Exide Industries Ltd.

BSE: EXIDEIND500086ISIN INE302A01020

Consumer Discretionary
Auto Components & Equipments
BSE 500

Share price

₹366.25+19.90 (+5.75%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹496.00
52W low: ₹286.85
Off 52W high: -26.16%
1M return: -9.61%
3M return: -21.62%
6M return: +4.14%
1Y return: -3.52%
20D avg volume: 1,98,805
50 DMA: ₹400.07
200 DMA: ₹376.75

Key ratios Consolidated

Market cap: ₹31,131 Cr
Current price: ₹366.25
52W high / low: ₹496.00 / ₹286.85
Face value: ₹1.00
P/E: 29.64
P/B: 2.25
EPS (TTM): ₹12.35
Book value / share: ₹162.93
ROE: —
ROCE: 8.90%
Operating margin: —
Net margin: —
Debt / equity: 0.08
Net debt: ₹842.34 Cr
Interest cover: 11.08
Dividend yield: 0.55%
Dividend / share (TTM): ₹2.00
Payout: 16.19%
Cash conversion cycle: 38.5 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	5,292	5,528	4,735	4,201	4,365	4,695	4,335	4,017	4,450	4,436	4,173	3,980
	42.10	26.87	4.24	15.39	53.66	27.57	43.53	12.69	40.25	16.33	5.06	25.20
	5,334	5,555	4,739	4,216	4,418	4,723	4,379	4,029	4,490	4,452	4,178	4,005
	4,911	5,069	4,412	3,923	4,165	4,338	4,090	3,791	4,158	4,136	3,898	3,724
	3,884	3,524	3,169	2,952	2,961	3,092	3,035	2,650	3,124	2,888	2,956	2,979
	37.20	36.69	40.68	19.43	8.74	37.17	19.51	10.30	79.98	9.83	40.42	14.69
	403.19	381.21	352.14	334.09	342.25	343.69	321.70	323.49	329.96	321.16	297.78	293.77
	31.02	19.81	26.62	25.07	39.74	32.40	34.86	54.36	34.02	29.79	30.76	31.65
	149.30	142.07	138.38	149.33	152.10	148.94	147.64	145.03	145.91	143.76	141.83	144.70
	710.79	705.10	656.03	605.64	656.20	642.67	649.57	589.48	673.63	633.41	675.45	584.63
	423.29	486.47	327.74	293.17	253.24	384.57	288.97	237.92	332.62	315.95	280.44	280.73
	0.00	0.00	0.00	-10.38	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	423.29	486.47	327.74	282.79	253.24	384.57	288.97	237.92	332.62	315.95	280.44	280.73
	136.59	135.73	110.72	88.15	79.69	110.33	101.61	79.58	98.97	95.30	94.92	77.95
	287.14	351.30	216.73	194.97	173.64	274.58	187.91	158.44	233.40	220.75	185.70	202.69
	3.37	4.12	2.53	2.29	2.02	3.21	2.20	1.84	2.72	2.59	2.17	2.36
Key metrics
	603.61	648.35	492.74	457.19	445.08	565.91	471.47	437.31	512.55	489.50	453.03	457.08
	11.40%	11.70%	10.40%	10.90%	10.20%	12.10%	10.90%	10.90%	11.50%	11.00%	10.90%	11.50%
	5.40%	6.40%	4.60%	4.60%	4.00%	5.80%	4.30%	3.90%	5.20%	5.00%	4.50%	5.10%
	3.00%	—	2.30%	—	1.80%	—	2.10%	—	—	—	—	—
	21.20%	17.70%	9.20%	4.60%	-1.90%	5.80%	3.90%	0.90%	—	—	—	—
	65.40%	27.90%	15.30%	23.10%	-25.60%	24.40%	1.20%	-21.80%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	19,756	17,995	17,238	16,770	15,078	12,789	15,297	14,471	14,721	13,083	12,229
	88.60	100.86	112.80	89.95	124.74	62.07	70.45	61.88	39.88	67.65	69.06
	19,845	18,096	17,351	16,860	15,203	12,851	15,367	14,533	14,761	13,150	12,298
	18,314	16,837	16,175	15,629	14,066	11,890	14,292	13,539	13,620	12,061	11,201
	13,528	12,174	11,697	11,482	10,586	8,882	6,646	6,567	7,076	6,087	4,990
	134.00	106.02	119.62	216.31	77.77	63.92	41.77	54.25	52.99	181.93	—
	1,471	1,372	1,296	1,167	1,003	906.36	1,122	1,119	1,034	962.09	—
	102.52	123.83	153.03	116.00	73.84	60.93	142.19	96.59	107.08	105.65	146.29
	579.08	588.75	582.34	560.42	502.12	439.52	433.65	417.58	343.54	267.21	—
	2,678	2,561	2,546	2,388	2,134	1,806	3,560	3,881	3,328	3,004	2,689
	1,531	1,259	1,175	1,231	1,137	961.55	1,075	993.58	1,141	1,090	1,097
	-10.38	-10.38	0.00	0.00	0.00	-0.94	0.00	-21.70	108.29	-41.83	0.00
	1,520	1,248	1,175	1,231	1,137	960.61	1,075	971.88	1,249	1,048	1,097
	471.19	388.89	375.46	348.35	314.82	266.30	271.29	209.40	401.66	353.77	293.12
	1,050	859.92	800.50	882.82	822.77	4,357	803.10	762.48	847.35	694.10	804.02
	12.31	10.05	9.35	10.31	9.68	8.29	9.53	9.14	9.95	—	—
Key metrics
	2,202	1,961	1,911	1,907	1,713	1,461	1,651	1,486	1,700	1,421	1,243
	11.15%	10.90%	11.10%	11.40%	11.40%	11.40%	10.80%	10.30%	11.50%	10.90%	10.20%
	5.32%	4.80%	4.60%	5.30%	5.50%	34.10%	5.30%	5.30%	5.80%	5.30%	6.60%
	—	8.90%	8.60%	—	—	—	—	—	—	—	—
	13.46%	4.40%	2.80%	11.20%	17.90%	-16.40%	5.70%	-1.70%	12.50%	7.00%	—
	32.16%	7.40%	-9.30%	7.30%	-81.10%	442.50%	5.30%	-10.00%	22.10%	-13.70%	—
	—	1,261	-675.82	—	—	—	—	—	—	—	—
	—	2.81	1.59	—	—	—	—	—	—	—	—
	—	0.08	0.11	—	—	—	—	—	—	—	—
	—	842.34	1,380	—	—	—	—	—	—	—	—
	—	38.5	61.6	—	—	—	—	—	—	—	—
Balance sheet
	—	21,220	21,396	—	—	—	—	—	—	—	—
	—	7,101	7,214	—	—	—	—	—	—	—	—
	—	250.81	180.82	—	—	—	—	—	—	—	—
	—	1,575	1,686	—	—	—	—	—	—	—	—
	—	4,004	4,565	—	—	—	—	—	—	—	—
	—	298.43	352.29	—	—	—	—	—	—	—	—
	—	3,937	3,854	—	—	—	—	—	—	—	—
	—	3,676	3,345	—	—	—	—	—	—	—	—
	—	5,781	5,880	—	—	—	—	—	—	—	—
	—	1,093	1,561	—	—	—	—	—	—	—	—
	—	186.70	618.10	—	—	—	—	—	—	—	—
	—	906.45	943.07	—	—	—	—	—	—	—	—
	—	13,931	13,934	—	—	—	—	—	—	—	—
Cash flow
	—	2,413	1,273	—	—	—	—	—	—	—	—
	—	-1,551	-1,934	—	—	—	—	—	—	—	—
	—	-804.51	514.62	—	—	—	—	—	—	—	—
	—	1,153	1,949	—	—	—	—	—	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	5,026	5,305	4,551	4,030	4,178	4,510	4,159	3,849	4,267	4,313	4,009	3,841
	42.44	14.04	14.19	18.29	42.43	18.16	16.05	13.15	52.81	14.15	3.43	22.73
	5,069	5,319	4,565	4,048	4,221	4,528	4,175	3,862	4,320	4,327	4,013	3,863
	4,546	4,776	4,145	3,696	3,923	4,098	3,832	3,536	3,921	3,953	3,631	3,542
	3,642	3,431	3,206	2,927	2,896	3,130	3,049	2,571	3,085	2,871	2,908	2,872
	54.78	51.54	32.24	11.86	1.38	1.08	0.70	0.33	0.56	1.10	—	1.88
	315.06	300.25	275.06	263.68	268.35	273.97	261.37	261.90	267.53	265.00	242.63	246.73
	8.74	8.31	8.40	8.46	8.93	9.07	12.98	11.96	10.29	8.66	12.82	14.46
	117.67	117.63	115.79	126.98	130.57	127.61	126.77	124.43	126.99	125.74	124.82	127.36
	615.22	610.74	563.53	539.05	583.02	568.35	570.94	520.38	594.83	563.97	564.57	522.75
	522.32	543.32	420.41	352.42	297.58	429.70	342.99	325.31	399.13	374.05	381.94	320.84
	0.00	0.00	0.00	-9.04	0.00	0.00	0.00	—	—	—	—	—
	522.32	543.32	420.41	343.38	297.58	429.70	342.99	325.31	399.13	374.05	381.94	320.84
	135.87	136.06	107.97	85.68	76.84	109.25	88.39	80.32	101.36	94.48	98.19	80.57
	386.45	407.26	312.44	257.70	220.74	320.45	254.60	244.99	297.77	279.57	283.75	240.27
	4.55	4.79	3.68	3.03	2.60	3.77	3.00	2.88	3.50	3.29	3.34	2.83
Key metrics
	648.73	669.26	544.60	478.82	437.08	566.38	482.74	461.70	536.41	508.45	519.58	462.66
	12.90%	12.60%	12.00%	11.90%	10.50%	12.60%	11.60%	12.00%	12.60%	11.80%	13.00%	12.00%
	7.70%	7.70%	6.90%	6.40%	5.30%	7.10%	6.10%	6.40%	7.00%	6.50%	7.10%	6.30%
	3.50%	—	2.80%	—	1.90%	—	2.40%	—	—	—	—	—
	20.30%	17.60%	9.40%	4.70%	-2.10%	4.60%	3.70%	0.20%	—	—	—	—
	75.10%	27.10%	22.70%	5.20%	-25.90%	14.60%	-10.30%	2.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	18,912	17,269	16,588	16,029	14,592	12,382	10,041	9,857	10,588	9,460	8,591
	88.96	93.07	96.16	84.54	132.39	80.34	65.44	63.94	38.50	58.41	111.98
	19,001	17,362	16,684	16,114	14,724	12,462	10,106	9,921	10,627	9,518	8,703
	17,162	15,862	15,243	14,704	13,509	11,437	9,088	8,864	9,497	8,470	7,727
	13,206	12,159	11,575	11,263	10,487	8,764	6,528	6,520	6,989	6,130	4,986
	150.42	46.56	2.69	7.35	14.98	8.91	7.46	6.17	18.51	24.84	15.71
	1,154	1,081	1,056	982.68	871.96	789.28	721.52	666.40	637.66	597.17	519.57
	33.91	34.86	43.89	48.59	29.53	38.43	23.77	9.40	6.05	5.24	4.31
	478.07	500.95	503.93	497.45	455.78	412.61	379.35	362.63	313.50	245.94	—
	2,329	2,254	2,250	2,107	1,953	1,622	1,384	1,559	1,569	1,338	1,319
	1,838	1,500	1,441	1,410	1,215	1,025	1,018	1,057	1,130	1,048	975.73
	-9.04	-9.04	0.00	—	—	4,694	—	-21.70	108.29	-41.83	—
	1,829	1,491	1,441	1,410	1,215	5,719	1,018	1,035	1,239	1,006	975.73
	465.58	379.74	364.55	356.92	311.46	1,035	259.62	209.68	394.53	337.81	282.09
	1,364	1,111	1,077	1,053	903.63	4,684	758.28	825.51	844.05	668.35	693.64
	16.05	13.07	12.67	12.39	10.63	55.10	8.92	9.71	9.93	—	0.00
Key metrics
	2,341	2,027	1,989	1,956	1,700	6,170	1,421	1,407	1,558	1,257	980.04
	12.38%	11.70%	12.00%	12.20%	11.70%	49.80%	14.20%	14.30%	14.70%	13.30%	11.40%
	7.21%	6.40%	6.50%	6.60%	6.20%	37.80%	7.60%	8.40%	8.00%	7.10%	8.10%
	—	10.10%	10.00%	—	—	—	—	—	—	—	—
	13.27%	4.10%	3.50%	9.80%	17.90%	23.30%	1.90%	-6.90%	11.90%	10.10%	—
	31.04%	3.20%	2.30%	16.50%	-80.70%	517.70%	-8.10%	-2.20%	26.30%	-3.60%	—
	—	1,812	856.64	—	—	—	—	—	—	—	—
	—	2.01	1.21	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	-164.61	-111.26	—	—	—	—	—	—	—	—
	—	38.6	56.6	—	—	—	—	—	—	—	—
Balance sheet
	—	19,257	18,819	—	—	—	—	—	—	—	—
	—	5,646	5,919	—	—	—	—	—	—	—	—
	—	164.61	111.26	—	—	—	—	—	—	—	—
	—	1,460	1,577	—	—	—	—	—	—	—	—
	—	3,492	3,827	—	—	—	—	—	—	—	—
	—	215.61	210.55	—	—	—	—	—	—	—	—
	—	2,759	2,861	—	—	—	—	—	—	—	—
	—	3,128	2,831	—	—	—	—	—	—	—	—
	—	4,128	3,902	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—	—
	—	14,674	14,442	—	—	—	—	—	—	—	—
Cash flow
	—	2,231	1,298	—	—	—	—	—	—	—	—
	—	-1,963	-1,180	—	—	—	—	—	—	—	—
	—	-215.24	-223.85	—	—	—	—	—	—	—	—
	—	419.13	441.28	—	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +5.78%
Sales CAGR 5Y: +11.45%
Profit CAGR 3Y: +7.14%
Profit CAGR 5Y: +7.95%
Sales YoY (TTM): +13.27%
Profit YoY (TTM): +31.04%

Consolidated

Sales CAGR 3Y: +6.07%
Sales CAGR 5Y: +3.30%
Profit CAGR 3Y: +1.48%
Profit CAGR 5Y: +1.38%
Sales YoY (TTM): +13.46%
Profit YoY (TTM): +32.16%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Coverage

INFORMED coverage

Exide Pumps Another ₹100 Crore into its Lithium-Ion Bet — the Factory Is Nearly Ready, but Profits Are Not

Shareholding as of 30 Sep 2026

Promoter holding: 45.99%

Quarter	September 2026	June 2026
Promoter %	45.99%	45.99%

Holder	Type	Holding	Previous	Change
Chloride Eastern Limited	Promoter	45.99%	45.99%	0.00%
Life Insurance Corporation Of India	Public	5.27%	5.95%	-0.68%
Hathway Investments Private Limited	Public	4.32%	4.32%	0.00%
Government Pension Fund Global	Public	2.28%	2.30%	-0.02%
Franklin India Flexi Cap Fund	Public	1.73%	1.70%	+0.03%
Sbi Life Insurance Co. Ltd	Public	1.68%	1.51%	+0.17%
Citibank N.A.	Public	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Samvardhana Motherson International Limited	1,69,717	159.25	36.90	10.90%	+14.02% TTM	+24.64% TTM	+52.47%
Bosch Ltd	1,49,840	50,800.00	63.41	24.30%	+13.63% TTM	-11.32% TTM	+34.19%
Bharat Forge Ltd	88,694	1,815.00	123.94	15.80%	+17.54% TTM	-30.02% TTM	+37.06%
UNO Minda Limited	69,117	1,196.90	53.56	17.90%	+18.80% TTM	+15.35% TTM	-4.40%
Sona BLW Precision Forgings Limited	55,766	892.00	75.38	13.30%	+43.07% TTM	+21.75% TTM	+84.45%
Schaeffler India Limited	54,886	3,511.50	41.79	—	—	—	-15.20%
Tube Investments of India Ltd	43,747	2,260.00	39.45	12.80%	+17.62% TTM	+6.56% TTM	-24.44%
Endurance Technologies Limited	35,086	2,494.30	34.50	16.30%	+31.99% TTM	+15.15% TTM	-14.03%
Dhoot Transmission Limited	33,444	1,635.00	—	—	—	—	—
Exide Industries Ltd.	31,131	366.25	29.64	8.90%	+13.46% TTM	+32.16% TTM	-3.52%
Craftsman Automation Limited	27,927	10,677.90	52.97	14.20%	+35.85% TTM	+119.55% TTM	+56.36%
Sansera Engineering Limited	27,648	4,429.55	78.72	13.60%	+23.49% TTM	+52.89% TTM	+189.79%
Motherson Sumi Wiring India Limited S	26,009	39.22	38.08	35.50%	+35.93% TTM	+11.75% TTM	-16.50%
Asahi India Glass Ltd.	25,070	983.40	45.71	10.80%	+19.75% TTM	+46.40% TTM	+2.72%
Gabriel India Ltd.	24,678	1,392.40	75.53	22.80%	+24.12% TTM	+38.28% TTM	+10.16%
ZF Commercial Vehicle Control Systems India Limited	24,345	2,139.15	48.76	18.50%	+9.03% TTM	+3.22% TTM	+0.07%
Sundram Fasteners Ltd.	22,794	1,084.75	35.98	18.20%	+17.24% TTM	+13.95% TTM	+12.64%
BELRISE INDUSTRIES LIMITED	21,253	219.75	41.93	14.70%	—	—	+51.19%
SPR Auto Technologies Limited	19,750	4,257.65	33.20	18.00%	+46.79% TTM	+8.24% TTM	+57.73%
Tenneco Clean Air India Limited	18,753	464.65	31.18	64.30%	—	—	—
Minda Corporation Limited	16,202	677.70	29.06	15.10%	+32.84% TTM	+108.97% TTM	+14.51%
Lumax Auto Technologies Ltd.	14,306	2,099.00	33.99	24.70%	+32.82% TTM	+57.49% TTM	+75.07%
SEDEMAC MECHATRONICS LIMITED S	13,737	3,106.75	—	31.00%	—	—	—
Amara Raja Energy & Mobility Limited	13,341	728.90	16.72	14.40%	+15.67% TTM	-11.47% TTM	-26.41%
CIE Automotive India Limited	13,295	350.45	14.25	—	+12.44% TTM	+15.35% TTM	-18.90%

Filings & corporate actions

Recent announcements

Please find enclosed letter w.r.t investor presentation Q2 FY 2026-27.4 Nov 2026 · Company Update / Investor Presentation
Please find enclosed letter w.r.t. Press Release : H1 FY27 Revenue growth 18.9%, PAT growth 46.7%. Sustained momentum in Q2. 6 GWh of Lithium-ion Cell Gigafactory Commissioned.4 Nov 2026 · Company Update / Press Release / Media Release
Please find enclosed letter w.r.t change in Registrar & Share Transfer Agent (RTA).4 Nov 2026 · Company Update / Allotment of Warrants
Please find enclosed letter w.r.t unaudited financial results for quarter and half year ended 30th September 2026.4 Nov 2026 · Result / Financial Results
Please find enclosed letter w.r.t outcome of Board Meeting for the quarter and half year ended 30th September 2026.4 Nov 2026 · Board Meeting / Outcome of Board Meeting
Please find enclosed letter w.r.t intimation of Earnings Call Q2 FY 2026-27.31 Oct 2026 · Company Update / Analyst / Investor Meet
Please find enclosed letter w.r.t further investment in Exide Energy Solutions Limited, Wholly Owned Subsidiary of the Company.27 Oct 2026 · Company Update / Acquisition
Please find enclosed certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for quarter ended 30th September 2026.22 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Please find enclosed letter w.r.t further investment in Exide Energy Solutions Limited, Wholly Owned Subsidiary of the Company.29 Sep 2026 · Company Update / Acquisition
Exide Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 04/11/2026 ,inter alia, to consider and approve unaudited financial results ....29 Sep 2026 · Board Meeting / Board Meeting
Please find enclosed letter w.r.t updates on Exide Energy Solutions Limited, Wholly Owned Subsidiary of the Company.23 Sep 2026 · Company Update / General
Please find enclosed newspaper publication w.r.t. Special window for relodgement of transfer requests of physical shares.17 Sep 2026 · Company Update / Newspaper Publication
Please find enclosed Press Release w.r.t. Exide, India and Excom, Germany entering into a Strategic Cooperation to strengthen Industrial Battery Business across European Economic Area16 Sep 2026 · Company Update / Press Release / Media Release
Please find enclosed newspaper advertisement w.r.t transfer of equity share to IEPF.8 Sep 2026 · Company Update / Newspaper Publication
Please find enclosed letter w.r.t closure of trading window for the quarter and half year ending 30th September 2026.25 Aug 2026 · Insider Trading / SAST / Closure of Trading Window
Please find enclosed letter w.r.t. further investment in Exide Energy Solutions Limited, wholly owned subsidiary of the Company.18 Aug 2026 · Company Update / Acquisition
Please find enclosed letter w.r.t. transcript of earnings call for Q1 FY 2026-27.6 Aug 2026 · Company Update / Earnings Call Transcript
Please find enclosed letter w.r.t audio recording of Investor meet held on 3rd August 2026.3 Aug 2026 · Company Update / Analyst / Investor Meet
Please find enclosed letter w.r.t investor presentation Q1 FY 2026-27.1 Aug 2026 · Company Update / Investor Presentation
Please find enclosed letter w.r.t unaudited financial results for quarter ended 30th June 202630 Jul 2026 · Result / Financial Results
Please find enclosed letter w.r.t Press release : Strong Start to FY27 : Revenue growth 17.6% and PAT growth of 27.1% reflecting operating leverage and sharper execution30 Jul 2026 · Company Update / Press Release / Media Release
Please find enclosed letter w.r.t. outcome of Board Meeting for the quarter ended 30th June 2026.30 Jul 2026 · Board Meeting / Outcome of Board Meeting
Please find enclosed letter w.r.t. intimation of Earnings Call Q1 FY 2026-27.29 Jul 2026 · Company Update / Analyst / Investor Meet
Please find attached newspaper publication regarding special window for re-lodgement of transfer request of physical shares.16 Jul 2026 · Company Update / Newspaper Publication
Please find enclosed letter w.r.t further investment in Exide Energy Solutions Limited, wholly owned subsidiary of the Company.15 Jul 2026 · Company Update / Acquisition
Please find enclosed certificate under Reg 74(5) of SEBI (DP) Regulations, 2018 for quarter ended 30th June 2026.13 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Please find enclosed scrutinizer''s report.10 Jul 2026 · AGM/EGM / AGM
Please find enclosed outcome of AGM of Exide Industries Limited held on Friday, 10th July 2026.10 Jul 2026 · AGM/EGM / AGM
Exide Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/07/2026 ,inter alia, to consider and approve unaudited financial results ....19 Jun 2026 · Board Meeting / Board Meeting
Please find enclosed newspaper advertisement w.r.t. Notice of the 79th AGM of the Company and e-voting information.17 Jun 2026 · Company Update / Newspaper Publication
Please find enclosed BRSR for FY 2025-26.16 Jun 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Please find enclosed Notice of 79th AGM of Exide Industries Limited scheduled to be held on Friday, 10th July 2026.16 Jun 2026 · AGM/EGM / AGM
Please find enclosed Notice of 79th AGM of Exide Industries Limited scheduled to be held on Friday, 10th July 2026.16 Jun 2026 · AGM/EGM / AGM
Please find enclosed the Integrated Annual report of the Company for the FY 2025-26.16 Jun 2026 · Others / Reg. 34 (1) Annual Report
Please find enclosed copy of newspaper publication w.r.t. notice of transfer of equity shares of the Company to IEPF.2 Jun 2026 · Company Update / Newspaper Publication
Please find enclosed newspaper publication w.r.t 79th AGM of the Company and Intimation of Tax Deduction on Dividend.30 May 2026 · Company Update / Newspaper Publication
Please find letter enclosed w.r.t Trading Window Closure.26 May 2026 · Insider Trading / SAST / Closure of Trading Window
Please find enclosed Annual Secretarial Compliance report for the FY ended 31st March 2026.18 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Please find enclosed letter w.r.t merger of CB Management Services Private Limited, the Registrar and Share Transfer Agent of the Company with MUFG Intime Private Limited.13 May 2026 · Company Update / General
Please find enclosed 2nd Newspaper publication w.r.t relodgement of transfer requests of physical shares.13 May 2026 · Company Update / Newspaper Publication

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 2.0000	3 Jul 2026	3 Jul 2026	—
Final Dividend - Rs. - 2.0000	18 Jul 2025	19 Jul 2025	—
Final Dividend - Rs. - 2.0000	22 Jul 2024	—	—

Board meetings

4 Nov 2026 Board Meeting - Financial Results
30 Jul 2026 Board Meeting - Financial Results

Exide Pumps Another ₹100 Crore into its Lithium-Ion Bet — the Factory Is Nearly Ready, but Profits Are Not

INFORMED Newsroom · 2026-07-16 · Source-verified

Exide Industries, India’s largest battery maker — the company behind the lead-acid batteries that start most cars and keep home inverters running during power cuts — has invested another ₹99.99 crore in its wholly owned lithium-ion subsidiary, Exide Energy Solutions Ltd (EESL), bringing total funding for the greenfield cell factory near Bengaluru to ₹4,902.23 crore. [announcement] This is the fourth tranche in six months and part of a ₹1,400 crore plan approved by the board in January 2026 to cover both equipment spending and initial working capital as the plant moves from installation to production. The steady drip of cash — ₹650 crore deployed under the January plan, with ₹750 crore still to go — reflects a business entering its most capital-hungry phase: commissioning four production lines while the subsidiary burns through ₹248.16 crore a year with barely ₹157.56 crore in revenue. [announcement]

The Investment Tally and What’s Left

Each investment in the sequence served the same purpose — funding the phased completion of a multi-gigawatt lithium-ion cell facility — and the pace has quickened markedly in recent months.

Sources: 28 Jan 2026 — ; 24 Feb 2026 — ; 25 Mar 2026 — ; 15 Jul 2026 — .

Tranche date	Amount (₹ crore)	Context
28 Jan 2026	50	Pre-dated the ₹1,400 crore board approval
24 Feb 2026	100	First draw under the January 2026 plan
25 Mar 2026	450	Largest single tranche under the plan
15 Jul 2026	99.99	Latest tranche; ₹750 crore still unutilised [announcement]

The cumulative ₹4,902.23 crore includes earlier investments predating these quarters. [announcement] EESL’s net worth at the end of March 2026 stood at ₹3,991.06 crore — meaning the parent has effectively funded the subsidiary’s entire equity base and then some. [announcement]

Why the Money Keeps Flowing

Exide’s management has been unambiguous about the lithium-ion project being the company’s “investment for tomorrow” — the third pillar of capital allocation after factory automation and the core lead-acid business. The factory itself is now in the final stretch. On the Q4 FY26 earnings call in May 2026, Managing Director Avik Roy said cylindrical cell samples would begin shipping to customers “around this month,” with prismatic line trials starting shortly after. The February 2026 call had already indicated that the prismatic LFP line — aimed at three-wheelers and e-rickshaws — would “possibly be the first revenue stream from the cell side” because it requires less stringent OEM validation.

The presentation deck from May 2026 shows 95% of utilities nearing completion across all four lines and approximately 45 supply agreements signed. The February deck described the cylindrical line as “validation in progress” and the prismatic line as “installation and commissioning in progress.” In plain terms: the building is ready, the machines are in place, and the company is now producing test cells to prove they meet customer specifications. Commercial dispatches were expected within “plus/minus one month” of March 2026.

What It Costs the Parent

Exide Industries’ standalone business — the lead-acid battery operation that funds this project — is in steady, unspectacular health. Standalone revenue for FY26 was ₹17,268.92 crore, up 4.1% year-on-year, and net profit rose 3.2% to ₹1,111.33 crore. [standalone FY26 annual] The automotive OEM segment grew over 25% in both Q4 and Q3, the replacement market expanded in double digits, and the solar segment crossed ₹1,000 crore in revenue for the first time. These segments together generated the cash that kept the parent company debt-free on a standalone basis. [standalone FY26 annual]

The consolidated picture absorbs the subsidiary’s financial weight. Consolidated FY26 EBITDA margin was 10.9%, virtually unchanged from 11.1% in FY25. [consolidated FY26 annual] EESL’s ₹248.16 crore loss for FY26 was absorbed within a consolidated net profit of ₹859.92 crore. [announcement][consolidated FY26 annual] The parent’s standalone EBITDA margin, at 11.7% for FY26, has lived in a tight band between 11.7% and 14.2% for at least six fiscal years — the current level is at the low end of that range, not a break below it. [standalone FY26 annual]

The Cash Burn and What Comes Next

EESL’s financials tell the story of a pre-revenue heavy-industry startup. Turnover for FY26 was ₹157.56 crore — mostly from the existing battery-pack assembly business using imported cells — against a loss of ₹248.16 crore. [announcement] The subsidiary had already lost ground on revenue: FY24 turnover was ₹239.14 crore (post-merger with an earlier group entity), meaning the top line actually shrank while the parent kept funding the capex cycle. [announcement]

Management has so far declined to specify when EESL will turn profitable. On the May 2026 call, Avik Roy pushed the question back: “Let us ramp up our plant. Let us operate at 85% utilisation with 90% yield. And that will be the time when I will come back and reply to this question.” Pravin Saraf, MD and CEO of EESL, said on the February 2026 call that achieving 90% yield and 85% plant utilisation, combined with some localisation, would bring costs in line with import-parity pricing. The company’s technology partner is SVOLT, a Chinese lithium-ion cell manufacturer, and the machinery and know-how were already imported before China tightened export restrictions.

The remaining ₹750 crore under the January 2026 approval is expected to cover both capex and working capital for FY27. CFO Manoj Agarwal said on the February call that the funding was designed “to ensure that our leverage is lower in EESL” — a signal that the parent intends to keep the subsidiary funded with equity rather than debt, at least through the commissioning phase. Phase 1 capacity is 6 gigawatt-hours, but the site and utilities are sized for 12 gigawatt-hours, and management has said Phase 2 investment would be “much lesser” than Phase 1. The decision to expand will depend on how quickly EV adoption picks up in India.

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