Exide Industries Q4 Results: PAT Jumps 36% To Rs 284 Cr; Declares Dividend of Rs 2

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.

"We had one of the best quarterly performances, with sales and operating profits growing by 13% and 41%, respectively. The 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," Subir Chakraborty, CEO, said in a statement.

The proposed dividend is subject to the approval of the shareholders at the upcoming 77th Annual General Meeting of the company. This decision reflects Exide's adherence to corporate governance principles and its transparent communication with stakeholders.

"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 capitalise on opportunities both in the lead-acid as well as in the lithium-ion battery space," Chakraborty added.

The company expressed optimism about the future outlook despite the prevailing macroeconomic challenges. The company remains focused on leveraging its strengths, including its robust product portfolio, extensive distribution network, and strong brand equity, to capitalise on emerging opportunities and drive sustainable growth.

Exide Industries' strong financial performance in Q4 FY24, marked by robust revenue growth, improved profitability, and shareholder value creation through dividend payout, underscores its resilience and strategic vision amidst a dynamic business environment.