Kolkata, India – January 28, 2025: Exide Industries Limited (NSE: EXIDEIND, BSE: 500086) has announced its unaudited financial results for Q3 FY2024-25, reporting ₹3,849 crore in Revenue and ₹245 crore in net profit. The company also declared an additional ₹300 crore investment in Exide Energy Solutions Limited (EESL) to expand its multi-gigawatt lithium-ion cell manufacturing facility.
Key Financial Highlights – Q3 FY2024-25 (Standalone)
- Revenue from Operations: ₹3,849 crore (YoY growth of 0.2% from ₹3,841 crore)
- Total Income: ₹3,861.78 crore
- Profit Before Tax (PBT): ₹325.31 crore (YoY growth of 1.4% from ₹320.84 crore)
- Net Profit (PAT): ₹244.99 crore (YoY growth of 2.0% from ₹240.27 crore)
- EBITDA Margin: 11.7% (up from 11.5% in Q3 FY2023-24)
- Earnings Per Share (EPS): ₹2.88 per share.
Nine-Month Performance (April – December 2024) (Standalone)
- Total Revenue: ₹12,429 crore (YoY growth of 3.4% from ₹12,020 crore)
- Profit Before Tax (PBT): ₹1,098.49 crore
- Net Profit (PAT): ₹822.33 crore (YoY growth of 6.9% from ₹769.21 crore)
- Earnings Per Share (EPS): ₹9.67 per share.
Investment in Lithium-Ion Cell Manufacturing
- Additional ₹300 crore investment in EESL to expand its greenfield lithium-ion cell manufacturing facility.
- Total investment in EESL to date: ₹3,302.23 crore.
- Construction of factory buildings and production line installations is underway.
- Commercial operations are expected to begin in FY2025-26.
Key Business Highlights – Q3 FY2024-25
- Automotive Battery Segment:
- Double-digit growth in the 2W & 4W replacement market due to strong aftermarket demand.
- Automotive OEM segment demand remained muted.
- Solar Energy Segment:
- Double-digit revenue growth is driven by government incentives and solarization programs.
- Industrial Battery Segment:
- Market slowdown due to lower government infrastructure spending.
- Muted private capital expenditure in Q3 affected demand.
- Export Growth:
- Robust growth in automotive battery exports due to a strengthened product portfolio and global market expansion.
Senior Management Changes
- Dr. Dipak Sen Chaudhuri, Technical Advisor to MD & CEO, and Mr. Arnab Saha, President-Trade Reserve Power, stepped down from their roles effective January 28, 2025.
Management Commentary
Avik Kumar Roy, Managing Director & CEO, Exide Industries, stated:"Our profitability remains steady with EBITDA and PBT margins at 11.7% and 8.5%, respectively. Despite macroeconomic challenges, we continue to see promising growth in the auto replacement and export markets. The lithium-ion project is progressing rapidly, and we expect commercial operations to commence in FY26.".
Market Outlook & Investor Takeaways
- Growth in auto replacement and solar energy is expected to offset temporary softness in industrial demand.
- Strategic investments in lithium-ion manufacturing to position Exide for EV market leadership.
- A strong balance sheet and stable margins reinforce long-term growth potential.