Exide Industries Limited (NSE: EXIDEIND), India’s leading battery manufacturer, announced its financial results for the fourth quarter (Q4) and full fiscal year (FY) 2024-25, showcasing resilience despite macroeconomic headwinds. The company also revealed significant strides in its lithium-ion cell manufacturing project and leadership transitions, signalling a transformative phase ahead.
Financial Performance Highlights
Exide reported standalone revenue from operations of ₹4,159 crore in Q4 FY25, marking an 8.1% sequential growth and 3.5% year-on-year (YoY) increase. For FY25, standalone revenue rose to ₹16,588 crore, up 3.5% YoY. Profitability metrics reflected margin pressures due to rising raw material costs, but strategic cost management ensured stable cash flows.
Key Standalone Financial Metrics (FY25 vs. FY24)
| Metric | FY25 (₹ Crore) | FY24 (₹ Crore) | Change (%) |
|---|---|---|---|
| Revenue | 16,588 | 16,029 | +3.5% |
| EBITDA | 1,893 | 1,871 | +1.2% |
| Profit After Tax (PAT) | 1,077 | 1,053 | +2.3% |
| EPS (₹) | 12.67 | 12.39 | +2.3% |
Consolidated Performance:
- Consolidated revenue grew to ₹17,238 crore in FY25 (vs. ₹16,770 crore in FY24).
- PAT stood at ₹795 crore attributable to shareholders, down 9% YoY due to subsidiary losses.
Dividend Announcement
The Board recommended a final dividend of ₹2 per equity share (200% on face value of ₹1) for FY25, subject to shareholder approval. This continues Exide’s legacy of consistent shareholder returns.
Leadership Transitions
- New Chairman: Mr. Sridhar Gorthi, an Independent Director, succeeded Mr. Bharat D Shah as Chairman.
- CFO Change: Mr. Asish Kumar Mukherjee retired after 27 years, replaced by Mr. Manoj Kumar Agarwal, a seasoned finance professional with 30+ years of experience.
Strategic Investments in Lithium-ion Manufacturing
Exide’s subsidiary, Exide Energy Solutions Limited (EESL), received ₹1,200 crore in fresh equity infusion during FY25, with total investments now at ₹3,602 crore. The 12 GWh lithium-ion cell manufacturing facility is nearing completion, targeting commercialization in FY26. This positions Exide to capitalize on India’s booming EV market, projected to grow at a 36% CAGR (2023–2030).
Business Segment Performance
- Auto Replacement: Double-digit growth driven by advanced battery solutions.
- Industrial UPS & Solar: Strong demand from critical infrastructure sectors.
- Auto OEM & Home UPS: Slowed due to weak vehicle demand and seasonal factors.
CEO Commentary
Mr. Avik Roy, MD & CEO, stated:
*“FY25 was challenging, but our focus on cost efficiency and organizational transformation has started yielding results. The lithium-ion project is a cornerstone of our future growth, aligning with India’s green energy transition.”*
Market Reaction & Analyst Outlook
Exide’s stock (NSE: EXIDEIND) closed 1.2% higher post-results. Analysts highlight:
- Upside: Lithium-ion venture diversification, debt-free balance sheet (cash flow from operations at ₹1,298 crore in FY25).
- Risks: Raw material volatility (e.g., antimony prices up 20% in H2 FY25), slower industrial demand.
Future Outlook
Exide aims to:
- Ramp up lithium-ion production to meet EV and renewable storage demand.
- Expand global footprint in automotive and industrial segments.
- Optimize costs through automation and supply chain resilience.
About Exide Industries:
A 75+ year legacy brand, Exide is India’s largest battery manufacturer, serving automotive, industrial, and emerging energy sectors across 63 countries.
Contact:
Chhavi Agarwal, Head – Investor Relations
Email: chhavi.agarwal@exide.co.in | Website: www.exideindustries.com
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