Exide Industries Q4 Results Highlights: Net profit increases 36% YoY to ₹284 crore

Exide Industries Q4 Results Live Update at 3:39 pm: Shares of Exide Industries closed 3.8% higher at ₹473 on the NSE. Intraday, the stock recoded a high of ₹481.65.

Exide Industries Q4 Results Live Update at 3:15 pm: New appointments

Avik Kumar Roy- Managing Director and Chief Executive Officer AK Mukherjee- Director-Finance and Chief Financial Officer Jitendra Kumar- Company Secretary and President, Legal & Corporate Affairs Manoj Agarwal- Deputy CFO and President, Commercial and IT

Exide Industries Q4 Results Live Update at 2:53 pm: Update on lithium cell manufacturing plant

• The company said the on-ground construction work for the lithium cell manufacturing plant is going as per schedule. Earlier this month, Exide Industries announced a partnership with South Korean auto majors Hyundai Motor Company (HMC) and Kia Corporation for development, production, and supply of battery cells for Hyundai Motor’s EV program for the Indian market.

• In the fourth quarter of FY24, the company invested ₹180 crore in its wholly owned subsidiary Exide Energy Solutions Ltd (EESL). Till March 2024, Exide has made a total equity investment of ₹2,302 crore in EESL.

• Exide Energy is in the business of manufacturing battery cells of advanced chemistry and form factor, lithium ion cells and battery pack solutions for various energy storage applications across automotive and industrial sectors.

Exide Industries Q4 Results Live Update at 2:33 pm: Shares of Exide Industries surged 4.21% to trade at ₹474.75 on the NSE after the company announced its financial results.

Exide Industries Q4 Results Live Update at 2:09 pm: Exide Industries MD and CEO Subir Chakraborty on financial results

_"We had one of the best quarterly performances, with sales and operating profits growing by 13% and 41%, respectively. Demand scenario was upbeat, and our diversified and technologically advanced product offerings helped us capture the opportunities across end customer markets. EBITDA margin increased to 12.9% during the quarter from 10.4% in the same quarter last year.

For the full financial year, our performance was commendable with sales and operating profits growing by 10% and 19%, respectively. Outlook is positive both for the Automotive and Industrial verticals and we aim to deliver healthy sales growth and increase in profitability in near-tomedium term.

Our lithium-ion cell manufacturing project is progressing well and is expected to be commissioned within defined timelines. We are positive about the future and are very well positioned to capitalize on opportunities both in the lead-acid as well as in the lithium-ion battery space"._

Exide Industries Q4 Results Live Update at 2:06 pm: The company's board has proposed a final dividend of ₹2 per equity share for FY24.

Exide Industries Q4 Results Live Update at 2:05 pm: Standalone EBITDA surged by 41% YoY, and EBITDA margin was 12.9% in Q4 FY24 compared to 10.4% in the year-ago period.

Exide Industries Q4 Results Live Update at 2:03 pm: Exide Industries standalone financial results highlights

Exide Industries Q4 Results Live Update at 2:00 pm: Exide Industries' standalone net profit increased 36% year-on-year to ₹284 crore in Q4 FY24 from ₹208 crore in the year-ago period.

Exide Industries Q4 Results Live Update at 1:56 pm: The Board of Directors of Exide Energy Solutions Limited (EESL), wholly owned subsidiary of Exide Industries, engaged in the manufacture of lithium-ion cells, modules and battery packs appointed Arnn Mittal as Managing Director and Chief Executive Officer of EESL for a term of three years with effect from May 1, 2024 till April 30, 2027.

Exide Industries Q4 Results Live Update at 1:54 pm: The consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) increased 20.5% year-on-year to ₹447 crore in Q4 FY24 from ₹371 crore in the year-ago period. Quarter on quarter, EBITDA declined 3.4%.

Exide Industries Q4 Results Live Update at 1:52 pm: The consolidated revenue from operations increased 13.4% year-on-year to ₹4,172 crore in Q4 FY24 from ₹3,676 crore in the year-ago period. Quarter on quarter, net profit increased 4.8%.

Exide Industries Q4 Results Live Update at 1:48 pm: Exide Industries' consolidated net profit increased 2.6% year-on-year to ₹185.7 crore in Q4 FY24 from ₹181.7 crore in the year-ago period. Quarter on quarter, net profit declined 8.3%.

Exide Industries Q4 Results Live Update at 12:37 pm: Exide Industries at 12:37 pm on NSE

• Share price: ₹463.45 (+1.73%)
• Open: ₹457.90
• High: ₹465.80
• Low: ₹457
• Total mcap: ₹39,393.25 crore
• Free float mcap: ₹20,862.66 crore

Exide Industries Q4 Results Live Update at 11:50 am: Exide Industries shares were trading at ₹462.7, up 1.5%, on the NSE. The stock recoded an intraday high of ₹465.8.

Exide Industries Q4 Results Live Update at 11:10 am: How Battery major performed in Q3 FY24

Exide Industries' consolidated net profit stood at ₹202.69 crore in Q3 FY24 as against ₹198.14 crore for the year-ago period, reflecting a 2.3% increase.

The company's revenue from operations also grew 12.47% year-on-year (YoY) to ₹3,979.83 crore in Q4 FY24 as compared to ₹3,538.50 crore for the same period last fiscal.

Exide Industries Q4 Results Live Update at 10:35 am: Exide Industries products

• Automotive batteries
• Industrial batteries
• Inverter batteries
• Institutional UPS batteries
• Solar solutions
• Genset batteries
• Submarine batteries
• Home UPS systems
• E-rickshaw vehicles

Exide Industries Q4 Results Live Update at 10:12 am: Shares of Exide Industries were trading 1.2% higher at ₹461 on the NSE ahead of the quarterly results.

Exide Industries Q4 Results Live Update at 9:55 am: Board of Directors

• Bharat Dhirajlal Shah- Chairman and Independent Director
• RB Rajeja- Vice Chairman and Non-Executive Director
• Subir Chakrabory- Managing Director & Chief Executive Officer
• Asish Kumar Mukherjee- Director, Finance & Chief Financial Officer
• Arun Mittal- Director, Automotive
• Avik Kumar Roy- Director, Industrial
• Sridhar Gorthi, Independent Director
• Mona N Desai- Independent Director
• Surin Kapadia- Independent Director

Exide Industries Q4 Results Live Update at 9:25 am: Shares of the battery manufacturer were trading at ₹461.50, reflecting a gain of 1.3%, on the NSE. The stock opened at ₹457.90 on Tuesday.

Exide Industries Q4 Results Live Update at 9:05 am: The battery manufacturer will announce financial results for January-March quarter of financial year 2023-24.

Exide Industries Q4 Results: Exide Industries will announce financial results for the fourth quarter of fiscal year 2023-24 (Q4 FY24) on Tuesday, April 30.

The company's stock has been rising after signing the the electric vehicle (EV) battery localisation pact with Kia and Hyundai earlier this month.

Also Read: Exide Industries shares hit all-time high; what's driving the rally?

Other listed companies that will declare their Q4 results today include Adani Energy Solutions, Adani Total Gas, Cholamandalam Investment, Indian Oil Corporation (IOC), REC, Indus Towers, P&G, Castrol India, Star Health, Central Bank of India, Indiamart Intermesh, Sona BLW Precision, Vedant Fashions and Five-Star Business Finance.