The company’s management said that the underlying demand remains intact and growth should normalise in the third quarter. Replacement demand in the after-market segment also remains strong, with the company expecting “major growth” ahead.
Exide Industries noted that both two-wheeler and four-wheeler battery volumes recorded high single-digit growth in Q2, and OEM demand is expected to improve further. Exports may remain under pressure due to geopolitical conditions.
Exide said it has taken several price increases through the year, stopping only after the GST cut, and expects that reduction to play a key role in boosting demand going forward. The company also plans to commission its first lithium-ion cell line for two-wheelers, adding that Indian OEMs are showing strong interest in India-made cells and traction is “huge”.The company expects Q3 to be stronger for both four-wheeler and two-wheeler volumes, with the Solar and Home UPS businesses also projected to expand at a faster pace.
Progress at Exide Energy, its lithium-ion cell manufacturing subsidiary, remains on schedule, according to the management, who also added that Line 1 equipment is nearing commissioning completion, with product validation trials set to begin in Q3. Lines 2, 3 and 4 are also nearing installation completion.
The battery maker reported a net profit of ₹221 crore for the September quarter, a year-on-year decline of 25.8%. The revenue fell 2.1% to ₹4,178 crore. EBITDA came in at ₹394.5 crore, while EBITDA margin dropped to 9.4%.
Shares of Exide Industries are trading 1% higher as of 2 PM, at ₹384.5. The stock is still down 9% so far in 2025.
Catch live market updates with CNBC-TV18.com’s blog
