Exide Industries share price in focus as net profit down 26% to ₹172 crore, revenue falls 2%

The Kolkata-headquartered firm reported a 25.65% decline in its consolidated net profit to ₹171.94 crore for the latest September quarter, impacted by a transitional phase due to GST changes. It had posted a net profit of ₹231.28 crore in the corresponding quarter a year ago.

The revenue from operations saw a marginal dip of 1.92% to ₹4,364.51 crore during the quarter under review as against ₹4,450 crore a year earlier.

In an exchange filing, the battery maker said that its performance was impacted due to transition to the new goods and service tax (GST), which saw tax on batteries slimmed to 18% from 28% effective September 22, 2025.

Exide Industries, in a press release, stated that the GST 2.0 reform was a "welcome move" which will likely drive consumption, but it led to channel partners postponing purchases in anticipation of new stocks with updated prices, resulting in muted demand in the latter half of the quarter.

Commenting on the results, Avik Roy, MD & CEO, said, "We had a strong first half of the quarter until mid-August when the GST cut was. The growth was muted in the second half, especially in trade business, driven by channel de-stocking. However, it is a welcome move by the government, as it will drive demand in H2 FY’26."

"Domestic Macro outlook is favourable with low inflation, low interest rates and higher disposable incomes. We expect the strong growth momentum, especially in Trade and Automotive OEM business, to be back in Q3," he added.

The company also highlighted that its liquidity position remains comfortable with zero debt, and construction of its lithium-ion cell manufacturing facility is progressing in full swing, with commercial operations expected to begin towards the end of the financial year 2025-26.