Exide Industries Limited (IN:EXIDEIND)
:EXIDEIND
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Exide Industries Limited
(EXIDEIND)
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Rating:61Neutral
Price Target:
₹381.00
▲(15.44% Upside)
Action:ReiteratedDate:05/06/26
The score is primarily supported by a conservative balance sheet and improving (but historically volatile) cash flow, alongside positive technical momentum. These positives are offset by a demanding valuation (high P/E and low yield) and only moderate profitability with a 2026 margin dip and uneven earnings quality.
Positive Factors
Conservative balance sheet & low leverage
Very low debt-to-equity and stable equity provide durable financial flexibility, enabling the company to absorb cyclical downturns, fund capex or strategic investments without large refinancing risk, and maintain operations across multi-year industrial and auto cycles.
Negative Factors
Volatile cash conversion and uneven FCF
Multi-year negative free cash flow and weak conversion of reported profits into cash point to volatile working capital and capex swings. This unpredictability undermines consistent reinvestment, dividends, or debt reduction, raising execution and financing risks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet & low leverage
Very low debt-to-equity and stable equity provide durable financial flexibility, enabling the company to absorb cyclical downturns, fund capex or strategic investments without large refinancing risk, and maintain operations across multi-year industrial and auto cycles.
Read all positive factors
Exide Industries Limited (EXIDEIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹309.82B
Dividend Yield0.54%
Average Volume (3M)152.38K
Price to Earnings (P/E)28.6
Beta (1Y)1.16
Revenue Growth4.39%
EPS Growth7.42%
CountryIN
Employees5,151
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)9.27
Shares Outstanding850,000,000
10 Day Avg. Volume115,636
30 Day Avg. Volume152,381
Financial Highlights & Ratios
PEG Ratio3.83
Price to Book (P/B)1.76
Price to Sales (P/S)1.36
P/FCF Ratio20.43
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)14.7
Revenue Forecast (FY)₹186.59B
Exide Industries Limited Business Overview & Revenue Model
Company Description
Exide Industries Limited designs, manufactures, markets, and sells lead acid storage batteries and allied products in India and internationally. The company operates in two segments, Automotive and Industrial. It offers automotive, industrial, gen...
How the Company Makes Money
Exide Industries primarily makes money by manufacturing and selling batteries and related stored-energy products into two broad segments: (1) automotive and (2) industrial. In the automotive segment, revenue comes from supplying batteries to vehic...
Exide Industries Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 174.12B | 179.95B | 172.38B | 167.70B | 150.78B | 127.89B |
| Gross Profit | 55.82B | 38.42B | 55.71B | 52.86B | 46.65B | 40.67B |
| EBITDA | 17.98B | 18.70B | 17.63B | 17.78B | 15.57B | 13.69B |
| Net Income | 7.89B | 8.54B | 7.95B | 8.77B | 8.23B | 43.67B |
Balance Sheet | ||||||
| Total Assets | 218.16B | 212.20B | 213.96B | 181.50B | 140.51B | 139.11B |
| Cash, Cash Equivalents and Short-Term Investments | 9.03B | 10.89B | 4.99B | 5.82B | 7.35B | 9.01B |
| Total Debt | 16.45B | 15.75B | 20.17B | 11.23B | 6.42B | 5.20B |
| Total Liabilities | 70.67B | 72.89B | 74.62B | 52.49B | 28.41B | 32.87B |
| Stockholders Equity | 147.25B | 139.05B | 139.13B | 128.86B | 111.32B | 105.84B |
Cash Flow | ||||||
| Free Cash Flow | 8.22B | 11.98B | -6.76B | -3.45B | -2.28B | -6.05B |
| Operating Cash Flow | 14.23B | 23.50B | 12.73B | 15.31B | 7.68B | 612.50M |
| Investing Cash Flow | -8.79B | -15.72B | -19.34B | -14.58B | -7.99B | 647.60M |
| Financing Cash Flow | -6.13B | -7.21B | 5.15B | 1.08B | -301.00M | -1.37B |
Exide Industries Limited Technical Analysis
Neutral
330.05
Price Trends
320.16
Positive
339.62
Negative
366.00
Negative
Market Momentum
3.01
Negative
60.36
Neutral
90.73
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EXIDEIND, the sentiment is Neutral. The current price of 330.05 is above the 20-day moving average (MA) of 308.15, above the 50-day MA of 320.16, and below the 200-day MA of 366.00, indicating a neutral trend. The MACD of 3.01 indicates Negative momentum. The RSI at 60.36 is Neutral, neither overbought nor oversold. The STOCH value of 90.73 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:EXIDEIND.
Exide Industries Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹158.82B | 28.99 | ― | 0.31% | 16.81% | 13.22% | |
69 Neutral | ₹128.33B | 39.41 | ― | 0.23% | 17.23% | 5.49% | |
66 Neutral | ₹146.52B | 793.49 | ― | 1.57% | 69.14% | 44.89% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | ₹309.82B | 28.65 | ― | 0.54% | 4.39% | 7.42% | |
54 Neutral | ₹36.41B | 18.97 | ― | ― | 134.99% | 173.71% | |
49 Neutral | ₹154.91B | -7.78 | ― | ― | ― | ― |
* Consumer Cyclical Sector Average
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Exide Industries Limited Corporate Events
Exide Relaunches 100-Day ‘Saksham Niveshak’ Drive to Trace Unclaimed Dividends
Apr 25, 2026
Exide Industries has relaunched the second phase of its 100-day “Saksham Niveshak” campaign, running from 1 April to 9 July 2026, in line with directions from the Ministry of Corporate Affairs. The initiative aims to locate shareholder...
Exide opens SEBI-mandated window for re-lodgement of old physical share transfers
Mar 10, 2026
Exide Industries has notified stock exchanges that, in line with recent SEBI directives, a special one-year window has been opened from 5 February 2026 to 4 February 2027 to permit re-lodgement of physical share transfer deeds that were originally...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.