EXIDEIND · Automobile and Auto Components
Exide Industries Ltd. reported revenue of ₹4,436 cr for April to June 2024, +4.5% on the year and +6.3% on the quarter.
Operating profit (EBITDA) was ₹473 cr, a margin of 10.7%, +34 bps on the year and −7 bps on the quarter. Operating costs grew +4.1% against revenue growth of +4.5%, so more of each rupee of sales reached operating profit.
Net profit was ₹221 cr, −1.3% on the year and +18.8% on the quarter, with earnings per share of ₹2.59. Profit before other income, one-offs and tax grew faster, at +6.8%; other income, one-offs or tax held the headline back. The tax rate of 30% is in line with its recent average.
A vehicle maker's revenue is volumes times average price, and its margin moves with steel, aluminium and rubber costs and with the share of exports and premium models. The quarterly statements do not carry volumes, realisation per vehicle and the export share; those come with the filing read.
On earnings per share of ₹10.29 over the last four quarters, the stock at ₹371.00 trades at 36.1 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹4,372 cr | ₹3,980 cr | ₹4,173 cr | ₹4,436 cr | ₹4,450 cr | ₹4,017 cr | ₹4,335 cr | ₹4,695 cr | ₹4,365 cr | ₹4,201 cr | ₹4,735 cr | ₹5,528 cr |
| YoY | — | — | — | +4% | +2% | +1% | +4% | +6% | −2% | +5% | +9% | +18% |
| EBITDA margin | 11.4% | 10.9% | 10.7% | 10.7% | 10.6% | 10.6% | 9.9% | 11.5% | 9.0% | 10.8% | 10.3% | 11.2% |
| Other income, % of PBT | 10% | 9% | 2% | 5% | 12% | 5% | 15% | 7% | 21% | 2% | 1% | 6% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 28% | 34% | 30% | 30% | 33% | 35% | 29% | 31% | 31% | 34% | 28% |
| Net profit | ₹270 cr | ₹203 cr | ₹186 cr | ₹221 cr | ₹233 cr | ₹158 cr | ₹188 cr | ₹275 cr | ₹174 cr | ₹195 cr | ₹217 cr | ₹351 cr |
| YoY | — | — | — | −1% | −14% | −22% | +1% | +24% | −25% | +23% | +15% | +28% |
| Core profit YoY | — | — | — | +7% | −11% | −12% | −11% | +19% | −32% | +24% | +31% | +29% |
| EPS | ₹3.17 | ₹2.36 | ₹2.17 | ₹2.59 | ₹2.72 | ₹1.84 | ₹2.20 | ₹3.21 | ₹2.02 | ₹2.28 | ₹2.53 | ₹4.12 |
| Flags | · | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Exide Industries Ltd. reported revenue of ₹4,436 cr (+4.5% on the year) and net profit of ₹221 cr (−1.3% on the year) for April to June 2024.
Profit before other income, exceptional items and tax moved +6.8% on the year, against −1.3% for reported profit.
None of the 7 checks that could run raised a question.
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