Fundamental Analysis of Exide Industries Ltd

About the Company - Exide Industries Ltd

Exide Industries Ltd. is a Public Limited Listed company incorporated on 31/01/1947 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L31402WB1947PLC014919 and registration number is 014919. Currently Company is involved in the business activities of Manufacture of batteries and accumulators. Company’s Total Operating Revenue is Rs. 12381.69 Cr. and Equity Capital is Rs. 85.00 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Auto Ancl - Batteries	Exide House, Kolkata West Bengal 700020	exideindustrieslimited@exide.co.in http://www.exideindustries.com

Management
Name	Position Held
Mr. Bharat Dhirajlal Shah	Chairman & Ind.Director
Mr. R B Raheja	Vice Chairman, Non Exe&Non Ind.Director
Mr. Subir Chakraborty	Managing Director & CEO
Mr. Avik Kumar Roy	Director
Mr. A K Mukherjee	Director - Finance & CFO
Mr. Arun Mittal	Director
Ms. Mona N Desai	Independent Director
Mr. Sridhar Gorthi	Independent Director
Mr. Surin Kapadia	Independent Director

Basic Stock Data of Exide Industries Ltd

Last Updated: July 5, 2024, 10:51 pm

Market Cap	48,276 Cr.
Current Price	568
High / Low	620/242
Stock P/E	57.0
Book Value	152
Dividend Yield	0.35 %
ROCE	10.2 %
ROE	7.05 %
Face Value	1.00
PEG Ratio	24.58

Competitors of Exide Industries Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
PAE Ltd	4.28 Cr.	4.11	6.25/4.11		26.9	0.00 %	%	%	10.0
Goldstar Power Ltd	331 Cr.	13.8	23.4/4.00	81.7	1.17	0.00 %	19.7 %	16.8 %	1.00
HBL Power Systems Ltd	15,790 Cr.	570	612/159	52.5	44.0	0.08 %	34.4 %	27.7 %	1.00
Industry Average	5,375.09 Cr	195.97		44.73	24.02	0.03%	18.03%	14.83%	4.00

Exide Industries Ltd Quarterly Results

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	2,891	3,024	2,566	3,389	3,312	3,523	4,022	3,841	3,538	3,677	4,245	4,372	3,980
Expenses	2,493	2,595	2,393	2,966	2,932	3,191	3,634	3,410	3,140	3,305	3,807	3,872	3,548
Operating Profit	399	429	173	423	379	332	387	431	398	372	438	499	432
OPM %	14%	14%	7%	12%	11%	9%	10%	11%	11%	10%	10%	11%	11%
Other Income	29	95	16	-27	-4	3,832	30	36	24	36	23	38	25
Interest	10	11	13	11	15	21	16	18	19	21	24	30	32
Depreciation	99	101	106	107	111	116	122	123	127	131	132	141	145
Profit before tax	319	412	69	278	250	4,026	280	326	276	256	304	366	281
Tax %	25%	22%	54%	30%	29%	2%	28%	26%	28%	29%	26%	26%	28%
Net Profit	240	320	32	194	178	3,953	202	241	198	181	224	270	203
EPS in Rs	2.84	3.79	0.39	2.31	2.10	46.58	2.39	2.84	2.34	2.12	2.62	3.17	2.36

Last Updated: May 11, 2024, 3:50 am

Exide Industries Ltd Quarterly Chart

Exide Industries Ltd Profit & Loss

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	5,272	6,308	8,254	9,471	9,477	11,179	12,808	14,721	14,471	10,359	12,789	15,078	15,832
Expenses	4,523	5,452	7,385	8,528	8,289	9,805	11,400	13,159	13,014	8,994	11,387	13,485	14,125
Operating Profit	749	855	869	944	1,187	1,374	1,408	1,562	1,457	1,366	1,402	1,593	1,707
OPM %	14%	14%	11%	10%	13%	12%	11%	11%	10%	13%	11%	11%	11%
Other Income	41	56	73	94	59	102	21	148	40	132	3,725	125	120
Interest	19	12	14	9	79	153	114	117	108	37	64	79	94
Depreciation	108	122	140	155	175	226	267	344	418	394	440	502	532
Profit before tax	663	777	787	874	992	1,097	1,048	1,249	972	1,068	4,623	1,138	1,202
Tax %	30%	31%	31%	29%	29%	27%	34%	32%	22%	25%	6%	28%
Net Profit	449	551	546	616	700	804	694	847	762	803	4,357	823	874
EPS in Rs	5.25	6.46	6.41	7.23	8.20	9.42	8.13	9.95	9.14	9.53	51.38	9.68	10.25
Dividend Payout %	29%	25%	28%	30%	29%	25%	30%	24%	45%	21%	4%	21%

Exide Industries Ltd Profit & Loss Yearly Chart

Exide Industries Ltd Growth

Compounded Sales Growth
10 Years:	9%
5 Years:	3%
3 Years:	1%
TTM:	9%

Compounded Profit Growth
10 Years:	4%
5 Years:	2%
3 Years:	1%
TTM:	11%

Stock Price CAGR
10 Years:	14%
5 Years:	16%
3 Years:	37%
1 Year:	144%

Return on Equity
10 Years:	18%
5 Years:	19%
3 Years:	22%
Last Year:	7%

Last Updated: April 8, 2024, 8:26 am

Exide Industries Ltd Balance Sheet

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	85	85	85	85	85	85	85	85	85	85	85	85	85
Reserves	2,602	2,995	3,375	3,756	4,305	4,947	5,344	6,022	6,382	7,187	10,499	11,047	12,439
Borrowings	27	51	35	58	115	187	60	89	196	509	520	588	743
Other Liabilities	1,208	8,178	8,999	9,989	10,866	12,546	14,326	16,235	17,688	20,625	2,799	3,039	3,791
Total Liabilities	3,923	11,309	12,494	13,887	15,370	17,765	19,815	22,431	24,351	28,406	13,902	14,760	17,058
Fixed Assets	1,104	1,677	1,686	1,781	1,975	2,259	2,681	3,080	3,248	3,599	3,361	3,685	4,112
CWIP	27	61	63	115	192	149	241	300	405	431	341	525	433
Investments	993	6,787	7,890	8,817	10,446	11,884	12,490	14,328	15,816	18,807	5,558	5,106	7,051
Other Assets	1,797	2,784	2,855	3,175	2,757	3,474	4,402	4,723	4,883	5,570	4,642	5,444	5,462
Total Assets	3,923	11,309	12,494	13,887	15,370	17,765	19,815	22,431	24,351	28,406	13,902	14,760	17,058

Exide Industries Ltd Reserves and Borrowings Chart

Exide Industries Ltd Cash Flow

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Cash from Operating Activity	602	399	872	180	1,583	937	914	1,687	1,619	2,263	61	768
Cash from Investing Activity	-333	-86	-591	-61	-1,329	-727	-535	-1,438	-1,097	-2,082	66	-799
Cash from Financing Activity	-229	-155	-215	-199	-167	-182	-386	-217	-532	-170	-172	-30
Net Cash Flow	40	158	66	-79	87	28	-6	32	-9	11	-45	-61

Exide Industries Ltd Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	34	29	27	28	24	31	31	27	38	31	30	30
Inventory Days	126	118	129	106	131	120	107	138	144	120	121	124
Days Payable	89	100	82	96	93	91	81	92	130	78	65	87
Cash Conversion Cycle	71	47	74	37	61	60	56	73	52	74	85	67
Working Capital Days	40	12	22	2	16	23	17	23	-11	44	50	43
ROCE %	27%	24%	23%	26%	26%	23%	21%	17%	14%	11%	10%

Exide Industries Ltd Financial Efficiency Indicators Chart

Exide Industries Ltd Share Holding Pattern

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Promoters	45.99%	45.99%	45.99%	45.99%	45.99%	45.99%	45.99%	45.99%	45.99%	45.99%	45.99%	45.99%
FIIs	10.39%	11.95%	11.82%	9.74%	9.63%	10.13%	10.40%	10.48%	10.96%	12.32%	12.86%	12.81%
DIIs	27.26%	24.56%	23.31%	21.69%	20.61%	19.16%	17.83%	17.82%	19.56%	18.92%	19.77%	19.05%
Public	16.36%	17.49%	18.87%	22.58%	23.77%	24.71%	25.78%	25.71%	23.49%	22.76%	21.36%	22.14%
No. of Shareholders	2,54,342	3,60,771	4,51,482	5,97,669	6,96,569	8,04,288	8,37,788	8,11,840	7,30,808	7,17,785	6,94,188	8,18,681

Exide Industries Ltd Shareholding Pattern Chart

No. of Exide Industries Ltd Shareholders

Exide Industries Ltd Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Kotak Emerging Equity Fund - Regular Plan	22,419,204	1.75	638.39	9,264,684	2024-07-05	141.99%
Aditya Birla Sun Life Flexi Cap Fund	9,264,684	1.45	263.81	9,264,684	2024-07-05	0%
Kotak Small Cap Fund - Regular Plan	7,781,980	1.66	221.59	9,264,684	2024-07-05	-16%
Kotak Equity Opportunities Fund - Regular Plan	7,600,247	1.31	216.42	9,264,684	2024-07-05	-17.97%
ICICI Prudential Value Discovery Fund	6,631,313	0.54	188.83	9,264,684	2024-07-05	-28.42%
DSP ELSS Tax Saver Fund	6,187,970	1.4	176.2	9,264,684	2024-07-05	-33.21%
DSP Equity Opportunities Fund	5,001,819	1.48	142.43	9,264,684	2024-07-05	-46.01%
Nippon India Multi Cap Fund	5,000,000	0.63	142.38	9,264,684	2024-07-05	-46.03%
Franklin India Smaller Companies Fund	4,118,888	1.09	117.29	9,264,684	2024-07-05	-55.54%
Kotak Equity Arbitrage Fund - Regular Plan	3,758,400	0.34	107.02	9,264,684	2024-07-05	-59.43%

Exide Industries Ltd ROCE Trend

Exide Industries Ltd EPS Trend

Exide Industries Ltd Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	10.31	9.68	51.38	9.53	9.14
Diluted EPS (Rs.)	10.31	9.68	51.38	9.53	9.14
Cash EPS (Rs.)	16.97	15.58	56.44	14.56	13.89
Book Value[Excl.RevalReserv]/Share (Rs.)	151.78	131.07	124.99	86.10	76.64
Book Value[Incl.RevalReserv]/Share (Rs.)	151.78	131.07	124.99	86.10	76.64
Revenue From Operations / Share (Rs.)	197.29	177.39	150.46	179.96	170.25
PBDIT / Share (Rs.)	22.44	20.16	17.20	19.42	17.74
PBIT / Share (Rs.)	15.84	14.25	12.03	14.32	12.83
PBT / Share (Rs.)	14.48	13.38	11.31	12.65	11.44
Net Profit / Share (Rs.)	10.38	9.68	51.27	9.46	8.97
NP After MI And SOA / Share (Rs.)	10.31	9.68	51.38	9.53	9.14
PBDIT Margin (%)	11.37	11.36	11.43	10.79	10.42
PBIT Margin (%)	8.03	8.03	7.99	7.95	7.53
PBT Margin (%)	7.33	7.54	7.51	7.02	6.71
Net Profit Margin (%)	5.26	5.45	34.07	5.25	5.27
NP After MI And SOA Margin (%)	5.22	5.45	34.14	5.29	5.36
Return on Networth / Equity (%)	6.80	7.39	41.26	11.13	12.01
Return on Capital Employeed (%)	9.82	10.31	9.21	5.09	5.16
Return On Assets (%)	4.83	5.57	31.39	2.82	3.18
Long Term Debt / Equity (X)	0.01	0.01	0.01	0.01	0.00
Total Debt / Equity (X)	0.05	0.02	0.01	0.01	0.01
Asset Turnover Ratio (%)	1.02	1.04	0.58	0.59	0.64
Current Ratio (X)	1.41	1.88	1.82	1.30	1.66
Quick Ratio (X)	0.54	0.74	0.80	0.75	0.92
Inventory Turnover Ratio (X)	3.14	3.59	3.44	2.74	3.06
Dividend Payout Ratio (NP) (%)	0.00	0.00	0.00	20.99	44.86
Dividend Payout Ratio (CP) (%)	0.00	0.00	0.00	13.67	29.17
Earning Retention Ratio (%)	0.00	0.00	0.00	79.01	55.14
Cash Earning Retention Ratio (%)	0.00	0.00	0.00	86.33	70.83
Interest Coverage Ratio (X)	16.44	23.20	23.99	11.61	15.61
Interest Coverage Ratio (Post Tax) (X)	8.61	12.14	12.41	6.65	9.12
Enterprise Value (Cr.)	26264.11	15278.09	12889.70	15426.65	10928.97
EV / Net Operating Revenue (X)	1.57	1.01	1.01	1.01	0.75
EV / EBITDA (X)	13.77	8.92	8.82	9.34	7.25
MarketCap / Net Operating Revenue (X)	1.54	1.00	1.00	1.02	0.77
Retention Ratios (%)	0.00	0.00	0.00	79.00	55.13
Price / BV (X)	2.01	1.36	1.21	2.15	1.73
Price / Net Operating Revenue (X)	1.54	1.00	1.00	1.02	0.77
EarningsYield	0.03	0.05	0.34	0.05	0.06

Exide Industries Ltd Profitability Ratios (%)

Exide Industries Ltd Liquidity Ratios

Exide Industries Ltd Liquidity Ratios (%)

Exide Industries Ltd Interest Coverage Ratios (%)

Exide Industries Ltd Valuation Ratios

Fair Value

Fair Value: 612.95

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 7.91% compared to the current price 568

Intrinsic Value: 627.16

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 10.42% compared to the current price ₹568

Last 5 Year EPS CAGR: 2.32%

*Investments are subject to market risks

Strength and Weakness of Exide Industries Ltd Stock

Strength	Weakness
The stock has a high average ROCE of 18.50%, which is a positive sign. The stock has a low average Working Capital Days of 23.42, which is a positive sign. The company has higher reserves (6,223.08 cr) compared to borrowings (244.46 cr), indicating strong financial stability. The company has shown consistent growth in sales (10.77 cr) and profit (390.38 cr) over the years.	The stock has a high average Cash Conversion Cycle of 63.08, which may not be favorable.

FAQ

What is the latest fair value of Exide Industries Ltd?

The latest fair value of Exide Industries Ltd is ₹612.95.

What is the Market Cap of Exide Industries Ltd?

The Market Cap of Exide Industries Ltd is 48,276 Cr..

What is the current Stock Price of Exide Industries Ltd as on 06 July 2024?

The current stock price of Exide Industries Ltd as on 06 July 2024 is 568.

What is the High / Low of Exide Industries Ltd stocks in FY 2024?

In FY 2024, the High / Low of Exide Industries Ltd stocks is 620/242.

What is the Stock P/E of Exide Industries Ltd?

The Stock P/E of Exide Industries Ltd is 57.0.

What is the Book Value of Exide Industries Ltd?

The Book Value of Exide Industries Ltd is 152.

What is the Dividend Yield of Exide Industries Ltd?

The Dividend Yield of Exide Industries Ltd is 0.35 %.

What is the ROCE of Exide Industries Ltd?

The ROCE of Exide Industries Ltd is 10.2 %.

What is the ROE of Exide Industries Ltd?

The ROE of Exide Industries Ltd is 7.05 %.

What is the Face Value of Exide Industries Ltd?

The Face Value of Exide Industries Ltd is 1.00.