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Exide Inds

₹418.3 0.1 | 0%

Market Cap ₹35551 Cr.

Stock P/E 40.3

P/B 2.5

Current Price ₹418.3

Book Value ₹ 167

Face Value 1

52W High ₹620

Dividend Yield 0.48%

52W Low ₹ 290.4

Exide Inds Research see more...

Overview Inc. Year: 1947Industry: Batteries

Exide Industries Ltd designs, manufactures, markets, and sells lead acid storage batteries and allied merchandise in India and internationally. The corporation operates in two segments, Automotive and Industrial. It offers automobile, commercial, genset, solar, inverter, and submarine batteries, in addition to domestic UPS structures and e-rickshaws. The company also presents life coverage merchandise via individual agents, company marketers, banks, etc.; manufactures and supplies recycled lead and lead alloys; manufactures lead acid automotive and bike batteries; provides power storage solutions and technical help for manufacturing of lithium ion batteries; and produces and distributes industrial battery chargers, rectifiers, and elements, in addition to engages in the non-conventional electricity commercial enterprise activities. In addition, it offers solutions inside the regions of equipment selection, battery sizing, installation, operation, and protection. Exide Industries Ltd sells its batteries under the EXIDE, INDEX, DYNEX, SF SONIC, CHLORIDE, and CEIL logo names via a distribution community of about 48,000 direct and indirect dealers. Its merchandise are utilized in energy, solar, railways, telecom, UPS, tasks, traction, and different industries. The company was previously called Chloride Industries Ltd. and modified its name to Exide Industries Ltd in August 1995. Exide Industries Ltd was founded in 1916 and is situated in Kolkata, India.

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Exide Inds Share Price

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Peer Comparison

Exide Inds Quarterly Results

#(Fig in Cr.) Sep 2015 Mar 2016 Sep 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018
Net Sales 1746 1998 2171 2204 2364 2358 2278 2459
Other Income 8 23 23 31 13 14 11 20
Total Income 1754 2021 2194 2235 2377 2372 2289 2480
Total Expenditure 1491 1732 1882 1952 2039 2062 1996 2121
Operating Profit 264 289 312 283 337 310 294 358
Interest 0 1 1 0 2 2 1 1
Depreciation 38 44 51 54 56 60 63 67
Exceptional Income / Expenses 0 0 0 0 0 -42 0 0
Profit Before Tax 226 244 261 228 280 206 230 290
Provision for Tax 71 68 79 64 91 71 76 101
Profit After Tax 155 175 182 164 189 136 154 190
Adjustments -155 -175 -182 -164 -189 -136 -154 -190
Profit After Adjustments 0 0 0 0 0 0 0 0
Adjusted Earnings Per Share 1.8 2.1 2.1 1.9 2.2 1.6 1.8 2.2

Exide Inds Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 5964 6866 6854 7583 9186 10588 9857 10041 12410 14592 16029 9459
Other Income 35 32 52 104 58 39 64 65 80 132 85 58
Total Income 6000 6898 6905 7687 9245 10627 9921 10106 12491 14724 16114 9518
Total Expenditure 5148 5957 5837 6500 7944 9176 8490 8684 11011 13023 14157 8218
Operating Profit 851 941 1069 1187 1300 1451 1431 1422 1480 1701 1957 1299
Interest 2 3 3 5 7 7 11 25 40 30 50 6
Depreciation 126 140 158 206 246 314 363 379 413 456 497 246
Exceptional Income / Expenses 0 0 0 0 -42 108 -22 0 4694 0 0 -42
Profit Before Tax 723 798 908 976 1006 1239 1035 1018 5720 1215 1410 1006
Provision for Tax 236 253 284 282 338 395 210 260 1036 311 357 339
Profit After Tax 487 546 624 694 668 844 826 758 4684 904 1053 669
Adjustments 0 0 0 0 0 0 0 0 0 0 0 -669
Profit After Adjustments 487 546 624 694 668 844 826 758 4684 904 1053 0
Adjusted Earnings Per Share 5.7 6.4 7.3 8.2 7.9 9.9 9.7 8.9 55.1 10.6 12.4 7.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 10% 17% 9% 10%
Operating Profit CAGR 15% 11% 6% 9%
PAT CAGR 16% 12% 5% 8%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 41% 37% 19% 9%
ROE Average 9% 24% 19% 16%
ROCE Average 12% 30% 24% 22%

Exide Inds Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 3731 4055 4511 4964 5389 5987 6296 6894 10598 11210 13137
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 131 159 167 204 194 227 202 420 274 226 456
Total Current Liabilities 1094 1189 1460 1608 1814 1958 1744 2315 2426 2499 3259
Total Liabilities 4957 5403 6138 6776 7397 8172 8242 9629 13298 13935 16853
Fixed Assets 998 1090 1265 1546 1958 2297 2339 2638 2775 2850 2865
Other Non-Current Assets 1711 1985 2028 2079 2187 2403 2563 2596 5786 6000 8686
Total Current Assets 2248 2327 2845 3150 3252 3472 3340 4395 4737 5085 5302
Total Assets 4957 5403 6138 6776 7397 8172 8242 9629 13298 13935 16853

Exide Inds Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 75 120 30 67 11 79 65 145 83 154 68
Cash Flow from Operating Activities 647 325 1340 430 517 1004 914 1413 20 848 1997
Cash Flow from Investing Activities -434 -213 -1146 -307 -28 -766 -325 -1277 275 -888 -1617
Cash Flow from Financing Activities -168 -202 -150 -178 -421 -252 -509 -199 -225 -46 -230
Net Cash Inflow / Outflow 45 -90 44 -55 67 -14 80 -62 71 -86 149
Closing Cash & Cash Equivalent 120 30 74 11 79 65 145 83 154 68 217

Exide Inds Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 5.73 6.42 7.35 8.16 7.86 9.93 9.71 8.92 55.11 10.63 12.39
CEPS(Rs) 7.21 8.06 9.2 10.59 10.76 13.62 13.98 13.38 59.97 15.99 18.24
DPS(Rs) 1.8 2.2 2.4 2.4 2.4 2.4 4.1 2 2 2 2
Book NAV/Share(Rs) 43.62 47.44 53.08 58.4 63.4 70.44 74.07 81.1 124.68 131.88 154.56
Core EBITDA Margin(%) 12.08 11.89 13.15 12.67 13.13 13.34 13.87 13.51 11.27 10.75 11.68
EBIT Margin(%) 10.74 10.48 11.78 11.47 10.71 11.77 10.61 10.38 46.42 8.54 9.11
Pre Tax Margin(%) 10.7 10.44 11.74 11.41 10.64 11.7 10.5 10.14 46.09 8.33 8.8
PAT Margin (%) 7.21 7.14 8.07 8.11 7.07 7.97 8.38 7.55 37.75 6.19 6.57
Cash Profit Margin (%) 9.07 8.96 10.12 10.52 9.67 10.93 12.05 11.33 41.08 9.32 9.67
ROA(%) 10.25 10.54 10.82 10.74 9.43 10.84 10.06 8.49 40.86 6.64 6.84
ROE(%) 13.71 14.11 14.62 14.64 12.91 14.84 13.44 11.5 53.56 8.29 8.65
ROCE(%) 20.42 20.66 21.03 20.13 19.25 21.91 17.04 15.81 65.83 11.42 11.99
Receivable days 27.72 25.58 27.35 26.15 30.19 34.89 35.11 30.95 30.62 30.87 28.9
Inventory Days 63.56 64.64 62.68 56.77 63.42 61.43 73.99 82.49 70.75 68.21 71.03
Payable days 53.73 47.4 53.2 50.75 48.65 50.73 56.11 61.86 49.33 35.7 40.87
PER(x) 21.11 27.67 19.01 27.44 28.23 22.02 13.51 20.58 2.74 16.74 24.58
Price/Book(x) 2.77 3.75 2.63 3.84 3.5 3.1 1.77 2.26 1.21 1.35 1.97
Dividend Yield(%) 1.49 1.24 1.72 1.07 1.08 1.1 3.12 1.09 1.32 1.12 0.66
EV/Net Sales(x) 1.7 2.2 1.74 2.53 2.04 1.75 1.12 1.54 1.02 1.03 1.6
EV/Core EBITDA(x) 11.94 16.04 11.13 16.16 14.44 12.76 7.69 10.91 8.57 8.85 13.11
Net Sales Growth(%) -1.76 15.11 -0.17 10.65 21.14 15.26 -6.91 1.87 23.6 17.58 9.85
EBIT Growth(%) -3.02 10.45 13.68 7.69 3.23 23.04 -16.03 -0.34 452.44 -78.38 17.19
PAT Growth(%) -6.83 12.07 14.4 11.08 -3.65 26.29 -2.2 -8.14 517.76 -80.71 16.53
EPS Growth(%) -6.83 12.07 14.4 11.08 -3.65 26.29 -2.2 -8.14 517.76 -80.71 16.53
Debt/Equity(x) 0 0 0.02 0.03 0 0 0 0 0 0 0
Current Ratio(x) 2.05 1.96 1.95 1.96 1.79 1.77 1.91 1.9 1.95 2.03 1.63
Quick Ratio(x) 0.97 0.68 1.17 1.01 0.82 0.85 0.66 0.89 0.94 0.84 0.63
Interest Cover(x) 302.28 283.15 331.25 186.15 154.38 166.59 94.51 42.06 142.83 40.94 29.36
Total Debt/Mcap(x) 0 0 0.01 0.01 0 0 0 0 0 0 0

Exide Inds Shareholding Pattern

# Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Promoter 45.99 45.99 45.99 45.99 45.99 45.99 45.99 45.99 45.99 45.99
FII 10.4 10.48 10.96 12.32 12.86 12.81 12.94 13.57 13.74 12.31
DII 17.82 17.82 19.56 18.92 19.78 19.05 19.23 18.56 17.87 17.96
Public 25.78 25.7 23.48 22.76 21.37 22.14 21.83 21.87 22.4 23.73
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 24%
  • Company is almost debt free.

Cons

  • Promoter holding is low: 45.99%.
  • Debtor days have increased from 35.7 to 40.87days.
  • The company has delivered a poor profit growth of 4% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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