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Exide Industries Limited
(EXIDEIND)
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Rating:56Neutral
Price Target:
₹422.00
▼(-4.73% Downside)
Action:Reiterated
Date:10/03/26
The score is driven primarily by financial performance: a strong, low-leverage balance sheet is a meaningful positive, but slower growth, margin pressure, and historically inconsistent cash generation limit confidence. Technical indicators are bearish (below key moving averages with negative MACD), and valuation is stretched (high P/E with low dividend yield), which further caps the overall score.
Positive Factors
Conservative balance sheet
Low leverage and a large, stable equity base give Exide financial flexibility to withstand operating volatility and fund strategic needs. This conservative balance-sheet profile reduces dependence on borrowing and supports resilience across the automotive and industrial battery cycles.
Negative Factors
Slowing revenue growth
Slower top-line growth indicates that recent expansion is losing momentum, which can limit operating leverage and reduce the pace at which Exide compounds earnings. Continued moderation would make it harder to absorb costs, expand capacity and strengthen its competitive position.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a large, stable equity base give Exide financial flexibility to withstand operating volatility and fund strategic needs. This conservative balance-sheet profile reduces dependence on borrowing and supports resilience across the automotive and industrial battery cycles.
Read all positive factors
Exide Industries Limited (EXIDEIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹334.99B
Dividend Yield0.51%
Average Volume (3M)127.68K
Price to Earnings (P/E)36.1
Beta (1Y)1.16
Revenue Growth7.61%
EPS Growth9.87%
CountryIN
Employees5,143
SectorGeneral
Sector StrengthN/A
IndustryAuto - Parts
Share Statistics
EPS (TTM)10.95
Shares Outstanding850,000,000
10 Day Avg. Volume110,223
30 Day Avg. Volume127,677
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
₹525.00Price Target Upside18.52% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)16.43
Revenue Forecast (FY)₹197.26B
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 makes money mainly by selling lead-acid batteries across two primary customer segments: (1) Automotive and (2) Industrial. In the automotive segment, revenue is generated from supplying batteries to vehicle manufacturers (OEM chan...
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 | 188.29B | 179.95B | 172.38B | 167.70B | 150.78B | 127.89B |
| Gross Profit | 50.12B | 38.42B | 55.71B | 52.86B | 46.65B | 40.67B |
| EBITDA | 20.44B | 19.61B | 17.98B | 18.19B | 15.90B | 14.00B |
| Net Income | 9.32B | 8.54B | 7.95B | 8.77B | 8.23B | 43.67B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 212.20B | 213.96B | 181.50B | 140.51B | 139.11B |
| Cash, Cash Equivalents and Short-Term Investments | 10.82B | 10.89B | 4.99B | 5.82B | 7.35B | 9.01B |
| Total Debt | 0.00 | 15.75B | 20.17B | 11.23B | 6.42B | 5.20B |
| Total Liabilities | -139.31B | 72.89B | 74.62B | 52.49B | 28.41B | 32.87B |
| Stockholders Equity | 139.31B | 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
Negative
442.95
Price Trends
435.93
Negative
419.62
Negative
376.44
Positive
Market Momentum
-10.02
Positive
32.56
Neutral
12.80
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EXIDEIND, the sentiment is Negative. The current price of 442.95 is above the 20-day moving average (MA) of 412.75, above the 50-day MA of 435.93, and above the 200-day MA of 376.44, indicating a neutral trend. The MACD of -10.02 indicates Positive momentum. The RSI at 32.56 is Neutral, neither overbought nor oversold. The STOCH value of 12.80 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:EXIDEIND.
Exide Industries Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹27.29B | 23.38 | ― | 1.31% | 30.04% | 31.64% | |
69 Neutral | ₹1.31T | 56.04 | ― | 0.60% | 13.63% | -11.32% | |
66 Neutral | ₹1.34T | 56.62 | ― | 1.37% | 15.30% | 10.55% | |
60 Neutral | ₹221.63B | 35.95 | ― | 1.70% | 28.68% | -7.21% | |
60 Neutral | ₹639.26B | 53.26 | ― | 0.24% | 18.80% | 15.62% | |
56 Neutral | ₹334.99B | 36.07 | ― | 0.51% | 7.61% | 9.87% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:EXIDEIND
Exide Industries Limited
395.45
4.57
1.17%
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Exide Industries Limited Corporate Events
Exide India and ExCom Germany Forge EEA Battery Partnership
Sep 16, 2026
Exide Industries Limited of India has entered into a long-term strategic cooperation agreement with Germany-based ExCom Energy Solutions GmbH to strengthen their industrial battery and energy storage business across the European Economic Area. Und...
Exide Industries Shares Q1 FY27 Investor Presentation with Markets
Aug 1, 2026
Exide Industries Limited has released an investor presentation detailing its performance for the first quarter of FY 2026-27, coinciding with an earnings call for analysts and investors scheduled for August 3, 2026. The presentation, which highlig...
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.