Exide Industries Q4 Review - Healthy Revenue Growth Drives Beat: Prabhudas Lilladher
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Exide Industries Q4 Review - Healthy Revenue Growth Drives Beat: Prabhudas Lilladher

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

Exide Industries Ltd.’s Q4 FY21 results exceeded expectations as Ebitda/adjusted profit after tax came 8- 12% higher to our estimate, led by effective cost control.

While there was a significant pick up in automotive segment (both original equipment and replacement), industrial and UPS division too started picking up.

Going forward we believe stronger growth in replacement segment (approximately 65% of industry) to continue coupled with new product launches across segments.

Consequently, operating leverage and cost control to offset lead inflation keeping FY22 margins stable and expanding ~100 basis point in FY23.

Click on the attachment to read the full report:

Prabhudas Lilldher Exide Industries Q4FY21 Result Review.pdf

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