EXIDEIND
Exide Industries Limited
One of India's largest lead-acid battery makers, now building lithium-ion cells
Consumer Discretionary›Automobile and Auto Components›Auto Components›Auto Components & Equipments
exideindustries.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹370.95
Market cap
31,555 Cr
Stock P/E
33.9
P/B
2.27
Dividend yield
0.5%
ROE (FY26)
6.1%
ROCE (FY26)
9.1%
Operating margin (FY26)
7.1%
Debt / equity (FY26)
0.08
OCF / EBITDA (FY26)
129.0%
OCF / EBITDA (3Y)
95.1%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Exide (Exide Industries) makes lead-acid storage batteries for vehicle makers, for vehicle owners replacing batteries, and for home inverter, solar, telecom and industrial users, and it is building lithium-ion cell manufacturing in Bengaluru through a wholly owned subsidiary, Exide Energy Solutions Limited (EESL).
Company snapshot
10thBy market cap
Ranked among 94 companies in Auto Components & Equipments.
Segment mix
Reportable segments as of 2023-09-30 (Consolidated). Revenue share = segment revenue ÷ total revenue.
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Segment Revenue (Income) | — | 0 Cr | 0 Cr | — |
What we see
Positives
- ✓95% of operating profit came in as cash over the last three years — profits are backed by real cash.
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Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,372 Cr | 3,980 Cr | 4,173 Cr | 4,436 Cr | 4,450 Cr | 4,017 Cr | 4,335 Cr | 4,695 Cr | 4,365 Cr | 4,201 Cr | 4,735 Cr | 5,528 Cr |
| Operating expenses (approx.) | 3,872 Cr | 3,548 Cr | 3,725 Cr | 3,963 Cr | 3,978 Cr | 3,592 Cr | 3,907 Cr | 4,157 Cr | 3,973 Cr | 3,748 Cr | 4,247 Cr | 4,907 Cr |
| EBITDA | 499 Cr | 432 Cr | 448 Cr | 473 Cr | 472 Cr | 425 Cr | 428 Cr | 538 Cr | 391 Cr | 452 Cr | 489 Cr | 621 Cr |
| OPM % | 11.4% | 10.9% | 10.7% | 10.7% | 10.6% | 10.6% | 9.9% | 11.5% | 9.0% | 10.8% | 10.3% | 11.2% |
| Other income | 37 Cr | 25 Cr | 5 Cr | 16 Cr | 40 Cr | 13 Cr | 44 Cr | 28 Cr | 54 Cr | 15 Cr | 4 Cr | 27 Cr |
| Interest | 30 Cr | 32 Cr | 31 Cr | 30 Cr | 34 Cr | 54 Cr | 35 Cr | 32 Cr | 40 Cr | 25 Cr | 27 Cr | 20 Cr |
| Depreciation | 141 Cr | 145 Cr | 142 Cr | 144 Cr | 146 Cr | 145 Cr | 148 Cr | 149 Cr | 152 Cr | 149 Cr | 138 Cr | 142 Cr |
| Profit before tax | 366 Cr | 281 Cr | 281 Cr | 316 Cr | 332 Cr | 238 Cr | 290 Cr | 385 Cr | 253 Cr | 283 Cr | 327 Cr | 487 Cr |
| Tax % | 26.0% | 27.8% | 33.8% | 30.2% | 29.8% | 33.4% | 35.1% | 28.7% | 31.5% | 31.1% | 33.8% | 27.9% |
| Net profit | 270 Cr | 203 Cr | 186 Cr | 221 Cr | 233 Cr | 158 Cr | 188 Cr | 275 Cr | 174 Cr | 195 Cr | 217 Cr | 351 Cr |
| EPS (₹) | ₹3.16 | ₹2.36 | ₹2.17 | ₹2.59 | ₹2.72 | ₹1.84 | ₹2.20 | ₹3.21 | ₹2.02 | ₹2.29 | ₹2.53 | ₹4.12 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 12,150 Cr | 13,083 Cr | 14,721 Cr | 14,471 Cr | 15,297 Cr | 12,789 Cr | 15,078 Cr | 16,770 Cr | 17,238 Cr | 17,995 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 10,784 Cr | 11,688 Cr | 13,169 Cr | 13,025 Cr | 13,716 Cr | 11,389 Cr | 13,490 Cr | 14,953 Cr | 15,440 Cr | 16,125 Cr | Sign in free for the trailing twelve months |
| EBITDA | 1,367 Cr | 1,395 Cr | 1,551 Cr | 1,446 Cr | 1,580 Cr | 1,400 Cr | 1,589 Cr | 1,817 Cr | 1,798 Cr | 1,870 Cr | Sign in free for the trailing twelve months |
| OPM % | 11.2% | 10.7% | 10.5% | 10.0% | 10.3% | 10.9% | 10.5% | 10.8% | 10.4% | 10.4% | Sign in free for the trailing twelve months |
| Other income | 103 Cr | 68 Cr | 40 Cr | 62 Cr | 70 Cr | 62 Cr | 125 Cr | 90 Cr | 113 Cr | 101 Cr | Sign in free for the trailing twelve months |
| Interest | 146 Cr | 106 Cr | 107 Cr | 97 Cr | 142 Cr | 61 Cr | 74 Cr | 116 Cr | 153 Cr | 124 Cr | Sign in free for the trailing twelve months |
| Depreciation | 226 Cr | 267 Cr | 344 Cr | 418 Cr | 434 Cr | 440 Cr | 502 Cr | 560 Cr | 582 Cr | 589 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 1,097 Cr | 1,048 Cr | 1,249 Cr | 972 Cr | 1,074 Cr | 5,398 Cr | 1,138 Cr | 1,231 Cr | 1,176 Cr | 1,249 Cr | Sign in free for the trailing twelve months |
| Tax % | 26.7% | 33.8% | 32.2% | 21.5% | 25.3% | 19.3% | 27.7% | 28.3% | 31.9% | 31.1% | Sign in free for the trailing twelve months |
| Net profit | 804 Cr | 694 Cr | 847 Cr | 762 Cr | 803 Cr | 4,357 Cr | 823 Cr | 883 Cr | 801 Cr | 860 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹9.42 | ₹8.13 | ₹9.95 | ₹9.14 | ₹9.53 | ₹51.38 | ₹9.68 | ₹10.31 | ₹9.35 | ₹10.05 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 21.2% | 3.9% | 0.0% | 19.3% | 21.2% | 19.8% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 85 Cr | 85 Cr | 85 Cr | 85 Cr | 85 Cr | 85 Cr | 85 Cr | 85 Cr | 85 Cr | 85 Cr |
| Reserves | 4,947 Cr | 5,344 Cr | 6,022 Cr | 6,382 Cr | 7,187 Cr | 10,499 Cr | 11,047 Cr | 12,801 Cr | 13,828 Cr | 13,820 Cr |
| Borrowings | 185 Cr | 59 Cr | 85 Cr | 67 Cr | 132 Cr | 209 Cr | 279 Cr | 697 Cr | 1,561 Cr | 1,093 Cr |
| Other liabilities | 12,539 Cr | 14,316 Cr | 16,216 Cr | 17,786 Cr | 21,236 Cr | 3,077 Cr | 3,347 Cr | 4,552 Cr | 5,901 Cr | 6,196 Cr |
| Total liabilities | 17,772 Cr | 19,822 Cr | 22,441 Cr | 24,368 Cr | 28,687 Cr | 13,911 Cr | 14,768 Cr | 18,150 Cr | 21,396 Cr | 21,220 Cr |
| Fixed assets (net) | 1,648 Cr | 2,065 Cr | 2,456 Cr | 2,499 Cr | 2,970 Cr | 3,240 Cr | 3,582 Cr | 3,760 Cr | 3,854 Cr | 3,937 Cr |
| CWIP | 146 Cr | 237 Cr | 265 Cr | 361 Cr | 379 Cr | 322 Cr | 335 Cr | 1,165 Cr | 3,426 Cr | 3,938 Cr |
| Investments | 11,884 Cr | 12,491 Cr | 14,328 Cr | 15,816 Cr | 19,340 Cr | 5,558 Cr | 5,106 Cr | 5,940 Cr | 6,468 Cr | 6,131 Cr |
| Loans & advances | — | — | 18 Cr | 23 Cr | 21 Cr | 0.28 Cr | 0.26 Cr | 0.36 Cr | 0.34 Cr | 0.26 Cr |
| Inventories | 1,702 Cr | 2,005 Cr | 2,065 Cr | 2,415 Cr | 2,637 Cr | 2,855 Cr | 3,436 Cr | 3,869 Cr | 4,565 Cr | 4,004 Cr |
| Trade receivables | 739 Cr | 1,094 Cr | 1,245 Cr | 1,061 Cr | 1,076 Cr | 1,098 Cr | 1,230 Cr | 1,382 Cr | 1,686 Cr | 1,575 Cr |
| Cash & bank | 315 Cr | 309 Cr | 341 Cr | 331 Cr | 342 Cr | 189 Cr | 132 Cr | 323 Cr | 181 Cr | 251 Cr |
| Other assets | 1,338 Cr | 1,623 Cr | 1,722 Cr | 1,863 Cr | 1,922 Cr | 647 Cr | 946 Cr | 1,711 Cr | 1,216 Cr | 1,385 Cr |
| Total assets | 17,772 Cr | 19,822 Cr | 22,441 Cr | 24,368 Cr | 28,687 Cr | 13,911 Cr | 14,768 Cr | 18,150 Cr | 21,396 Cr | 21,220 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 937 Cr | 914 Cr | 1,687 Cr | 1,619 Cr | 2,263 Cr | 61 Cr | 768 Cr | 1,531 Cr | 1,273 Cr | 2,413 Cr |
| Cash from investing | -728 Cr | -537 Cr | -1,437 Cr | -1,097 Cr | -2,080 Cr | 66 Cr | -799 Cr | -1,458 Cr | -1,934 Cr | -1,551 Cr |
| Cash from financing | -182 Cr | -386 Cr | -217 Cr | -532 Cr | -170 Cr | -172 Cr | -30 Cr | 110 Cr | 515 Cr | -805 Cr |
| Net cash flow | 27 Cr | -8 Cr | 33 Cr | -10 Cr | 11 Cr | -57 Cr | -57 Cr | 191 Cr | -142 Cr | 70 Cr |
| Free cash flow (OCF − Capex) | 496 Cr | 107 Cr | 876 Cr | 1,011 Cr | 1,762 Cr | -605 Cr | -228 Cr | -345 Cr | -676 Cr | 1,261 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 23.8% | 20.9% | 21.8% | 16.2% | 16.3% | 50.4% | 10.6% | 9.9% | 8.6% | 9.1% |
| ROE % | 15.9% | 12.7% | 13.8% | 11.9% | 11.1% | 41.1% | 7.4% | 6.8% | 5.7% | 6.1% |
| Debtor days | 22 | 30 | 31 | 27 | 26 | 31 | 30 | 30 | 36 | 32 |
| Inventory days | 124 | 120 | 106 | 134 | 144 | 117 | 118 | 123 | 142 | 120 |
| Days payable | 89 | 91 | 81 | 89 | 130 | 76 | 64 | 86 | 104 | 110 |
| Cash conversion cycle | 58 | 59 | 56 | 72 | 40 | 73 | 84 | 67 | 74 | 42 |
| OCF / EBITDA % | 68.6% | 65.5% | 108.7% | 112.0% | 143.2% | 4.4% | 48.4% | 84.3% | 70.8% | 129.0% |
| OCF / EBITDA % (3 years) | — | — | 82.0% | 96.1% | 121.7% | 89.1% | 67.7% | 49.1% | 68.7% | 95.1% |
| Debt / equity | 0.04 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.05 | 0.11 | 0.08 |
| Current ratio | 1.85 | 1.67 | 1.62 | 1.66 | 1.31 | 1.83 | 1.90 | 1.41 | 1.23 | 1.23 |
| Net debt / EBITDA | -0.10 | -0.18 | -0.17 | -0.18 | -0.13 | 0.01 | 0.09 | 0.21 | 0.77 | 0.45 |