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Exide Industries Limited
(EXIDEIND)
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Rating:66Neutral
Price Target:
₹530.00
▲(19.65% Upside)
Action:Reiterated
Date:07/03/26
The score is driven primarily by solid financial stability (low leverage and stable equity) alongside improving but still inconsistent cash-flow conversion, which tempers confidence in earnings quality. Technicals are supportive with a clear uptrend and positive momentum. Valuation is the main drag due to a high P/E and low dividend yield.
Positive Factors
Conservative balance sheet / low leverage
Exide's low debt-to-equity and a large equity base provide durable financial flexibility to fund capex, withstand commodity cycles or support OEM/customer terms. This conservatism reduces refinancing risk and preserves strategic optionality across 2–6 months and beyond.
Negative Factors
Volatile cash conversion historically
Irregular free cash flow and weak historic conversion of reported profits into cash point to working-capital and capex swings. This reduces earnings quality and constrains sustainable reinvestment or shareholder returns absent continued FCF improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / low leverage
Exide's low debt-to-equity and a large equity base provide durable financial flexibility to fund capex, withstand commodity cycles or support OEM/customer terms. This conservatism reduces refinancing risk and preserves strategic optionality across 2–6 months and beyond.
Read all positive factors
Exide Industries Limited (EXIDEIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹382.71B
Dividend Yield0.44%
Average Volume (3M)152.38K
Price to Earnings (P/E)41.1
Beta (1Y)1.04
Revenue Growth7.61%
EPS Growth9.87%
CountryIN
Employees5,143
SectorGeneral
Sector StrengthN/A
IndustryAuto - Parts
Share Statistics
EPS (TTM)10.95
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 Target
₹497.00Price Target Upside12.20% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)16.05
Revenue Forecast (FY)₹196.43B
Exide Industries Limited Business Overview & Revenue Model
Company Description
Exide Industries Limited designs, manufactures, markets, and sells lead acid storage batteries in India and internationally. The company operates through two segments, Automotive and Industrial. It offers automotive, infrastructural, genset, solar...
How the Company Makes Money
Exide Industries makes money mainly by selling lead-acid batteries across two primary customer segments: (1) Automotive and (2) Industrial. In the automotive segment, revenue is generated from supplying batteries to vehicle manufacturers (OEM chan...
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 | 188.29B | 179.95B | 172.38B | 167.70B | 150.78B | 127.89B |
| Gross Profit | 50.12B | 38.42B | 55.71B | 52.86B | 46.65B | 40.67B |
| EBITDA | 20.16B | 19.61B | 17.63B | 17.78B | 15.57B | 13.69B |
| Net Income | 9.32B | 8.54B | 7.95B | 8.77B | 8.23B | 43.67B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 212.20B | 213.96B | 181.50B | 140.51B | 139.11B |
| Cash, Cash Equivalents and Short-Term Investments | 10.82B | 10.89B | 4.99B | 5.82B | 7.35B | 9.01B |
| Total Debt | 0.00 | 15.75B | 20.17B | 11.23B | 6.42B | 5.20B |
| Total Liabilities | -139.31B | 72.89B | 74.62B | 52.49B | 28.41B | 32.87B |
| Stockholders Equity | 139.31B | 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 Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹1.53T | 64.78 | ― | 1.18% | 16.87% | 18.09% | |
76 Outperform | ₹26.53B | 23.81 | ― | 1.32% | 26.47% | 35.11% | |
70 Outperform | ₹1.21T | 43.70 | ― | 1.24% | 10.77% | 37.61% | |
66 Neutral | ₹382.71B | 41.08 | ― | 0.45% | 7.61% | 9.87% | |
62 Neutral | ₹269.58B | 42.75 | ― | 1.45% | 23.15% | -17.34% | |
58 Neutral | ₹681.50B | 56.81 | ― | 0.24% | 17.19% | 26.45% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
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Exide Industries Limited
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Exide Industries Limited Corporate Events
Exide Industries Shares Q1 FY27 Investor Presentation with Markets
Aug 1, 2026
Exide Industries Limited has released an investor presentation detailing its performance for the first quarter of FY 2026-27, coinciding with an earnings call for analysts and investors scheduled for August 3, 2026. The presentation, which highlig...
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.