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