Exide Industries - Upward March Continues In Q3: Dolat Capital 
A car battery is installed in a Volkswagen Vento (Source: BloombergQuint)

Exide Industries - Upward March Continues In Q3: Dolat Capital 

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.

Dolat Capital Report

Exide Industries Ltd. posted a strong operating performance in Q3 led by strong replacement demand.

Revenue grew 16% YoY to Rs 28 billion led by improvement in automotive replacement demand and traction in uninterruptible power supply batteries.

Ebitda was in line with estimates, at Rs 4 billion (up 26% YoY) with margin of 14.4% (up 112 basis points YoY) led by cost control measures.

The key near to medium term tailwinds for the company include -

  1. Strong pickup in replacement demand led by increasing preference of personal mobility, traction in used car sales, pick up in logistics movement and change in rural versus urban sales mix,

  2. recovery in original equipment manufacturers volume

Click on the attachment to read the full report:

Dolat Capital Exide Industries Q3FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.