Exide Industries Q1 Results: Profit Rises 15%, But Misses Estimates
The battermaker's operating margin too fell short of street expectations.
Exide Industries Ltd.'s net profit rose in the first quarter of fiscal 2025, but missed analyst estimates.
The company's bottom line rose 15% year-on-year to Rs 280 crore in the April-June quarter. That compares with a Bloomberg estimate of Rs 328 crore.
Exide Industries Q1 Results: Key Highlights (Standalone, YoY)
Revenue rose 5.8% to Rs 4,313 crore (Bloomberg estimates: Rs 4,427 crore).
Ebitda rose 15% to Rs 494 crore (Bloomberg estimate: Rs 588 crore).
Margin at 11.4% versus 10.6% (Bloomberg estimates: 13.2%).
Net profit rose 15% to Rs 280 crore (Bloomberg Estimates: Rs 328 crore).
The company has invested Rs 200 crore as equity investment in Exide Energy Solutions Ltd., its wholly owned subsidiary. The subsidiary houses the electric battery segment of Exide. Additionally another Rs 75 crore has been invested in July. With this additional investment, total investment in Exide Energy Solutions stands at Rs 2,577 crore.
Currently the lithium-ion battery plant is under construction and management highlighted that this is on track for commercialisation by end of this fiscal year.
Shares of Exide Industries dropped as much as 3.63% after the results announcement. The counter was trading at 3.24% lower at Rs 543 as of 2:59 p.m., against an advance of 0.31% in the NSE Nifty 50.
