Exide Industries (500086) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 delivered 17.6% standalone revenue growth and 19.5% EBITDA growth year-over-year, with broad-based double-digit gains across automotive, industrial, inverter, solar, and export segments.

• PAT increased 27.1% year-over-year to Rs. 407 crore, reflecting operating leverage and effective cost management.

• Maintained a zero-debt balance sheet and robust operating cash flows, supported by strong demand in both rural and urban markets.

• Advanced chemistry gigafactory in Bangalore achieved 100% equipment installation, commenced customer sample deliveries, and completed major certifications.

• Leadership in automotive, industrial, and renewable energy battery segments, with a diversified product portfolio and pan-India/global presence.

Financial highlights

• Standalone revenue: Rs. 5,305 crore (Q1 FY27), up 17.6% YoY; consolidated revenue: Rs. 5,528 crore, up 17.8% YoY.

• EBITDA reached Rs. 655 crore, up 19.5% YoY; EBITDA margin expanded to 12.4%, up 20 bps YoY and 70 bps sequentially.

• PAT grew 27.1% YoY to Rs. 407 crore; consolidated PAT at Rs. 351 crore, up 27.9% YoY.

• EPS at Rs. 4.79 (standalone) and Rs. 4.12 (consolidated) for Q1 FY27.

• Price increases contributed 4%-6% to top-line growth across categories.

Outlook and guidance

• Revenue contribution from the Bengaluru gigafactory expected to commence in FY27.

• Management refrained from providing full-year revenue guidance due to market visibility and base effect uncertainties, especially in automotive OEM.

• Q2 expected to benefit from a low base, while Q3 and Q4 may see lower percentage growth due to high base effect.

• Confident in medium to long-term growth, supported by favorable regulatory and macroeconomic trends.

• Investing in new energy to address evolving energy and mobility needs.