IDBI Capital: Exide Industries Posts Better Than Expected Q2 Results, Recovery Ahead
Employees assemble battery components at a research center and battery assembly plant in Rainbach, Austria. (Photographer: Lisi Niesner/Bloomberg)

IDBI Capital: Exide Industries Posts Better Than Expected Q2 Results, Recovery Ahead

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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.

IDBI Capital Report

Exide Industries Ltd. reported better than expected results as sales/ebitda/net profit were higher than our forecasts by 11%/19%/27%.

Net sales increased 5.5% YoY to Rs 27.5 billion led by improvement in demand from replacement and uninterruptible power supply segments.

Ebitda improved 6.8% YoY to Rs 3,920 million and Ebitda margin stood at 14.2%, a marginal expansion of 17 basis points YoY.

However, sharp increases in interest and tax expenses led the company’s net profit to fall by 3.6% YoY to Rs 2,288 million.

Click on the attachment to read the full report:

IDBI Capital Exide Industries Q2FY21 Result Update.pdf

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