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Exide Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹289.10Overvalued by 19.47%vs CMP ₹359.00

P/E (35.4) × ROE (6.2%) × BV (₹164.00) × DY (0.56%)

₹155.76Overvalued by 56.61%vs CMP ₹359.00
MoS: -130.5% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹207.1823%Over (-42.3%)
Graham NumberEarnings₹189.2916%Over (-47.3%)
Earnings PowerEarnings₹61.9411%Over (-82.7%)
DCFCash Flow₹77.0614%Over (-78.5%)
Net Asset ValueAssets₹173.247%Over (-51.7%)
EV/EBITDAEnterprise₹261.479%Over (-27.2%)
Earnings YieldEarnings₹97.107%Over (-73%)
ROCE CapitalReturns₹81.697%Over (-77.2%)
Revenue MultipleRevenue₹202.805%Over (-43.5%)
Consensus (9 models)₹155.76100%Overvalued
Key Drivers: EPS CAGR -28.3% drags value — could be higher if earnings stabilize. | Wide model spread (₹62–₹261) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -28.3%

*Investments are subject to market risks

Analyst Summary

Exide Industries Ltd operates in the Auto Ancl - Batteries segment, NSE: EXIDEIND | BSE: 500086, current market price is ₹359.00, market cap is 30,515 Cr.. At a glance, stock P/E is 35.4, ROE is 6.19 %, ROCE is 8.79 %, book value is 164, dividend yield is 0.56 %. The latest intrinsic value estimate is ₹155.76, around 56.6% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹17,238 Cr versus the prior period change of 2.8%, while latest net profit is about ₹800 Cr with a prior-period change of -9.4%. The 52-week range shown on this page is 431/287, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisExide 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…

This summary is generated from the stock page data available for Exide Industries Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

59
Exide Industries Ltd scores 59/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health66/100 · Strong
ROCE 8.8% AverageROE 6.2% AverageD/E 0.01 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 1.55% MF buyingPromoter holding at 46.0% Stable
Earnings Quality60/100 · Moderate
OPM stable around 11% SteadyWorking capital: 17 days (improving) Efficient
Quarterly Momentum58/100 · Moderate
Revenue (4Q): 3% YoY FlatProfit (4Q): +4% YoY Positive
Industry Rank40/100 · Moderate
P/E 35.4 vs industry 36.5 In-lineROCE 8.8% vs industry 15.9% Below peers3Y sales CAGR: 10% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: May 5, 2026, 12:06 am

Market Cap 30,515 Cr.
Current Price 359
Intrinsic Value₹155.76
High / Low 431/287
Stock P/E35.4
Book Value 164
Dividend Yield0.56 %
ROCE8.79 %
ROE6.19 %
Face Value 1.00
PEG Ratio-1.25

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Exide Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Exide Industries Ltd 30,515 Cr. 359 431/28735.4 1640.56 %8.79 %6.19 % 1.00
HBL Power Systems Ltd 22,127 Cr. 798 1,122/45227.1 71.60.25 %27.3 %20.6 % 1.00
Goldstar Power Ltd 202 Cr. 7.05 11.0/4.5076.1 2.830.00 %11.6 %7.77 % 1.00
PAE Ltd 2.42 Cr. 24.3 24.3/6.907.35 13.30.82 %%% 10.0
Industry Average17,614.67 Cr297.0936.4962.930.41%15.90%11.52%3.25

All Competitor Stocks of Exide Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 3,5383,6774,2454,3723,9804,1734,4364,4504,0174,3354,6954,3654,201
Expenses 3,1403,3053,8073,8723,5483,7253,9633,9783,5923,9074,1573,9733,748
Operating Profit 398372438499432448473472425428538391452
OPM % 11%10%10%11%11%11%11%11%11%10%11%9%11%
Other Income 243623382551640134428545
Interest 19212430323130345435324025
Depreciation 127131132141145142144146145148149152149
Profit before tax 276256304366281281316332238290385253283
Tax % 28%29%26%26%28%34%30%30%33%35%29%31%31%
Net Profit 198181224270203186221233158188275174195
EPS in Rs 2.342.122.623.172.362.172.592.721.842.203.212.022.28

Last Updated: February 6, 2026, 1:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 1:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 8,2549,4719,47711,17912,80814,72114,47115,29712,78915,07816,77017,23817,596
Expenses 7,3858,5288,2899,80511,40013,15913,01413,70611,38713,48514,94615,43315,786
Operating Profit 8699441,1871,3741,4081,5621,4571,5911,4021,5931,8231,8051,810
OPM % 11%10%13%12%11%11%10%10%11%11%11%10%10%
Other Income 7394591022114840703,72512588113131
Interest 149791531141171081536479120160132
Depreciation 140155175226267344418434440502560582598
Profit before tax 7878749921,0971,0481,2499721,0744,6231,1381,2311,1761,211
Tax % 31%29%29%27%34%32%22%25%6%28%28%32%
Net Profit 5466167008046948477628034,357823883800831
EPS in Rs 6.417.238.209.428.139.959.149.5351.389.6810.319.359.71
Dividend Payout % 28%30%29%25%30%24%45%21%4%21%19%21%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)12.82%13.64%14.86%-13.68%22.05%-10.04%5.38%442.59%-81.11%7.29%-9.40%
Change in YoY Net Profit Growth (%)0.00%0.82%1.22%-28.54%35.73%-32.08%15.42%437.21%-523.70%88.40%-16.69%

Exide Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:4%
3 Years:10%
TTM:3%
Compounded Profit Growth
10 Years:2%
5 Years:0%
3 Years:-44%
TTM:-3%
Stock Price CAGR
10 Years:11%
5 Years:20%
3 Years:33%
1 Year:-18%
Return on Equity
10 Years:15%
5 Years:15%
3 Years:7%
Last Year:6%

Last Updated: September 5, 2025, 3:50 am

Balance Sheet

Last Updated: April 20, 2026, 6:00 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 85858585858585858585858585
Reserves 3,3753,7564,3054,9475,3446,0226,3827,18710,49911,04712,80113,82814,640
Borrowings 355811518760891965095205881,1232,0171,645
Other Liabilities 8,9999,98910,86612,54614,32616,23517,54920,6252,7993,0374,1405,4595,447
Total Liabilities 12,49413,88715,37017,76519,81522,43124,21328,40613,90214,75818,14921,39021,816
Fixed Assets 1,6861,7811,9752,2592,6813,0803,2483,5993,3613,6823,8533,9354,083
CWIP 631151921492413004054313415251,3523,6433,865
Investments 7,8908,81710,44611,88412,49014,32815,81618,8075,5585,1065,9406,4687,430
Other Assets 2,8553,1752,7573,4744,4024,7234,7445,5704,6425,4447,0047,3436,439
Total Assets 12,49413,88715,37017,76519,81522,43124,21328,40613,90214,75818,14921,39021,816

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 1801,5839379141,6871,6192,263617681,5311,2732,413
Cash from Investing Activity + -61-1,329-727-535-1,438-1,097-2,08266-799-1,458-1,934-1,551
Cash from Financing Activity + -199-167-182-386-217-532-170-172-30110515-805
Net Cash Flow -798728-632-911-45-61183-14657
Free Cash Flow -1491,1614971081,0011,0241,771-603-219-340-6521,293
CFO/OP 46%157%89%91%133%129%186%22%69%105%91%150%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow834.00886.00-114.00-186.00-59.00-88.00-195.00-508.00-519.00-587.000.00-1.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 292728243131273831303036
Inventory Days 118129106131120107138144120121124144
Days Payable 100829693918192130786587105
Cash Conversion Cycle 477437616056735274856774
Working Capital Days 1120-310221621-1440472617
ROCE %24%23%26%26%23%21%17%14%11%10%10%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
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 12.32%12.86%12.81%12.94%13.57%13.74%12.31%11.72%11.60%11.47%10.88%10.91%
DIIs 18.92%19.77%19.05%19.24%18.57%17.87%17.96%17.64%17.15%17.39%18.46%18.70%
Public 22.76%21.36%22.14%21.82%21.88%22.39%23.73%24.63%25.25%25.14%24.66%24.39%
No. of Shareholders 7,17,7856,94,1888,18,6818,63,8429,43,33110,75,62611,96,19012,81,23513,38,26213,04,14012,58,10712,20,670

Shareholding Pattern Chart

No. of Shareholders

Exide Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Aditya Birla Sun Life Flexi Cap Fund 8,200,000 1.07 263.718,000,0002025-12-15 01:27:202.5%
Nippon India Multi Cap Fund 6,732,135 0.44 216.515,532,1352025-12-15 01:27:2021.69%
DSP Large & Mid Cap Fund 3,333,749 0.61 107.213,341,0182026-02-23 05:53:01-0.22%
Canara Robeco Small Cap Fund 3,258,298 0.83 104.79N/AN/AN/A
Franklin India Small Cap Fund 2,868,888 0.72 92.26N/AN/AN/A
Franklin India Mid Cap Fund 2,803,019 0.74 90.15N/AN/AN/A
Bandhan Large & Mid Cap Fund 2,505,924 0.58 80.591,955,9242026-01-26 03:45:3528.12%
DSP ELSS Tax Saver Fund 2,497,308 0.47 80.312,504,5852026-02-23 05:53:01-0.29%
Aditya Birla Sun Life Value Fund 1,696,976 0.87 54.571,546,5252025-12-15 01:27:219.73%
Bandhan Flexi Cap Fund 1,600,000 0.69 51.46N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 9.3510.319.6851.389.53
Diluted EPS (Rs.) 9.3510.319.6851.389.53
Cash EPS (Rs.) 16.2616.9715.5856.4414.56
Book Value[Excl.RevalReserv]/Share (Rs.) 163.69151.78131.07124.9986.10
Book Value[Incl.RevalReserv]/Share (Rs.) 163.69151.78131.07124.9986.10
Revenue From Operations / Share (Rs.) 202.80197.29177.39150.46179.96
PBDIT / Share (Rs.) 22.4822.4420.1617.2019.42
PBIT / Share (Rs.) 15.6315.8414.2512.0314.32
PBT / Share (Rs.) 13.8314.4813.3811.3112.65
Net Profit / Share (Rs.) 9.4110.389.6851.279.46
NP After MI And SOA / Share (Rs.) 9.3510.319.6851.389.53
PBDIT Margin (%) 11.0811.3711.3611.4310.79
PBIT Margin (%) 7.708.038.037.997.95
PBT Margin (%) 6.817.337.547.517.02
Net Profit Margin (%) 4.645.265.4534.075.25
NP After MI And SOA Margin (%) 4.615.225.4534.145.29
Return on Networth / Equity (%) 5.716.807.3941.2611.13
Return on Capital Employeed (%) 8.569.8210.319.215.09
Return On Assets (%) 3.714.835.5731.392.82
Long Term Debt / Equity (X) 0.060.010.010.010.01
Total Debt / Equity (X) 0.110.050.020.010.01
Asset Turnover Ratio (%) 0.871.021.040.580.59
Current Ratio (X) 1.231.411.881.821.30
Quick Ratio (X) 0.440.530.740.800.75
Inventory Turnover Ratio (X) 4.093.143.593.442.74
Dividend Payout Ratio (NP) (%) 0.0019.390.000.0020.99
Dividend Payout Ratio (CP) (%) 0.0011.820.000.0013.67
Earning Retention Ratio (%) 0.0080.610.000.0079.01
Cash Earning Retention Ratio (%) 0.0088.180.000.0086.33
Interest Coverage Ratio (X) 12.4916.4423.2023.9911.61
Interest Coverage Ratio (Post Tax) (X) 6.238.6112.1412.416.65
Enterprise Value (Cr.) 32023.5426264.1115278.0912889.7015426.65
EV / Net Operating Revenue (X) 1.861.571.011.011.01
EV / EBITDA (X) 16.7613.778.928.829.34
MarketCap / Net Operating Revenue (X) 1.781.541.001.001.02
Retention Ratios (%) 0.0080.600.000.0079.00
Price / BV (X) 2.202.011.361.212.15
Price / Net Operating Revenue (X) 1.781.541.001.001.02
EarningsYield 0.020.030.050.340.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

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. 17268.92 Cr. and Equity Capital is Rs. 85.00 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
Auto Ancl - BatteriesExide House, Kolkata West Bengal 700020Contact not found
Management
NamePosition Held
Mr. Sridhar GorthiChairman & Ind.Director
Mr. R B RahejaVice Chairman, Non Exe&Non Ind.Director
Mr. Avik Kumar RoyManaging Director & CEO
Mr. Manoj Kumar AgarwalDirector - Finance & CFO
Mr. Surin KapadiaIndependent Director
Ms. Radhika Govind RajanIndependent Director
Mr. Jaidit Singh BrarIndependent Director

FAQ

What is the intrinsic value of Exide Industries Ltd and is it undervalued?

As of 06 May 2026, Exide Industries Ltd's intrinsic value is ₹155.76, which is 56.61% lower than the current market price of ₹359.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (6.19 %), book value (₹164), dividend yield (0.56 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Exide Industries Ltd?

Exide Industries Ltd is trading at ₹359.00 as of 06 May 2026, with a FY2026-2027 high of ₹431 and low of ₹287. The stock is currently in the middle of its 52-week range. Market cap stands at ₹30,515 Cr..

How does Exide Industries Ltd's P/E ratio compare to its industry?

Exide Industries Ltd has a P/E ratio of 35.4, which is below the industry average of 36.49. This is broadly in line with or below the industry average.

Is Exide Industries Ltd financially healthy?

Key indicators for Exide Industries Ltd: ROCE of 8.79 % is on the lower side compared to the industry average of 15.90%; ROE of 6.19 % is below ideal levels (industry average: 11.52%). Dividend yield is 0.56 %.

Is Exide Industries Ltd profitable and how is the profit trend?

Exide Industries Ltd reported a net profit of ₹800 Cr in Mar 2025 on revenue of ₹17,238 Cr. Compared to ₹4,357 Cr in Mar 2022, the net profit shows a declining trend.

Does Exide Industries Ltd pay dividends?

Exide Industries Ltd has a dividend yield of 0.56 % at the current price of ₹359.00. The company pays dividends, though the yield is modest.

Last Updated: May 5, 2026, 12:06 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500086 | NSE: EXIDEIND
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
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