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CNBC TV18

Exide Industries shares rise 4% as auto OEM segment logs third straight quarter of over-25% growth

AI Market Summary
Exide Industries reported strong FY24 Q1 results, with net profit up 28% YoY and revenue up 17.8%, supported by sustained demand across automotive OEM and replacement segments. EBITDA rose but margins softened slightly, reflecting raw material and FX pressures. Management reiterated progress on the Bengaluru lithium-ion gigafactory, with customer samples shipped and revenue expected from FY27, reinforcing its new-energy transition narrative.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT+1.78%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Exide Industries reported FY2024 Q1 results with consolidated net profit up 28% year on year to ₹351.3 crore and revenue up 17.8% to ₹5,528.4 crore. EBITDA rose 15.5% to ₹621 crore, while EBITDA margin edged down to 11.2%. The company said its auto OEM business posted more than 25% year-on-year growth for a third consecutive quarter. Its two-wheeler and four-wheeler replacement business also recorded a third straight quarter of double-digit growth.
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