Q3 FY 2022 Review

Exide Batteries Limited reported net revenue of ₹3,196.65 crores for the quarter ended December 31, 2021, compared to ₹2,801 crores for the quarter ended December 31, 2020. EBIT and Profit After Tax were ₹283.55 crores and ₹204.10 crores for the quarter ended December 31, 2021, as compared to ₹327.62 crores and ₹241.44 crores, during the corresponding quarter of the previous year.

Exide Batteries Limited - Investment Summary

Overview

• Exide Industries Limited divested its holding in Exide Life to HDFC Life for total consideration of ₹6,687 crores with ₹726 crores in cash and 87.02 crores of shares in HDFC Life issued at ₹685 per share.

• Exide Industries Limited has entered into a long-term technical collaboration with SVOLT Energy Technology for lithium-ion-cell manufacturing.

• The company has incorporated a wholly-owned subsidiary, i.e., Exide Energy Solutions Limited to set up a greenfield multi-gigawatt lithium-ion cell manufacturing facility.

Exide Batteries Limited - Quarterly Summary

Business

• For more than seven decades, Exide has been one of India’s most reliable battery brands, enjoying an unrivalled reputation and recall.

• Exide designs, manufactures, markets, and sells the broadest range of lead-acid storage batteries worldwide, from 2.5Ah to 20,0000 Ah. Capacity to cover the broadest spectrum of applications.

• The batteries are manufactured for the Automotive, Power, Telecom, Infrastructure Projects, Computer Industries, and the Railways, Minings, and Defense sectors.

• The company enjoys a leadership position in India, and its exports span 60 countries across six countries.

• A few years back, Exide also forayed into lithium-ion battery systems and energy solutions through its subsidiary Exide Leclanche Energy Limited (under the brand Nexcharge), together with JV partner Leclanche SA Switzerland with its state-of-the-art R&D Centre, the subsidiary aims to build lithium-ion modules/packs lithium-ion energy storage systems for India’s electric vehicle and grid-based application.

• As of March 22, 2022, Chloride Metals Limited, a wholly-owned material subsidiary of Exide Industries Limited, started commercial production at its newly set-up greenfield manufacturing battery recycling facility at Haldia, in the state of West Bengal. The said recycling plant is spread over 21 acres. It is equipped with modern state-of-art technology with the help of global engineering firm Engitec Technologies S.P.A. Italy. The total installed capacity of the plant is 1,08,000 MT

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• With the addition of a new plant recycling plant, Chloride Metal Limited is now operating with three battery recycling plants in Maharashtra, Karnataka, and West Bengal.

• Company has a strong distribution network with 150+ warehouses and 48,000 direct and indirect dealers. It has also market share close to 55% in organized market in the lead acid battery markets.

• Out of the total revenue, 92.73% of revenue have generated from India and 7.27% from other countries in FY 2021, compared to 92.95% and 7.05% in FY 2020.

Exide Batteries Limited - Revenue Trend

Topline and Bottomline trend (crores)

Ratio Analysis