Exide Industries delivered a strong Q4 performance. It’s net profit increased 37% YoY to Rs 284 crore from Rs 208 crore in Q4FY23,. Its Q4FY24 revenue came in at Rs 4,009 crore, up 13% YoY from Rs.3,543 crore in Q4FY23. The Q4 performance was powered by strategic initiatives to boost sales and control costs and make the business better geared to tackle future trends. Q4 EBITDA margin increased to 12.9% from 10.4% in the same quarter last year.
Speaking on the company’s performance, the outgoing CEO and MD, Subir Chakraborty said: “Demand scenario was upbeat, and our diversified and technologically advanced product offerings helped us capture the opportunities across end customer markets. The outlook is positive both for the Automotive and Industrial verticals and we aim to deliver healthy sales growth and increase in profitability in near to medium term. 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
capitalize on opportunities both in the lead-acid as well as in the lithium-ion battery space.”
Automotive vertical focussing on future
The company outlined how new product launches with technologically advanced features helped the revenue growth. It also enabled the company in expanding domestic reach. With exports expanding to international destinations helped the growth trajectory. Given the expected demand for EVs in India, Exide sees lithium-ion demand to grow to 150GWh by 2030 in India.
Exide Energy Solutions’ progress on track
Exide Industries outlined how its wholly owned subsidiary, Exide is in advanced stages of setting of a lithium-ion cell manufacturing facility and aided by multi-year technical collaboration for li-ion cell technology with leading Chinese company, SVOLT Technology Solutions, it is looking to make a mark in the growing EV space. Exide Energy Solutions is setting up the multi-gigawatt green field project for li-ion cell manufacturing and it will be offering complete end to end solution: from cell to system, from molecule to megawatt. Exide has invested equity of Rs.2,302 crore in EESL till March, 2024.
Multiple chemistries/form factors and customizable module/pack solutions aided by joint product development integrated with the new product development cycle is set to offer an edge to Exide. Its Strategic raw material sourcing partnerships is expected to improve costing and manufacturing efficiencies through automation & technology deployment is also believed to add to the profitability.
