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Last Updated on: 27 February, 2024|Author: Getaka | Social: X Twitter Profile

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.
INDUSTRYADDRESSCONTACT
Auto Ancl - BatteriesExide House, Kolkata West Bengal 700020exideindustrieslimited@exide.co.in
http://www.exideindustries.com
Management
NamePosition Held
Mr. Bharat Dhirajlal ShahChairman & Ind.Director
Mr. R B RahejaVice Chairman, Non Exe&Non Ind.Director
Mr. Subir ChakrabortyManaging Director & CEO
Mr. Avik Kumar RoyDirector
Mr. A K MukherjeeDirector - Finance & CFO
Mr. Arun MittalDirector
Ms. Mona N DesaiIndependent Director
Mr. Sridhar GorthiIndependent Director
Mr. Surin KapadiaIndependent Director

Exide Industries Ltd. Share Price Update

Share PriceValue
Today₹329.10
Previous Day₹329.60

Basic Stock Data of Exide Industries Ltd

Market Cap 27,676 Cr.
Current Price 326
High / Low354/170
Stock P/E31.7
Book Value 147
Dividend Yield0.61 %
ROCE10.2 %
ROE7.28 %
Face Value 1.00

Data Source: screener.in

Competitors of Exide Industries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
HBL Power Systems Ltd 14,227 Cr. 513612/86.160.0 38.20.09 %13.7 %10.7 % 1.00
Goldstar Power Ltd 385 Cr. 16.023.4/4.0092.8 1.100.00 %17.3 %16.9 % 1.00
PAE Ltd 5.97 Cr. 5.737.69/4.61 26.90.00 %%% 10.0
Industry Average4,872.66 Cr178.2450.9322.070.03%10.33%9.20%4.00

Exide Industries Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales4,0112,8913,0242,5663,3893,3123,5234,0223,8413,5383,6774,2454,372
Expenses3,5582,4932,5952,3932,9662,9323,1913,6343,4103,1403,3053,8073,872
Operating Profit453399429173423379332387431398372438499
OPM %11%14%14%7%12%11%9%10%11%11%10%10%11%
Other Income21299516-27-43,832303624362338
Interest32101113111521161819212430
Depreciation10999101106107111116122123127131132141
Profit before tax333319412692782504,026280326276256304366
Tax %23%25%22%54%30%29%2%28%26%28%29%26%26%
Net Profit257240320321941783,953202241198181224270
EPS in Rs3.032.843.790.392.312.1046.582.392.842.342.122.623.17

Exide Industries Ltd Quarterly Chart

Exide Industries Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales5,2726,3088,2549,4719,47711,17912,80814,72114,47110,35912,78915,07815,832
Expenses4,5235,4527,3858,5288,2899,80511,40013,15913,0148,99411,38713,48514,125
Operating Profit7498558699441,1871,3741,4081,5621,4571,3661,4021,5931,707
OPM %14%14%11%10%13%12%11%11%10%13%11%11%11%
Other Income415673945910221148401323,725125120
Interest19121497915311411710837647994
Depreciation108122140155175226267344418394440502532
Profit before tax6637777878749921,0971,0481,2499721,0684,6231,1381,202
Tax %30%31%31%29%29%27%34%32%22%25%6%28%
Net Profit4495515466167008046948477628034,357823874
EPS in Rs5.256.466.417.238.209.428.139.959.149.5351.389.6810.25
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:12%
5 Years:9%
3 Years:17%
1 Year:86%
Return on Equity
10 Years:18%
5 Years:19%
3 Years:22%
Last Year:7%

Exide Industries Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital85858585858585858585858585
Reserves2,6022,9953,3753,7564,3054,9475,3446,0226,3827,18710,49911,04712,439
Borrowings275135581151876089196509520588743
Other Liabilities1,2088,1788,9999,98910,86612,54614,32616,23517,68820,6252,7993,0393,791
Total Liabilities3,92311,30912,49413,88715,37017,76519,81522,43124,35128,40613,90214,76017,058
Fixed Assets1,1041,6771,6861,7811,9752,2592,6813,0803,2483,5993,3613,6854,112
CWIP276163115192149241300405431341525433
Investments9936,7877,8908,81710,44611,88412,49014,32815,81618,8075,5585,1067,051
Other Assets1,7972,7842,8553,1752,7573,4744,4024,7234,8835,5704,6425,4445,462
Total Assets3,92311,30912,49413,88715,37017,76519,81522,43124,35128,40613,90214,76017,058

Exide Industries Ltd Reserves and Borrowings Chart

Exide Industries Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 6023998721801,5839379141,6871,6192,26361768
Cash from Investing Activity -333-86-591-61-1,329-727-535-1,438-1,097-2,08266-799
Cash from Financing Activity -229-155-215-199-167-182-386-217-532-170-172-30
Net Cash Flow4015866-798728-632-911-45-61

Exide Industries Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days303429272824313127383130
Inventory Days122126118129106131120107138144120121
Days Payable73891008296939181921307865
Cash Conversion Cycle797147743761605673527485
Working Capital Days40401222216231723-114450
ROCE %26%27%24%23%26%26%23%21%17%14%11%10%

Exide Industries Ltd Financial Efficiency Indicators Chart

Exide Industries Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters45.99%45.99%45.99%45.99%45.99%45.99%45.99%45.99%45.99%45.99%45.99%45.99%
FIIs10.39%11.95%11.82%9.74%9.63%10.13%10.40%10.48%10.96%12.32%12.86%12.81%
DIIs27.26%24.56%23.31%21.69%20.61%19.16%17.83%17.82%19.56%18.92%19.77%19.05%
Public16.36%17.49%18.87%22.58%23.77%24.71%25.78%25.71%23.49%22.76%21.36%22.14%
No. of Shareholders2,54,3423,60,7714,51,4825,97,6696,96,5698,04,2888,37,7888,11,8407,30,8087,17,7856,94,1888,18,681

Exide Industries Ltd Shareholding Pattern Chart

No. of Exide Industries Ltd Shareholders

Exide Industries Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Kotak Emerging Equity Fund - Regular Plan224192041.75638.39
Aditya Birla Sun Life Flexi Cap Fund92646841.45263.81
Kotak Small Cap Fund - Regular Plan77819801.66221.59
Kotak Equity Opportunities Fund - Regular Plan76002471.31216.42
ICICI Prudential Value Discovery Fund66313130.54188.83
DSP ELSS Tax Saver Fund61879701.4176.2
DSP Equity Opportunities Fund50018191.48142.43
Nippon India Multi Cap Fund50000000.63142.38
Franklin India Smaller Companies Fund41188881.09117.29
Kotak Equity Arbitrage Fund - Regular Plan37584000.34107.02

Exide Industries Ltd ROCE Trend

Exide Industries Ltd EPS Trend

Exide Industries Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)9.6851.389.539.149.95
Diluted EPS (Rs.)9.6851.389.539.149.95
Cash EPS (Rs.)15.5856.4414.5613.8914.01
Book Value[Excl.RevalReserv]/Share (Rs.)131.07124.9986.1076.6472.23
Book Value[Incl.RevalReserv]/Share (Rs.)131.07124.9986.1076.6472.23
Revenue From Operations / Share (Rs.)177.39150.46179.96170.25173.19
PBDIT / Share (Rs.)20.1617.2019.4217.7418.72
PBIT / Share (Rs.)14.2512.0314.3212.8314.68
PBT / Share (Rs.)13.3811.3112.6511.4414.69
Net Profit / Share (Rs.)9.6851.279.468.979.97
NP After MI And SOA / Share (Rs.)9.6851.389.539.149.95
PBDIT Margin (%)11.3611.4310.7910.4210.81
PBIT Margin (%)8.037.997.957.538.47
PBT Margin (%)7.547.517.026.718.48
Net Profit Margin (%)5.4534.075.255.275.75
NP After MI And SOA Margin (%)5.4534.145.295.365.74
Return on Networth / Equity (%)7.3941.2611.1312.0113.84
Return on Capital Employeed (%)10.319.215.095.166.54
Return On Assets (%)5.5731.392.823.183.76
Long Term Debt / Equity (X)0.010.010.010.000.00
Total Debt / Equity (X)0.020.010.010.010.01
Asset Turnover Ratio (%)1.040.580.590.640.75
Current Ratio (X)1.881.821.301.661.62
Quick Ratio (X)0.740.800.750.921.01
Inventory Turnover Ratio (X)3.593.442.743.063.67
Dividend Payout Ratio (NP) (%)0.000.0020.9944.8624.12
Dividend Payout Ratio (CP) (%)0.000.0013.6729.1717.15
Earning Retention Ratio (%)0.000.0079.0155.1475.88
Cash Earning Retention Ratio (%)0.000.0086.3370.8382.85
Interest Coverage Ratio (X)23.2023.9911.6115.6114.86
Interest Coverage Ratio (Post Tax) (X)12.1412.416.659.127.90
Enterprise Value (Cr.)15278.0912889.7015426.6510928.9718353.22
EV / Net Operating Revenue (X)1.011.011.010.751.25
EV / EBITDA (X)8.928.829.347.2511.53
MarketCap / Net Operating Revenue (X)1.001.001.020.771.26
Retention Ratios (%)0.000.0079.0055.1375.87
Price / BV (X)1.361.212.151.733.04
Price / Net Operating Revenue (X)1.001.001.020.771.26
EarningsYield0.050.340.050.060.04

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 of Exide Industries Ltd Stock

Fair Value: ₹341.31

The stock is undervalued by 4.70% compared to the current price ₹326

*Investments are subject to market risks

Strength and Weakness of Exide Industries Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 20.67%, which is a positive sign.
  2. The stock has a low average Working Capital Days of 23.17, which is a positive sign.
  3. The company has higher reserves (6,223.08 cr) compared to borrowings (244.46 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (10.77 cr) and profit (390.38 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 13.62 and average Dividend Yield of 7.99%.
  2. The stock has a high average Cash Conversion Cycle of 64.08, which may not be favorable.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Exide Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE