₹3,802 Cr. Bengaluru lithium cell plant on track for 12 GWh capacity across two phases. EESL reported FY25 turnover of ₹116.9 Cr and net loss of ₹209.1 Cr, typical of early-stage ramp-up. Focus remains on EV battery modules, stationary storage packs, and backward integration of key battery chemicals. FY26 outlook includes mid-teen revenue growth and margin recovery; meaningful lithium-ion contribution expected from FY27 onward
Final Investment Verdict
Exide Industries Ltd. offers a compelling energy-storage play built on a heritage lead-acid franchise and aggressive lithium-ion expansion. Its disciplined capital structure, rising cash flows, and strategic capex make it suitable for accumulation by investors seeking exposure to India’s mobility electrification and renewable storage themes.
Exide Industries Ltd. – FY22–FY25 Snapshot
Sales – ₹16,770 Cr → ₹17,238 Cr → ₹18,420 Cr → ₹19,850 Cr Growth driven by automotive battery recovery, inverter demand, and initial lithium traction
Net Profit – ₹882 Cr → ₹800 Cr → ₹920 Cr → ₹1,050 Cr Dip in FY23 due to capex absorption capacities stabilize
Operating Performance – Strong → Moderate → Strong → Strong Margins normalizing post greenfield
Dividend Yield (%) – 0.50% → 0.55% → 0.60% → 0.65% Progressive payout aligned with cash-flow visibility
Equity Capital – ₹85 Cr (constant) No dilution; lean capital structure
Total Debt – ₹1,200 Cr → ₹1,350 Cr → ₹1,420 Cr → ₹1,480 Cr Leverage rising with lithium-ion expansion
Fixed Assets – ₹6,850 Cr → ₹7,420 Cr → ₹8,100 Cr → ₹9,200 Cr Capex focused on Bengaluru lithium plant, automation, and backward integration
Institutional Interest & Ownership Trends
Promoter holding stands at 46.04%, with no pledging.. FIIs and DIIs maintain strong exposure due to Exide’s leadership in energy storage and EV transition.. Delivery volumes reflect long-term accumulation by ESG, infra, and auto-linked funds.
Business Growth Verdict
Exide is scaling across legacy lead-acid and new lithium-ion verticals. Margins are stabilizing as cell-making operations ramp up. Debt levels are rising but in line with strategic growth investments. Capex supports long-term competitiveness and energy-transition roadmap
Management Con Call
Management confirmed a fresh ₹100 Cr infusion into Exide Energy Solutions Ltd., taking total investment to ₹3,802 Cr. Bengaluru lithium cell plant on track for 12 GWh capacity across two phases. EESL reported FY25 turnover of ₹116.9 Cr and net loss of ₹209.1 Cr, typical of early-stage ramp-up. Focus remains on EV battery modules, stationary storage packs, and backward integration of key battery chemicals. FY26 outlook includes mid-teen revenue growth and margin recovery; meaningful lithium-ion contribution expected from FY27 onward
Final Investment Verdict
Exide Industries Ltd. offers a compelling energy-storage play built on a heritage lead-acid franchise and aggressive lithium-ion expansion. Its disciplined capital structure, rising cash flows, and strategic capex make it suitable for accumulation by investors seeking exposure to India’s mobility electrification and renewable storage themes.
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คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน