Want to see IN:EXIDEIND full AI Analyst Report?
Top Page
Exide Industries Limited
(EXIDEIND)
Select Model
Select Model
Rating:63Neutral
Price Target:
₹447.00
▲(35.43% Upside)
Action:Reiterated
Date:07/03/26
The score is primarily supported by solid balance-sheet strength and constructive technical trend (price above major moving averages with positive MACD). Offsetting these positives are uneven cash-flow conversion and a slowdown/margin pressure in 2026, while valuation is a notable headwind due to the high P/E and low dividend yield.
Positive Factors
Conservative balance sheet
Low leverage and a large, stable equity base provide durable financial flexibility. This supports capex for plant upgrades, cushions commodity or cyclical shocks in auto/industrial demand, and leaves room to fund OEM contracts or strategic investments without stressing liquidity.
Negative Factors
Volatile cash conversion
Multi-year negative free cash flow before 2026 shows uneven cash conversion, driven by working-capital and capex swings. That volatility weakens confidence in funding consistency for investments, dividends or cyclic downturns despite the recent FCF pickup.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a large, stable equity base provide durable financial flexibility. This supports capex for plant upgrades, cushions commodity or cyclical shocks in auto/industrial demand, and leaves room to fund OEM contracts or strategic investments without stressing liquidity.
Read all positive factors
Exide Industries Limited (EXIDEIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹356.36B
Dividend Yield0.54%
Average Volume (3M)152.38K
Price to Earnings (P/E)41.8
Beta (1Y)1.06
Revenue Growth4.39%
EPS Growth7.44%
CountryIN
Employees5,466
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)9.27
Shares Outstanding850,000,000
10 Day Avg. Volume115,636
30 Day Avg. Volume152,381
Financial Highlights & Ratios
PEG Ratio3.83
Price to Book (P/B)1.76
Price to Sales (P/S)1.36
P/FCF Ratio20.43
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹445.00Price Target Upside34.83% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)14.61
Revenue Forecast (FY)₹188.13B
Exide Industries Limited Business Overview & Revenue Model
Company Description
Exide Industries Limited designs, manufactures, markets, and sells lead acid storage batteries in India and internationally. The company operates through two segments, Automotive and Industrial. It offers automotive, infrastructural, genset, solar...
How the Company Makes Money
Exide Industries primarily makes money by manufacturing and selling batteries and related stored-energy products into two broad segments: (1) automotive and (2) industrial. In the automotive segment, revenue comes from supplying batteries to vehic...
Exide Industries Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 174.12B | 179.95B | 172.38B | 167.70B | 150.78B | 127.89B |
| Gross Profit | 55.82B | 38.42B | 55.71B | 52.86B | 46.65B | 40.67B |
| EBITDA | 17.98B | 19.61B | 17.63B | 17.78B | 15.57B | 13.69B |
| Net Income | 7.89B | 8.54B | 7.95B | 8.77B | 8.23B | 43.67B |
Balance Sheet | ||||||
| Total Assets | 218.16B | 212.20B | 213.96B | 181.50B | 140.51B | 139.11B |
| Cash, Cash Equivalents and Short-Term Investments | 9.03B | 10.89B | 4.99B | 5.82B | 7.35B | 9.01B |
| Total Debt | 16.45B | 15.75B | 20.17B | 11.23B | 6.42B | 5.20B |
| Total Liabilities | 70.67B | 72.89B | 74.62B | 52.49B | 28.41B | 32.87B |
| Stockholders Equity | 147.25B | 139.05B | 139.13B | 128.86B | 111.32B | 105.84B |
Cash Flow | ||||||
| Free Cash Flow | 8.22B | 11.98B | -6.76B | -3.45B | -2.28B | -6.05B |
| Operating Cash Flow | 14.23B | 23.50B | 12.73B | 15.31B | 7.68B | 612.50M |
| Investing Cash Flow | -8.79B | -15.72B | -19.34B | -14.58B | -7.99B | 647.60M |
| Financing Cash Flow | -6.13B | -7.21B | 5.15B | 1.08B | -301.00M | -1.37B |
Exide Industries Limited Technical Analysis
Positive
330.05
Price Trends
369.59
Positive
344.88
Positive
361.39
Positive
Market Momentum
5.49
Positive
55.78
Neutral
30.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EXIDEIND, the sentiment is Positive. The current price of 330.05 is below the 20-day moving average (MA) of 389.72, below the 50-day MA of 369.59, and below the 200-day MA of 361.39, indicating a bullish trend. The MACD of 5.49 indicates Positive momentum. The RSI at 55.78 is Neutral, neither overbought nor oversold. The STOCH value of 30.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:EXIDEIND.
Exide Industries Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹169.15B | 46.31 | ― | 0.23% | 22.33% | 42.69% | |
67 Neutral | ₹189.70B | 34.31 | ― | 0.31% | 25.61% | 9.11% | |
63 Neutral | ₹356.36B | 41.77 | ― | 0.54% | 4.39% | 7.44% | |
62 Neutral | ₹149.10B | 48.00 | ― | 1.57% | 69.14% | 44.89% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | ₹26.95B | 24.06 | ― | ― | 84.05% | 18.64% | |
46 Neutral | ₹210.50B | -10.66 | ― | ― | -50.09% | 19.13% |
* Consumer Cyclical Sector Average
IN:EXIDEIND
Exide Industries Limited
419.25
37.35
9.78%
IN:MAHSCOOTER
Maharashtra Scooters Ltd
13,046.40
-1,737.41
-11.75%
IN:MINDACORP
Minda Corp. Ltd.
707.50
190.08
36.74%
IN:OLAELEC
Ola Electric Mobility Limited
45.48
4.90
12.07%
IN:RAJESHEXPO
Rajesh Exports Limited
91.27
-110.13
-54.68%
IN:SHRIPISTON
Shriram Pistons & Rings Ltd.
4,306.50
1,734.24
67.42%
Exide Industries Limited Corporate Events
Exide Relaunches 100-Day ‘Saksham Niveshak’ Drive to Trace Unclaimed Dividends
Apr 25, 2026
Exide Industries has relaunched the second phase of its 100-day “Saksham Niveshak” campaign, running from 1 April to 9 July 2026, in line with directions from the Ministry of Corporate Affairs. The initiative aims to locate shareholder...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.