Exide Industries, a leading storage battery maker, on Tuesday posted its financial results for the fourth quarter ending March 31, 2024, showcasing significant growth in various key metrics. The company reported a commendable 36.5% year-on-year (YoY) surge in net profit, reaching Rs 284 crore compared to Rs 208 crore in the corresponding period last year.
This impressive performance underscores Exide’s resilience and ability to navigate through challenging market conditions.
The positive financial results were accompanied by a notable increase in revenue from operations, which rose by 13.2% to Rs 4,009.4 crore in Q4 FY24, up from Rs 3,543 crore in the same quarter a year ago. This growth trajectory reflects the company’s robust operational efficiency and strategic initiatives aimed at enhancing market penetration and customer satisfaction. Exide Industries also witnessed a substantial improvement in its Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA), which surged by 41% YoY to Rs 516.4 crore, compared to Rs 366.6 crore in Q4 FY23. The company’s EBITDA margin expanded to 12.8% from 10.3% in the previous year, indicating improved profitability and operational performance.
Exide’s scrip on the National Stock Exchange (NSE) surged over 4% higher, reaching Rs 473 apiece. Year-to-date, the stock has demonstrated remarkable growth, rising by 46%, highlighting investors’ confidence in the company’s future prospects and sustainable business model.
Exide’s board of directors recommended a dividend of Rs 2 per equity share of the face value of Re 1 for the fiscal year 2023-24. This dividend proposal underscores the company’s commitment to delivering value to its shareholders while maintaining a prudent capital allocation strategy.
